Ionik Delivers Record Revenue & Adjusted EBITDA in Second Quarter 2025
Ionik Corporation (OTCQB: INIKF) reported strong financial results for Q2 2025, achieving record quarterly revenue of $53.5 million, up 20% year-over-year and 28% quarter-over-quarter. The company posted record quarterly Adjusted EBITDA of $9.3 million, representing a 58% increase from Q2 2024.
Key financial metrics include a gross profit increase of 28% to $21.4 million (40% margin) and Adjusted Free Cash Flow of $7.3 million. The company reduced its senior debt by $4.3 million, though it reported a net loss of $2.8 million. Growth was primarily driven by the strategic acquisitions of Nimble5 and Rise4 in late 2024.
The company maintains a solid capital position with $5.1 million in cash and an undrawn $10 million revolving facility. Total undiscounted debt decreased to $117.5 million, showing improved debt management.
Ionik Corporation (OTCQB: INIKF) ha riportato risultati finanziari positivi per il 2° trimestre 2025, registrando un ricavo trimestrale record di $53,5 milioni, in crescita del 20% su base annua e del 28% rispetto al trimestre precedente. L'azienda ha segnato un Adjusted EBITDA trimestrale record di $9,3 milioni, pari a un incremento del 58% rispetto al Q2 2024.
I principali indicatori finanziari evidenziano un utile lordo aumentato del 28% a $21,4 milioni (margine del 40%) e un Adjusted Free Cash Flow di $7,3 milioni. La società ha ridotto il debito senior di $4,3 milioni, pur registrando una perdita netta di $2,8 milioni. La crescita è stata trainata soprattutto dalle acquisizioni strategiche di Nimble5 e Rise4 alla fine del 2024.
La posizione di capitale rimane solida con $5,1 milioni in cassa e una linea di credito rotativa non utilizzata di $10 milioni. Il debito totale non attualizzato è sceso a $117,5 milioni, a testimonianza di una migliore gestione dell'indebitamento.
Ionik Corporation (OTCQB: INIKF) comunicó sólidos resultados financieros en el 2T 2025, con ingresos trimestrales récord de $53,5 millones, un aumento del 20% interanual y del 28% respecto al trimestre anterior. La compañía registró un Adjusted EBITDA trimestral récord de $9,3 millones, un 58% más que en el 2T 2024.
Las métricas clave muestran un aumento del beneficio bruto del 28% hasta $21,4 millones (margen del 40%) y un Adjusted Free Cash Flow de $7,3 millones. La empresa redujo su deuda senior en $4,3 millones, aunque reportó una pérdida neta de $2,8 millones. El crecimiento se impulsó principalmente por las adquisiciones estratégicas de Nimble5 y Rise4 a finales de 2024.
La compañía mantiene una sólida posición de capital con $5,1 millones en efectivo y una línea revolvente no dispuesta de $10 millones. La deuda total sin descontar disminuyó a $117,5 millones, lo que refleja una mejor gestión del endeudamiento.
Ionik Corporation (OTCQB: INIKF)는 2025년 2분기에 실적 호조를 보고했습니다. 분기 매출은 $53.5백만으로 전년 동기 대비 20%, 전분기 대비 28% 증가하며 분기 사상 최고를 기록했습니다. 회사는 분기별 조정 EBITDA $9.3백만을 기록했으며, 이는 2024년 2분기 대비 58% 증가한 수치입니다.
주요 재무 지표로는 총이익이 28% 증가한 $21.4백만 (마진 40%)과 조정된 잉여현금흐름(Adjusted Free Cash Flow) $7.3백만이 포함됩니다. 회사는 선순위 채무를 $4.3백만 감축했으나 순손실 $2.8백만을 보고했습니다. 성장은 주로 2024년 말 전략적 인수인 Nimble5 및 Rise4에 의해 촉진되었습니다.
회사 자본 상태는 $5.1백만 현금과 미사용 $10백만 회전 신용한도로 견조합니다. 총 미할인 부채는 $117.5백만으로 감소하여 부채 관리가 개선되었음을 보여줍니다.
Ionik Corporation (OTCQB: INIKF) a publié de solides résultats financiers pour le 2e trimestre 2025, atteignant un chiffre d'affaires trimestriel record de 53,5 M$, en hausse de 20% sur un an et de 28% par rapport au trimestre précédent. La société a enregistré un EBITDA ajusté trimestriel record de 9,3 M$, soit une augmentation de 58% par rapport au T2 2024.
Les principaux indicateurs financiers incluent une hausse du bénéfice brut de 28% à 21,4 M$ (marge de 40%) et un flux de trésorerie disponible ajusté de 7,3 M$. La société a réduit sa dette senior de 4,3 M$, tout en enregistrant une perte nette de 2,8 M$. La croissance a été principalement portée par les acquisitions stratégiques de Nimble5 et Rise4 fin 2024.
