LONGUEUIL, QUÉBEC--(Marketwired - Nov. 10, 2015) - D-BOX Technologies inc. (TSX:DBO), a leader in immersive motion technology, today announced a 15% increase in revenues to $5.0 M in comparison to $4.4 M for the second quarter ended September 30, 2014 and a 33% increase to 420 screens signed in the last twelve months.


  • Growth in revenue:
    • Quarterly revenue up by 15% to $5,021 k:
      • Sales for the Entertainment market: +8% to $3,634 k;
      • Sales for the Industrial market: +39% to $1,387 k.
  • Net loss of $208 k for the quarter compared to net income of $192 k last year.
  • Adjusted EBITDA* of $132 k for the quarter compared to $372 k last year.
  • Cash flows generated from the operating activities of $943 k for the six-month period compared to a use of funds of $805 k last year.
  • Loan of $5,000 k received from the Caisse de dépôt et placement du Québec on August 5, 2015.
Second quarter and six-month period ended September 30
(in thousands of CAD, except per share amounts)
Second quarter Six months
2015 2014 2015 2014
Revenues 5,021 4,354 12,209 8,914
Adjusted EBITDA* 132 372 1,283 391
Net income (loss) (208 ) 192 (178 ) (1,013 )
Basic and diluted net income (loss) per share (0.0013 ) 0.0012 (0.0011 ) (0.0062 )
Information from the consolidated balance sheet
As at September 30, 2015 As at March 31, 2015
Cash and cash equivalents 11,535 6,710
* See the reconciliation table of adjusted EBITDA to the net income (loss) below.


  • In the last twelve months, D-BOX increased by 33% the number of screens signed to 420.
  • D-BOX continues its deployment in China, one of the fastest growing market in the world for commercial theatre exhibitors. As at September 30, 2015, D-BOX had 10 screens installed in the country compared to 1 screen installed as at September 30, 2014. Furthermore, D-BOX is actively pursuing its business development activities in this high-potential country.
  • D-BOX demonstrates its capacity to participate in the convergence between virtual reality and the entertainment world by establishing a partnership with Sony Pictures Entertainment (SPE) in the context of the launch of the Goosebumps movie. This partnership will serve as an important technological showcase for the D-BOX immersive experience in eleven cities across North America.
  • Progression in the industrial market with the installation of two new sites: the Museo Interactivo Audiovisual of Las Condes (Chile) (www.mui.cl), and the Richmond Olympic Experience (ROX), the first member of the network of museums of the international Olympic Committee located in North America (www.therox.ca).

Commenting on the quarterly results, Mr. Claude Mc Master, President and Chief Executive Officer of D-BOX, declared: "We are very pleased to demonstrate again that our second quarter results continue to show an upward trend in revenue and a positive adjusted EBITDA. Our growth strategy combined with a solid financial situation bodes well for the results of the upcoming quarters".


The financial information relating to the second quarter and six-month period ended September 30, 2015 should be read in conjunction with the Corporation's unaudited interim condensed consolidated financial statements and Management's Discussion and Analysis dated November 9, 2015. These documents are available at www.sedar.com


D-BOX focuses on two major development areas: the entertainment market and the industrial market which have their respective sub-markets. In light of the business development activities in each of these two markets, D-BOX anticipates the general upward trend in revenue to continue.

In combination with this expected growth of revenue, D-BOX also forecasts to gradually increase the level of its operating expenses aiming, amongst others, to support the sales and marketing of technological innovations that will help solidify D-BOX's position in existing sub-markets and will facilitate entering new ones. Generally speaking, the Corporation aims to maintain a positive adjusted EBITDA and intends to manage its operations accordingly.


The adjusted EBITDA provides useful and complementary information which allows, among other things, the evaluation of profitability and cash flows provided by operations. It is comprised of net income (loss) but excludes the following: items not affecting cash, foreign exchange gain or loss, financial expenses, interest income and income taxes.

The following table explains the reconciliation of adjusted EBITDA to the net income (loss).

Second quarter ended
September 30
Six-month period ended
September 30
(in thousands of $) 2015 2014 2015 2014
Net income (loss) (208 ) 192 (178 ) (1,013 )
Amortization of property and equipment 468 477 1,067 992
Amortization of intangible assets 137 121 267 197
Amortization of other assets 19 15 82 36
Write-off of property and equipment 44 18 134 72
Gain on disposal of property and equipment - - - (36 )
Share-based payments 62 105 119 220
Foreign exchange gain (493 ) (564 ) (334 ) (93 )
Financial expenses (income) 103 8 115 11
Income taxes - - 11 5
Adjusted EBITDA 132 372 1,283 391
** See the "Non-IFRS" measures section in the Management Discussion and Analysis dated November 9, 2015.


D-BOX Technologies Inc. designs, manufactures and commercialize cutting-edge motion systems intended for the entertainment and industrial markets. This unique and patented technology uses motion effects specifically programmed for each visual content which are sent to a motion system integrated into either a platform, a seat or any other product. The resulting motion is perfectly synchronized with the on-screen action, thus creating an unparalleled realistic immersive experience.

D-BOX®, D-BOX Motion Code®, LIVE THE ACTION®, MOTION ARCHITECTS® and MOVE THE WORLD® are trademarks of D-BOX Technologies Inc. Other names are for informational purposes only and may be trademarks of their respective owners.


Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information:

Luc Audet
Chief Financial Officer
D-BOX Technologies Inc.
450-442-3003, ext. 296

Investor Relations
Marc Jasmin CPA, CMA, President
PMJ Communications