05:59 AM EDT, 09/18/2024 (MT Newswires) -- WildBrain ( WLDBF ) , in kids' and family entertainment, overnight Tuesday reported that its fourth-quarter net loss doubled due to impairment charges.

Net loss widened to $80.7 million, or $0.51 per share, from $44.4 million or $0.26 per share, last year. The change was due to a non-cash impairment charge of intangible assets in relation to its Television Business segment and investments in film and television and acquired and library content.

Revenue increased 4% to $130 million. Content Creation and Audience Engagement revenue increased 7% to $68.0 million, while Global Licensing revenue increased 4% to $53.7 million in the same period.

"The build in our licensing business this year was offset by the industry-wide slowdown in the content greenlights due to the Hollywood strikes, but our production pipeline has been ramping up and we are seeing a return to normal levels for Fiscal 2025 and 2026," said CEO Josh Scherba.