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Complete financial analysis of The Singing Machine Company, Inc. (MICS) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of The Singing Machine Company, Inc., a leading company in the Consumer Electronics industry within the Technology sector.
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The Singing Machine Company, Inc. (MICS)
About The Singing Machine Company, Inc.
The Singing Machine Company, Inc., together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Europe, and Australia. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone accessories and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware. The company primarily sells its products to retailers, including national chains, warehouse clubs, department stores, lifestyle merchants, specialty stores, and direct mail catalogs and showrooms. The Singing Machine Company, Inc. was incorporated in 1982 and is headquartered in Fort Lauderdale, Florida.
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 38.93M | 39.30M | 47.51M | 45.80M | 41.42M | 46.48M | 60.81M | 52.92M | 48.86M | 39.31M | 31.38M | 34.44M | 25.94M | 19.17M | 21.28M | 31.78M | 34.07M | 26.73M | 32.31M | 38.21M | 70.54M | 95.61M | 61.83M | 34.31M | 19.03M | 9.55M | 6.23M | 10.67M | 5.20M |
| Cost of Revenue | 30.68M | 30.09M | 36.70M | 33.51M | 30.32M | 34.71M | 45.14M | 39.08M | 36.94M | 31.00M | 24.27M | 26.37M | 20.29M | 14.92M | 17.29M | 25.84M | 26.39M | 20.62M | 25.22M | 28.95M | 68.28M | 72.33M | 41.45M | 22.17M | 13.61M | 7.03M | 5.05M | 9.15M | 4.79M |
| Gross Profit | 8.25M | 9.21M | 10.81M | 12.30M | 11.10M | 11.77M | 15.67M | 13.84M | 11.92M | 8.31M | 7.11M | 8.07M | 5.65M | 4.24M | 3.99M | 5.94M | 7.68M | 6.12M | 7.08M | 9.26M | 2.26M | 23.28M | 20.38M | 12.13M | 5.42M | 2.52M | 1.18M | 1.53M | 404.70K |
| Gross Profit Ratio | 21.20% | 23.43% | 22.76% | 26.85% | 26.79% | 25.33% | 25.77% | 26.15% | 24.40% | 21.14% | 22.65% | 23.43% | 21.78% | 22.15% | 18.74% | 18.70% | 22.54% | 22.88% | 21.92% | 24.25% | 3.21% | 24.35% | 32.96% | 35.37% | 28.48% | 26.38% | 18.90% | 14.33% | 7.79% |
| Research & Development | 0.00 | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K | 200.00K | 141.20K | 196.85K | 114.53K | 200.55K | 70.87K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 10.53M | 9.24M | 6.91M | 6.53M | 6.56M | 5.79M | 6.37M | 5.65M | 5.15M | 4.51M | 4.26M | 3.31M | 2.54M | 2.58M | 3.39M | 4.35M | 0.00 | 4.95B | 9.07M | 10.29M | 19.67M | 16.64M | 9.77M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 4.96M | 3.44M | 3.59M | 3.98M | 7.20M | 5.12M | 4.88M | 5.04M | 4.66M | 3.10M | 2.40M | 3.08M | 2.47M | 1.84M | 3.11M | 3.16M | 0.00 | 2.31B | 168.74K | 597.82K | 2.34M | 5.03M | 2.38M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 16.44M | 12.68M | 10.50M | 10.51M | 13.77M | 10.91M | 11.25M | 10.68M | 9.81M | 7.61M | 6.66M | 6.39M | 5.01M | 4.41M | 6.50M | 7.51M | 7.21M | 7.26M | 9.24M | 10.88M | 22.01M | 21.67M | 12.14M | 6.81M | 3.78M | 1.54M | 2.28M | 2.37M | 2.51M |
| Other Expenses | 0.00 | 228.00K | 245.89K | 298.36K | 269.11K | 259.66K | 219.97K | 166.03K | 171.79K | 130.25K | 168.14K | 110.27K | 171.82K | 430.12K | 439.43K | 459.35K | 311.27K | 556.05K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 116.37K | 0.00 | 358.27K | 2.59M | 1.34M |
| Operating Expenses | 16.39M | 12.91M | 10.75M | 10.81M | 14.04M | 11.17M | 11.47M | 10.85M | 9.98M | 7.74M | 6.83M | 6.50M | 5.18M | 4.84M | 6.94M | 7.97M | 7.52M | 7.82M | 9.24M | 10.88M | 22.01M | 21.67M | 12.14M | 6.81M | 3.90M | 1.54M | 2.64M | 4.96M | 3.84M |
