Sabio Holdings (SBIO) Q1 2026 earnings summary

Executive summary

• Achieved 26% CAGR since IPO, with 24% average growth in non-election years and 61% in election years.

• Consolidated gross revenues reached $8.2 million in Q1 2026, with core business revenues up 6% year-over-year excluding political and advocacy spend.

• International and programmatic channels drove growth, each increasing nearly 13x year-over-year and comprising 62% of total revenue.

• Gross margin was 53%, reflecting early-year pricing strategies to boost adoption of new offerings, with margins improving through the quarter.

• Over $5 million in political and advocacy commitments secured for the second half of 2026.

Financial highlights

• Q1 2026 consolidated gross revenues were $8.2 million, down from $9.1 million in Q1 2025 due to lower political and advocacy spend.

• Core business revenues (excluding political/advocacy) grew 6% year-over-year.

• Ad-supported streaming gross revenues were $6.5 million; normalized ad-supported streaming revenues rose 18% year-over-year.

• International revenues up 1,173% to $3.1M; programmatic up 1,175% to $2M, both nearly 13x year-over-year.

• Adjusted EBITDA loss of $3.4 million in Q1.

Outlook and guidance

• Gross revenues are tracking over 35% higher sequentially into Q2, driven by growth in programmatic and international channels and early election-cycle spending.

• Expect record year and strong profitability in H2 2026, with continued momentum in scalable channels.

• Cost reductions of $2.3M annualized to benefit Q2 and fully impact Q3, supporting return to profitability.

• International and programmatic growth expected to offset political cycle volatility in future years.

• Political and advocacy commitments are expected to drive margin expansion and improved cash flow in the second half.