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WildBrain • • • WILDBRAIN REPORTS Q1 2022 RESULTS Revenue increased 18 % to $ 112.6 million in Q1 2022 , compared to $ 95.5 million in Q1 2021 . Net loss of $ 21.4 million in Q1 2022 , compared to net loss of $ 3.3 million in Q1 2021 , mainly due to a non- cash , foreign exchange loss of $ 13.0 million in the current quarter vs a foreign exchange gain of $ 5.1 million in Q1 2021 . Cash used in operating activities in Q1 2022 was $ 11.4 million , compared to $ 19.6 million provided by operating activities in Q1 2021 . Free Cash Flow¹ for Q1 2022 was negative $ 19.9 million , compared with negative Free Cash Flow of $ 2.7 million in Q1 2021 , primarily due to increased accounts receivables arising from larger deals concluded during the quarter and timing of working capital settlements . Adjusted EBITDA¹ in Q1 2022 increased 13 % to $ 19.9 million , compared with $ 17.5 million in Q1 2021 . Consumer Products revenue grew 25 % to $ 48.5 million in Q1 2022 , compared to $ 38.8 million in Q1 2021 . WildBrain Spark ( “ Spark ” ) revenue increased 73 % to $ 15.4 million in Q1 2022 , compared to $ 8.9 million in Q1 2021 . Halifax , NS – November 9 , 2021 - WildBrain Ltd. ( “ WildBrain ” or the “ Company ” ) ( TSX : WILD ) , a global leader in kids ' and family entertainment , today reported its Fiscal 2022 first - quarter results for the three - months ended September 30 , 2021 ( " Q1 2022 ” ) . Eric Ellenbogen , WildBrain CEO , said : “ Our first - quarter results reflected a return to growth at WildBrain Spark as well as strong consumer products performance . Spark revenue was up 73 % in Q1 2022 , driven by improving advertising rates and our focus on higher - value views . Our vast library of high - quality owned content is the cornerstone of our leading digital network on YouTube , yielding valuable data and insights . This , together with our holistic approach to content monetization , is what really differentiates us and continues to bring top IP partners to Spark . As YouTube continues to favour quality content , we expect to realize even greater benefits from our network . We're also extending our capabilities across other digital platforms , such as the recently announced exclusive direct- advertising services partnership with Gamefam , one of the top game publishers on Roblox . " Ellenbogen added : “ In consumer products , we expect our momentum to build in the coming quarters and years , supported by new brand activations and content releases across Strawberry Shortcake , Sonic , Teletubbies , Yo Gabba Gabba ! and others . For Peanuts , our consistent output of new content on Apple TV + is further engaging global audiences . Season 2 of Snoopy in Space debuts this week , and the first new Peanuts special , For Auld Lang Syne , premieres in December . As we switch on more and more IP , we're fully harnessing our 360 - degree capabilities across production , distribution and licensing and , in turn , realizing the long - term earnings ' power of our assets . " Aaron Ames , WildBrain CFO , added : “ Q1 2022 reflected the early returns from the investments we've made across our business . We continue to unlock new monetization opportunities at Spark to generate a bigger portion of revenue through nascent areas , including digital production , direct ad sales and paid media , which collectively grew 128 % in the current quarter , over Q1 2021. We're also realizing synergies of our vertically integrated business by aggregating our Peanuts representation across Europe and the Middle East , which contributed to higher consumer products revenue in Q1 2022. Our investments provide a solid foundation , positioning us for sustainable growth and margin expansion in Fiscal 2022 and beyond . ” Vancouver New York 5657 Spring Garden Road Suite 505 380 West 5th Avenue Vancouver , BC V5Y 1J5 Canada 352 Park Avenue So. FL 8 New York , NY 10010 USA Toronto 25 York St. Suite 1201 Toronto , ON M5J 2V5 Canada t +1 416 363 8034 Halifax Halifax , NS B3J 3R4 Canada t +1 902 423 0260 t +1 604 684 2363 t + 1 212 293 8555 London 183 Eversholt Street London , NW1 1BU United Kingdom t +44 ( 0 ) 20 7631 3931