| Cost & Expenses | 47.06M | 43.00M | 47.44M | 44.31M | 44.36M | 45.88M | 56.60M | 49.93M | 46.92M | 38.74M | 31.10M | 32.87M | 25.47M | 19.76M | 24.23M | 33.80M | 33.91M | 28.43M | 34.46M | 39.83M | 90.29M | 94.00M | 53.59M | 28.98M | 17.51M | 8.57M | 7.69M | 14.10M | 8.63M |
| Interest Income | 398.67K | 479.32K | 580.25K | 473.97K | 254.04K | 257.93K | 0.00 | 0.00 | 0.00 | 901.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 0.00 | 432.70K | 535.20K | 412.27K | 240.71K | 244.59K | 273.39K | 189.23K | 261.06K | 253.28K | 53.45K | 48.42K | 7.80K | 20.87K | 94.98K | 131.76K | 154.67K | 13.33K | 0.00 | 1.97M | 2.17M | 197.65K | 50.82K | 839.57K | 947.98K | 219.50K | 121.08K | 447.24K | 412.71K |
| Depreciation & Amortization | 382.67K | 228.00K | 245.89K | 298.36K | 269.11K | 259.66K | 219.97K | 166.03K | 171.79K | 130.25K | 168.14K | 110.27K | 171.82K | 430.12K | 439.43K | 459.35K | 311.27K | 556.05K | 2.55M | 1.65M | 1.66M | 622.30K | 394.46K | 301.06K | 116.37K | 144.23K | 177.27K | 400.08K | 226.95K |
| EBITDA | -7.81M | -3.47M | 281.31K | 3.34M | -2.98M | 1.30M | 1.19M | 3.08M | 2.03M | 646.40K | 447.10K | 1.68M | 642.73K | -168.56K | -2.52M | -1.56M | 467.66K | -1.03M | 388.44K | 27.92K | -18.54M | 2.24M | 8.63M | 5.33M | 1.64M | 1.12M | -1.29M | -1.42M | -2.81M |
| EBITDA Ratio | -20.06% | -7.16% | 0.59% | 4.25% | -6.49% | 1.83% | 7.23% | 5.82% | 4.16% | 1.64% | 1.42% | 4.88% | 2.48% | -0.88% | -11.83% | -4.92% | 1.45% | -4.39% | -6.09% | -0.46% | -25.05% | 2.13% | 13.89% | 17.77% | 13.10% | 13.98% | -18.71% | -10.67% | -49.23% |
| Operating Income | -8.19M | -3.70M | 35.42K | 1.43M | -2.94M | 1.05M | 1.00M | 2.99M | 1.94M | 568.61K | 278.97K | 1.57M | 470.91K | -598.67K | -2.96M | -2.02M | 156.38K | -1.70M | -2.16M | -1.62M | -20.20M | 1.61M | 8.24M | 5.03M | 1.53M | 973.65K | -1.46M | -3.43M | -3.44M |
| Operating Income Ratio | -21.04% | -9.41% | 0.07% | 3.11% | -7.10% | 2.26% | 1.65% | 5.64% | 3.96% | 1.45% | 0.89% | 4.56% | 1.82% | -3.12% | -13.89% | -6.36% | 0.46% | -6.37% | -6.68% | -4.24% | -28.63% | 1.69% | 13.32% | 14.65% | 8.02% | 10.20% | -23.50% | -32.11% | -66.18% |
| Total Other Income/Expenses | -340.00K | 90.30K | 218.78K | 1.20M | -254.04K | -257.93K | -304.99K | -263.31K | -335.14K | -305.75K | -53.45K | -48.42K | -7.80K | -20.88K | -94.98K | -131.75K | -154.67K | -126.24K | 254.17K | -1.97M | -1.73M | -197.65K | -50.82K | -839.57K | -947.98K | -219.50K | -121.08K | -447.24K | -412.71K |
| Income Before Tax | -8.53M | -3.61M | 287.78K | 2.63M | -3.50M | 791.03K | 697.36K | 2.72M | 1.60M | 262.86K | 225.52K | 1.52M | 463.12K | -619.55K | -3.05M | -2.15M | 1.71K | -1.71M | -1.91M | -3.59M | -21.92M | 1.42M | 8.18M | 4.19M | 577.69K | 754.16K | -1.59M | -3.88M | -3.85M |
| Income Before Tax Ratio | -21.91% | -9.18% | 0.61% | 5.74% | -8.45% | 1.70% | 1.15% | 5.15% | 3.28% | 0.67% | 0.72% | 4.42% | 1.79% | -3.23% | -14.34% | -6.78% | 0.01% | -6.42% | -5.90% | -9.40% | -31.08% | 1.48% | 13.24% | 12.21% | 3.04% | 7.90% | -25.44% | -36.30% | -74.12% |
| Income Tax Expense | 1.03M | 1.03M | 57.30K | 456.87K | -641.81K | 159.48K | 544.88K | 1.02M | -101.38K | 92.70K | -778.80K | -1.62M | 7.80K | 20.87K | 94.98K | 36.65K | 154.67K | -2.45M | -254.17K | 1.97M | 758.51K | 198.77K | 119.28K | 23.32K | -160.30K | -170.00K | -557.53K | 447.24K | 412.71K |
| Net Income | -8.53M | -4.64M | 230.00K | 2.17M | -2.86M | 631.55K | 152.49K | 1.71M | 1.70M | 170.16K | 1.00M | 3.14M | 463.12K | -619.55K | -3.05M | -2.19M | 1.71K | 738.59K | -1.91M | -3.59M | -22.68M | 1.22M | 8.07M | 4.16M | 737.99K | 924.16K | -906.59K | -3.88M | -3.85M |
| Net Income Ratio | -21.91% | -11.80% | 0.48% | 4.74% | -6.90% | 1.36% | 0.25% | 3.22% | 3.49% | 0.43% | 3.20% | 9.12% | 1.79% | -3.23% | -14.34% | -6.89% | 0.01% | 2.76% | -5.90% | -9.40% | -32.16% | 1.27% | 13.04% | 12.14% | 3.88% | 9.68% | -14.55% | -36.30% | -74.12% |
