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Aimia reports third quarter 2026 results
AIMIA INC.
(Incorporated in Canada)
(Corporation number: 1563505-5)
TSX share code: AIM JSE share code: AII AIM share code: AII
ISIN: CA00900Q1037
LEI: 5299005QK3KSTUZ66Y90
AIMIA REPORTS THIRD QUARTER 2026 RESULTS
Toronto, November 6, 2026 - Aimia Inc. (TSX: AIM; JSE: AII; AIM: AII) ("Aimia" or the "Company") today reported its unaudited
financial results for the three and nine months ended September 30, 2026. All amounts are in Canadian currency unless otherwise
noted.
SENIOR LEADERSHIP COMMENTARY
"Our efforts to enhance Aimia's intrinsic value delivered encouraging results in Q3," said Rhys Summerton, Aimia's Executive
Chairman. "During the quarter, we deployed more than $15 million into new investments and generated a fair value gain of $1.9
million. We also benefitted from management changes implemented at Cortland as reflected by its improved financial performance,
and we qualified for admission to the AIM Market of the London Stock Exchange. While Aimia's transformation is still in its early
stages, the progress made in Q3 provides a solid foundation for sustainable long-term value creation for our shareholders."
"We experienced improvements to several key financial metrics in the third quarter, including revenue and gross profit, compared
to last year," said Steven Leonard, Aimia's President and CFO. "Our financial results for Q3 2026 were negatively impacted,
however, by a number of developments, including one-time SG&A expenses related to corporate strategic initiatives and an
unrealized net fair value loss related to our investment in Clear Media. Our focus in the near term is to sustain Cortland's recent
momentum, reduce HoldCo costs, and strategically deploy capital consistent with our strategy to enhance shareholder value."
AIMIA’S Q3 2026 HIGHLIGHTS
- Invested $15.5 million in public companies consistent with the Company's strategy to enhance shareholder value.
- Reported equity attributable to common shareholders per share(1) of $3.55, up from $3.28 per share in Q3 2025.
- Qualified for admission to the AIM Market of the London Stock Exchange and began trading under the ticker "AII" on October
1, 2026.
- Reported revenue from continuing operations of $45.6 million, up 21.3% from $37.6 million generated in Q3 2025. The growth
was driven by pricing surcharges and improving sales volumes in some of Cortland's key customer segments.
- Generated Adjusted EBITDA from continuing operations of $3.2 million, down from $3.5 million reported in Q3 2025. The
decline was primarily driven by one-time legal and professional services fees related to strategic initiatives and multi-listing
activities.
- Reported a consolidated net loss of $14.3 million, down from net earnings of $3.0 million in Q3 2025, which included $6.2
million of earnings contributed by Bozzetto in the prior period. The year-over-year decline was also attributable to a $8.3 million
unrealized fair value loss on the Company's investment in Clear Media and by net financial expenses, including $4.8 million
of deferred financing costs associated with the redemption of the 9.75% Senior Unsecured Notes.
- Reported a consolidated loss per common share of $0.17 compared to earnings per share of $0.02 in Q3 2025.
- Repurchased 278,900 common shares for cancellation for a total consideration of $0.7 million.
(1) Equity attributable to common shareholders per share is a non-GAAP measure.
CONSOLIDATED FINANCIAL HIGHLIGHTS
Aimia 3-Months Ended September 30 9-Months Ended September 30
(in $millions except for margin
and per share data) 2026 2025 Change 2026 2025 Change
Continuing operations
Revenue 45.6 37.6 21.3% 114.7 116.1 (1.2)%
Gross Profit 10.4 8.3 25.3% 27.0 26.8 0.7%
Gross Margin 22.8% 22.1% 0.7pp 23.5% 23.1% 0.4pp
Selling, general and
administrative expenses (11.3) (9.3) (21.5%) (31.1) (31.6) 1.6%
Operating Income (loss) (0.9) (1.0) 10.0% (4.1) (4.8) 14.6%
Adjusted EBITDA(2) 3.2 3.5 (8.6)% 8.0 9.0 (11.1)%
Consolidated (unless
otherwise noted)
Net earnings (loss) (14.3) 3.0 NM 22.8 (2.7) NM
Earnings (loss) per share (0.17) 0.02 NM 0.21 0.50 (58.0)%
Earnings (loss) per share -
Continuing operations (0.17) (0.04) NM (0.20) 0.33 (160.6)%
Earnings (loss) per share -
Discontinued operations — 0.06 NM 0.41 0.17 141.2%
Headline earnings per
share(3) (0.17) 0.02 NM (0.03) 0.47 (106.4%)
This press release should be read in conjunction with Aimia’s consolidated financial statements and management's discussion and
analysis (MD&A) for the three-month and nine-month periods ended September 30, 2026, set below and which can also be
accessed from SEDAR+ and www.aimia.com. This announcement is the responsibility of the directors of Aimia and is only a
summary of the information contained in the Q3 2026 results and does not contain full or complete details. Any investment decision
by investors and/or shareholders should be based on a consideration of, inter alia, the Q3 2026 results. The Q3 2026 results are
available on the JSE website at: https://senspdf.jse.co.za/documents/2026/JSE/isse/aiie/Q32026.pdf. The Q2 2026 results and the
Company’s earnings release can be accessed from SEDAR+ and www.aimia.com.
