Earthlabs Reports Results For The First Quarter Of 2026

2026-05-28 08:07:58

(MENAFN- Newsfile Corp) EarthLabs Reports Results for the First Quarter of 2026

May 28, 2026 8:00 AM EDT | Source: EarthLabs Inc.

Toronto, Ontario--(Newsfile Corp. - May 28, 2026) - EarthLabs Inc. TSXV: SPOT) (OTCQX: SPOFF) (FSE: 8EK0 ) (" EarthLabs " or the " Company ") is pleased to announce the consolidated financial results as at and for the three months ended March 31, 2026 of the Company (the " Financial Results ").

Highlights for the three-month period ended March 31, 2026:

Completed the quarter with total cash and cash equivalents, due from brokers, investments and equity investments of $78,752,220 as compared to $80,200,152 as at December 31, 2025; 67.3% increase in Advertising revenue to $2,663,695 as compared to $1,592,565 for the three months ended March 31, 2025; 12.6% increase in Subscription revenue to $350,322 as compared to $311,092 for the three months ended March 31, 2025; 61.1% increase in Sales of exploration maps to $67,527 as compared to $41,928 for the three months ended March 31, 2025; Net investment gains of $564,169 from the Company's investment portfolio as compared to $2,022,093 for the three months ended March 31, 2025, marking the fifth consecutive quarter in which the Company reported net investment gains; Net loss and comprehensive loss of $114,044 (basic loss per share of $0.00) as compared to net income and comprehensive income of $221,974 (basic earnings per share of $0.00) for the three months ended March 31, 2025.

"With commodity prices remaining near record highs, we believe the long-term opportunity across the resource sector is as strong as we've seen in a generation," said Denis Laviolette, Executive Chairman and CEO of EarthLabs. "While parts of the junior mining market slowed in early 2026, EarthLabs kept building. We expanded our media reach, grew key subsidiary divisions, and continued to strengthen our position across mining media, data, and investments. Advertising revenue climbed 67% year-over-year, demonstrating the resilience and value of our platform even in a softer financing environment. We remain highly convicted in both our investment portfolio and the broader commodity cycle, and believe EarthLabs is exceptionally positioned as capital and investor attention continue to return to hard assets."

Summary of financial results

The following are selected consolidated financial results as at and for the three months ended March 31, 2026, with comparatives:

Interim condensed consolidated statements of income (loss) and comprehensive income (loss) highlights		Three months ended March 31,
		2026			2025
Advertising revenue	$	2,663,695		$	1,592,565
Subscription revenue		350,322			311,092
Sales of exploration maps		67,527			41,928
Net investment gains		564,169			2,022,093
Other income		174,883			400,673
Operating, general and administrative		(3,283,025	)		(3,235,765	)
Research and development expenses		(500,000	)		(859,261	)
Total expenses		(3,804,230	)		(4,126,764	)
Loss from equity investment		(111,015	)		(14,228	)
Income tax expense		(19,395	)		(5,385	)
Net income (loss) and comprehensive income (loss) for the period		(114,044	)		221,974
Earnings (loss) per common share for the period - basic and diluted		0.00			0.00

Interim condensed consolidated statements of financial position highlights		March 31, 2026		December 31, 2025
Cash and cash equivalents	$	2,325,729	$	3,516,515
Due from brokers		6,408,205		861,833
Accounts receivable, net of expected credit losses		371,470		305,458
Investments, at fair value		68,099,605		73,792,108
Equity investment		1,918,681		2,029,696
Sales tax recoverable		191,817		54,326
Right-of-use assets, net		769,227		813,865
Intangible assets		2,679,227		2,708,333
Goodwill		624,290		624,290
Total assets		84,096,892		85,465,211
Accounts payable and accrued liabilities		1,054,834		2,663,928
Deferred revenue		6,458,010		6,488,475
Total lease liabilities		850,623		889,552
Deferred tax liabilities		3,137,440		3,207,821
Total liabilities		11,692,571		13,410,824
Share capital, contributed surplus, and warrants		53,282,070		52,818,092
Retained earnings		19,122,251		19,236,295

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, The Northern Miner, MINING, Canadian Mining Journal and DigiGeoData.

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