Haptics leader is focused on accelerating profitable growth MONTREAL, May 30, 2024 (GLOBE NEWSWIRE) -- D-BOX Technologies Inc. ("D-BOX" or the "Corporation") (TSX:DBO) a world leader in haptic and immersive experiences, today reported financial results for the fourth quarter and fiscal year ended March 31, 2024. All dollar amounts are expressed in Canadian currency. Q4 FISCAL 2024 HIGHLIGHTS(Compared to Q4 fiscal 2023) Total revenues of $10.1 million contributed to full year record highs for rights for use, rental and maintenance revenue, system sales revenue, and total revenues 31 net new screens installed, bringing the total number of active D-BOX cinema screens to 929 as at March 31, 2024 Adjusted EBITDA decreased slightly from $648 thousand to $619 thousand Net profit of $620 thousand contributed to record net profit of $1.1 million for the fiscal year "Fiscal 2024 was our best year ever, with record highs for rights for use, rental and maintenance revenue, system sales revenue, total revenues, and net profit," said Sébastien Mailhot, President and Chief Executive Officer of D-BOX. "We attribute this success to our decision to focus primarily on commercial markets, particularly the theatrical, simulation and training, and sim racing segments. In fact, most of our record revenues and profitability in fiscal 2024 came from these three key market segments. For the fourth quarter, our revenues and profitability rebounded strongly following a softer third quarter a few months ago. However, our system sales, total revenues and adjusted EBITDA were down compared to the very strong fourth quarter we had the prior year." "Even though we are proud of our strong and growing financial results in both fiscal 2023 and fiscal 2024, we are looking to accelerate profitable growth as we have reached a pivotal point on revenue growth conversion to higher profitability. We are now more focused on fewer markets where we see more market readiness, and on building a more dominant position in those markets to materialize strategic value accordingly. And while the Hollywood guild strikes ended last year, some lingering effects are expected to persist in calendar 2024 as the industry undergoes a transition-year ahead of an expected rebound, pointing to a potentially softer H1 in fiscal 2025 for D-BOX." (Amounts are in thousands of Canadian dollars)   Three-month periodsended March 31 Twelve-month periodsended March 31   2024 2023  2024 2023  Total revenues 10,179 10,412   39,597 34,122   Rights for use, rental and maintenance revenues 2,126 1,930   8,699 8,502   System sales revenues 8,053 8,482   30,898 25,620   Gross profit excluding amortization* 4,993 5,164   19,814 17,732   Net profit (loss) 620 (115 ) 1,093 (937 ) Adjusted EBITDA* 619 648   3,056 1,782   *See the Non-IFRS Financial Performance Measures section in this news release for more information.