La situation de trésorerie reste solide avec 5,1 M$ en liquidités et une facilité de crédit renouvelable non utilisée de 10 M$. La dette totale non actualisée est tombée à 117,5 M$, reflétant une meilleure gestion de l'endettement.
Ionik Corporation (OTCQB: INIKF) meldete starke Finanzergebnisse für Q2 2025 und erzielte einen Rekordquartalsumsatz von $53,5 Mio., ein Anstieg von 20% gegenüber dem Vorjahr und 28% gegenüber dem Vorquartal. Das Unternehmen verzeichnete ein rekordverdächtiges quartalsweises Adjusted EBITDA von $9,3 Mio., was einer Steigerung von 58% gegenüber Q2 2024 entspricht.
Wesentliche Finanzkennzahlen umfassen einen Bruttogewinnanstieg um 28% auf $21,4 Mio. (Marge 40%) sowie ein Adjusted Free Cash Flow von $7,3 Mio.. Das Unternehmen reduzierte seine Senior-Schulden um $4,3 Mio., meldete jedoch einen Nettoverlust von $2,8 Mio. Wachstum wurde vor allem durch die strategischen Übernahmen von Nimble5 und Rise4 Ende 2024 angetrieben.
Die Kapitalausstattung bleibt solide mit $5,1 Mio. in bar und einer ungenutzten $10 Mio. revolvierenden Kreditlinie. Die gesamte nicht abgezinste Verschuldung sank auf $117,5 Mio., was auf eine verbesserte Schuldensteuerung hinweist.
- Record quarterly revenue of $53.5M, up 20% YoY and 28% QoQ
- Record Adjusted EBITDA of $9.3M, increasing 58% YoY
- Gross profit margin improved to 40% from 37% in Q2 2024
- Strong Adjusted Free Cash Flow of $7.3M with 79% conversion rate
- Reduced total debt by $5M in Q2 2025
- Successful integration of Nimble5 and Rise4 acquisitions driving growth
- Net loss of $2.8M compared to net income of $0.1M in Q2 2024
- Cash position decreased to $5.1M from $12.7M in Q1 2025
- High total debt level of $117.5M despite reduction
- Senior debt net of cash increased to $74.6M from $71.4M in Q1 2025
Record Quarterly Revenue of
Record Quarterly Adjusted EBITDA1 of
Generated Adjusted Free Cash Flow1 of
(All figures in US dollars, unless otherwise indicated)
Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - Ionik Corporation (TSXV: INIK) (OTCQB: INIKF) (the "Company"), a data and technology-driven marketing and advertising solutions company, announced its financial results for the second quarter ended June 30, 2025.
Financial Highlights for the Second Quarter 2025
Revenue of
$53.5 million , an increase of20% compared to$41.8 million in the same period of the prior year ("Q2 2024"), and28% over the prior quarter ("Q1 2025"). The change versus the prior year was mainly attributable to the acquisitions of Nimble5, LLC in September 2024 and Rise4 Inc. in November 2024 (the "2024 Acquisitions")Gross profit increased
28% to$21.4 million (40% gross profit margin), compared to$16.7 million (37% gross profit margin) in Q2 2024. The increase was predominantly attributable to growth driven by the 2024 acquisitions.Adjusted EBITDA1 of
$9.3 million increased58% over Q2 2024 and47% over Q1 2025, with growth derived mainly from the 2024 Acquisitions.Adjusted Free Cash Flow1 of
$7.3 million (79% Adjusted Free Cash Flow conversion rate1), compared to$3.9 million (67% Adjusted Free Cash Flow conversion rate1) for Q2 2024. Adjusted Free Cash Flow1 reported in Q2 2024 was affected by income taxes paid totalling$1.9 million .Net loss after tax from continuing operations of
$2.8 million versus a net income of$0.1 million for Q2 2024.Cash as at June 30, 2025 was
$5.1 million , compared to$12.7 million at March 31, 2025 and$6.8 million at June 30, 2024. As at June 30, 2025, the Company had not drawn on its revolving facility of$10.0 million . Management believes that its current capital position is sufficient to execute its current business and operational strategies.Total undiscounted debt decreased by
$5 million as at June 30, 2025. The total undiscounted balance was$117.5 million , including$79.7 million of senior lender debt,$29.6 million of convertible debt, and$5.3 million in a vendor take-back loan and$3.0 million in working capital note compared to$122.5 million in total debt as at March 31, 2025 and$126.5 million in total debt as at December 31, 2024. The decrease compared to the undiscounted debt balance at March 31, 2025 resulted primarily from principal payments of$4.3 million on the senior debt term facility in the quarter. Senior debt net of cash was$74.6 million at June 30, 2025, compared to$71.4 million at March 31, 2025 and$73.4 million at December 31, 2024.
