EarthLabs Reports Results for the First Quarter of 2026
Rhea-AI Summary
EarthLabs (OTCQX:SPOFF) reported Q1 2026 results for the period ended March 31, 2026.
Advertising revenue rose 67.3% to $2.66M, subscriptions grew 12.6%, and exploration map sales increased 61.1%. Net investment gains were $564K, and the company posted a net loss of $114K. Cash, due from brokers, investments and equity investments totaled $78.75M.
Positive
- Advertising revenue up 67.3% year-over-year to $2,663,695
- Subscription revenue up 12.6% year-over-year to $350,322
- Sales of exploration maps up 61.1% year-over-year to $67,527
- Fifth consecutive quarter of net investment gains at $564,169
- Total expenses decreased to $3,804,230 from $4,126,764 year-over-year
- Total liabilities decreased to $11,692,571 from $13,410,824
- Cash, due from brokers, investments and equity investments at $78,752,220
Negative
- Net result swung to $114,044 loss versus $221,974 income in Q1 2025
- Net investment gains declined to $564,169 from $2,022,093 year-over-year
- Cash and cash equivalents decreased to $2,325,729 from $3,516,515
- Investments at fair value decreased to $68,099,605 from $73,792,108
- Other income fell to $174,883 from $400,673 year-over-year
- Retained earnings decreased to $19,122,251 from $19,236,295
News Market Reaction – SPOFF
In the May 28 session, SPOFF declined 2.06%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - May 28, 2026) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) ("EarthLabs" or the "Company") is pleased to announce the consolidated financial results as at and for the three months ended March 31, 2026 of the Company (the "Financial Results").
Highlights for the three-month period ended March 31, 2026:
- Completed the quarter with total cash and cash equivalents, due from brokers, investments and equity investments of
$78,752,220 as compared to$80,200,152 as at December 31, 2025; 67.3% increase in Advertising revenue to$2,663,695 as compared to$1,592,565 for the three months ended March 31, 2025;12.6% increase in Subscription revenue to$350,322 as compared to$311,092 for the three months ended March 31, 2025;61.1% increase in Sales of exploration maps to$67,527 as compared to$41,928 for the three months ended March 31, 2025;- Net investment gains of
$564,169 from the Company's investment portfolio as compared to$2,022,093 for the three months ended March 31, 2025, marking the fifth consecutive quarter in which the Company reported net investment gains; - Net loss and comprehensive loss of
$114,044 (basic loss per share of$0.00) as compared to net income and comprehensive income of$221,974 (basic earnings per share of$0.00) for the three months ended March 31, 2025.
"With commodity prices remaining near record highs, we believe the long-term opportunity across the resource sector is as strong as we've seen in a generation," said Denis Laviolette, Executive Chairman and CEO of EarthLabs. "While parts of the junior mining market slowed in early 2026, EarthLabs kept building. We expanded our media reach, grew key subsidiary divisions, and continued to strengthen our position across mining media, data, and investments. Advertising revenue climbed
Summary of financial results
The following are selected consolidated financial results as at and for the three months ended March 31, 2026, with comparatives:
| Interim condensed consolidated statements of income (loss) and comprehensive income (loss) highlights | Three months ended March 31, | |||||
| 2026 | 2025 | |||||
| Advertising revenue | $ | 2,663,695 | $ | 1,592,565 | ||
| Subscription revenue | 350,322 | 311,092 | ||||
| Sales of exploration maps | 67,527 | 41,928 | ||||
| Net investment gains | 564,169 | 2,022,093 | ||||
| Other income | 174,883 | 400,673 | ||||
| Operating, general and administrative | (3,283,025 | ) | (3,235,765 | ) | ||
| Research and development expenses | (500,000 | ) | (859,261 | ) | ||
| Total expenses | (3,804,230 | ) | (4,126,764 | ) | ||
| Loss from equity investment | (111,015 | ) | (14,228 | ) | ||
| Income tax expense | (19,395 | ) | (5,385 | ) | ||
| Net income (loss) and comprehensive income (loss) for the period | (114,044 | ) | 221,974 | |||
| Earnings (loss) per common share for the period - basic and diluted | 0.00 | 0.00 | ||||
| Interim condensed consolidated statements of financial position highlights | March 31, 2026 | December 31, 2025 | ||||
| Cash and cash equivalents | $ | 2,325,729 | $ | 3,516,515 | ||
| Due from brokers | 6,408,205 | 861,833 | ||||
| Accounts receivable, net of expected credit losses | 371,470 | 305,458 | ||||
| Investments, at fair value | 68,099,605 | 73,792,108 | ||||
| Equity investment | 1,918,681 | 2,029,696 | ||||
| Sales tax recoverable | 191,817 | 54,326 | ||||
| Right-of-use assets, net | 769,227 | 813,865 | ||||
| Intangible assets | 2,679,227 | 2,708,333 | ||||
| Goodwill | 624,290 | 624,290 | ||||
| Total assets | 84,096,892 | 85,465,211 | ||||
| Accounts payable and accrued liabilities | 1,054,834 | 2,663,928 | ||||
| Deferred revenue | 6,458,010 | 6,488,475 | ||||
| Total lease liabilities | 850,623 | 889,552 | ||||
| Deferred tax liabilities | 3,137,440 | 3,207,821 | ||||
| Total liabilities | 11,692,571 | 13,410,824 | ||||
| Share capital, contributed surplus, and warrants | 53,282,070 | 52,818,092 | ||||
| Retained earnings | 19,122,251 | 19,236,295 |
About EarthLabs Inc.
EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) is a mining investment, technology, and media company that aims to provide strategic leverage to the metals and mining sector through investments, royalties and a full suite of data-driven media SaaS tools and services including CEO.CA, The Northern Miner, MINING.COM, Canadian Mining Journal and DigiGeoData.
For further information please contact:
Denis Laviolette
Executive Chairman and CEO
EarthLabs Inc.
Tel: 647-345-7720
Email: investors@earthlabs.com
Neither the TSX Venture Exchange ("TSXV"), OTC Best Market ("OTCQX") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements. Often, but not always, these forward-looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, risks detailed from time to time in the Company's filings with securities regulators and available under the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299103