Report
FREE
• Sabio reported strong Q2/25 financial results, including revenue of $11.2M (+25% YoY), compared to our estimate of $10.2M. This was driven by 8% growth from the ad-supported streaming segment and 88% growth from the mobile segment.
• Adjusted EBITDA came in at ($1.2M), slightly lower than our projected ($0.9M) due to continued investments into growth initiatives.
• Sabio remains set up for a strong 2026 with multiple catalysts.
Yesterday after market close, Sabio Holdings Inc. (SBIO:TSXV, SABOF:OTC) reported solid Q2 financial results, posting 25% revenue growth (beating our expectations) and its fifth consecutive quarter of double-digit growth. Sabio is set up for a catalyst-heavy year ahead, with H2/25 being seasonally stronger and 2026 featuring many political tailwinds. We are maintaining our BUY rating and C$1.00/share target price on Sabio Holdings.
Q2/25 Highlights
• Revenue came in at $11.2M (+25% YoY), beating our estimate of $10.2M and 13% industry growth. Normalizing to exclude political sales, revenue increased 29% YoY, reflecting the continued shift to the more consistent revenue sources.
• This included $7.4M in ad-supported streaming revenue (+8% YoY), $3.5M in mobile display revenue (+88% YoY), and $0.2M in other revenue (+71% YoY). The mobile segment saw large growth from performance marketing and mobile video adoptions. Ad-supported streaming revenue would have been up 13% YoY after normalizing for political revenue, benefiting from growth across the automotive, finance, lottery, legal, and advocacy industries.
• Management highlighted double-digit growth from its NY, LA, and Detroit offices, as well as triple-digit growth from its European footprint and Washington, DC advocacy business. 92% of revenue was reoccurring in H1.
• Sabio’s new programmatic CTV/OTT offering contributed to the growth, with average MoM programmatic sales growth of 94% in H1.
• Gross margin was 61%, compared to our estimate of 60% and 61% in Q2/24.
• Adjusted EBITDA was ($1.2M) compared to our estimate of ($0.9M). This represented an (11%) EBITDA margin, compared to (18%) in Q1/25 and (3%) in Q2/24. Management attributed the continued losses to investments into Creator TV, programmatic offerings, and performance marketing offerings, in addition to cloud infrastructure costs.
• Net income of ($1.4M) vs. our estimate of ($1.5M).
• Sabio ended the quarter with $2.2M in cash (prior to its debenture financing). and debt of $8.2M.
SBIO: Q2 Financials; Proving Consistent Revenue Growth
What you need to know:• Sabio reported strong Q2/25 financial results, including revenue of $11.2M (+25% YoY), compared to our estimate of $10.2M. This was driven by 8% growth from the ad-supported streaming segment and 88% growth from the mobile segment.
• Adjusted EBITDA came in at ($1.2M), slightly lower than our projected ($0.9M) due to continued investments into growth initiatives.
• Sabio remains set up for a strong 2026 with multiple catalysts.
Yesterday after market close, Sabio Holdings Inc. (SBIO:TSXV, SABOF:OTC) reported solid Q2 financial results, posting 25% revenue growth (beating our expectations) and its fifth consecutive quarter of double-digit growth. Sabio is set up for a catalyst-heavy year ahead, with H2/25 being seasonally stronger and 2026 featuring many political tailwinds. We are maintaining our BUY rating and C$1.00/share target price on Sabio Holdings.
Q2/25 Highlights
• Revenue came in at $11.2M (+25% YoY), beating our estimate of $10.2M and 13% industry growth. Normalizing to exclude political sales, revenue increased 29% YoY, reflecting the continued shift to the more consistent revenue sources.
• This included $7.4M in ad-supported streaming revenue (+8% YoY), $3.5M in mobile display revenue (+88% YoY), and $0.2M in other revenue (+71% YoY). The mobile segment saw large growth from performance marketing and mobile video adoptions. Ad-supported streaming revenue would have been up 13% YoY after normalizing for political revenue, benefiting from growth across the automotive, finance, lottery, legal, and advocacy industries.
• Management highlighted double-digit growth from its NY, LA, and Detroit offices, as well as triple-digit growth from its European footprint and Washington, DC advocacy business. 92% of revenue was reoccurring in H1.
• Sabio’s new programmatic CTV/OTT offering contributed to the growth, with average MoM programmatic sales growth of 94% in H1.
• Gross margin was 61%, compared to our estimate of 60% and 61% in Q2/24.
• Adjusted EBITDA was ($1.2M) compared to our estimate of ($0.9M). This represented an (11%) EBITDA margin, compared to (18%) in Q1/25 and (3%) in Q2/24. Management attributed the continued losses to investments into Creator TV, programmatic offerings, and performance marketing offerings, in addition to cloud infrastructure costs.
• Net income of ($1.4M) vs. our estimate of ($1.5M).
• Sabio ended the quarter with $2.2M in cash (prior to its debenture financing). and debt of $8.2M.
Underlying
Sabio Holdings, Inc. (SBIO)
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Nicholas Cortellucci, CFA
Other Reports on these Companies
Other Reports from Atrium Research Corporation
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.