Glacier Reports Second Quarter 2025 Results
MWN-AI** Summary
Glacier Media Inc. (TSX: GVC) announced its financial results for the second quarter of 2025, revealing a revenue decline to $32.6 million, down 2.7% from $33.5 million in Q2 2024. This decrease is attributed to lower advertising revenues across various segments, particularly agricultural publications, local consumer digital media, and community print publications, all affected by rising economic uncertainty and tariffs from both the U.S. and China. The company's EBITDA recorded a loss of $0.4 million, a significant drop from the positive EBITDA of $0.9 million seen in the same period last year.
Glacier's net loss attributable to common shareholders expanded to $5.4 million, compared to a loss of $3.3 million in Q2 2024. This translated to a loss per share of $0.04, slightly worsened from $0.03 in the prior year. The company's capital expenditures increased marginally to $1.4 million, compared to $1.2 million in Q2 2024, indicating ongoing investments in strategic growth areas despite the declining revenue backdrop.
As of June 30, 2025, Glacier Media maintained a cash balance of $3 million, alongside $6.6 million in non-recourse mortgages tied to land for farm shows in Saskatchewan and Ontario. The company's overall financial position underscores a challenging environment driven by advertising market shifts and operational transitions.
In summary, while Glacier continues to invest in growth strategies, the effect of external economic pressures and revenue declines suggest a need for cautious navigation ahead. For further financial insights, Glacier Media encourages stakeholders to reach out to their Chief Financial Officer, Orest Smysnuik.
MWN-AI** Analysis
Glacier Media Inc. (TSX: GVC) reported disappointing second-quarter results for 2025, highlighting significant financial challenges. The company witnessed a 2.7% decrease in revenue to $32.6 million compared to the previous year, with an even steeper EBITDA loss of $431,000, marking a considerable decline from a positive EBITDA of $907,000 in Q2 2024. This downturn is primarily attributed to falling advertising revenues amidst heightened economic uncertainty and tariffs affecting their agricultural publishing sector.
Investors should take note of several critical factors impacting Glacier's performance. The increase in capital expenditures to $1.43 million suggests that the company is investing in strategic growth areas despite poor short-term returns. While this could position Glacier for recovery, it also indicates a potential strain on cash flow, especially given a net loss attributable to common shareholders rising to $5.36 million, compared to a loss of $3.28 million in the prior year. With a cash reserve of only $3 million, liquidity may become a concern if losses continue without a clear path to profitability.
Additionally, the closure or sale of community media publications reflects a challenging operational landscape. The trend of declining advertising revenues, exacerbated by economic factors, raises serious questions about the company's sustainability in a rapidly evolving media environment.
In conclusion, while Glacier is investing in future growth, the immediate outlook appears bleak given the loss of market share and declining revenues. Investors should adopt a cautious approach, monitoring the company's ability to implement effective recovery strategies while keeping an eye on cash flow management. A reevaluation of long-term holdings in Glacier Media would be prudent until tangible signs of recovery materialize.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Glacier Media Inc. (TSX: GVC) (“Glacier” or the “Company”) reported revenue and earnings for the period ended June 30, 2025.
Summary Results
| (thousands of dollars) | Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| except share and per share amounts | 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 32,624 | $ | 33,532 | $ | 65,099 | $ | 68,282 | |||||||||
| EBITDA (1) | $ | (431 | ) | $ | 907 | $ | (1,677 | ) | $ | 585 | |||||||
| EBITDA (1) margin | (1.3% | ) | 2.7% | (2.6% | ) | 0.9% | |||||||||||
| EBITDA (1) per share | $ | (0.00 | ) | $ | 0.01 | $ | (0.01 | ) | $ | 0.00 | |||||||
| Capital expenditures | $ | 1,430 | $ | 1,229 | $ | 2,774 | $ | 1,988 | |||||||||
| Net loss attributable to common shareholder | $ | (5,364 | ) | $ | (3,280 | ) | $ | (9,507 | ) | $ | (7,709 | ) | |||||
| Net loss attributable to common shareholder per share | $ | (0.04 | ) | $ | (0.03 | ) | $ | (0.07 | ) | $ | (0.06 | ) | |||||
| Weighted average shares outstanding, net | 131,131,598 | 131,131,598 | 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. |
Q2 2025 performance
Consolidated revenue for the quarter ended June 30, 2025, was $32.6 million, down $0.9 million or 2.7% from the same quarter in the prior year. The consolidated EBITDA loss for the period was $0.4 million, a decline of $1.3 million, from EBITDA of $0.9 million for the same quarter in the prior year. Capital expenditure for the period was $1.4 million compared to $1.2 million for the same quarter in the prior year.
The revenue decline was primarily driven by lower advertising revenues. The significant 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 decline of $1.3 million quarter over quarter was driven by a combination of revenue decreases and investment spending in strategic growth areas.
Financial position
As at June 30, 2025, the Company had a cash balance of $3.0 million and $6.6 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 June 30, | Six months ended June 30, | ||||||||||||||
| except share and per share amounts | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss attributable to common shareholders | $ | (5,364 | ) | $ | (3,280 | ) | $ | (9,507 | ) | $ | (7,709 | ) | ||||
| Add (deduct): | ||||||||||||||||
| Non-controlling interests | $ | 329 | $ | 331 | $ | 231 | $ | 258 | ||||||||
| Interest expense, net | $ | 1,041 | $ | 1,584 | $ | 2,206 | $ | 3,032 | ||||||||
| Depreciation and amortization | $ | 2,297 | $ | 2,874 | $ | 4,514 | $ | 5,844 | ||||||||
| Loss on disposal, net | $ | - | $ | 323 | $ | - | $ | 113 | ||||||||
| Share of (earnings) losses from joint ventures and associates | $ | (741 | ) | $ | 42 | $ | (1,128 | ) | $ | (280 | ) | |||||
| Other income | $ | (265 | ) | $ | (325 | ) | $ | (272 | ) | $ | (446 | ) | ||||
| Restructuring and other expenses | $ | 1,217 | $ | 754 | $ | 2,090 | $ | 2,362 | ||||||||
| Unrealized foreign exchange losses (gains) | $ | 1,503 | $ | (194 | ) | $ | 1,460 | $ | (694 | ) | ||||||
| Income tax recovery | $ | (448 | ) | $ | (1,202 | ) | $ | (1,271 | ) | $ | (1,895 | ) | ||||
| EBITDA (1) | $ | (431 | ) | $ | 907 | $ | (1,677 | ) | $ | 585 | ||||||
| Notes: | ||||||||||||||||
| (1) Refer to "Non-IFRS Measures" section of MD&A for discussion of non-IFRS measures used in this table. | ||||||||||||||||
FAQ**
What strategies is Glacier Media Inc. GVC:CC implementing to address the decline in revenue primarily driven by lower advertising revenues and the impact of economic uncertainty?
Considering the net loss attributable to common shareholders reported by Glacier Media Inc. GVC:CC, what measures are being taken to improve profitability and reduce financial losses in future quarters?
How does Glacier Media Inc. GVC:CC plan to balance capital expenditures while navigating the economic uncertainties and reduced revenue streams in their core business segments?
What are the key factors contributing to the reported EBITDA decline for Glacier Media Inc. GVC:CC, and how does the company plan to enhance its EBITDA performance going forward?
**MWN-AI FAQ is based on asking OpenAI questions about Glacier Media Inc. (TSXC: GVC:CC).
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