Destiny Media Technologies Widens Loss to $482,658 in H1 FY2026

Destiny Media Technologies Inc. (a digital music distribution and streaming software provider) posted a net loss of $482,658 for the six months ending February 28, 2026, compared with a net loss of $183,954 in the same period a year earlier. The loss per share was $0.05, versus $0.02 in the prior year. Read more earnings reports.

Revenue for the first half of fiscal 2026 totaled $2.25 million, essentially unchanged from $2.25 million in the first half of fiscal 2025. For the quarter ending February 28, 2026, revenue was $1.00 million, down 1.6% from $1.02 million in the year-earlier quarter.

Gross profit for the six-month period declined to $1.90 million from $1.94 million, while the quarterly gross profit fell to $835,000 from $870,000. The company reported an operating loss of $491,637 for the half-year period, compared with an operating loss of $198,855 in the prior year. The quarterly operating loss widened to $570,363 from $308,587.

Operating expenses climbed 11.7% to $2.39 million for the six months, up from $2.14 million. Research and development spending rose to $878,950 from $839,779 over the same period. The quarter ending February 28 saw operating expenses surge 19.3% to $1.41 million from $1.18 million.

Cash and cash equivalents stood at $1.15 million as of February 28, 2026, up from $1.12 million at the end of August 2025 but down from $1.22 million at the end of February 2025. The company generated $84,834 in cash from operations during the six-month period, compared with $47,646 in the prior-year period.

Total assets declined to $2.67 million as of February 28, 2026, from $2.97 million at August 31, 2025. Stockholders' equity fell to $1.94 million from $2.42 million over the same period. Retained deficit widened to $6.31 million from $5.83 million.

Accounts receivable increased to $928,382 from $863,422 at the prior fiscal year-end. Current liabilities rose to $731,818 from $544,255. The company reported 9.64 million shares outstanding as of February 28, 2026, unchanged from the prior year-end.

Financial Summary