EarthLabs Reports Results for the Second Quarter of 2025
Subscription revenue increased 4.1% for the quarter YoY and up 3.2% to $624,020 for the six months ended June 30, 2025.
Net investment gains of $6.5 million for the quarter and $8.6 million for the six months ended June 30, 2025, from our investment portfolio.
Ended the quarter with total cash, cash equivalents, and investments of $45.0 million.
Toronto, Ontario--(Newsfile Corp. - August 21, 2025) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0) (" EarthLabs" or the " Company") is pleased to announce the unaudited consolidated financial results for three and six months ended June 30, 2025 of the Company (the " Financial Results").
Highlights for the three-months period ended June 30, 2025:
Advertising revenue of $1,596,690 as compared to $1,444,784 for the three months ended June 30, 2024, an increase of 10.5%;
Subscription revenue of $312,928 as compared to $300,734 for the three months ended June 30, 2024, an increase of 4.1%;
Net investment gains of $6,541,465 from our investment portfolio as compared to Net investment losses of $427,144 for the three months ended June 30, 2024;
Net income and comprehensive income of $5,215,580 (basic earnings per share of $0.04) as compared to net loss and comprehensive loss of $1,962,457 (basic loss per share of $0.01) for the three months ended June 30, 2024.
Highlights for the six-months period ended June 30, 2025:
Completed the six-month period with total cash and cash equivalents, due from brokers, investments and equity investments of $45,046,593 as compared to $39,234,437, an increase of 14.8%, as at December 31, 2024;
Advertising revenue of $3,189,255 as compared to $2,860,470 for the six months ended June 30, 2024, an increase of 11.5%;
Subscription revenue of $624,020 as compared to $604,607 for the six months ended June 30, 2024, an increase of 3.2%;
Net investment gains of $8,563,558 from our investment portfolio as compared to $2,883,228 for the six months ended June 30, 2024;
Net income and comprehensive income of $5,437,554 (basic earnings per share of $0.04) as compared to Net loss and comprehensive loss of $356,571 (basic loss per share of $0.00) for the six months ended June 30, 2024.
"We are encouraged by our financial performance this quarter, highlighted by a 10.5% increase in advertising revenue and a 4.1% growth in subscription revenue," said Denis Laviolette, Executive Chairman and CEO of EarthLabs. "Most notably, we had strong returns from our investment portfolio which contributed to net investment gains of $6.5 million. As a result, we reported net income of $5.2 million, or $0.04 per share. These results reflect the continued strength of our core operations and disciplined investment strategy."
Summary of financial results
The following are selected interim condensed consolidated financial results as at and for the three and six ended June 30, 2025, with comparatives:
Interim condensed consolidated statements of income (loss) and comprehensive income (loss) highlights Three months ended
June 30, Six months ended
June 30,
2025 2024 2025 2024
Advertising revenue $ 1,596,690 $ 1,444,784 $ 3,189,255 $ 2,860,470
Subscriptions revenue 312,928 300,734 624,020 604,607
Sales of exploration maps 34,684 40,378 76,612 105,081
Net investment gains (losses) 6,541,465 (427,144) 8,563,558 2,883,228
Other income 179,086 198,982 579,759 477,228
Operating, general and administrative (2,936,508) (2,689,917) (6,172,273) (5,323,266)
Research and development expenses (438,484) (870,219) (1,297,745) (1,590,005)
Total expenses (3,406,029) (3,596,811) (7,532,793) (6,987,057)
Loss from equity investment (5,920) (1,671) (20,148) (16,511)
Income tax recovery (expense) (37,324) 78,291 (42,709) (283,617)
Net income (loss) and comprehensive income (loss) for the period 5,215,580 (1,962,457) 5,437,554 (356,571)
Earnings (loss) per common share for the period – basic 0.04 (0.01) 0.04 (0.00)
Earnings (loss) per common share for the period – diluted 0.04 (0.01) 0.04 (0.00)
Interim condensed consolidated statements of financial position highlights June 30, 2025 December 31, 2024
Cash and cash equivalents $ 5,199,600 $ 4,122,474
Due from brokers 1,886,015 416,907
Accounts receivable, net of expected credit losses 309,098 519,491
Investments, at fair value 36,198,498 32,912,428
Equity investment 1,762,480 1,782,628
Income tax receivable - 268,362
Right-of-use assets, net 903,141 992,417
Intangible Assets 2,766,333 2,826,438
Goodwill 624,290 624,290
Total assets 50,145,577 44,930,710
Accounts payable and accrued liabilities 1,041,746 1,697,947
Deferred revenue 3,800,468 3,452,044
Total promissory note 753,208 726,458
Total lease liabilities 962,764 1,031,645
Total liabilities 6,670,750 7,105,575
Share capital, contributed surplus, and warrants 52,787,281 52,575,143
Deficit (9,312,454) (14,750,008)
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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.
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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