1Please refer to "Non-IFRS Measures" section of this press release
Ted Hastings, Ionik's CEO commented, "During highly dynamic market conditions our platform and team have responded well as evidenced by our strong EBITDA and Revenues in Q2. We have focused this year on integration across our two platforms - Marketing Optimization and Media Activation - and that streamlined focus is allowing us to service our growing customers better while improving our gross profit margins. We remain confident in the platform and team we've assembled and our ability to achieve our objectives in the second half."
Non-IFRS Measures
The Company prepares its financial statements in accordance with International Financial Reporting Standards ("IFRS"). However, the Company considers certain non-IFRS financial measures as useful additional information to assess its financial performance. These measures, which it believes are widely used by investors, securities analysts and other interested parties to evaluate its performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include "Adjusted EBITDA","Adjusted Free Cash Flow" and "Adjusted Free Cash Flow conversion rate".
Adjusted EBITDA and Adjusted Free Cash Flow
Consolidated adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") is a non-IFRS measure of financial performance. Company management defines Adjusted EBITDA as IFRS Net income (loss) adding back finance costs, income taxes, depreciation and amortization, gain/loss on disposal of assets and extinguishment of loans, fair value gain/loss on financial liabilities and modification/extinguishment on loans, and excludes discontinued operations and the effects of significant items of income and expenditure which may have an impact on the quality of earnings, such as impairments where the impairment is the result of an isolated, non-recurring event. It also excludes the effects of equity-settled share-based payments, foreign exchange gains/losses, and other extraordinary one-time expenses, such as transaction costs and other severance and restructuring costs. See reconciliation of Adjusted EBITDA in the table below.
Company management defines "Adjusted Free Cash Flow" as Adjusted EBITDA less capital expenditures, such as acquisition of property and equipment and additions to intangibles for capitalized development costs, and income taxes paid during the period. Similarly, Company management defines "Adjusted Free Cash Flow conversion rate" as Adjusted Free Cash Flow divided by Adjusted EBITDA. See reconciliation of Adjusted Free Cash Flow in the table below.
The presentation of these non-IFRS financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS and may be different from non-IFRS financial measures used by other companies.
Management believes Adjusted EBITDA and Adjusted Free Cash Flow are useful financial metrics to assess its operating performance on a cash basis before the impact of non-cash and extraordinary one-time items.
The following tables presents the Company's calculation of Adjusted EBITDA and Adjusted Free Cash Flow for each period:
| For the three months ended | ||||||||||||
| June 30 | March 31, | December 31, | September 30, | |||||||||
| 2025 | 2025 | 2024 | 2024 | |||||||||
| Net loss (income) | $ | (2,787 | ) | $ | (3,581 | ) | $ | (16,869 | ) | $ | (2,941 | ) |
| Add: | ||||||||||||
| Finance costs | 4,948 | 4,546 | 4,483 | 3,092 | ||||||||
| Income tax (recovery) expense | 1,790 | 523 | (3,012 | ) | 1,112 | |||||||
| Depreciation and amortization | 4,711 | 4,729 | 6,119 | 3,936 | ||||||||
| Impairment loss on intangibles and goodwill | - | - | 14,052 | - | ||||||||
| Gain on disposal of games | - | - | - | (110 | ) | |||||||
| Fair value loss (gain) on financial liabilities | 594 | (478 | ) | 1,651 | (33 | ) | ||||||
| Gain on modification/extinguishment of loan | - | - | (16 | ) | - | |||||||
| Share-based compensation expense | 130 | 163 | 30 | 202 | ||||||||
| Extraordinary one-time expenses (recovery) | (146 | ) | 326 | 995 | 615 | |||||||
| Foreign exchange (gain) loss | 101 | 134 | (43 | ) | 135 | |||||||
| Non-recurring income | (53 | ) | (33 | ) | (50 | ) | (45 | ) | ||||
| Adjusted EBITDA | $ | 9,288 | $ | 6,329 | $ | 7,340 | $ | 5,963 | ||||
| Less: | ||||||||||||
| Acquisition of property and equipment | (16 | ) | (13 | ) | (12 | ) | (6 | ) | ||||
| Additions to intangible assets | (75 | ) | (76 | ) | (75 | ) | (70 | ) | ||||
| Taxes paid | (1,889 | ) | (144 | ) | (2,447 | ) | (406 | ) | ||||
| Adjusted Free Cash Flow | $ | 7,308 | $ | 6,096 | $ | 4,806 | $ | 5,481 | ||||
| For the three months ended | ||||||||||||
| June 30, | March 31, | December 31, | September 30, | |||||||||
| 2024 | 2024 | 2023 | 2023 | |||||||||
