Ionik (INIK) investor relations material

Executive summary

• Revenue for Q2 2026 was $47.4 million, down 8% year-over-year, with Media Activation growth offset by a decline in Marketing Optimization revenue from a key customer.

• Net income from continuing operations reached $14.9 million, reversing a net loss of $2.4 million in Q2 2025, aided by non-cash gains on financial liabilities and loan extinguishments.

• Adjusted EBITDA for Q2 2026 was $8.4 million, compared to $9.5 million in Q2 2025, reflecting lower revenue but partially offset by reduced operating costs.

• Adjusted Free Cash Flow was $6.8 million, with an 81% conversion rate, up from a 79% rate in Q2 2025.

• Completed a comprehensive debt refinancing in June 2026, extending maturities and improving liquidity.

Financial highlights

• Gross profit was $18.2 million (38% margin), down from $20.9 million (40% margin) in Q2 2025, mainly due to lower revenue from a single Marketing Optimization customer.

• Cash balance at June 30, 2026 was $10.8 million, up from $5.8 million at March 31, 2026.

• Total undiscounted debt at quarter-end was $124.8 million, up from $111.4 million at March 31, 2026.

• Senior debt net of cash was $78.2 million at June 30, 2026.

• For the first half of 2026, net income was $13.8 million versus a net loss of $6.0 million in the prior-year period; Adjusted EBITDA was $14.2 million versus $15.8 million.

Outlook and guidance

• Management remains focused on debt reduction and operational integration under the SHIFT44 and Q1Media brands.

• The company expects to leverage its new financing partners and operational alignment for a stronger second half of 2026.

• Forward-looking statements highlight confidence in capital sufficiency, debt repayment ability, and continued customer adoption.