Dolphin Entertainment, Inc. (DLPN) Q3 2025 Earnings Call Transcript
Revenue $14.8 million, an increase of 16.7% year-over-year from $12.7 million. The growth was entirely organic, driven by the consistency and strength of core subsidiaries and the scalability of the cross-selling operating model.
Operating Income $308,296, compared to an operating loss of $8.2 million in the same period last year. This improvement reflects the company's healthy organic growth and margin expansion.
Adjusted Operating Income Approximately $1 million, up from $492,620 in the same period last year. This increase is attributed to the scalability of the cross-selling operating model and the strength of core subsidiaries.
Operating Expenses $14.5 million, down from $20.8 million in Q3 2024. The decrease is due to lower depreciation, amortization, and nonrecurring or noncash expenses.
Net Loss $365,494, compared to a net loss of $8.7 million in Q3 2024. The improvement is due to reduced operating expenses and noncash expenses.
Diluted Loss Per Share $0.03 per share, compared to $0.80 per share in Q3 2024. This reflects the overall improvement in financial performance.
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- Innovative Treatment Device: NET Recovery's NET Device™ is FDA-cleared, with research indicating it can significantly reduce opioid and stimulant use. Patients using the device for over 24 hours during opioid withdrawal reported fewer days of drug use in the three months post-discharge, highlighting its potential in addiction treatment.
- National Launch Program: The company has launched a national treatment program aimed at expanding access to non-pharmacological support for patients across the U.S. This initiative allows patients to receive withdrawal relief and early stabilization support from home for the first time, reducing barriers related to cost, geography, and stigma.
- Research Findings Release: A recent peer-reviewed study shows the NET Device™ as the first medical device to demonstrate a reduction in both opioid and stimulant use, underscoring its significance in addressing the addiction crisis. CEO Joe Winston noted that quick and safe withdrawal relief helps patients stay in treatment longer, increasing the likelihood of long-term recovery.
- Brand Communication Strategy: Elle Communications is tasked with establishing NET Recovery's brand, aiming to reshape public and medical perceptions of opioid withdrawal management. Through comprehensive strategic communication services, Elle ensures NET Recovery effectively conveys the value of its treatment solutions, engaging diverse stakeholders' attention and support.
Record Financial Performance: Dolphin Entertainment reported a record revenue of $14.1 million for Q2 2025, marking a 23% year-over-year increase and achieving positive adjusted operating income, while launching its Tastemakers division to enhance long-term value creation.
Cost Reduction and Margin Expansion: The company anticipates significant annualized savings from lease expirations and loan repayments by late 2028, which will contribute to margin expansion and increased cash flow, alongside ongoing investments in new revenue streams.

Earnings Performance: Dolphin Entertainment reported a record revenue of $14.1 million for Q2 2025, marking a 23% year-over-year increase, alongside an adjusted operating income of $600,000 and a narrowed net loss of $1.4 million.
Strategic Initiatives: The company launched the Tastemakers division to enhance integrated services, expects significant free cash flow in the coming years as investments decrease, and remains optimistic about growth from subsidiary performance and upcoming content ventures like Youngblood.







