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La THUNDERBIRD THUNDERBIRD ENTERTAINMENT GROUP INC . Thunderbird Entertainment Group Reports on Second Quarter Fiscal Year 2021 Results Q2 2021 Revenue $ 28 million , an increase of 98 % year - over - year Adjusted EBITDA $ 5.2 million , an increase of 160 % year - over - year 21 programs in production in Q2 , with 10 being owned- or partnered - IP Conference call and webcast scheduled for February 25 at 11 a.m. PT / 2 p.m. ET Vancouver , Canada , February 24 2021 Thunderbird Entertainment Group Inc. ( TSXV : TBRD , OTCQX : THBRF ) ( Thunderbird or the Company ) , today announced its financial results for the second quarter ended December 31 , 2020 ( " Fiscal 2021 ” ) , and provided a corporate update . Financial Highlights • • • • The Company recognized revenue of $ 28.0 million and $ 47.7 million in the three and six months ended December 31 , 2020 , increases of 98 % ( $ 13.9 million ) and 56 % ( $ 17.1 million ) over the comparative periods . Adjusted EBITDA was $ 5.2 million and $ 10.0 million for the three and six months ended December 31 , 2020 compared to $ 2.0 million and $ 5.7 million for the comparative periods in fiscal 2020 , increases of $ 3.2 million and $ 4.3 million , respectively . These increases are primarily due to growth in the Kids and Family Division . Production services revenue for the three and six months ended December 31 , 2020 increased by 63 % ( $ 7.4 million ) and 53 % ( $ 11.7 million ) over the comparative periods , due to an increase in the number and size of contracts . This revenue consists primarily of animation production services , which experienced continued growth . Licensing and distribution revenues increased by 272 % ( $ 6.4 million ) and 63 % ( $ 5.3 million ) for the three and six months ended December 31 , 2020 over the comparative periods , due mainly to the timing of delivery of the animated series The Last Kids on Earth . In the current quarter , the Company recognized revenue from 10 episodes of The Last Kids on Earth and six episodes of the factual series Highway Thru Hell . In the comparative quarter , revenue was recognized from seven episodes of Highway Thru Hell . Free cash flow was $ 4.4 million and $ 5.6 million for the three and six months ended December 31 , 2020 as compared to ( $ 3.8 ) million and $ 0.2 million for the comparative periods , increases of $ 8.2 million and $ 5.4 million , respectively . 400-2233 Columbia Street Vancouver , BC V5Y 0M6 Tel : 604.683.3555