| EPS | -1.76 | -1.65 | 0.14 | 1.68 | -2.22 | 0.49 | 0.12 | 1.20 | 1.20 | 0.13 | 0.90 | 2.48 | 0.30 | -0.49 | -2.44 | -2.01 | -0.15 | 0.90 | -5.70 | -11.83 | -79.44 | 4.50 | 26.40 | 17.70 | 4.64 | 7.47 | -48.56 | -275.18 | -274.46 |
| EPS Diluted | -1.75 | -1.65 | 0.14 | 1.67 | -2.22 | 0.48 | 0.12 | 1.20 | 1.20 | 0.13 | 0.90 | 2.46 | 0.30 | -0.49 | -2.44 | -2.01 | -0.15 | 0.90 | -5.70 | -11.83 | -79.44 | 4.20 | 23.70 | 15.00 | 3.79 | 7.13 | -48.56 | -275.18 | -274.46 |
| Weighted Avg Shares Out | 4.85M | 2.81M | 1.61M | 1.29M | 1.28M | 1.28M | 1.28M | 1.27M | 1.27M | 1.27M | 1.27M | 1.27M | 1.26M | 1.26M | 1.25M | 1.09M | 997.53K | 704.83K | 334.30K | 303.74K | 285.54K | 270.48K | 238.64K | 208.83K | 136.30K | 123.77K | 18.67K | 14.08K | 14.03K |
| Weighted Avg Shares Out (Dil) | 4.86M | 2.81M | 1.62M | 1.30M | 1.28M | 1.31M | 1.32M | 1.31M | 1.29M | 1.29M | 1.29M | 1.28M | 1.26M | 1.26M | 1.25M | 1.09M | 1.03M | 825.13K | 334.30K | 303.74K | 285.54K | 297.71K | 264.78K | 246.42K | 167.09K | 129.61K | 18.67K | 14.08K | 14.03K |
The Singing Machine Company, Inc. (MICS) Q2 2024 Earnings Call Transcript
The Singing Machine Company, Inc. (NASDAQ:MICS ) Q2 2024 Earnings Conference Call August 19, 2024 4:00 PM ET Company Participants Gary Atkinson - Chief Executive Officer Richard Perez - Chief Financial Officer Bernardo Melo - Chief Revenue Officer Vivek Sehgal...
Singing Machine to Announce its Financial Results for the Second Quarter of 2024
Fort Lauderdale, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today announced that its earnings for its second quarter of...
Singing Machine Launches Official TikTok Shop
Company Significantly Expands Socia Media-Based Marketing Capabilities Through New TikTok Shop Seller Storefront
Singing Machine's Subsidiary, SemiCab, Announces Over $9 Million Contracted Revenue Backlog
SemiCab India Expected to Add Over $9 Million in Revenue in 2024 Fort Lauderdale, FL, July 16, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, recently announced...
Singing Machine Completes Acquisition of Leading AI Logistics Company
Company Now Well Positioned for Accelerated Revenue Growth Fort Lauderdale, FL, July 05, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced it has successfully completed...
Singing Machine to Acquire SemiCab, a Leading AI Logistics Technology Company
SemiCab Generated $6 Million Revenue in 2023 Fort Lauderdale, FL, June 12, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced it has executed a definitive...
Company Announces Strategic Alternatives
Fort Lauderdale, FL, May 23, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced its Executive Committee of the Board of Directors has authorized management to...
Singing Machine Secures $2 Million Senior Credit Facility
Company Expands Non-Dilutive Working Capital Funding to Support Growth Fort Lauderdale, FL, April 03, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced the closing of...
Company Generates Record Subscriptions Sales for 2023 Holiday Season
Karaoke Subscription Service Generated $3.28 Million in Sales, 35% Increase Year-Over-Year Fort Lauderdale, FL, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or “the Company”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products,...
Singing Machine and Stingray Unveil New Karaoke Gaming & Scoring Capabilities Targeting the Automotive Market
Stingray and Singing Machine partner to debut major new automotive capabilities at CES 2024 Fort Lauderdale, FL, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products,...
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