Mr. Hyonmyong Cho reports

DESTINY MEDIA TECHNOLOGIES INC. ANNOUNCES FISCAL 2026 THIRD QUARTER RESULTS

Destiny Media Technologies Inc. has released its financial results for the third quarter (Q3) of fiscal year (FY) 2026, which ended May 31, 2026.

"Following today's announcement of Sharath Cherian as our next chief executive officer, effective July 15, 2026, I want to extend my warmest welcome to him as he steps into this role. I am proud of the resilience and dedication our employees have shown throughout this transition period. Our solid quarterly results are a direct reflection of that hard work," said Hyonmyong Cho, chairman and interim chief executive officer. "As expected, revenue was impacted by the previously announced longer-term agreement with a major label customer. Excluding that change, our core business remained stable, supported by continued growth in our independent customer base and solid performance across other customer segments."

"I am excited to step into the role of chief executive officer on July 15, 2026, to establish a clear, disciplined path forward for this organization," said Sharath Cherian, incoming chief executive officer. "This company possesses an excellent foundation with a strong customer value proposition and a talented work force that are ready to be unlocked. I look forward to working closely with our team to instill operational excellence, build long-term value for our shareholders, and drive a culture of execution and accountability."

Financial highlights:

Q3 FY 2026 versus Q3 FY 2025:

• Growth in total customers of 5.0 per cent;
• Revenue of $1.0-million, a decrease of 8.4 per cent, mostly driven by major customer long-term agreement pricing;
• GAAP (generally accepted accounting principles) net loss per share of two cents, versus a loss of one cent in the comparable period a year ago;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $55,500, versus EBITDA of $122,097 in the comparable period a year ago. Q3 FY 2026 included a one-time severance cost of $110,467.

About Destiny Media Technologies Inc.

Destiny provides software-as-a-service (SaaS) solutions to businesses in the music industry solving critical problems in distribution and promotion. The core service, Play MPE, provides promotional music marketing to engaged networks of decision makers in radio, film, television and beyond.

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