| Market Capitalization (Millions $) |
5 |
| Shares
Outstanding (Millions) |
6 |
| Employees |
32 |
| Revenues (TTM) (Millions $) |
22 |
| Net Income (TTM) (Millions $) |
-8 |
| Cash Flow (TTM) (Millions $) |
-2 |
| Capital Exp. (TTM) (Millions $) |
0 |
Singing Machine Co Inc
We specialize in the design, marketing, and distribution of consumer karaoke audio equipment, accessories, and musical records.
We are the worlds top karaoke and music entertainment firm, specializing in the design and manufacture of high-quality karaoke and music-enabled consumer items for adults and children. Our karaoke products are among the most widely accessible in the globe. Our purpose is to "bring joy to others via music." To complete this task, we will take the following multi-pronged approach:
Improve profitability in the short term by streamlining operations and continuing to enhance gross margins.
Continue to extend our worldwide distribution and enter new product categories that take use of our extensive distribution partnerships and sourcing capabilities in the medium to long term.
Karaoke' including our flagship brand Singing Machine, our karaoke line is driven by quality products at affordable price points that we believe deliver great value to our customers. All of our karaoke products are Bluetooth' enabled to allow access to digital music content via our mobile apps available on iOS and Android platforms. We believe our core karaoke line offers best-in-class innovative features that, including but not limited to enables customers to output video to a TV screen, correct singer's pitch in real-time, stream karaoke content directly to the machine, sing duets, display scrolling lyrics in-time with the song, and play custom karaoke CD+G discs. The Company's products are sold directly to consumers via its retail channels, ecommerce, its own website, and distributors worldwide. This product category accounted for approximately 82% of our net sales in our fiscal year ended March 31, 2022.
Licensed Products' including brands such as Carpool Karaoke. In 2019, we entered into a 3-year license agreement with CBS' for its Carpool Karaoke brand, made popular by James Corden on The Late Show with James Corden. We launched an innovative Carpool Karaoke Microphone that works specifically in the car. This license agreement with CBS' expires on September 30, 2022. We are actively exploring renewing the license agreement and exploring new licensing opportunities. This product category accounted for approximately 3% of our net sales in our fiscal year ended March 31, 2022.
Microphones and Accessories' we currently offer a line of traditional microphone accessories that are compatible with our karaoke machines. These microphones feature an assortment of colors, come wired or wireless, and may include new features like party lighting and voice changing effects. We are also seeing growth in portable Bluetooth' microphones which are marketed under our Party Machine brand. This product category accounted for approximately 9% of our net sales in our fiscal year ended March 31, 2022.
Singing Machine Kids Youth Electronics' including the brand Singing Machine Kids. Our kids line of products offer fun music entertainment features designed specifically for children. Our kids' products provide a high-quality introduction to singing and music entertainment for young singers and offer innovative features like voice changing effects, recording, Bluetooth' compatibility, and portability. This product category accounted for approximately 5% of our net sales in our fiscal year ended March 31, 2022.
Music Subscriptions' in conjunction with our premium partner, Stingray Digital, we offer karaoke music subscription services for the iOS and Android platforms as well as a web-based download store and integrated streaming services for our hardware. We currently offer almost 20,000 licensed karaoke songs in the catalog. This product category accounted for approximately 1% of our net sales in our fiscal year ended March 31, 2022.
Company Address: 6301 NW 5th Way Fort Lauderdale 33309 FL
Company Phone Number: 596-1000 Stock Exchange / Ticker: NASDAQ MICS
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11.84% 