Northwire Canada EditionThursday, October 15, 2026
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Earnings

Canlan Reports Q3 Revenue Growth

By The Northwire Desk — AI Analysis Nov 13, 2025 · 09:01 ICE · 4.35 CANLAN ICE SPORTS CORP.
ICE · Price

Executive Summary

  • Canlan Ice Sports Corp. reported Q3 2025 operating revenue of $21.1 M, a 5.9% YoY increase, but posted an operating loss of $0.4 M and net loss of $2.5 M ($0.19 per share).
  • The Board declared a regular quarterly dividend of $0.03 per share (payable Jan 15 2026) and a special dividend of $0.50 per share paid Aug 15 2025.
  • Capital expenditures progressed on roof remediation, HVAC/refrigeration upgrades, and parking/dressing‑room repairs, supporting ongoing facility improvements.

Key Details

  • Revenue & Growth
  • Q3 2025 operating revenue: $21.1 M (up $1.2 M or 5.9% YoY).

  • Revenue growth driven by higher league/tournament registrations, new sports simulators, and enhanced sports‑bar offerings.

  • Profitability

  • Operating loss: $(0.4) M vs. $(0.7) M in Q3 2024.

  • Net loss: $(2.5) M ($0.19 per share) vs. $(2.6) M ($0.20 per share) a year earlier.

  • Expenses

  • Total operating expenses: $18.9 M, up $1.0 M (5.8%) mainly from labour and selling costs.

  • G&A expense decreased to $2.6 M (down $0.2 M, ‑7.4%) due to lower corporate compensation.

  • Nine‑Month Highlights (ended Sep 30 2025)

  • Revenue: $72.6 M, up $4.6 M (6.8%).

  • Net earnings: $1.6 M ($0.12 per share), up from $0.4 M a year prior.

  • Dividends

  • Regular quarterly dividend declared: $0.03 per common share, payable Jan 15 2026 to shareholders of record Dec 31 2025.

  • Special dividend already paid: $0.50 per share (declared June 2025, paid Aug 15 2025).

  • Balance Sheet (unaudited) – Sep 30 2025

  • Cash & cash equivalents: $14.586 M (down from $21.677 M Dec 31 2024).

  • Total assets: $121.925 M; total liabilities: $80.611 M; shareholders’ equity: $41.314 M.

  • Capital Projects

  • Ongoing roof remediation, parking lot and dressing‑room repairs.

  • Replacement of refrigeration and HVAC equipment to improve energy efficiency.

  • Management Commentary

  • CEO Joey St‑Aubin highlighted a “busy and productive season,” noting completed infrastructure projects and enhanced customer experience across locations.

  • Regulatory Filings

  • Q3 2025 financial statements & MD&A to be filed on SEDAR+ by Nov 14 2025.

Notable Quotes

“This summer was another busy and productive season as we completed major infrastructure projects, refreshed key amenities, and continued enhancing the overall customer experience,” – Joey St‑Aubin, President & CEO.

Read the original news release →

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Earnings