Sabio Announces First Quarter 2026 Results

• Sabio Holdings reported First Quarter 2026 consolidated gross revenues of $8.2 million, a decline from $9.1 million in Q1 2025.
• Core business revenue (excluding political and advocacy spend) grew 6% year-over-year to offset declines in political spending.
• International and programmatic revenues increased nearly 13x year-over-year, representing 62% of total revenue mix.
• Gross margin compressed from 61% in Q1 2025 to 53% in Q1 2026 due to pricing investments for adoption.
• Adjusted EBITDA loss widened to $3.4 million compared to prior periods, with IFRS Net Loss at $4.4 million.
• Management secured over $5 million in political and advocacy commitments for the second half of 2026.
• Cost reductions of $2.3 million annualized were implemented year-to-date.
• Recurring revenues represented 85% of total revenues, indicating stability in the customer base.

• The consolidated revenue decline (-10%) and margin compression (8 percentage points) are negative fundamental indicators that outweigh core growth metrics for a risk-averse investor.
• Continued Adjusted EBITDA losses confirm the company is burning cash to fund growth, with no clear path to profitability in Q1 2026.
• The 13x growth in international and programmatic segments validates strategic pivots but comes at the cost of immediate profitability (margin drop).
• Financing activity remains small ($900k debenture tranche), insufficient to cover significant operational burn without further dilution or debt issuance.
• Stock price has already declined 60% over the past year, pricing in these risks; the news confirms the deterioration rather than surprising the market with a catastrophe.

• Sabio Holdings Inc. operates an ad-tech stack providing end-to-end ad-serving technology for FAST channels.
• Flagship Project: Creator Television (Creator TV), a creator-led streaming network leveraging App Science analytics platform.
• Strategic Focus: Transitioning from political/advocacy spend reliance to diversified core business including international and programmatic advertising.
• Distribution: Content available on major FAST platforms including Fire TV, Xumo Play, Plex, and TCLtv+.
• Audience Reach: App Science database covers approximately 80 million U.S. households (~70% of streaming households).