$DLPN

Dolphin Entertainment, Inc.

CIK:0001282224|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 14,443,150	$ 14,087,529	$ 27,247,088	$ 26,257,240
Expenses:
Direct costs	1,028,326	742,171	1,812,977	1,086,585
Payroll and benefits	11,362,761	10,302,292	22,077,905	20,606,985
Selling, general and administrative	1,798,351	1,922,336	3,845,510	3,694,319
Depreciation and amortization	533,966	591,552	1,071,242	1,183,104
Acquisition cost				416,171
Legal and professional	750,808	586,232	1,606,946	1,100,656
Total expenses	15,474,212	14,144,583	30,414,580	28,087,820
Loss from operations	(1,031,062)	(57,054)	(3,167,492)	(1,830,580)
Other (expenses) income, net:
Change in fair value of convertible note	10,000	50,000	20,000	70,000
Loss on extinguishment of debt		(835,324)		(835,324)
Interest income	11,740	11,205	13,618	17,279
Interest expense	(578,568)	(561,222)	(1,128,398)	(1,121,310)
Total other (expenses) income, net	(556,828)	(1,335,341)	(1,094,780)	(1,869,355)
Loss before income taxes	(1,587,890)	(1,392,395)	(4,262,272)	(3,699,935)
Income tax expense	(17,652)	(21,523)	(35,304)	(43,045)
Net loss	$ (1,605,542)	$ (1,413,918)	$ (4,297,576)	$ (3,742,980)
Loss per share:
Basic	$ (0.13)	$ (0.13)	$ (0.34)	$ (0.33)
Diluted	$ (0.13)	$ (0.13)	$ (0.34)	$ (0.34)
Weighted average number of shares outstanding:
Basic	12,848,706	11,168,572	12,589,779	11,166,596
Diluted	12,848,706	11,232,511	12,589,779	11,230,535

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,297,576)	$ (3,742,980)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,071,242	1,183,104
Allowance for credit losses	171,801	55,754
Change in fair value of convertible notes	(20,000)	(70,000)
Deferred income tax expense	35,304	43,045
Loss on extinguishment of debt		835,324
Impairment of deferred production cost	30,730
Amortization of debt premium	(129,392)
Debt origination costs amortization	21,858	7,012
Changes in operating assets and liabilities:
Accounts receivable, trade and other	70,730	(1,468,838)
Other current assets	249,527	(183,247)
Capitalized production costs	(26,966)	(33,849)
Other long-term assets and employee receivable	(31,855)	(64,775)
Deferred revenue	224,969	1,239,960
Accounts payable	(581,273)	822,295
Accrued interest – related party	241,392	290,552
Other current liabilities	817,326	944,010
Other noncurrent liabilities		(18,915)
Lease liability, operating leases	(112,384)	(74,177)
Lease liability, finance leases	60,443	38,203
Net cash used in operating activities	(2,204,124)	(197,522)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(1,850)	(1,088)
Net cash used in investing activities	(1,850)	(1,088)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible note payable	850,000	1,900,000
Proceeds from notes payable		550,000
Proceeds from term loans	1,280,000
Debt origination costs	(93,472)
Repayment of contingent consideration		(486,000)
Repayment of term loan	(863,032)	(833,977)
Repayment of revolving line of credit		(400,000)
Principal payments on finance leases	(58,499)	(37,895)
Net cash (used in) provided by financing activities	1,114,997	692,128
Net (decrease) increase in cash and cash equivalents and restricted cash	(1,090,977)	493,518
Cash and cash equivalents and restricted cash, beginning of period	9,681,589	9,128,846
Cash and cash equivalents and restricted cash, end of period	8,590,612	9,622,364
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
Interest paid	932,648	767,261
Lease liabilities arising from obtaining right-of-use assets	31,325	55,888
SUPPLEMENTAL DISCLOSURES OF NON-CASH FLOWS INFORMATION:
Convertible notes payable and interest converted into shares of common stock	814,467
Equity-based compensation	12,500
Cash and cash equivalents	7,665,608	8,697,360
Restricted cash	925,004	925,004
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 8,590,612	$ 9,622,364

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current
Cash and cash equivalents	$ 7,665,608	$ 8,756,585
Restricted cash	925,004	925,004
Accounts receivable:
Trade, net of allowance of $411,806 and $1,327,808, respectively	7,025,142	7,848,970
Other receivables	5,825,228	5,243,931
Other current assets	929,970	1,179,498
Total current assets	22,370,952	23,953,988
Capitalized production costs, net	516,574	520,338
Employee receivable	1,228,085	1,196,085
Right-of-use assets	2,207,557	3,012,941
Goodwill	21,507,944	21,507,944
Intangible assets, net	6,852,855	7,898,607
Property, equipment and leasehold improvements, net	27,320	50,961
Other long-term assets	189,151	189,296
Total Assets	54,900,438	58,330,160
LIABILITIES
Accounts payable	2,515,443	3,096,715
Term loans, current portion	1,890,056	1,813,760
Revolving line of credit	400,000	400,000
Notes payable, current portion	3,900,000	3,500,000
Convertible notes payable, current portion	1,200,000	1,250,000
Accrued interest – related party	2,284,479	2,043,087
Accrued compensation – related party	2,625,000	2,625,000
Lease liabilities, current portion	1,449,843	1,912,482
Deferred revenue	1,019,146	794,177
Other current liabilities	11,897,478	11,096,820
Total current liabilities	29,181,445	28,532,041
Noncurrent
Term loans, noncurrent portion	3,245,988	2,976,930
Notes payable, noncurrent portion	4,180,000	4,580,000
Convertible notes payable	6,550,000	6,460,000
Convertible notes payable – related party	2,774,965	2,904,357
Convertible note payable at fair value	250,000	270,000
Loans from related party	983,112	983,112
Lease liabilities	1,016,199	1,469,386
Deferred tax liability	499,213	463,909
Total Liabilities	48,680,922	48,639,735
STOCKHOLDERS’ EQUITY
Preferred Stock, Series C, $0.001 par value, 50,000 shares authorized, 50,000 shares issued and outstanding at June 30, 2026 and December 31, 2025	1,000	1,000
Common stock, $0.015 par value, 200,000,000 shares authorized, 13,025,551 and 12,221,432 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	195,384	183,321
Additional paid-in capital	159,623,905	158,809,301
Accumulated deficit	(153,600,773)	(149,303,197)
Total Stockholders’ Equity	6,219,516	9,690,425
Total Liabilities and Stockholders’ Equity	$ 54,900,438	$ 58,330,160