Glacier Media (GVC) investor relations material

Executive summary

• Q3 2026 revenue was $38.3M, down 4.8% YoY; EBITDA was $7.7M, up 18.1%, mainly from improved core operations and lower expenses.

• Core operating results improved despite lower aggregate revenue, as cost containment and rationalization offset part of the advertising decline.

Financial highlights

• Q3 revenue was $38.343M vs. $40.263M YoY; 9M revenue was $98.415M vs. $105.362M.

• Q3 net income attributable to common shareholders was $1.284M vs. $6.742M YoY.

• 9M EBITDA was $10.127M vs. $4.841M in the prior-year period.

• Direct and general and administrative expenses declined $3.1M YoY in Q3.

Segment performance

• Legacy print community media operations accounted for $1.6M of the Q3 revenue decrease; revenue from core Consumer Information operations declined $0.3M, or 0.9%.

• Advertising revenue fell $2.2M, or 16.8%, including sold and closed operations; declines affected Commodity Information, Consumer Information and Print Community Media.

• Data and Subscription revenue rose $0.2M, or 1.1%, mainly in Environmental Risk and Compliance Information; Events and Services rose $0.2M, or 1.7%, mainly in Commodity Information.

• Legacy print expenses decreased $1.8M, mostly due to sales and closures; core expense savings from cost controls were partly offset by strategic growth investment.