Core Insights - Glacier Media Inc. reported a consolidated revenue of $137.5 million for the year ended December 31, 2025, reflecting a decrease of $4.4 million or 3.1% compared to 2024 [2][3] - The company's EBITDA for 2025 was $7.5 million, down $2.3 million from $9.7 million in the previous year, resulting in an EBITDA margin of 5.4% [2][3] - Net income attributable to common shareholders was $6.4 million, a significant recovery from a loss of $24.4 million in 2024 [2][3] Revenue Breakdown - The $4.4 million decrease in total revenue was primarily due to a $3.1 million decline in legacy print operations, which were largely sold or closed by the end of 2025 [4] - Core operations experienced a revenue decrease of $1.3 million, or 1.0% [4] - Advertising revenue fell by $9.2 million, or 14.4%, while Data and Subscription revenue increased by $6.6 million, or 12.0% [5][6] Expense Management - The decrease in EBITDA was largely driven by reduced revenue in core operations, although direct and general administrative expenses decreased by $2.2 million year over year [7] - Legacy print operations contributed to a reduction in expenses of $3.5 million due to their sale or closure [7] Financial Position - As of December 31, 2025, the company had a cash balance of $5.8 million and $6.4 million in non-recourse mortgages related to land for farm shows in Saskatchewan and Ontario [8]