10-Q · May 12, 2026
Dolphin Entertainment reported a strong Q4 2025 with revenue reaching $15.6 million, outperforming both its estimates and prior periods. The company achieved a notable EPS of $0.09, reflecting significant operational…
Earnings analysis · 10-Q
DLPN earnings analysis
Filed August 12, 2026 · Our reading of the company's report
The latest report
Dolphin delivered $14.443 million of revenue, up 2.5% year over year, and EPS improved sequentially to $(0.13), but the company missed the $(0.07) consensus estimate. Profitability deteriorated, with an approximately…
Read full summary
Dolphin delivered $14.443 million of revenue, up 2.5% year over year, and EPS improved sequentially to $(0.13), but the company missed the $(0.07) consensus estimate. Profitability deteriorated, with an approximately $1.0 million operating loss and adjusted EBITDA declining to $242,923 from $627,905. The $400,000 convertible-note financing improves near-term liquidity but adds 10% interest costs and potential dilution. Management provided no numerical guidance, but expects meaningful sequential improvement in Q3 profitability.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.13
- Operating margin
- -6.9%
What stood out
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Revenue Returned to Sequential Growth
Revenue was $14.443 million, up 2.5% year over year and approximately 11% sequentially from $13 million in Q1 2026.
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EPS Improved Sequentially, Missed Estimates
EPS improved to $(0.13) from $(0.22) in Q1 2026, although it was below the $(0.07) consensus estimate.
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Adjusted EBITDA Declined
Adjusted EBITDA declined to $242,923 from $627,905 in the prior-year quarter, reflecting weaker operating leverage despite revenue growth.
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Convertible Financing Added Liquidity
The company raised $400,000 through three convertible notes bearing 10% annual interest, providing additional working-capital liquidity.
What to watch
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Operating Loss Expanded
Operating loss widened to approximately $1.0 million, versus an operating loss of approximately $56,000 in Q2 2025 based on the reported 0.4% operating margin, resulting in an operating margin of approximately negative 6.9%.
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Profitability Headwinds Persist
Adjusted EBITDA fell to $242,923 from $627,905, indicating that retention-bonus and litigation-cost headwinds materially offset the $14.443 million of quarterly revenue.
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Convertible Debt and Dilution Risk
The company issued $400,000 of convertible notes at 10% interest; conversion prices range from $1.09 to $1.19 per share, creating interest expense and potential dilution.
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Existing Note Terms Became More Dilutive
A previously issued $100,000 note was amended to extend maturity to July 27, 2028 and reduce the conversion price to $1.00 per share, increasing potential dilution at a lower conversion price.
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Limited Risk-Factor Update
Item 1A states that risk-factor disclosure was not required because the company is a smaller reporting company, limiting the filing's update on changes to material risks.
Management's outlook
No formal numerical revenue or EPS guidance was provided. Management expects a meaningful sequential improvement in Q3 profitability as retention-bonus and litigation-cost headwinds subside; quantitative outlook was deferred to the earnings release/call.
Earlier filings 4
10-K · April 30, 2026
Dolphin Entertainment reported a strong Q4 2025, achieving revenue of approximately $16 million, and a GAAP diluted EPS of $0.09, surpassing both its revenue and EPS estimates. For the full year 2025, revenue improved…
10-K · March 27, 2026
Dolphin Entertainment reports continued topline recovery with fiscal 2025 revenue of approximately $57.0M (Q1–Q4 sum) versus $51.0M in 2024, driven by strength in its entertainment publicity and marketing businesses.…
10-Q · August 14, 2025
Dolphin Entertainment reported Q2 revenue of $14,087,529, beating the prior-year quarter ($11,449,089) and prior quarter (~$12.0M), while GAAP diluted EPS was a loss of $(0.13). Gross margin remained very high at ~94.7%…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.