| Net loss (income) | $ | 147 | $ | (2,678 | ) | $ | (44,719 | ) | $ | (1,703 | ) | |
| Add: | ||||||||||||
| Finance costs | 2,651 | 2,554 | 2,332 | 2,024 | ||||||||
| Income tax (recovery) expense | 1,440 | 88 | (10 | ) | 105 | |||||||
| Depreciation and amortization | 3,565 | 3,572 | 3,589 | 3,328 | ||||||||
| Impairment loss on intangibles and goodwill | - | - | 41,270 | - | ||||||||
| Gain on disposal of games | (2,772 | ) | - | - | - | |||||||
| Gain (loss) on disposal of assets | - | - | 8 | (8 | ) | |||||||
| Loss on modification/extinguishment of loan | - | - | 1,691 | - | ||||||||
| Share-based compensation expense | 186 | 221 | 494 | 242 | ||||||||
| Extraordinary one-time expenses | 576 | 61 | 823 | 280 | ||||||||
| Foreign exchange loss | 99 | 157 | 75 | 100 | ||||||||
| Non-recurring income | (12 | ) | (72 | ) | - | - | ||||||
| Adjusted EBITDA | $ | 5,880 | $ | 3,903 | $ | 5,553 | $ | 4,368 | ||||
| Less: | ||||||||||||
| Acquisition of property and equipment | (12 | ) | (17 | ) | (2 | ) | (19 | ) | ||||
| Additions to intangible assets | (69 | ) | (70 | ) | (251 | ) | (456 | ) | ||||
| Taxes paid | (1,865 | ) | (1,858 | ) | (21 | ) | (1,334 | ) | ||||
| Adjusted Free Cash Flow | $ | 3,934 | $ | 1,958 | $ | 5,279 | $ | 2,559 | ||||
| For the Six Months Ended | ||||||
| June 30, | ||||||
| 2025 | 2024 | |||||
| Net loss | $ | (6,368 | ) | $ | (2,531 | ) |
| Add: | ||||||
| Finance costs | 9,494 | 5,205 | ||||
| Income tax (recovery) expense | 2,313 | 1,528 | ||||
| Depreciation and amortization | 9,440 | 7,137 | ||||
| Gain on disposal of games | - | (2,772 | ) | |||
| Fair value loss on financial liabilities | 116 | - | ||||
| Share-based compensation expense | 293 | 407 | ||||
| Extraordinary one-time expenses | 180 | 637 | ||||
| Foreign exchange loss | 235 | 256 | ||||
| Non-recurring income | (86 | ) | (84 | ) | ||
| Adjusted EBITDA | $ | 15,617 | $ | 9,783 | ||
| Less: | ||||||
| Acquisition of property and equipment | (29 | ) | (29 | ) | ||
| Additions to intangible assets | (151 | ) | (139 | ) | ||
| Taxes paid | (2,033 | ) | (3,723 | ) | ||
| Adjusted Free Cash Flow | $ | 13,404 | $ | 5,892 | ||
Financial Statements and MD&A
Ionik's Financial Statements for the three months ended June 30, 2025, and Management's Discussion and Analysis for the same period, are posted on its corporate website at www.ir.ionikgroup.com and available on the Company's profile on SEDAR+ at www.sedarplus.ca.
About Ionik
Ionik, a Tier 1 Issuer on the TSX Venture Exchange, with shares also trading on the OTCQB Venture Market, is a technology-driven marketing and advertising solutions company that helps brands, advertisers, and publishers connect with their audiences through data-driven insights and advanced automation. By leveraging its extensive suite of technology, creative expertise, and proprietary first-party data, Ionik optimizes the entire customer acquisition and retention journey.
Ionik's platform unifies marketing automation, media activation, and data management to create a seamless advertising ecosystem, helping businesses efficiently source, retain, and monetize their customers
Additional information about the Company is available at www.sedarplus.ca.
Ionik Corporation
Sean Peasgood
Investor Relations
(647) 777-7564
Sean@SophicCapital.com
Jeff Collins
CFO/COO
(416) 583-5918
invest@popreach.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking information includes, but is not limited to, statements with respect to the business, financials and operations of the Company, statements with respect to the Company's sufficiency of its capital position to execute on business and operational strategies, successful integration of acquisitions, operational and financial growth strategy, ability to make debt repayments, expected Adjusted Free Cash Flow and anticipated success in customer adoption of the Company's products and services. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including but not limited to assumptions relating to continued customer support for the Company's products and services, competition, the ability of the Company to innovate and advance its product and service offerings, general market conditions, exchange rate, global financial conditions, the ability of the Company to meet its liabilities as they become due, the ability of the Company to integrate and successfully capitalize on acquisitions, and the factors described in greater detail in the public documents of the Company available at www.sedarplus.ca. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Investors are cautioned that undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264351
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