Sidoti & Company Initiates Research Coverage of TNL Mediagene (TNMG), Following Initiation of Research Coverage in May by Benchmark at $3.50 Price Target

NEW YORK and TOKYO, July 7, 2025 /PRNewswire/ -- TNL Mediagene (Nasdaq: TNMG) (the "Company"), a Tokyo-based next-generation digital media and data group in Asia, today announced that Sidoti & Company, LLC ("Sidoti & Company"), a prominent Wall Street research firm, has initiated research coverage of the Company, following initiation of research coverage in May by The Benchmark Company, LLC ("Benchmark").

Joey Chung, Co-Founder and CEO of TNL Mediagene, commented: "We are honored to be included in Sidoti & Company's coverage universe, following the recent initiation by Benchmark. Both institutions are well-regarded for the quality and independence of their third-party research and analysis. We believe this coverage reflects Sidoti & Company's confidence in our recent progress and our long-term competitive strengths and growth potential."

Sidoti & Company's initiation of research coverage, as well as Benchmark's initiation of research coverage in May, support the Company's aim of having 2-3 research analysts covering the Company.

"We see research analyst coverage as a key component of our capital markets strategy. We are delighted to have both Sidoti & Company and Benchmark covering our stock and we remain committed to delivering sustainable value to our shareholders," Joey concluded.

The Company operates a highly differentiated combination of (1) Media & Branded Content business through its 25 trusted and independent digital media brands across five content categories, news and business, B2B media, technology, lifestyle and food, and sports and entertainment, including well-known digital media brands such as Gizmodo Japan, Business Insider Japan, iCook and Roomie among others, (2) Technology business through its proprietary data analytics and advertising technology products and services powered by AI and its first and zero-party audience data, and (3) Digital Studio business through its integrated digital studio, agency and market research solutions. The Company achieved strong FY2024 financial performance of consolidated revenue of $48.5 million at a 35% YoY growth rate, gross profit of $17.7 million, near break-even Adjusted EBITDA and Adjusted EPS of negative $0.035 per share. The Company's diverse, high-quality and popular content drives 45+ million monthly unique users*¹ and 189+ million monthly digital footprints*² which creates strong demand for advertising spend from a prestigious client base of 850+ clients that includes leading multinational companies and strong regional players.

*¹ Monthly unique users comprised of the average monthly unique users of owned sites and social platforms (YouTube + TikTok) based on Company data for the twelve months ended March 31, 2025

*² Digital footprint comprised of average monthly views during the most recent available Company data for the twelve months ended March 31, 2025.

Important Note Regarding Analyst Reports

Disclaimer: TNL Mediagene neither verifies or affirms, nor endorses the analysis, estimates, valuations, conclusions, opinions, ratings or financial models published by any third-party firms and individuals, including Sidoti & Company. The Company does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations. All of the views, opinions and conclusions expressed as part of any third-party reports are strictly the personal views of the author and / or the publishing firm, and therefore may not be consistent with those of TNL Mediagene, its management team and its board of directors. TNL Mediagene recommends that all investors carefully read the public disclosures, risk factors and filings made by the Company through its SEC filings and / or public newswire services.

About Sidoti & Company

Sidoti & Company is one of the largest independent providers of research focused on the small cap and microcap sectors. Sidoti & Company initiated research coverage on the Company in a report published on July 2. The report was disseminated to customers of Sidoti & Company and a link to a copy of the report is available on: https://www.sidoti.com/tnmg 

About TNL Mediagene

Headquartered in Tokyo, TNL Mediagene was formed in May 2023 through the merger of Taiwan's The News Lens Co. and Japan's Mediagene Inc., two of the region's leading independent digital media groups. The company's operations span original and licensed media brands in Japanese, Chinese, and English, covering topics such as news, business, technology, science, food, sports, and lifestyle. It also offers AI-driven advertising services, marketing technology platforms, e-commerce, and innovative solutions tailored to the needs of advertising agencies. Known for its political neutrality, appeal to younger audiences, and high-quality content, TNL Mediagene has approximately 500 employees across Asia, with offices in Japan, Taiwan, and Hong Kong.

https://www.tnlmediagene.com/

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to TNL Mediagene. Forward-looking statements generally relate to future events or TNL Mediagene's future financial or operating performance. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements in this communication include, but are not limited to, statements about TNL Mediagene's future business plan and growth strategies and statements by TNL Mediagene's CEO. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for TNL Mediagene to predict these events or how they may affect TNL Mediagene. In addition, risks and uncertainties are described in TNL Mediagene's filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. TNL Mediagene cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that TNL Mediagene presently does not know or that TNL Mediagene currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by TNL Mediagene, its directors, officers or employees or any other person. Except as required by applicable law, TNL Mediagene does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of TNL Mediagene as of any date subsequent to the date of this communication.

Financial Data

The condensed financial information presented in this press release should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2024 included in TNL Mediagene's annual report on Form 20-F filed with the SEC on April 30, 2025, which provides a more complete discussion of its accounting policies and certain other information.

Use and Reconciliation of Non-IFRS Financial Measures

In this press release, we have included Adjusted EBITDA, a non-IFRS financial measure, and Adjusted EPS, a non-IFRS measure, which are key measures used by our management and board of directors in evaluating our operating performance. Adjusted EBITDA and Adjusted EPS are our preferred metrics for profitability because we believe they facilitate operating performance and profit performance comparisons on a period-to-period basis and exclude items that we do not consider to be indicative of our core operating performance. Adjusted EBITDA and Adjusted EPS have limitations as analytical tools, and you should not consider it in isolation or as a substitute for analysis of our results as reported under IFRS.

Our management does not consider Adjusted EBITDA or Adjusted EPS in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of Adjusted EBITDA and Adjusted EPS is that they exclude significant expenses that are required by IFRS to be recorded in TNL Mediagene's financial statements. In addition, Adjusted EBITDA and Adjusted EPS are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining such non-IFRS financial measures.

For more details on the definitions of Adjusted EBITDA and Adjusted EPS and reconciliations of Adjusted EBITDA and Adjusted EPS to IFRS financial measures, see the press release and the investor presentation TNL Mediagene released on May 13, 2025.

SOURCE TNL Mediagene