Thunderbird’s revenue doubled in Q2 as its animation business continued to drive significant growth for the publicly traded entity.

The company’s overall revenue rose 98% to 28 million in the second quarter, up from $13.9 million a year ago. The company attributed the growth to revenue derived from its production-services business, which increased by 63% year over year. Adjusted EBITDA was $5.2 million, compared with $2 million the prior year.

The Vancouver-based company says it had 21 programs in production in Q2, including four unscripted series produced by Great Pacific Media (GPM) and 13 animated series and two animated films produced by Atomic Cartoons. Of those 21 projects, 10 are owned or part-owned by Thunderbird.

There were brights spots elsewhere in its financial filing, too, as its licensing and distribution business reported revenue of $6.4 million, up 272% from a year ago.

For the year to date, revenue is up 56% to $47.7 million, compared to $30.6 million a year ago. Adjusted EBITDA for the year to date was $10 million, up from $5.7 million the prior year.

The end of an era

The most recent quarter also represented the end of an era, revealed Thunderbird, as director, co-founder and former CEO Tim Gamble has stepped down from the board to pursue other business interests.

Gamble, who founded the company in 2003 alongside Michael Shepard, transitioned out of the CEO role in 2017 and took the position of vice chair of the company’s board.

“On behalf of Thunderbird and our board of directors, I want to thank Tim Gamble for his visionary leadership throughout the years. Tim always encouraged the entire leadership team to think big, operate with integrity, and to inspire with content that can positively impact our world. We proudly take this vision forward on Thunderbird’s continued journey,” said Twiner McCarron in a statement.