Mr. Larry O'Reilly reports

ARHT MEDIA ANNOUNCES Q2 2024 OPERATING RESULTS

Arht Media Inc. today released its financial results for the second quarter ended June 30, 2024.

Q2 2024 financial update

• Revenue for Q2 2024 of $1.4-million;
• Cash-based operating expenses reduced to $1.5-million versus $2.9-million, a 50-per-cent improvement;
• Q2 2024 EBITDA (earnings before interest, taxes, depreciation and amortization) loss of ($700,000) versus ($1.5-million) in Q2 2023, a positive reduction of 54 per cent.

Q2 2024 business highlights

• ShowWindowMax multipanel display premiered with the art of famed British artist Allen Jones in Paris in May;
• Arht beamed four surgeons simultaneously from three different countries into a fourth country for a major medical conference, a world's first.

"We continue to focus on a reduction in operating costs while simultaneously working with enterprise organizations through multiple proof of concepts that have the potential for large-scale adoption," stated Arht chief executive officer Larry O'Reilly. "Combining AI life like avatars with our holographic display continues to grow in interest from multiple potential clients."

About Arht Media Inc.

Arht is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers and thought leaders can travel at the speed of light to any destination.

Arht was founded in 2014 and is publicly traded on the TSX Venture Exchange. Arht has offices in North America, Europe and Asia, and operates from its own studios in locations from Toronto to Singapore, as well as a large network of partner studios in every region.

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