Broadcast and Commercial Music Revenues Soar with 17.1% Organic Growth YoY

• Revenues increased 12.8% to $89.1 million in the first quarter of fiscal 2025 from $79.0 million in the first quarter of 2024;
• Adjusted EBITDA⁽¹⁾ improved 9.9% to $31.1 million in the first quarter of 2025 from $28.3 million in the first quarter of 2024.

Adjusted EBITDA⁽¹⁾ by segment was $23.0 million or 40.4% of revenues for Broadcasting and Commercial Music, $9.9 million or 30.8% of revenues for Radio, and $(1.8) million for Corporate;

• Net income totaled $7.3 million, or $0.11 per share, in the first quarter of 2025 compared to $14.1 million, or $0.20 per share, in the first quarter of 2024;
• Adjusted net income⁽¹⁾ increased 17.2% to $13.9 million, or $0.20 per share, in the first quarter of 2025 from $11.9 million, or $0.17 per share, in the same period of 2024;
• Cash flow from operating activities amounted to $10.8 million, or $0.16 per share, in the first quarter of 2025 compared to $24.3 million, or $0.35 per share, in the first quarter of 2024;
• Adjusted free cash flow⁽¹⁾ reached $15.5 million, or $0.22 per share, in the first quarter of 2025 compared to $18.5 million, or $0.27 per share, in the same period last year;
• Net debt to Pro Forma Adjusted EBITDA⁽¹⁾ ratio attained 2.77x in the first quarter of 2025 compared to 3.28x in the first quarter of 2024; and
• Repurchased and cancelled 307,200 shares for a total of $2.3 million in the first quarter of 2025.

Montreal, August 6, 2024 – Stingray Group Inc. (TSX: RAY.A; RAY.B) (the “Corporation”; “Stingray”), an industry leader in music and video content distribution, business services, and advertising solutions, announced today its financial results for the first quarter of fiscal 2025 ended June 30, 2024.

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Contact Information

Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
(514) 664-1244, ext. 2362
[email protected]