Business
Canlan Reports Q2 Revenue Growth and Expansion of Game Deck(TM)
Burnaby, British Columbia--(Newsfile Corp. - August 13, 2025) - Canlan Ice Sports Corp. (TSX...
About this update from Canlan Ice Sports Corp.
[{"type":"text","content":"Canlan Reports Q2 Revenue Growth and Expansion of Game Deck(TM)Burnaby, British Columbia--(Newsfile Corp. - August 13, 2025) - Canlan Ice Sports Corp. (TSX: ICE) (the \"Corporation\") today reported its financial results for the second quarter ended June 30, 2025.Overview of Q2 2025Total operating revenue of $23.5 million increased by $1.6 million or 7.5% compared to Q2 2024;Operating earnings of $2.0 million increased by $0.4 million or 23.3% compared to a year ago; andIn April 2025, Canlan Sports York opened its expanded Game DeckTM that now incorporates 16 arcade and redemption games in addition to the sports simulator bays that were completed in 2024. In addition to this Game Deck expansion, various other major renovation and maintenance projects commenced during the quarter designed to improve facility operations and customer experience.Three Months and Six Months Ended June 30, 2025 ResultsFor the 3 months ended June 30For the 6 months ended June 30(in thousands)202520242025 2024Ice rink & recreational facilities revenue$23,495$21,848$51,474$48,034Operating expense 18,93517,55635,93733,8924,5604,29215,53714,142G&A expense2,5782,6845,0654,904Operating earnings1$1,982$1,608$10,472$9,238Operating earnings per share$0.15$0.12$0.79$0.69Depreciation1,9551,8783,9263,736Interest6256071,2181,242Interest rate swap (gain) loss(193)21298(302)Foreign exchange (gain) loss9(2)12(4)Income tax expense (recovery)(236)911,1951,506Net earnings (loss) ($178)($1,178)$4,023$3,060Net earnings (loss) per share($0.01)($0.09)$0.30$0.23 Key Balance Sheet Figures (in thousands) June 30, 2025December 31, 2024AssetsCash and cash equivalents$19,896$21,677Property plant and equipment94,93797,679Other assets10,84311,146Total assets$125,676$130,502Liabilities and Equity  Debt$41,191$40,995Lease liabilities8,6727,478Accounts payable and accrued liabilities19,45115,249Deferred revenue10,00314,455Other liabilities2,9213,507Total liabilities82,23881,684Share capital and contributed surplus  63,652   63,652  Foreign currency translation reserve3,8605,794Deficit(24,074)(20,628)Total shareholders' equity43,43848,818Total liabilities and equity$125,676$130,502 Second Quarter Results (three months ended June 30, 2025 compared with three months ended June 30, 2024)Total operating revenue of...