Thunderbird Entertainment Group Inc (TSX-V:TBRD, OTCQX:THBRF) has announced fiscal 2021 revenue of C$111.5 million, a 37% year-over-year increase, which the company attributed to growth in its production services projects.
Thunderbird also said its free cash flow for the year increased 68% to C$12.3 million and that the company has no corporate debt.
“Not only do our fiscal 2021 results reflect our talented teams, trusted partnerships, and commitments and contributions to building global brands, they also validate the strategic decisions made regarding content development and demonstrate the early dividends from the long-term growth initiatives we have put in place,” Thunderbird Entertainment Group CEO Jennifer Twiner McCarron said in a statement.
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“We are continuing to build for our future, mapping out clear pathways and new initiatives that will be instrumental in Thunderbird’s continued growth,” Twiner McCarron added.
In addition, the company noted its adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization for 2021 improved 26% year over year to C$19.6 million.
Thunderbird added that it had 18 programs in various stages of production as of June 30, 2021.
Thunderbird Entertainment Group is building global entertainment brands for the world’s biggest broadcasters and streaming giants.
The Vancouver-based global multi-platform entertainment company produces award-winning scripted, unscripted and animated programming for the world’s leading digital platforms, as well as for Canadian and international broadcasters such as Netflix, Amazon Prime and Disney.
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