Legion M's 2024 Annual Report and Audited Financials are Now Available
It's official! We’ve filed our 2024 annual report with the SEC.
Topline results: Revenue is up -- we had over $1MM 2024, which was a 25% increase over 2023.
At the same time, we've kept our "core burn" (i.e. the cost of running the company once you take out fundraising, marketing and COGS for movies) flat. In other words, we've stayed lean.
We're not profitable yet, but we've clearly entered a new era for Legion M in which we believe profitability could be within sight. The sort of deals we're doing today (i.e. producing movies WE OWN as opposed investing/partnering in movies owned by others) has the power to dramatically change our financials.
Legion M is still early enough that a single hit movie could fundamentally change our trajectory. At the same time we're continuing to invest in the foundational business models (production and distribution) that we believe will power the company in the long term.
If you are interested in checking out the report, you can find it (along with links to the annual reports and audited financials from the 8 previous years) at: legionm.com/investorrelations.
One thing worth noting -- the financials in our annual reports are independently audited. This means Legion M needs to go through a complete audit each year. This takes months – this year’s cost more than $50,000 in auditors fees alone -- not to mention a substantial amount of time from our small staff.
That said, we believe the confidence these audits provide is invaluable. Especially in this age when it’s so difficult to trust the information you find online.
Got questions? Join us for a live investor webinar and Q&A on Wednesday, May 28th at 1 PM PT / 4 PM ET.
Want to join us? Join over 50,000 investors and get on board the Legion M moonshot by investing in Round 10. ROUND ENDS SOON!!
As always, thank you for being a part of this journey. Let’s make history together!
Onward and Upward,
Jeff, Paul, and the Legion M Team
RISK VS. REWARD
Early stage investments like Legion M are speculative, illiquid and involve a high degree of risk. Most small businesses fail, so you should never invest more than you can afford to lose (not in Legion M or any startup).
That said...companies that succeed can go on to change the world. If you want to take a swing at making history, we'd love to have you aboard our moonshot!
In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. Legion M has filed a Form C with the Securities and Exchange Commission in connection with its offering, a copy of which may be obtained here: bit.ly/offering-doc