Glacier Reports First Quarter 2025 Results
MWN-AI** Summary
Glacier Media Inc. (TSX: GVC) announced its financial results for the first quarter of 2025, revealing a revenue drop of $2.3 million to $32.5 million, a decrease of 6.5% compared to $34.75 million in Q1 2024. The company's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) showed a more significant negative shift, recording a loss of $1.2 million, worsening from a $0.3 million loss in the prior year. This change reflects challenges stemming from reduced advertising revenues, attributed largely to heightened economic uncertainty and tariffs affecting the agricultural sector and community media.
Capital expenditures during the quarter stood at $1.3 million, an increase from $0.8 million in Q1 2024, as the company continued to allocate resources towards strategic investments despite ongoing revenue declines. For the three months ended March 31, 2025, Glacier's net loss attributable to common shareholders was $4.1 million, nearly unchanged from a $4.4 million loss in the same quarter of 2024, translating to a net loss per share of $0.03.
As of the end of the quarter, Glacier reported a cash balance of $6.9 million and liabilities of $6.7 million related to non-recourse mortgages tied to land for its agricultural trade shows.
Overall, Glacier's Executive team emphasized the challenges faced due to a contraction in advertising and community media revenues, exacerbated by newly imposed tariffs. Despite the difficult landscape, the company is focused on investing in key areas to enhance future performance. Investors are advised to consider certain non-IFRS financial measures, including EBITDA, to assess the company’s operational efficiency and profitability.
MWN-AI** Analysis
Glacier Media Inc. (TSX: GVC) has reported its first-quarter results for 2025, revealing a challenging financial landscape that investors should consider closely. The company's revenue was $32.5 million, down 6.5% from $34.75 million in the same quarter of the previous year, primarily due to a significant drop in advertising revenue attributed to heightened economic uncertainty and tariff issues.
The company faced a notable EBITDA loss of $1.2 million, an increase from a loss of $0.3 million in Q1 2024. This decline is troubling, particularly as it reflects both reduced revenue and increased strategic investments leading to higher operational costs. Investors should scrutinize Glacier’s capacity to recover from these losses, especially given the continued pressures on local consumer digital markets and community media publications.
Capital expenditures rose by 75% year-over-year, indicating a potential pivot towards growth-oriented investments. However, such spending must be balanced against the backdrop of ongoing financial losses. With a cash balance of $6.9 million and non-recourse mortgages of $6.7 million, Glacier appears to be maintaining a cautious approach, but liquidity considerations remain critical.
Investors may want to monitor how Exodus adapitates its business model in response to the advertising downturn. The closure of community media outlets could signal further structural challenges, necessitating cost management and strategic realignment to stabilize revenues.
Given these insights, it may be prudent for investors to adopt a cautious stance towards Glacier Media's shares. While potential for recovery remains, particularly if advertising revenues stabilize, the current losses and declining revenue trajectory indicate that a more favorable investment outlook is contingent upon decisive strategic actions and market conditions improving. Maintaining an eye on the company's quarterly performance and management's strategic directives will be crucial in evaluating any future investment opportunities.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, May 08, 2025 (GLOBE NEWSWIRE) -- Glacier Media Inc. (TSX: GVC) (“Glacier” or the “Company”) reported revenue and earnings for the period ended March 31, 2025.
Summary Results
| (thousands of dollars) | Three months ended March 31, | |||||||
| except share and per share amounts | 2025 | 2024 | ||||||
| Revenue | $ | 32,475 | $ | 34,750 | ||||
| EBITDA (1) | $ | (1,246 | ) | $ | (322 | ) | ||
| EBITDA (1) margin | (3.8 | %) | (0.9 | %) | ||||
| EBITDA (1) per share | $ | (0.01 | ) | $ | (0.00 | ) | ||
| Capital expenditures | $ | 1,344 | $ | 759 | ||||
| Net loss attributable to common shareholder | $ | (4,143 | ) | $ | (4,429 | ) | ||
| Net loss attributable to common shareholder per share | $ | (0.03 | ) | $ | (0.03 | ) | ||
| Weighted average shares outstanding, net | 131,131,598 | 131,131,598 | ||||||
(1) EBITDA is considered a non-GAAP measure. Refer to “EBITDA Reconciliation” below for a reconciliation of the Company’s net (loss) income attributable to common shareholders as reported under IFRS to EBITDA.
