WildBrain (WILD) Q4 2025 earnings summary

Executive summary

• Fiscal 2025 saw strong results with a sharpened focus on premium franchises and significant growth in global licensing, especially from Strawberry Shortcake, Peanuts, and Teletubbies.

• The company exited its Canadian broadcast business to focus on higher-growth, scalable, and higher-margin areas.

• Digital engagement and content distribution expanded, with AVOD and FAST channel minutes up 55% in Q4, supporting brand awareness and monetization.

• Media Solutions broadened its advertiser base and is positioned for meaningful growth in fiscal 2026.

• Financial discipline led to improved free cash flow and reduced leverage.

Financial highlights

• Fiscal 2025 revenue was $523.4 million, up 13% year-over-year; excluding television, revenue was $487.3 million, up 14%.

• Global licensing revenue reached $284 million, up 33% for the year; Q4 licensing revenue was $69 million, up 29%.

• Content creation and audience engagement revenue was $203 million, down 5% year-over-year; Q4 2025 saw a 12% decline in this segment.

• Adjusted EBITDA was $92.3 million, up 5%; excluding television, $68.6 million, up 3%.

• Net loss for the year was $89.8 million, improved from $106 million prior year; Q4 net income was $9.5 million versus a loss of $80.7 million in Q4 2024.

• Free cash flow for fiscal 2025 was positive $49.5 million, compared to negative $29.5 million in 2024.

Outlook and guidance

• Fiscal 2026 core business (excluding television) expected to deliver 15–20% revenue and adjusted EBITDA growth.

• Including television, revenue guidance is $560–$590 million and adjusted EBITDA $80–$85 million.

• Free cash flow expected to decline year-over-year due to timing benefits in 2025 and the exit from television.

• Upfront investments in franchise marketing and SG&A will act as a headwind in 2026 but are expected to drive future growth.