-- Blue Ant Media (BAMI.TO), down 11% on last look, said Tuesday that second-quarter net loss widened even as revenue rose.
The company said net loss widened by 25% to $6.0 million, or $0.23 per share, from a net loss of $4.8 million, or $0.30 per share, in the prior year period. The increased loss was due to higher costs of $7.4 million, due to recent transactions.
Revenue jumped 82% to near $70 million over the same period. The increase was predominantly earned in the company's production and distribution segment from both proprietary and service production, and also reflect the acquisition of three production companies and one month of Thunderbird Entertainment. Strong performance in Global Channels and Streaming also contributed to the favourable year-over-year results, Blue Ant said.
"Fiscal 2026 is a transformation year for Blue Ant as we position the Company for sustainable long-term growth," said chief executive Michael MacMillan. "Over the past several months, we have completed three strategic acquisitions, including Thunderbird Entertainment in Q2, more than doubling our revenue base and significantly expanding the scale of our studio and rights businesses. We are executing a disciplined integration strategy and are on track to achieve our Thunderbird synergy target."
Blue Ant Media shares were last seen down $0.72, to $5.75, on the Toronto Stock Exchange.
Price: $5.70, Change: $-0.77, Percent Change: -11.90%