Revenue grew 23% YoY to $1.6m Cash-based Operating Expenses reduced by 44% EBITDA loss reduced by 48% TORONTO, May 30, 2024 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV:ART), (OTCQB:ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced its financial results for the first quarter ended March 31, 2024. Q1 2024 Financial Update Revenue for Q1 2024 was $1.6M vs $1.3M for Q1 2023, a 23% increase. Cash based Operating Expenses reduced to $1.8M vs $3.2M, a 44% improvement. Q1 2024 EBITDA loss of ($0.9M) vs ($2.5M) in Q1 2023, a positive reduction of 48%. Q1 2023 Business Highlights Signed the largest contract in the Company's history with the University of Quebec at Trois Rivieres, to deliver 13 ARHT systems (5 CAPSULE hologram displays and 8 capture studios). Signed a contract for 5 CAPSULE hologram displays with a luxury global fashion brand to be installed at their various country HQs in Italy, USA, Singapore, China and Korea. This follows an installation in Japan in Q4 2023. Signed contracts with several new major enterprise clients through three new channel partners, contributing $261k in Q1 revenue. "Our 2024 strategy to increase revenues and decrease costs has been positively reflected in our Q1 2024 results and should continue to improve through Q2 and the remainder of 2024. ...