Q1 2025 performance
Consolidated revenue for the quarter ended March 31, 2025, was $32.5 million, down $2.3 million or 6.5% from the same quarter in the prior year. The consolidated EBITDA loss for the period was $1.2 million, an increased loss of $0.9 million from an EBITDA loss of $0.3 million for the same quarter in the prior year. Capital expenditure for the period was $1.3 million compared to $0.8 million for the same quarter in the prior year.
The revenue decline was primarily driven by lower advertising revenues. A dramatic increase in economic uncertainty combined with general tariffs from the United States and agricultural tariffs from China impacted the agricultural publications, local consumer digital, and community media print publications. Revenue also decreased as the result of the closure or sale of community media publications over the past 12 months.
The EBITDA loss for the period was $1.2 million, an increased loss of $0.9 million compared to an EBITDA loss of $0.3 million in Q1 2024. A combination of revenue decreases and investment spending in strategic areas resulted in an increase in the EBITDA loss for the quarter.
Financial position
As at March 31, 2025, the Company had a cash balance of $6.9 million and $6.7 million of non-recourse mortgages (which relate to land for the farm shows in Saskatchewan and Ontario).
For further information please contact Mr. Orest Smysnuik, Chief Financial Officer, at 604-708-3264.
About the Company
Glacier Media Inc. is a broad portfolio of business information and consumer digital businesses. Serving a diverse array of industries and users, the businesses are typically leaders in their respective industry and/or geographic markets.
Non-IFRS financial measures
Earnings before interest, taxes, depreciation and amortization (“EBITDA”), EBITDA margin and EBITDA per share, are not generally accepted measures of financial performance under IFRS. Management utilizes EBITDA as a financial performance measure to assess profitability and return on equity in its decision making. In addition, the Company, its lenders and its investors use EBITDA to measure performance and value for various purposes. Investors are cautioned; however, that EBITDA should not be construed as an alternative to net income (loss) attributable to common shareholders determined in accordance with IFRS as an indicator of the Company’s performance.
The Company’s method of calculating these financial performance measures may differ from other companies and, accordingly, they may not be comparable to measures used by other companies. A quantitative reconciliation of these non-IFRS measures is included in the section entitled EBITDA Reconciliation.
EBITDA Reconciliation
| (thousands of dollars) | Three months ended March 31, | |||||||
| except share and per share amounts | 2025 | 2024 | ||||||
| Net loss attributable to common shareholders | $ | (4,143 | ) | $ | (4,429 | ) | ||
| Add (deduct): | ||||||||
| Non-controlling interests | $ | (98 | ) | $ | (73 | ) | ||
| Interest expense, net | $ | 1,165 | $ | 1,448 | ||||
| Depreciation and amortization | $ | 2,217 | $ | 2,970 | ||||
| Gain on disposal, net | $ | - | $ | (210 | ) | |||
| Other income | $ | (50 | ) | $ | (621 | ) | ||
| Restructuring and other expenses, net | $ | 873 | $ | 1,608 | ||||
| Share of earnings from joint ventures and associates | $ | (387 | ) | $ | (322 | ) | ||
| Income tax recovery | $ | (823 | ) | $ | (693 | ) | ||
| EBITDA (1) | $ | (1,246 | ) | $ | (322 | ) | ||
| Notes: | ||||||||
| (1) Refer to "Non-IFRS Measures" section of MD&A for discussion of non-IFRS measures used in this table. |
FAQ**
How does Glacier Media Inc. GVC:CC plan to address the significant decline in advertising revenue that contributed to their 6.5% decrease in consolidated revenue for Q1 2025?
What specific strategic areas is Glacier Media Inc. GVC:CC investing in to improve their EBITDA performance, given the increased loss in Q1 20compared to the previous year?
Considering the financial position reported, including the cash balance of $6.9 million, what measures does Glacier Media Inc. GVC:CC intend to implement to enhance liquidity and financial stability in the upcoming quarters?
With the reported capital expenditures rising to $1.3 million in Q1 2025, can Glacier Media Inc. GVC:CC provide details on the expected return on these investments and how they align with the company's long-term growth strategy?
**MWN-AI FAQ is based on asking OpenAI questions about Glacier Media Inc (OTC: GLMFF).
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