Destiny Media Technologies, Inc.
Climate Impact & Sustainability Data (2024)
Reporting Period: 2024
Environmental Metrics
Climate Goals & Targets
Short-term Goals:
- Expand global market share of Play MPE® by expanding into new market segments and established markets.
Environmental Challenges
- Customer concentration (42.7% of revenue from one customer)
- Currency fluctuations impacting operating expenses (Canadian dollar vs. US dollar, Euro, Australian dollar)
- Potential for product liability claims due to software defects
- Vulnerability of network infrastructure to system failure and security risks
- Dependence on continued development of the internet and intranets
- Potential for product delays and errors
- Adverse effects from online commerce security failures
- International business risks (regulatory changes, export/import restrictions, etc.)
Mitigation Strategies
- Maintaining a large portion of financial reserves in Canadian dollars to mitigate foreign exchange risk.
- Implementing security measures to mitigate network infrastructure risks.
- Investing in product and business development to maintain competitiveness.
- Not currently hedging foreign currency exposures.