EarthLabs Reports Results for the Second Quarter of 2026
Rhea-AI Summary
EarthLabs (TSXV: SPOT, OTCQX: SPOFF) reported Q2 2026 results for the period ended June 30, 2026. Advertising and sponsorships revenue rose 61.7% year-over-year to $2,581,638, while subscription revenue increased 11.8% to $349,911. Net investment gains were $2,270,587, down 65.3% from Q2 2025. Net income was $1,501,940, with basic and diluted EPS of $0.01 versus $0.04 a year earlier.
For the first six months of 2026, advertising revenue grew 64.5% to $5,245,333 and subscriptions 12.2% to $700,233. Net investment gains declined to $2,834,756 from $8,563,558, and net income fell to $1,387,896. EarthLabs ended June 30, 2026 with $80,493,278 in cash, amounts due from brokers, investments and equity investments, total assets of $84,868,567 and total liabilities of $11,001,740.
Positive
- Q2 2026 advertising and sponsorships revenue $2.58M, up 61.7% year-over-year
- Six-month 2026 advertising revenue $5.25M, up 64.5% versus prior-year period
- Q2 2026 subscription revenue $349,911, up 11.8% year-over-year
- Cash, due from brokers, investments and equity investments $80.49M at June 30, 2026
- Total liabilities reduced to $11.00M from $13.41M at December 31, 2025
- Deferred revenue balance $6.02M at June 30, 2026, indicating contracted future services
Negative
- Q2 2026 net investment gains $2.27M, down 65.3% from $6.54M in Q2 2025
- Six-month 2026 net investment gains $2.83M, down 66.9% from $8.56M in 2025 period
- Q2 2026 net income $1.50M versus $5.22M in Q2 2025; EPS $0.01 vs $0.04
- Six-month 2026 net income $1.39M versus $5.44M in 2025; EPS $0.01 vs $0.04
- Loss from equity investment widened to $98,022 in Q2 and $209,037 year-to-date
- Right-of-use assets decreased to $166,436 from $813,865, reflecting reduced leased asset base
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Toronto, Ontario--(Newsfile Corp. - August 25, 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 and six months ended June 30, 2026 of the Company (the "Financial Results").
Highlights for the three-months period ended June 30, 2026:
- Advertising and sponsorships revenue of
$2,581,638 as compared to$1,596,690 for the three months ended June 30, 2025, an increase of61.7% ; - Subscription revenue of
$349,911 as compared to$312,928 for the three months ended June 30, 2025, an increase of11.8% ; - Net investment gains of
$2,270,587 from our investment portfolio as compared to$6,541,465 for the three months ended June 30, 2025, a decrease of65.3% ; - Net income and comprehensive income of
$1,501,940 (basic earnings per share of$0.01) as compared to$5,215,580 (basic earnings per share of$0.04) for the three months ended June 30, 2025.
Highlights for the six-months period ended June 30, 2026:
- Completed the six-month period with total cash and cash equivalents, due from brokers, investments and equity investments of
$80,493,278 as compared to$80,200,152 , as at December 31, 2025; - Advertising revenue of
$5,245,333 as compared to$3,189,255 for the six months ended June 30, 2025, an increase of64.5% ; - Subscription revenue of
$700,233 as compared to$624,020 for the six months ended June 30, 2025, an increase of12.2% ; - Net investment gains of
$2,834,756 from our investment portfolio as compared to$8,563,558 for the six months ended June 30, 2025, a decrease of66.9% ; - Net income and comprehensive income of
$1,387,896 (basic earnings per share of$0.01) as compared to$5,437,554 (basic earnings per share of$0.04) for the six months ended June 30, 2025.
"Our second quarter demonstrates the strength of EarthLabs' operating business and the value of the platforms we've built to serve the mining industry," said Denis Laviolette, Executive Chairman and CEO of EarthLabs. "In Q2, advertising and sponsorships revenue jumped
Summary of financial results
The following are selected interim condensed consolidated financial results as at and for the three and six months ended June 30, 2026, with comparatives:
| Interim condensed consolidated statements of income and comprehensive income highlights | Three months ended June 30, | Six months ended June 30, | ||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Advertising and sponsorships | $ | 2,581,638 | $ | 1,596,690 | $ | 5,245,333 | $ | 3,189,255 | ||||
| Subscriptions revenue | 349,911 | 312,928 | 700,233 | 624,020 | ||||||||
| Sales of exploration maps | 24,424 | 34,684 | 91,951 | 76,612 | ||||||||
| Net investment gains | 2,270,587 | 6,541,465 | 2,834,756 | 8,563,558 | ||||||||
| Other income | 193,172 | 179,086 | 368,055 | 579,759 | ||||||||
| Operating, general and administrative | (3,231,550 | ) | (2,936,508 | ) | (6,514,575 | ) | (6,172,273 | ) | ||||
| Research and development expenses | (484,786 | ) | (438,484 | ) | (984,786 | ) | (1,297,745 | ) | ||||
| Total expenses | (3,726,297 | ) | (3,406,029 | ) | (7,530,527 | ) | (7,532,793 | ) | ||||
| Loss from equity investment | (98,022 | ) | (5,920 | ) | (209,037 | ) | (20,148 | ) | ||||
| Income tax expense | (93,473 | ) | (37,324 | ) | (112,868 | ) | (42,709 | ) | ||||
| Net income and comprehensive income for the period | 1,501,940 | 5,215,580 | 1,387,896 | 5,437,554 | ||||||||
| Earnings per common share for the period - basic | 0.01 | 0.04 | 0.01 | 0.04 | ||||||||
| Earnings per common share for the period - diluted | 0.01 | 0.04 | 0.01 | 0.04 | ||||||||
| Interim condensed consolidated statements of financial position highlights | June 30, 2026 | December 31, 2025 | ||||
| Cash and cash equivalents | $ | 4,040,349 | $ | 3,516,515 | ||
| Due from brokers | 1,772,852 | 861,833 | ||||
| Accounts receivable, net of expected credit losses | 245,851 | 305,458 | ||||
| Investments, at fair value | 72,859,418 | 73,792,108 | ||||
| Equity investment | 1,820,659 | 2,029,696 | ||||
| Sales tax recoverable | 47,510 | 54,326 | ||||
| Right-of-use assets, net | 166,436 | 813,865 | ||||
| Intangible assets | 2,650,333 | 2,708,333 | ||||
| Goodwill | 624,290 | 624,290 | ||||
| Total assets | 84,868,567 | 85,465,211 | ||||
| Accounts payable and accrued liabilities | 968,664 | 2,663,928 | ||||
| Deferred revenue | 6,023,302 | 6,488,475 | ||||
| Total lease liabilities | 185,685 | 889,552 | ||||
| Deferred tax liabilities | 3,199,186 | 3,207,821 | ||||
| Total liabilities | 11,001,740 | 13,410,824 | ||||
| Share capital, contributed surplus, and warrants | 53,242,636 | 52,818,092 | ||||
| Retained earnings | 20,624,191 | 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.
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