Investors & Press

Stingray accelerates TuneIn integration well ahead of schedule, with revenue synergies surpassing
$42 million and cost optimizations of $12 million

Fourth Quarter Highlights

• Organic growth of 11.6% year-over-year in Broadcast and Recurring Commercial Music Revenues;
• Revenues increased 43.6% to $137.8 million in the fourth quarter of 2026 from $96.0 million in the fourth quarter of 2025;
• Adjusted EBITDA⁽¹⁾ improved 21.3% to $42.5 million in the fourth quarter of 2026 from $35.0 million in the fourth quarter of 2025. Adjusted EBITDA by segment⁽¹⁾ was $37.3 million or 34.2% of revenues for Broadcasting and Commercial Music, $7.0 million or 24.1% of revenues for Radio, and $(1.8) million for Corporate;
• Adjusted net income⁽¹⁾ amounted to $20.8 million, or $0.31 per diluted share⁽¹⁾ in the fourth quarter of 2026, compared to $18.6 million, or $0.27 per diluted share⁽¹⁾, in the same period of 2025;
• Net loss totaled $64.6 million, or $0.95 per diluted share⁽¹⁾ in the fourth quarter of 2026 compared to net income of $7.7 million, $0.11 per diluted share⁽¹⁾, in the same period last year;
• Cash flow from operating activities declined 11.3% to $35.2 million, or $0.52 per diluted share⁽¹⁾, in the fourth quarter of 2026 from $39.7 million, or $0.58 per diluted share⁽¹⁾, in the fourth quarter of 2025;
• Adjusted free cash flow⁽¹⁾ grew 9.1% to $20.1 million, or $0.30 per diluted share⁽¹⁾, in the fourth quarter of 2026 from $18.4 million, or $0.27 per diluted share⁽¹⁾, in the same period last year;
• Repurchased and cancelled 185,772 shares for a total of $2.8 million in the fourth quarter of 2026 compared to 275,000 shares for $2.3 million in the fourth quarter of 2025.

Stingray Delivers Strong Q3 Results; TuneIn Acquisition Enhances Synergy Outlook and Drives Automotive Expansion.

• Organic growth increased 8.5% year-over-year in Broadcast and Recurring Commercial Music Revenues;
• Revenues grew 15.4% to $124.8 million in the third quarter of 2026 from $108.2 million in the third quarter of 2025;
• Adjusted EBITDA⁽¹⁾ improved 5.7% to $44.5 million in the third quarter of 2026 from $42.1 million in the same period of 2025. Adjusted EBITDA by segment was $33.0 million or 37.5% of revenues for Broadcasting and
• Commercial Music, $13.2 million or 36.0% of revenues for Radio, and $(1.7) million for Corporate;
• Net income totaled $7.5 million, or $0.11 per diluted share⁽¹⁾, in the third quarter of 2026 compared to $15.7 million, or $0.23 per diluted share⁽¹⁾, in the third quarter of 2025;
• Adjusted Net income⁽¹⁾ amounted to $26.3 million, or $0.38 per diluted share⁽¹⁾, in the third quarter of 2026 compared to $23.4 million, or $0.34 per diluted share(1), in the same period of 2025;
• Cash flow from operating activities rose 7.4% to $38.0 million, or $0.55 per diluted share⁽¹⁾, in the third quarter of 2026 from $35.4 million, or $0.51 per diluted share(1), in the third quarter of 2025;
• Adjusted free cash flow⁽¹⁾ increased 21.5% to $34.8 million, or $0.50 per diluted share⁽¹⁾, in the third quarter of 2026 from $28.6 million, or $0.42 per diluted share⁽¹⁾, in the same period of 2025;
• Net debt to Pro Forma Adjusted EBITDA⁽¹⁾ ratio improved to 2.49x at the end of the third quarter of 2026 from 2.54x at the end of the third quarter of 2025;
• Repurchased and cancelled 303,700 shares for a total of $3.8 million in the third quarter of 2026; and
• TuneIn synergies reached an annualized run rate of US$16.0 million in revenues and US$5.0 million in cost savings.

Transformative TuneIn acquisition and strategic DMI deal to accelerate top growth vectors 

• Organic growth increased 16.7% year-over-year in Broadcast and Recurring Commercial Music Revenues;

• Revenues grew 21.0% to $113.3 million in the second quarter of 2026 from $93.6 million in the second quarter of 2025;

• Adjusted EBITDA improved 16.3% to $39.5 million in the second quarter of 2026 from $34.0 million in the same period in 2025. Adjusted EBITDA by segment was $31.2 million or 38.5% of revenues for Broadcasting and Commercial Music, $10.2 million or 31.5% of revenues for Radio, and $(1.9) million for Corporate;

• Net income rose 102.5% to $11.8 million, or $0.17 per diluted share, in the second quarter of 2026 from $5.8 million, or $0.08 per diluted share, in the second quarter of 2025;

• Adjusted Net income increased 30.8% to $21.9 million, or $0.32 per diluted share, in the second quarter of 2026 from $16.7 million, or $0.24 per diluted share, in the same period of 2025;

• Cash flow from operating activities grew to $24.3 million, or $0.35 per diluted share, in the second quarter of 2026 compared to $19.2 million, or $0.28 per diluted share, in the second quarter of 2025;

• Adjusted free cash flow improved to $28.4 million, or $0.41 per diluted share, in the second quarter of 2026 compared to $21.1 million, or $0.31 per diluted share, in the same period of 2025;

• Net debt to Pro Forma Adjusted EBITDA ratio decreased to 2.13x at the end of the second quarter of 2026 from 2.72x at the end of the second quarter of 2025;

• Repurchased and cancelled 311,500 shares for a total of $3.1 million in the second quarter of 2026;

• Quarterly dividend increased 13.33% to $0.085 per share; and

• On November 10, 2025, the Corporation secured an additional US$150 million term loan under its existing credit facility to finance the acquisition of TuneIn Holdings, Inc., and extended the facility’s maturity date by one year to November 2029.