MONTRÉAL, Aug. 13, 2024 (GLOBE NEWSWIRE) -- D-BOX Technologies Inc. ("D-BOX" or the "Corporation") (TSX:DBO) a world leader in haptic and immersive experiences, today reported financial results for the first quarter ended June 30, 2024. All dollar amounts are expressed in Canadian currency. Q1 FISCAL 2025 HIGHLIGHTS(Compared to Q1 fiscal 2024) Total revenues decreased 16% to $8.8 million due to continued softness in the theatrical market and timing differences in the simulation and training market Sim racing revenues increased $1.1 million 4 net new screens installed, bringing the total number of active D-BOX cinema screens to 933 as at June 30, 2024 Adjusted EBITDA was $263 thousand versus $1.3 million a year earlier The Corporation incurred a net loss of $316 thousand compared to net profit of $496 thousand in Q1 of 2024 "Our first quarter results reflect the continued softness in the theatrical market, as announced previously, and timing differences in the professional simulation and training market," said Sébastien Mailhot, President and Chief Executive Officer of D-BOX. "While occupancy rates for D-BOX seats in cinemas remained well above that of standard seating, supported by the appetite for premium offerings, the movie slate during the quarter was not as strong as a year ago; but we see an improved slate trending to the second half of calendar 2024 and beyond. Meanwhile, our sim racing sales were up in the quarter as we continue to see great traction for the D-BOX-equipped product offerings of our existing customers in this market." "In the meantime, we have been solidifying our positioning for driving profitable growth in line with our strategic decision to focus on commercial markets. With the recent addition of Jean-François Gagnon to the executive team, we have a streamlined sales and marketing structure. In August, we executed a more favorable credit agreement that provides us more capacity and flexibility for growth, as well as completed an organizational restructuring that will allow us to reduce our cost structure moving forward and tighten our commercial execution." (Amounts are in thousands of Canadian dollars)   Three-month periodsended June 30   2025 2024 Rights for use, rental and maintenance revenues 2,436 3,011 System sales revenues 6,326 7,480 Total revenues 8,762 10,491 Gross profit excluding amortization* 4,807 5,620 Net profit (loss) (316) 496 Adjusted EBITDA* 263