Q1 Operational Highlights

Strong growth in Global Licensing with a 29% year-over-year increase, driven by our premium franchises Peanuts, Strawberry Shortcake and Teletubbies across multiple categories and territories.

Subsequent to the quarter, announced the renewal of multi-year partnership for Peanuts with Apple TV, extending through 2030 and reinforcing the long-term value of this iconic brand across premium content, global licensing and audience engagement initiatives.

Subsequent to the quarter, ceased operations of WildBrain Television in October, aligning with the Company’s strategy to focus resources on higher-margin brand, content and licensing opportunities across its global platform. Licenses were surrendered to the Canadian Radio-television and Telecommunications Commission and WildBrain is no longer subject to applicable Canadian control restrictions under the Broadcasting Act.

Q1 Financial Highlights1

Revenue including Canadian Television Broadcasting (“Television”) was $125.5 million, up 13% year over year. Revenue excluding Television was $120.8 million, up 16% year over year.

Net loss attributable to Shareholders of the Company including Television was $32.6 million, compared with net loss attributable to Shareholders of the Company of $10.6 million in Q1 2025. Net loss attributable to Shareholders of the Company excluding Television was $31.4 million, compared with net loss attributable to Shareholders of the Company of $15.1 million, in Q1 2025.

Adjusted EBITDA2 including Television was $20.9 million, up 37% year over year. Adjusted EBITDA excluding Television was $17.4 million, up 53% year over year.

Cash provided by operating activities was $14.1 million, compared to cash provided by operating activities of $25.8 million in Q1 2025.

Free Cash Flow3 was negative $10.7 million, compared to positive $4.8 million in Q1 2025.

Toronto, ON – WildBrain reported its first quarter (“Q1 2026”) results for the period ended September 30, 2025.

Josh Scherba, WildBrain President and CEO, said: “Our Global Licensing business continues to deliver strong growth, underscoring the enduring appeal of our core brands and the strength of our franchise strategy. We saw exceptional enthusiasm at Brand Licensing Europe in October for both Strawberry Shortcake and Teletubbies, as partners and retailers responded to the fresh creative direction and global momentum behind these properties. With sustained demand across categories and territories, our licensing pipeline remains robust.

“Outside of licensing, the renewed partnership with Apple TV for Peanuts through 2030 reinforces the long-term value of this iconic brand and extends the pipeline for new series and specials to delight fans worldwide. Our Audience Engagement team continues to play a critical role in building audiences for brands through omni-platform distribution, content sales and marketing, fueling awareness and demand that translate directly into franchise and licensing growth. We’re well positioned to drive further brand expansion and profitability through the balance of the year.”

Nick Gawne, WildBrain CFO, added: “As we continue to sharpen our focus on higher-growth areas of the business, the exit from our Television business represents an important strategic step aligned to changing consumer habits while also releasing us from ownership restrictions under Canadian broadcast regulation. This pivot allows us to redeploy resources toward initiatives that deliver stronger returns where we see the greatest potential for sustainable profitability. With a more streamlined cost structure and clearer focus, we’re positioning WildBrain for stronger financial performance and greater value creation over the long term.”

Fiscal Year 2026 Outlook

The Company reaffirms its previously announced outlook for Fiscal Year 2026. The Company ceased operations of its Television business in October 2025. To provide comparable results, the Company is providing its outlook both including and excluding Television.

In Fiscal Year 2026, for results including Television, we expect:

• Revenue of approximately $560 million to $590 million and
• Adjusted EBITDA of approximately $80 million to $85 million.

In Fiscal Year 2026, for results excluding Television, we expect:

• Revenue growth of approximately 15% to 20% and
• Adjusted EBITDA growth of approximately 15% to 20%.

Q1 2026 Financial Highlights including Television1

In Q1 2026, revenue increased 13% to $125.5 million, compared to $111.0 million in Q1 2025.

Global Licensing revenue increased 29% to $81.1 million in Q1 2026, compared to $62.9 million in Q1 2025. Revenue in the quarter was driven by strong growth in our owned brands, Peanuts, Strawberry Shortcake and Teletubbies, supplemented by third-party revenue growth from our global licensing agency, WildBrain CPLG.

Content Creation and Audience Engagement revenue decreased 3% to $39.8 million in Q1 2026, compared to $40.8 million in Q1 2025. Segment revenue reflected growth in production, offsetting softness in content distribution. We continue to see strong engagement across our AVOD and YouTube networks, highlighting the value of these audiences to partners, while our Media Solutions division has built a solid and growing pipeline of high-quality brand activations heading into the balance of the year.

Gross margin for Q1 2026 was 51%, compared to gross margin of 47% in Q1 2025. Gross margin for Q1 2026 was $63.5 million, an increase of $10.7 million, compared to $52.7 million for Q1 2025.

Cash provided by operating activities in Q1 2026 was $14.1 million, compared to $25.8 million in Q1 2025. Free Cash Flow was negative $10.7 million in Q1 2026, compared with positive $4.8 million in Q1 2025.

Adjusted EBITDA increased 37% to $20.9 million in Q1 2026, compared with $15.3 million in Q1 2025.

Q1 2026 net loss attributable to Shareholders of the Company was $32.6 million, compared to net loss attributable to Shareholders of the Company of $10.6 million in Q1 2025.

Leverage in Q1 2026 was 4.96x, comfortably within our financial covenants.

Q1 2026 Financial Highlights

1. In December 2024, the Company announced that it had signed a definitive agreement (the “Sale Agreement”) to sell 66 2/3% of its Canadian Television Broadcasting business (“Television”) and that in accordance with IFRS 5: Non-current Assets Held for Sale and Discontinued Operations, the results of Television were presented as discontinued operations during the second and third quarters of 2025.  In the Q3 financial statements, the Company disclosed that as a result of Bell’s decision to cancel the WildBrain television channels, the Company was renegotiating certain elements of the Sale Agreement. As of June 30, 2025, the Company determined that the sale of Television no longer met the threshold set out in IFRS 5 of being highly probable and as a result, reinstated the Television segment into held-for-use.  In August 2025, the Company announced that it would be ceasing operation of Television later in the year. Until the cessation occurs, Television will be reported in net income from operations. In Q2 2026, Television will return to discontinued operations. The Company is presenting its results isolating Television from its continuing businesses to provide a consistent and clear view of both the Company’s core continuing operations and total operations in the applicable periods.

2. Free Cash Flow, Gross Margin, Adjusted EBITDA and Adjusted EBITDA attributable to WildBrain are non-GAAP financial measures – see below for further details.

3. Free Cash Flow includes discontinued operations.