Tiny (TINY) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $51.6 million (CAD 51.6 million), up 3% year-over-year, driven by the Serato acquisition and Dribbble revenue growth.

• Adjusted EBITDA for Q2 2026 was $10.6 million, with a 21% margin, reflecting strong cost management and portfolio efficiency.

• Recurring revenue rose 32% year-over-year to $17.4 million (ARR $69.6 million), now 34% of total revenue, driven by Serato.

• Letterboxd membership grew 185% since acquisition, surpassing 31 million members.

• Net loss was $83.0 million due to $80.7 million in non-cash impairments and restructuring costs.

Financial highlights

• LTM revenue was $208.7 million, up 9% from the prior period.

• Adjusted EBITDA LTM was $38.2 million, up from $35.3 million, with margin expanding from 18%-19%.

• Free cash flow for the last twelve months was $13.4 million ($0.46/share), but Q2 free cash flow was $0.6 million, down from $4.8 million in Q2 2025.

• Software and Apps revenue increased to $22.4 million, mainly due to Serato.

• Creative Platform revenue rose to $11.5 million, benefiting from a major Dribbble contract.

Outlook and guidance

• Management expects cost-saving measures and operational simplification to yield greater benefits in coming quarters.

• Focus remains on increasing recurring and subscription-based revenue for greater predictability.

• Ongoing efforts to reduce leverage, optimize capital structure, and evaluate asset monetization and new acquisitions.