Blue Ant Media (BAMI) investor relations material

Executive summary

• Q3 marked the first quarter as a public company after a reverse takeover on August 1, 2025, strengthening the balance sheet and adding three new production companies to the group.

• Results discussed are for Blue Ant only, excluding newly acquired businesses, with future quarters reflecting the expanded scale.

• Adjusted EBITDA rose 31% year-over-year, driven by strong growth in Global Channels & Streaming and increased CTV ad sales.

• Revenues increased 7% year-over-year, with global advertising growth offsetting declines in production revenues due to delayed greenlights.

• Net income was negatively impacted by one-time items, including transaction costs, goodwill impairment, and accelerated share-based compensation from the reverse takeover.

Financial highlights

• Q3 revenues were $55.7M, up from $51.8M in Q3 F2024, a 7% year-over-year increase driven by global advertising and a one-time programming event.

• Adjusted EBITDA for the quarter was $14.6M, up from $11.1M, a 31% increase year-over-year.

• Loss from continuing operations was $11.2M, compared to income of $2.7M in the prior year, due to significant one-time charges.

• Operating cash inflow for the first nine months was $5.0M, down from $5.6M, mainly due to RTO-related costs.

• Net cash provided by operating activities for the first nine months was $11.1M, up from $10.4M.

Outlook and guidance

• Anticipates future quarters will reflect increased scale and strength post-RTO, with opportunities for organic and acquisition-driven growth.

• Expects continued softness in the ad market in the near term, with industry forecasts suggesting improvement as advertiser demand rebounds.

• Management sees current industry conditions as an opportunity for content and business acquisitions at attractive valuations.

• The RTO has increased capital flexibility to invest in growth areas and expand the studio's scale and diversity.