Southport Acquisition (US:PORT)2025-11-13 21:10Revenue Growth - Third quarter revenue reached $76.5 million, representing a 280% year-over-year growth[4] - Revenue for the nine-month period totaled $211.6 million, a 223% increase compared to the same period last year[4] - The Angel Guild, the company's recurring revenue stream, contributed $59.2 million, accounting for 77% of total third quarter revenue, with a growth of 556% year-over-year[4] - Licensed content and other revenue surged to $76.39 million in Q3 2025, up from $18.42 million in Q3 2024, representing a growth of 314%[18] - The company raised $130.35 million from financing activities in the nine months ended September 30, 2025, compared to $25.03 million in 2024, indicating a growth of 420%[19] Membership and Engagement - The Angel Guild membership grew to 1.6 million, up 19% from the previous quarter and 620% year-over-year[4] - Average Revenue Per Member (ARPM) was $13.70 for the trailing twelve months ended September 30, 2025[4] Financial Losses - The net loss for the third quarter was $38.6 million, compared to a net loss of $13.9 million in the same quarter of 2024[10] - Operating loss for the nine months ended September 30, 2025, was $93.23 million, compared to a loss of $57.96 million for the same period in 2024, reflecting a 61% increase in losses[18] - Net loss attributable to controlling interests for the nine months ended September 30, 2025, was $91.85 million, compared to $51.18 million in 2024, indicating an increase of 79%[18] Expenses - Selling and marketing expenses for the third quarter were $64.7 million, significantly up from $16.6 million in the prior year[8] - Total operating expenses for the nine months ended September 30, 2025, were $304.86 million, up from $123.45 million in 2024, representing a 147% increase[18] - Cash paid for interest in the nine months ended September 30, 2025, was $7.51 million, a significant increase from $456,144 in 2024[20] Cash and Assets - As of September 30, 2025, cash and cash equivalents were $63.3 million, compared to $7.2 million at the end of 2024[11] - Cash and cash equivalents at the end of Q3 2025 totaled $63.33 million, a substantial increase from $11.34 million at the end of Q3 2024[19] - Net cash used in operating activities for the nine months ended September 30, 2025, was $58.65 million, compared to $39.58 million in 2024, marking a 48% increase in cash outflow[19] - The company reported a net gain on digital assets of $6.23 million for the nine months ended September 30, 2025, compared to $1.59 million in 2024, reflecting a growth of 291%[19] Liabilities and Acquisitions - Total liabilities as of September 30, 2025, were $159.8 million, an increase from $94.7 million at the end of 2024[17] - The company announced the acquisition of the DAVID franchise and intellectual property from Slingshot USA, with the film set to release on December 19, 2025[3]