Headline earnings per common share
The Company’s shares are also listed on the JSE, which requires the Corporation to present headline and diluted headline earnings
(loss) per share. Headline earnings (loss) per share is calculated by dividing headline earnings (loss) attributable to equity holders
of the Company by the weighted average number of common shares issued and outstanding during the period. The following table
summarizes the adjustments to earnings (loss) attributable to equity holders of the Corporation for the purpose of calculating
headline earnings (loss) attributable to the equity holders of the Company, and the headline earnings (loss) and diluted headline
earnings (loss) per share. Adjusted amounts represented under the "Gross" column are pre-tax, whereas adjusted amounts under
the "Net" column are net of tax. This announcement is the responsibility of the directors of Aimia and is only a summary of the
information contained in the Q3 2026 results and does not contain full or complete details. Any investment decision by investors
and/or shareholders should be based on a consideration of, inter alia, the Q3 2026 results. The Q3 2026 results are available on
the JSE website at: https://senspdf.jse.co.za/documents/2026/JSE/isse/aiie/Q32026.pdf. The Q2 2026 results and the Company’s
earnings release can be accessed from SEDAR+ and www.aimia.com.
(2) Adjusted EBITDA is a non-GAAP measure.
(3) Headline Earnings Per Share is a JSE mandated financial metric that measures core operating profitability by adjusting
earnings for certain specified re-measurements in accordance with the Headline Earnings Circular 1/2023 issued by the South
African Institute of Chartered Accountants (SAICA).
Three Months Ended Nine Months Ended
September 30, September 30,
2026 2025 2026 2025
Gross Net Gross Net Gross Net Gross Net
Earnings (loss) attributable to equity holders of
the Corporation (14.3) 2.2 20.9 (5.3)
Deduct: Dividends declared on preferred shares
related to the period (0.7) (0.7) (2.1) (2.1)
Add: Excess of preferred shares' assigned value
over consideration exchanged for repurchase — — — 53.8
Earnings (loss) attributable to common
shareholders (15.0) 1.5 18.8 46.4
Headline earnings adjustments:
(Gain) on disposal of business (including
reclassification to net earnings of CTA) — — — — (21.7) (21.7) — —
Reclassification to net earnings of cumulative
translation adjustments — — — — — — (2.2) (2.2)
Headline earnings (loss) attributable to
common shareholders (15.0) 1.5 (2.9) 44.2
Weighted average number of common
shares - Basic and diluted 88,208,268 91,059,155 88,718,858 93,178,943
Headline earnings (loss) per common share $(0.17) $0.02 $(0.03) $0.47
Diluted headline earnings (loss) per common
share $(0.17) $0.02 $(0.03) $0.47
Quarterly Conference Call and Audio Webcast Information
Aimia will host a conference call to discuss its third-quarter 2026 financial results at 8:30 a.m. ET on November 6. The call will be
webcast at https://app.webinar.net/ZMmekrwJYv5 . Interested parties can listen to the conference call by dialing 1 888 699 1199
or 1 416 945 7677 (internationally). A slide presentation intended for simultaneous viewing with the conference call and an archived
audio webcast will be available for 90 days following the original broadcast at: https://www.aimia.com/investor-relations/events-
presentations/.
About Aimia
Aimia Inc. (TSX: AIM; JSE: AII; AIM: AII) is a diversified conglomerate focused on enhancing the value of its holdings.
Headquartered in Toronto, Aimia’s priorities include increasing its intrinsic value, reducing holding company costs, reducing the
discount of its share price to the intrinsic value of its businesses, and redeploying capital to make investments in undervalued
companies. For more information about Aimia, visit www.aimia.com.
For more information, please contact:
Joe Racanelli, Vice President, Investor Relations
647 970 2200
Joseph.Racanelli@aimia.com
Aimia has a primary listing on Toronto Stock Exchange and a secondary listing on the Main Board of the JSE. The Company is
also quoted on the AIM Market of the London Stock Exchange.
November 6, 2026
JSE sponsor
Java Capital
Date: 06/11/2026 08:59:01
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