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Ionik Reports Q2 2026 Financial Results
- INIK.V
- INIKF
Adjusted EBITDA of $8.4 million
June refinancing completed; debt maturities extended
(All figures in US dollars, unless otherwise indicated)
Toronto, Ontario–(Newsfile Corp. – August 28, 2026) – Ionik Corporation (TSXV: INIK) (OTCQB: INIKF) (the “Company”or “Ionik”), a data and technology-driven marketing platform, today announced financial results for the three months ended June 30, 2026 (“Q2 2026“), highlighted by a successful completion of its comprehensive debt reorganization and refinancing, strong Adjusted EBITDA and continued progress on platform integration.
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Revenue of $47.4 million, down 8% from $51.7 million in the same period of the prior year (“Q2 2025″). Growth in Media Activation, supported by new sales staff and key accounts, was more than offset by lower Marketing Optimization revenue, primarily from one customer.
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Gross profit of $18.2 million, representing a 38% margin, compared to $20.9 million and a 40% margin in Q2 2025. The decline primarily reflected lower revenue and related gross profit from the same Marketing Optimization customer.
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Net income from continuing operations was $14.9 million, or $0.04 per basic share and $0.03 per diluted share, compared with a net loss of $2.4 million, or $0.01 per basic and diluted share, in Q2 2025. The result included non-cash gains of $12.4 million on the fair value of financial liabilities and $8.8 million on extinguishment of loans and debentures.
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Adjusted EBITDA1 of $8.4 million, compared to $9.5 million in Q2 2025. Lower customer revenue and gross profit were partly offset by reduced operating costs in Marketing Optimization and corporate functions associated with integration.
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Adjusted Free Cash Flow1 of $6.8 million representing a 81% Adjusted Free Cash Flow conversion rate1, compared to $7.6 million and a 79%in Q2 2025.
1Please refer to “Non-IFRS Measures” section of this press release
Debt Reorganization and Financial Position
The $100 million credit package closed in June 2026 comprised an $80 million senior term facility, a $10 million revolving facility and a $10 million subordinated facility. The financing replaced the previous syndicated facility and funded acquisition-related cash settlements, transaction costs and working capital.
At June 30, 2026, total undiscounted debt was $124.8 million, compared with $111.4 million at March 31, 2026. The June balance comprised $80.0 million under the senior term facility, $9.0 million drawn on the revolver, $10.0 million of subordinated debt, $19.3 million of convertible debt and a $6.5 million promissory note.
