Mr. Terence Chan reports

ZOOMERMEDIA LIMITED ANNOUNCES SECOND QUARTER 2022-23 FINANCIAL RESULTS

ZoomerMedia Ltd. has released its financial results for the second quarter ended Feb. 28, 2023.

Consolidated results

For the six months ended Feb. 28, 2023, the company generated revenues of $32.5-million, operating expenses of $29.3-million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $3.2-million. Net income for the same period was $400,000.

For the comparative six months ended Feb. 28, 2022, the company had revenues of $26.8-million, operating expenses of $21.0-million and adjusted EBITDA of $5.8-million. Net income for the three months was $3.6-million.

Additional information

Detailed financial information and management's discussion and analysis for the six months ended Feb. 28, 2023, can be found on SEDAR's website. The financial information included in this release is qualified in its entirety and should be read together with the interim consolidated financial statements for the six months ended Feb. 28, 2023, including the notes thereto.

About ZoomerMedia Ltd.

Founded by television and media icon Moses Znaimer in 2008, ZoomerMedia is a multimedia company devoted to creating content, services and experiences for Canada's most powerful audiences: the 17.2 million people aged 45-plus, also known as zoomers, and the 13.7 million millennials and Gen Zs, coincidentally also called zoomers, who follow in their footsteps.

ZoomerMedia operates five TV, two radio, three print, three live event and 15 digital properties, including the newly acquired youth-friendly local news and lifestyle digital publication blogTO and dailyhive. ZoomerMedia produces original TV, radio and podcast programming and offers clients creative audio and video production services and bespoke events on site at its 2.6-acre complex in Toronto's Liberty Village.

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