Q4 2024 Spin Master Corp Earnings Call Transcript

Feb 25, 2025 / 02:30PM GMT

Release Date Price: $19.85 (-8.42%)

Transcript

Key Points

Positve

Spin Master Corp (SNMSF) achieved total revenue of $2.3 billion in 2024, marking an 18.8% increase, with significant contributions from Melissa & Doug.
The company reported a strong fourth-quarter revenue of $649.1 million, up 29.1%, driven by toys and video games.
Digital Games revenue increased by 13.5% in Q4 due to high in-game purchases and subscription growth.
Spin Master Corp (SNMSF) ended Q4 with 61.2 million monthly active users, up from 50.5 million at the end of Q3.
The company generated $175 million in free cash flow in Q4, significantly higher than the previous year, and returned $82 million to shareholders in 2024.

Negative

PAW Patrol POS declined in both Q4 and 2024, although it remained the top preschool toy property globally.
Entertainment revenue decreased by $13.9 million in Q4 and $31 million for 2024 due to fewer content deliveries.
The company faced challenges in Digital Games earlier in the year, resulting in a revenue decline of over $9 million for 2024.
Spin Master Corp (SNMSF) made the decision to wind down the Nørdlight studio and halt Rubik's Match development due to underperformance.
The company is cautious about potential US tariffs on China-sourced toys, which could impact future financial performance.

Operator

Good morning, ladies and gentlemen, and welcome to Spin Master's financial results conference call for the fourth-quarter and full year 2024 conference call. (Operator Instructions) This call is being recorded on Tuesday, February 25, 2025. I would now like to turn the conference over to Sophia Bisoukis. Please go ahead.

Sophia Bisoukis

Spin Master Corp - Vice President, Finance & Investor Relations

Thank you, and good morning. Welcome to Spin Master's financial results conference call for the fourth-quarter and full year 2024. I'm joined this morning by Max Rangel, Spin Master's Global President and CEO; and Mark Segal, Spin Master's Chief Financial Officer.

For your convenience, the press release, MD&A and consolidated financial statements are available on the Investor Relations section of our website at spinmaster.com and on SEDAR+. Before we begin, please note that remarks on this conference call may contain forward-looking statements about Spin Master's current and future plans, expectations, intensions, results, level of activity,

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