The raised full-year guidance is the key positive signal, suggesting management expects improving trends in H2. However, the YoY declines in revenue, net income, and EBITDA are real headwinds. Monitor the Q3 earnings call for updates on subscriber trends and advertising recovery, which will determine if the guidance raise is achievable.
Price Chart
Executive Summary
Versant Media reported Q2 2026 revenue of $1.644B (down 3.8% YoY, but beat consensus of $1.62B) and diluted EPS of $1.49 (beat consensus of $1.42 by 5.2%). Net income fell 30.1% YoY to $211M and Adjusted EBITDA declined 8.9% to $624M, but the company raised its full-year 2026 revenue and Adjusted EBITDA guidance, signaling confidence in the second half. The stock will likely trade on the guidance raise offsetting the YoY declines in the quarter.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $1.644B, down 3.8% YoY but above $1.62B consensus
- Diluted EPS of $1.49 beat consensus of $1.42 by 5.2%
- Net income attributable to Versant fell 30.1% YoY to $211M
- Adjusted EBITDA of $624M declined 8.9% YoY
- Raised full-year 2026 revenue outlook to $6.2B-$6.45B and Adjusted EBITDA to $1.9B-$2.05B
- Declared third quarterly cash dividend of $0.375 per share
- Completed $100M ASR in Q2 and announced another planned $100M ASR in Q3
- Platforms revenue (ex-SportsEngine) grew 9.3% YoY
Financial Impact
Revenue beat consensus by $24M (1.5%), EPS beat by $0.07 (5.2%). Guidance raise for full-year revenue and EBITDA is the primary catalyst.
Risk Factors
- Continued linear distribution revenue decline of 6.3% YoY due to cord-cutting
- Advertising revenue still down 0.6% YoY despite improving trends
- Net income down 30.1% YoY due to lower revenue, public company costs, and interest expense
- High debt load of $2.84B in long-term debt
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002067876-26-000038 |
| Exhibit: exhibit992-supplementalf.htm | 0002067876-26-000038 |
| Document: vsnt-20260806.htm | 0002067876-26-000038 |
| Document: 0002067876-26-000038-index-headers.html | 0002067876-26-000038 |
| Document: 0002067876-26-000038-index.html | 0002067876-26-000038 |
| Document: 0002067876-26-000038.txt | 0002067876-26-000038 |
| 8-K Data (Synthetic) | 0002067876-26-000038 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 11w ago | 8-K | $38.22 | awaiting T+60 | — | $30.85 (−19.28%) |
Jul 6, 2026 16w ago | 8-K | $37.22 $32.17 | ▼ −13.57% | ▼ −15.29% | $30.85 (−17.11%) |
Jun 13, 2026 19w ago | Institutional Cluster | $38.94 $37.21 | ▼ −4.44% | ▼ −5.45% | $30.85 (−20.78%) |
Jun 11, 2026 19w ago | DEFA14A | $40.53 $38.25 | ▼ −5.63% | ▼ −8.89% | $30.85 (−23.88%) |
May 14, 2026 23w ago | 8-K | $44.43 $36.76 | ▼ −17.26% | ▼ −20.85% | $30.85 (−30.56%) |
Apr 23, 2026 26w ago | DEFA14A | $38.74 $36.15 | ▼ −6.69% | ▼ −11.77% | $30.85 (−20.37%) |
US Market Status
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