D-BOX Technologies Reports First Quarter 2020 Financial Results

D-BOX Technologies (TSX:DBO), immersive gaming and entertainment company announced its first quarter 2020 financial results. The motion technology company reported a 21 percent drop in revenues reaching US$7.5 million while adjusted EBITDA reached C$0.2 million for the quarter.

As quoted in the press release:

OPERATIONAL HIGHLIGHTS

• Set a new opening weekend record in D-BOX tickets sold with the Avengers: End Game.
• Grand opening of D-BOX at Cinesa’s La Morajela in Spain, a subsidiary of Odeon Group, an AMC Entertainment Company.
• Renewed distribution agreement with ECCO Cine Supply, a leading European distributor of cinematic technology services.
• Grand opening of the Parc Astérix’s theatre in France, featuring 300 D-BOX motion seats.
• LAI Games, a D-BOX partner, sold the 500th unit of the Virtual Reality game Raving Rabbids: The Big Ride.
• RS Simulation, a D-BOX partner, launched a new racing simulator.

“The grand opening of D-BOX at Cinesa in Spain was a big success. Not only was D-BOX’s contribution to the box office off to a strong start, we received a lot of attention from the local media.” said Claude Mc Master, D-BOX’s President and Chief Executive Officer. “In addition, ‘We are excited to work with Odeon Cinema, an AMC company, in Europe with its 360 locations and 2,900 screens in 14 European countries.”

Click here to read the full press release.