Earnings Releases·Nov 3, 2026, 8:08 AM ET

Versant Media Group — Third Quarter 2026 Earnings Summary

Total revenue declined 4.2% year-over-year to $1,594 million, while Net Income fell 41.1% to $47 million and Adjusted EBITDA dropped 20.9% to $353 million; Platforms revenue grew 9.6% year-over-year to $245 million.
Full-year 2026 guidance remains unchanged for revenue ($6.2B–$6.45B) and Adjusted EBITDA ($1.90B–$2.05B), though Free Cash Flow expectations were raised to exceed the prior $1.0B–$1.2B range.
Capital return activity included a completed $100 million Accelerated Share Repurchase (ASR) in Q3 and a declared $0.375 per share dividend, with an additional $100 million ASR planned for Q4.
Strategic updates include the Q3 acquisition of Full Swing and Q2 divestiture of SportsEngine, alongside the launch of MS NOW Membership and a new digital offering scheduled for early next year.
Long-term debt increased to $2,813 million as of September 30, 2026, compared to $983 million at year-end 2025, driven by the separation from Comcast and associated costs.