Aimia reported a third-quarter loss of C$0.17 per share, wider than the C$0.05 loss analysts expected. An unrealized investment loss and one-time costs weighed on results.
Aimia Inc. (TSX: AIM) reported results for the three months ended September 30, 2026. Continuing-operations revenue and gross profit rose from a year earlier, but an C$8.3-million unrealized loss on its Clear Media investment, along with financing and strategic-initiative costs, contributed to a C$14.3-million consolidated net loss. For Canadian investors, the results show a contrast between improving performance at Cortland and volatility in Aimia’s investments and corporate costs.
Recent earnings trend
Aimia Inc
AIM.TO
AIM.TO
Aimia Inc
WealthAwesomeMarket cap
$229.13M
52W high
$3.44
52W low
$2.48
1W change
+1.96%
Beta
0.17
Analyst Price Targets
Based on analyst covering AIM · as of Sep 17, 2026
Wall Street analysts forecast AIM stock price to rise 44.2% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$3.75
+44.2% Upside
Current Price
C$2.60
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on AIM's historical volatility
30-Day Vol
16.1%
Annualized
90-Day Vol
24.3%
Annualized
Trend (90d)
-20.5%
Annualized drift
90d Mean
C$2.42
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$2.54 | C$2.40 – C$2.68 |
| 60 trading days | C$2.48 | C$2.29 – C$2.68 |
| 90 trading days | C$2.42 | C$2.19 – C$2.66 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-24 | — | -0.0600 | — |
| 2026-09-30 | 2026-11-06 | -0.1700 | -0.0500 | -240.0% |
| 2026-06-30 | 2026-08-11 | 0.3600 | 0.0500 | +620.0% |
| 2026-03-31 | 2026-05-13 | 0.0200 | 0.0600 | -66.7% |
| 2025-12-31 | 2026-03-24 | -0.1300 | 0.0200 | -750.0% |
| 2025-09-30 | 2025-11-12 | -0.0011 | 0.0400 | -102.8% |
Investor takeaway: Aimia’s Q3 results were mixed. Continuing-operations revenue rose 21.3% to C$45.6 million, and gross margin increased to 22.8% from 22.1%. But Adjusted EBITDA fell 8.6% to C$3.2 million, and the company recorded a C$14.3-million net loss. The EPS miss reflects more than operating performance: management cited an unrealized Clear Media loss, one-time legal and professional fees, and C$4.8 million in deferred financing costs related to redeeming its 9.75% senior notes. Aimia ended September with C$152.5 million in cash and C$28.7 million in marketable securities, after paying C$131.4 million toward the notes. Investors will be watching to see whether Cortland can maintain its momentum while Aimia manages corporate costs and puts its capital to work.
C$45.6 million
Continuing-operations revenue rose 21.3% year over year to C$45.6 million. Adjusted EBITDA, however, fell to C$3.2 million from C$3.5 million. Higher revenue did not prevent a C$14.3-million consolidated loss, as investment valuation changes and corporate costs weighed on results.
Bull case
Continuing-operations revenue rose 21.3% year over year. Aimia attributed the increase to pricing surcharges and better sales volumes in some of Cortland’s key customer segments. Gross profit climbed 25.3% to C$10.4 million, and gross margin increased by 0.7 percentage points. Equity attributable to common shareholders was C$3.55 per share, up from C$3.28 a year earlier. Aimia also invested C$15.5 million in public companies. Management said Cortland performed better following recent changes, and Aimia’s admission to London’s AIM Market gives it another listing venue.
Bear case
Aimia reported a loss of C$0.17 per share, compared with the expected loss of C$0.05. Consolidated results swung from C$3.0 million in earnings a year earlier to a C$14.3-million loss. Adjusted EBITDA fell despite higher revenue, while selling, general and administrative expenses rose 21.5% to C$11.3 million. Cash also dropped sharply during the quarter, mainly because Aimia redeemed its senior notes. Investment valuation changes and costs tied to its corporate strategy continue to make reported earnings volatile.
Analysis
Aimia lost C$0.17 per share in the quarter ended September 30, compared with an estimated loss of C$0.05. That was a 240% negative surprise against the calendar estimate. The company reported a C$14.3-million consolidated net loss, compared with net earnings of C$3.0 million in Q3 2025. The prior-year quarter included C$6.2 million in earnings from Bozzetto, which was not part of this year’s results.
Aimia said Q3 results were affected by an C$8.3-million unrealized fair-value loss on its Clear Media investment, one-time legal and professional fees related to strategic initiatives and multiple listings, and net financial expenses. Those expenses included C$4.8 million in deferred financing costs tied to redeeming its 9.75% senior unsecured notes. Continuing-operations EPS was negative C$0.17, compared with negative C$0.04 a year earlier.
Aimia beat estimates in one of its last four comparable quarters, based on the earnings history provided. The recent-earnings trend table shows the figures for each quarter.
Analysis
Some parts of the operating business improved. Continuing-operations revenue rose to C$45.6 million from C$37.6 million, and gross profit increased to C$10.4 million from C$8.3 million. Gross margin grew to 22.8% from 22.1%. Management linked revenue growth to pricing surcharges and better sales volumes in some of Cortland’s key customer segments. It also said recent management changes at Cortland had improved performance.
That growth did not lift Adjusted EBITDA, which fell to C$3.2 million from C$3.5 million. Aimia pointed to one-time legal and professional fees. Selling, general and administrative expenses rose to C$11.3 million from C$9.3 million. For the first nine months of 2026, continuing-operations revenue was C$114.7 million, down 1.2% year over year, and Adjusted EBITDA was C$8.0 million, down 11.1%.
At September 30, Aimia had C$152.5 million in cash and cash equivalents, including C$145.5 million in the Holdings segment, as well as C$28.7 million in marketable securities. Cash stood at C$294.5 million at the end of June. The largest stated reason for the decline was the C$131.4 million paid toward redeeming the senior notes. Aimia also repurchased 278,900 shares for C$0.7 million during the quarter. See the Aimia stock page for company details.
Analysis
The analyst-target data provided shows an average target of C$3.75, compared with a last close of C$2.60. That implies 44.2% upside to the average target. The data labels the consensus bullish based on the target comparison, but a formal rating is unavailable for Canadian listings. See analyst targets for AIM. The target is not a guarantee, especially given Aimia’s volatile earnings and investment valuations.
Wealth Awesome’s statistical 90-day model puts the average forecast at C$2.42, below the C$2.60 reference price. Its 68% range is C$2.19 to C$2.66, and its 95% range is C$1.99 to C$2.93. The model estimates annualized drift of negative 20.5% and 30-day volatility of 16.1%. These are model estimates, not analyst targets or investment advice. See the AIM price forecast for details.
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