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DLPN

Dolphin Entertainment, Inc.

DLPN

Dolphin Entertainment, Inc. • NASDAQ
$1.65 ▲ 1.23% (+0.02)
Market Cap $18.74 M
52w High $1.88
52w Low $0.75
Dividend Yield 0%
P/E -3.24
Volume 44.11K
Outstanding Shares 11.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.796M ▲ $2.857M ▲ $-365.494K ▲ -2.47% ▲ $-0.03 ▲ $851.848K ▲
Q2-2025 $14.088M ▲ $2.509M ▼ $-1.414M ▲ -10.037% ▲ $-0.13 ▲ $-239.621K ▲
Q1-2025 $12.17M ▼ $13.599M ▲ $-2.329M ▼ -19.138% ▼ $-0.21 ▼ $-1.156M ▼
Q4-2024 $12.318M ▼ $13.217M ▼ $-1.96M ▲ -15.909% ▲ $-0.18 ▲ $-757.296K ▲
Q3-2024 $12.682M $20.583M $-8.692M -68.539% $-0.8 $-7.525M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.757M ▲ $59.962M ▲ $51.532M ▲ $8.43M ▲
Q2-2025 $8.697M ▲ $58.611M ▲ $50.709M ▲ $7.902M ▼
Q1-2025 $7.085M ▼ $58.575M ▲ $49.259M ▲ $9.316M ▼
Q4-2024 $8.204M ▲ $58.437M ▲ $46.792M ▲ $11.645M ▼
Q3-2024 $5.66M $57.301M $43.699M $13.601M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-365.494K ▲ $-2.407M ▼ $-29 ▼ $1.542M ▲ $-864.958K ▼ $-2.407M ▼
Q2-2025 $-1.414M ▲ $1.506M ▲ $0 ▲ $106.197K ▼ $1.612M ▲ $1.506M ▲
Q1-2025 $-2.329M ▼ $-1.703M ▼ $-1.088K ▼ $585.931K ▼ $-1.119M ▼ $-1.705M ▼
Q4-2024 $-1.96M ▲ $850.202K ▲ $-2 ▲ $1.694M ▲ $2.544M ▲ $850.2K ▲
Q3-2024 $-8.692M $-1.669M $-1.322M $-270.979K $-3.262M $-1.669M

Revenue by Products

Product Q2-2023Q4-2023Q1-2024Q1-2025
CPD
CPD
 $0 ▲$0 ▲$0 ▲$0 ▲
E P M
E P M
 $10.00M ▲$20.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Dolphin’s revenue base is relatively small but has trended up over the past few years. Gross profit closely tracks revenue, which is typical for a services and marketing-heavy business with relatively low direct costs on each project. However, the company has struggled to convert this revenue into consistent profits. Operating income and net income have generally been negative, with losses widening recently after a brief period closer to break-even. This suggests overhead costs, growth initiatives, or deal structures are weighing on profitability. Earnings per share have moved deeper into negative territory, and given the history of reverse stock splits, this pressure is being felt at the per‑share level. Overall, the income statement points to a company that has built a diversified revenue engine but has not yet found a stable, profitable cost structure.

Balance Sheet

Balance Sheet The balance sheet is relatively small in scale, with a modest asset base and a limited cash cushion. Cash on hand has stayed fairly flat over the last several years, indicating no major buildup of liquidity. Debt sits at a noticeable level relative to total assets and has crept up over time, while shareholders’ equity has declined, reflecting cumulative losses. This pattern—steady or rising debt, shrinking equity, and repeated reverse stock splits—signals a balance sheet that does not have a lot of slack. Dolphin can operate, but it has less room for prolonged setbacks or aggressive investment without new capital or balance sheet changes. In simple terms, the financial foundation is serviceable but thin, and more sensitive to shocks than that of a larger, better-capitalized media group.

Cash Flow

Cash Flow Cash flow from operations has hovered around break-even over the multi‑year period, with free cash flow also roughly flat. Capital spending is very light, which fits a business focused on marketing, PR, and content development rather than owning large physical assets. The upside is that Dolphin is not burning large amounts of cash on equipment or infrastructure. The downside is that limited positive operating cash flow means there is not a strong internal engine to fund growth, pay down debt, or rebuild the balance sheet. Any volatility in project timing or client budgets can quickly matter when day‑to‑day cash generation is thin. So, cash flow is stable but not robust, leaving the company reliant on careful expense control, working capital management, and external financing when pursuing larger opportunities.

Competitive Edge

Competitive Edge Dolphin’s competitive strength comes from its “supergroup” structure: a collection of specialty agencies across film, TV, music, culinary, hospitality, influencer marketing, and events. This allows the company to offer full‑suite campaigns that cross traditional media, digital channels, and influencer networks. The ability to cross‑sell between agencies and provide integrated campaigns is a clear differentiator versus standalone PR or marketing shops. Long-standing relationships with major brands, celebrities, and studios add credibility and give Dolphin access to high‑profile projects that newcomers would struggle to win. That said, the company still operates in a fiercely competitive, fragmented industry with many global agency networks and boutique firms. Client budgets are cyclical and often project‑based, and success can be hit‑driven. Dolphin’s position is attractive within its niche, but it remains a smaller player facing large, well-capitalized rivals and constant pressure to prove its value on each campaign.

Innovation and R&D

Innovation and R&D Innovation at Dolphin is more about business model and creativity than traditional lab-based R&D. The company has deliberately built an integrated ecosystem across PR, marketing, digital influencers, and content production. This structure itself is an innovation in how entertainment marketing is delivered. Dolphin has also pushed into newer digital areas such as NFTs and branded digital collectibles, partnering with platforms and artists to experiment in emerging Web3 economies. These initiatives show a willingness to be early, but they also carry higher uncertainty given the volatility in NFT markets. On the content side, partnerships like the IMAX documentary deal, new divisions such as “Tastemakers” focused on lifestyle creators, and venture-style collaborations with personalities and brands (for example, specialty consumer products) demonstrate ongoing experimentation. The opportunity is to turn these experiments into recurring franchises; the risk is spreading resources across trends that may not all scale. Overall, Dolphin appears creative and opportunistic, leaning into new formats and distribution models, but its innovation path is closely tied to rapidly changing consumer tastes and digital platforms.

Summary

Dolphin Entertainment is a niche entertainment and marketing platform that has stitched together a portfolio of respected agencies and content initiatives. Strategically, the company benefits from an integrated model, deep industry relationships, and a willingness to explore new areas like NFTs, influencer ecosystems, and premium documentaries. Financially, though, the picture is more fragile. Revenue has grown, but profits remain elusive, with recent years showing deeper losses. The balance sheet is thin, carrying meaningful debt relative to its scale and limited equity, and cash generation is modest at best. The history of multiple reverse stock splits underscores the pressure the company has faced at the capital markets level. The story is one of strong creative positioning and promising strategic angles offset by ongoing profitability challenges, tight financial resources, and exposure to cyclical, hit‑driven markets. Future outcomes will depend heavily on Dolphin’s ability to turn its integrated model and new initiatives into steadier, higher-margin revenue while managing financial risk carefully.

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November 12, 2025 · 4:10 PM UTC

Dolphin Announces Record Q3 Revenue of $14.8 Million, up 16.7% YoY

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November 7, 2025 · 9:25 AM UTC

Dolphin to Host Third Quarter 2025 Earnings Call on November 12 at 4:30 PM ET

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November 5, 2025 · 9:00 AM UTC

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October 28, 2025 · 9:00 AM UTC

Dolphin (NASDAQ:DLPN) Named One of Crain's Best Places to Work in NYC 2025

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