Early programmatic scale and international expansion drove nearly 40% of Q3 gross revenue mix, while maintaining strong 59% consolidated gross revenues1.
Strong customer diversification with a 54% increase in branded logos in Q3; recurring revenue remained high at 85% for the nine-month period.
Sabio thanks Paula Madison, departing Board member, for her four years of service to Sabio.
Conference call to be held on November 25, 2025 at 10 a.m. ET /7 a.m. PT.
TORONTO, Nov. 24, 2025 /PRNewswire/ -- Sabio Holdings Inc. (TSXV:SBIO) (OTCQB:SABOF) ("Sabio" or the "Company"), a Los Angeles–based ad-tech company specializing in helping global brands reach, engage, and validate (R.E.V.) streaming TV audiences, today announced its unaudited financial results for the third quarter ended September 30, 2025. Unless otherwise indicated, all amounts are expressed in U.S. dollars.
"Q3 reflected a non-political year, with advertiser budgets shifting into earlier quarters ahead of anticipated tariff impacts," said Aziz Rahimtoola, CEO & Co-Founder of Sabio. "What stands out is the performance of our underlying branded business. Excluding political and advocacy, our core ad-supported streaming category grew 2% year-over-year, supported by strong demand, expanding customer relationships, and the scaling of programmatic and international channels. Nearly 40% of our consolidated sales mix now comes from areas we invested in strategically over the past year."
Rahimtoola added: "With 54% growth in branded logos, 240% international revenue growth, and programmatic reaching 20% of Q3 gross revenue, Sabio is diversifying and strengthening its year-round revenue base. As we look ahead, 2026 represents a meaningful opportunity with the return of U.S. mid-term elections, which historically bring substantial activity across streaming TV and mobile video. Combined with the structural expansion of our branded business, we believe we are entering the year with a stronger foundation than ever before."
Financial Highlights
Q3 gross revenue of $9.3 million and net revenue of $8.2 million, reflecting the expected revenue pattern in a non-political year, with normalized gross revenue* down 11% after removing political and advocacy activity.
Core ad-supported streaming gross revenue increased 2% year-over-year when excluding political and advocacy activity, demonstrating continued strength in Sabio's branded business.
Ad-supported streaming remained 76% of the sales mix, consistent with 77% in the prior-year period.
Programmatic gross revenue reached $1.9 million, representing 20% of consolidated gross revenue, showing strong early adoption and rapid scaling.
International gross revenue grew 240% year-over-year, contributing 19% of consolidated gross revenue, highlighting the success of Sabio's international expansion.
Mobile advertising gross revenue was $2.1 million, reflecting expected pacing in a non-political year and earlier budget shifts in select verticals.
54% growth in branded logos in Q3, increasing customer diversification.
Nearly 70% of top 2024 customers increased their spend year-to-date in 2025, underscoring deepening client relationships.
Normalized for political and advocacy, year-to-date consolidated gross sales* remain up 10% versus 2024, highlighting continued strength in the underlying business.
Recurring revenue remained strong at 85% for the nine-month period ended September 30, 2025.
Gross margin was 59%, influenced by the growing contribution of scalable programmatic channels.
Adjusted EBITDA2 was ($2.2 million), reflecting the shift in revenue mix in a non-political year and ongoing investment in programmatic, Creator TV, and international growth initiatives.
1 This is a non-IFRS financial measure. Refer to the Use of Non-IFRS Financial Measures section of this news release for more information on each non-IFRS financial measure.
2 This is a non-IFRS financial measure. Refer to the Use of Non-IFRS Financial Measures section of this news release for more information on each non-IFRS financial measure.
Business HighlightsCreator Television® (Creator TV)
Expanded distribution through the launch of AVOD offerings on Plex and Xumo Play, increasing reach across desktop, mobile, and connected TV.
Announced the Creator Poker Championship in partnership with the World Poker Tour®, airing December 18 across Creator TV and WPT platforms.
Secured a development partnership with MADCOOL Media, adding original scripted and unscripted series to the production pipeline.
Programmatic and Performance Marketing
Programmatic revenue represented 20% of consolidated gross revenue.
Averaged 57% month-over-month revenue growth in the nine months ended September 30, 2025.
Continued adoption of mobile performance marketing and non-OTT mobile video solutions.
App Science™
App Science™ database expanded to 80 million U.S. households, representing ~70% of U.S. streaming households (based on 115 million U.S. CTV Households, per Emarketer).
Maintained strong utilization across brand studies, insights packages, and R.E.V. audience validation.
International Expansion
UK operations delivered 240% year-over-year revenue growth.
International markets represented 19% of total Q3 gross revenue, up from 3% in Q3 2024.
Customer Metrics
54% growth in branded logos in the quarter across diverse verticals.
Nearly 70% of major 2024 customers increased spend in 2025 year-to-date.
Capital Markets
Closed a CAD $1.28 million LIFE financing on November 12, 2025, issuing freely tradable shares.
Completed a non-brokered debenture financing to retire CAD $1.7 million of secured and unsecured convertible notes, simplifying the balance sheet and increasing alignment with leadership participation.
Positioned for 2026The Company enters 2026 with expanding programmatic demand, deeper international traction, and strong customer diversification ahead of the upcoming U.S. mid-term election cycle, which historically increases spending across streaming TV and mobile video.
Management OutlookSabio enters the fourth quarter with expanding demand across programmatic CTV/OTT, mobile video, Creator TV, and international markets. With the Company's investments in scalable revenue channels now contributing meaningfully to results, Sabio is structurally better positioned for 2026 than at any point in its history. The Company's Q1 2026 pipeline is currently up close to 60% year-over-year. As a reminder, Sabio delivered a strong Q1 this year as well, growing 43% over Q1 2024.
2026 marks the next U.S. mid-term election cycle, which historically drives significant political and advocacy spending across streaming TV and mobile video. Combined with Sabio's stronger branded revenue base, expanded international presence, and accelerated programmatic adoption, the Company is entering the year with a more diversified and scalable foundation.
While Q3 reflects the natural pacing of a non-political year and broader industry budget timing shifts, Sabio's enhanced revenue mix, high recurring customer base, and strengthened technology stack position the Company for improved performance in 2026 and long-term growth.
Departure of Board MemberThe Company also announces the departure of Paula Madison from the Board effective November 24, 2025. As a director since Sabio's public listing in November 2021, Madison has provided dedicated service and valuable contributions to the Board and management team. The Company thanks her for her commitment to Sabio, its people and its vision and wishes her much success in her future personal and professional endeavors.
Notice of Conference CallSabio will host a live webinar to discuss its Q3 2025 financial results and provide a business update.
Date & Time: November 25, 2025 at 10 a.m. ET / 7 a.m. PTEvent: Presentation and Q&A Webinar with Sabio HoldingsHost: Aziz Rahimtoola, CEO, and members of the senior management teamWebcast Registration Link: https://us02web.zoom.us/webinar/register/4717634960279/WN_l_mNwa81Qbi1Vq_f60rv0Q
A replay of the webcast will be available in the Financial Information section of Sabio's website following the event.
Selected Financials(All figures in US$ unless otherwise noted)
For the three months ended
