Full-year gross margin of 60% in FY2025
Scaled programmatic and international channels to 48% of Q4 2025 gross revenue1 mix
Entering 2026 with strong momentum ahead of U.S. mid-term election cycle expected to drive increased demand and margin expansion
Conference call to be hosted on May 01, 2026 at 10:00 a.m. ET / 7 a.m. PT
TORONTO, April 30, 2026 /CNW/ -- Sabio Holdings Inc. (TSXV:SBIO) (OTCQB:SABOF) (the "Company" or "Sabio"), a Los Angeles-based ad-tech company helping global brands reach, engage and validate (R.E.V.) streaming TV audiences, today announced its audited consolidated financial results for the fiscal fourth quarter and year ended December 31, 2025. Unless otherwise indicated, all amounts are expressed in U.S. dollars.
"Despite economic uncertainties, including tariff-related impacts on two of our larger verticals, automotive and telecommunications, Sabio delivered double-digit top-line growth in its core business, supported by ongoing investment in product innovation and geographic expansion," said Aziz Rahimtoola, Sabio Holdings' CEO. "2025 was a year of strategic execution and transformation for Sabio. We scaled programmatic, expanded internationally, and built out Creator TV, further diversifying our revenue base. These initiatives are now contributing meaningfully to our results and positioning us for more predictable, scalable growth, underscoring the resilience of our platform and customer base even amid category-specific softness."
"As we enter 2026, we are doing so with strong momentum across our business and ahead of a major U.S. mid-term election cycle. Historically, these cycles drive significant demand for streaming TV and mobile video advertising, and we believe Sabio is better positioned than ever to capture that opportunity."
Fiscal 2025 Financial Highlights
Full-year consolidated gross revenue1 of $41.3 million (vs. $49.6 million in FY2024) and up 15% from $36.0 million in the last non-election year (2023). Core-business gross revenue2 grew 10% year over year, normalized for political and advocacy.
Core ad-supported streaming gross revenue2 grew 18% year over year (normalized for political and advocacy). Total ad-supported streaming gross revenue2 declined to $30.2 million from $38.6 million, reflecting the expected post-election pullback in political and advocacy spending.
Sabio's newest international and programmatic offerings accelerated through 2025, with international sales3 rising from $0.2 million in Q1 to $2.6 million in Q4, and programmatic sales from $0.2 million to $2.7 million.
Full year gross margin of 60%.
Full-year Adjusted EBITDA4 loss of $7.1 million (vs. $3.8 million gain in FY2024), driven by lower political and advocacy spend in a non-election year, continued investment in growth initiatives (international, programmatic and Creator TV), and higher cloud infrastructure costs to support scaling programmatic and international volumes.
Fourth Quarter 2025 Financial Highlights
Consolidated gross revenue1 of $11.2 million in Q4 2025 (vs. $18.3 million in Q4 2024), reflecting the expected post-election decline in political and advocacy spend, with some softness in select verticals tied to tariff uncertainty. Despite these headwinds, core-business gross revenue2 grew 10% year over year, normalized for political and advocacy.
Core ad-supported streaming gross revenue2 grew 29% year over year (normalized for political and advocacy). Total ad-supported streaming gross revenue2 declined to $8.4 million from $14.5 million, reflecting elevated spend in the prior year tied to the 2024 U.S. general election.
Programmatic and international channels represented 48% of Q4 2025 revenue mix.
Gross margin remained strong (57%), supported by Sabio's end-to-end technology stack amid an evolving revenue mix.
Adjusted EBITDA4 loss of $2.1 million (vs. $2.8 million gain in Q4 2024), reflecting lower political and advocacy spend in a non-election year and temporary softness in select advertiser categories tied to tariff uncertainty.
Subsequent Highlights
On April 29, 2026, the Company completed a tranche of a non-brokered private placement of 12% subordinated, secured convertible debentures for gross proceeds of CAD $900,000. The debentures have a 12-month term, bear 12% simple interest (calculated daily, paid semi-annually in arrears and at conversion or maturity), and are convertible at the holder's option at C$0.30 per share. The debentures are secured by a general security agreement over all present and after-acquired personal property. At maturity, any unconverted principal is repayable at 107% plus accrued interest. The Company may complete additional tranches.
Business Highlights
Strategic Diversification Driving Scalable Growth
Programmatic and international channels scaled significantly throughout 2025, reaching 48% of Q4 2025 revenue mix
Both channels contributed meaningfully to full-year revenue growth, reflecting successful execution of diversification strategy
Core Branded Business
Core ad-supported streaming revenue2 grew 29% year-over-year (normalized)
Growth was achieved despite softness in the automotive category in the second half of 2025, reflecting broader industry headwinds
Approximately 80% reoccurring revenue5 base, supporting revenue stability
Strong client retention with increased spend from existing customers
Expanding and Diversifying Customer Base
New customer logos increased 153% year-over-year
Growth across telecommunications, financial services, entertainment, and technology verticals
Increasing engagement with Fortune 500 advertisers
Creator TV Growth and Monetization
Expanded Creator TV distribution across major streaming platforms
Growth in original content and live programming
Strengthening of Sabio's owned-and-operated media ecosystem
App Science® Platform and Data Leadership
Reaches approximately 80 million U.S. households, representing ~70% of the estimated 115 million U.S. streaming households, according to eMarketer6
AI-powered targeting, analytics, and performance measurement capabilities
Increasing adoption across campaigns and insights offerings
Operational and Financial Position
Continued investments in programmatic, Creator TV, and international expansion
Balance sheet strengthened through financing and debt restructuring initiatives
Positioned to benefit from increasing operating leverage as scalable channels grow
Business OutlookSabio enters fiscal 2026 with strong momentum following the successful diversification of its revenue base in 2025.
The Company's scaled programmatic and international offerings, combined with its expanding Creator TV ecosystem, are expected to contribute more meaningfully to results in 2026. As these channels grow, Sabio expects to benefit from increased operating leverage through its technology platform, enabling more efficient revenue growth with limited incremental headcount.
Sabio's strengthened customer base and high level of reoccurring revenue also provide increased visibility and predictability entering the year.
Early 2026 TrendsBased on current internal data and sales pipeline trends, early activity in the first quarter of 2026 indicates continued strong momentum, with programmatic and international revenues3 growing at over 20x year-over-year levels.
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1
Gross revenue is a non‑IFRS (non‑GAAP) financial measure; see "Use of Non‑IFRS Measures" and "Selected Financials" for definitions and reconciliations to the most directly comparable IFRS measure.
2
Core-business gross revenue, core ad-supported streaming gross revenue and total ad-supported streaming gross revenue are supplementary financial measures; see "Use of Non‑IFRS Measures" for definitions.
3
International sales is a supplementary financial measure; see "Use of Non‑IFRS Measures" for its definition.
4
Adjusted EBITDA is a non‑IFRS (non‑GAAP) financial measure; see "Use of Non‑IFRS Measures" and "Selected Financials" for definitions and reconciliations to the most directly comparable IFRS measure.
5
Reoccurring revenue is a non‑IFRS (non‑GAAP) financial measure; see "Use of Non‑IFRS Measures" and "Selected Financials" for definitions and reconciliations to the most directly comparable IFRS measure
6
eMarketer "CTV households will be more than double traditional pay TV ones by next year"
Positioned for U.S. Mid-Term Election CycleSabio is entering the 2026 U.S. mid-term election cycle, which historically drives significant demand across streaming TV and mobile video advertising.
The Company expects:
Increased political and advocacy advertising spend
Improved cash flow visibility due to prepaid campaign spending
Potential margin expansion driven by premium demand for targeted advertising
With a more ...
