Blue Ant Media (TSX:BAMI) Reports 65% Revenue Increase in Q1 2026

TORONTO, Ontario — January 14, 2026 — Leads & Copy — Blue Ant Media Corporation (TSX: BAMI) reported its financial results for the three months ended November 30, 2025, the first quarter of its fiscal year 2026. The company, which operates as an international streamer, production studio, and rights business, announced revenue growth of 65% year-over-year, reaching $80.5 million. This reflects contributions from strategic acquisitions and the execution of the company’s growth strategy.

Blue Ant Media also generated $5.2 million in cash from operations during the quarter. The company highlighted its strong balance sheet, which includes surplus cash, minimal debt, and substantial undrawn credit capacity to support future growth.

According to Michael MacMillan, CEO of Blue Ant Media, the Q1 results align with expectations. He noted that the revenue increase was driven by strong performance in the studio business and contributions from recent acquisitions. While adjusted EBITDA and margins were affected by planned accounting items related to the Reverse Takeover (RTO), the underlying operating performance remained solid.

MacMillan added that the company significantly reduced corporate debt and exited the quarter with access to over $100 million in capital to support continued growth. Blue Ant Media anticipates further growth and earnings with the planned acquisition of Thunderbird Entertainment Group, expected to close in the first quarter of calendar 2026.

Financial Highlights:

Q1 2026 revenue: $80.5 million, compared to $48.7 million in the prior year period.
Q1 2026 Adjusted EBITDA: $5.0 million, compared to $6.4 million in the prior year period.
Q1 2026 net loss: $6.8 million, compared to a net income of $1.2 million in the prior-year period, reflecting non-recurring items.
Generated $5.2 million of cash from operations in Q1 2026.
The company has a strong liquidity position, with $34.0 million in cash as of November 30, 2025, bank indebtedness of $0.5 million, and $63.2 million of undrawn capacity under the company’s corporate credit facility.
Repaid $19.1 million on its operating debt facility during the quarter.
Completed the sale of the VTB Note, generating net cash proceeds of $13.6 million.
The company anticipates receiving an additional $34.7 million capital contribution in connection with the RTO from Fairfax Financial Holdings Limited by March 2026.

Operational Highlights:

Acquired MagellanTV LLC on October 2, 2025, for $12 million USD.
Integration of Magellan, Insight Productions, Jam Filled Entertainment, and Proper Television is progressing as planned.
Expanded FAST footprint with multiple channel feeds launched across several platforms globally, including Roku, Samsung, Vizio, PlutoTV, LG, and FireTV.
Launched Love Nature Pay TV channel on Telia.
Slaycation season 2 premiered on Crave on December 12th.
Canada’s Drag Race season 6 premiered on Crave on November 20th, and season 7 was greenlit.
Production continued on The Great Canadian Baking Show season 9 (CBC), and season 10 was greenlit.
Other titles in production include Extracted season 2 (Fox), Top Chef Canada season 8 (Global), Canada Shore (Paramount+ Canada), and The Loud House season 9 (Nickelodeon).
Major distribution sales included Matthew Perry: A Hollywood Tragedy to over 50 territories and Mike Holmes: Building a Legacy seasons 1 and 2 licensed to Warner Bros. Discovery for HGTV US.
Entered into a definitive arrangement agreement on November 26, 2025, to acquire Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF).
Thunderbird is expected to hold its shareholder vote on the transaction on January 22nd, 2026, and a final hearing order from the Supreme Court of British Columbia has been scheduled for January 26th, 2026.