Glacier Reports Third Quarter 2025 Results

Executive Summary

• Glacier Media reported Q3 2025 revenue of $40.3 M, essentially flat year‑over‑year, but EBITDA increased to $6.5 M (+$0.7 M YoY).
• Net income swung to a profit of $6.7 M ($0.05 per share) from a loss of $37 K a year earlier, marking a material turnaround.
• Capital expenditures were restrained at $0.9 M and cash on hand stood at $4.7 M, with non‑recourse mortgages of $6.5 M tied to farm‑show land assets.

Key Details

• Revenue: $40,263 k for the quarter ended Sep 30 2025 (vs. $40,239 k in Q3 2024).
• EBITDA: $6,518 k for the quarter (vs. $5,867 k in Q3 2024); EBITDA margin 16.2% vs. 14.6% YoY.
• EBITDA per share: $0.05 (up from $0.04).
• Net income attributable to common shareholders: $6,742 k ($0.05 per share), reversing a $37 k loss in the prior year quarter.
• Capital expenditures: $899 k (down from $954 k YoY).
• Nine‑month totals (ended Sep 30): Revenue $105,362 k vs. $108,521 k YoY; EBITDA $4,841 k vs. $6,452 k YoY; Net loss $(2,765) k vs. $(7,672) k YoY.
• Cash balance: $4.7 M as of Sep 30 2025.
• Non‑recourse mortgages: $6.5 M secured against farm‑show land in Saskatchewan and Ontario.
• Revenue mix shift: Increases in subscriptions, data, services, and events; advertising revenue continued to decline due to market uncertainty and recent divestitures of community media titles.
• Drivers of EBITDA improvement: Higher‑margin revenue mix, disposal/closure of unprofitable print operations, disciplined investment spending.

Notable Quotes

(No direct quotes were provided in the release.)