Broadcast and Commercial Music Revenues Achieve Fourth Consecutive Quarter of Double-Digit Organic Growth
- Organic growth of 15.6% year-over-year in Broadcast and Recurring Commercial Music Revenues largely driven by FAST channel sales;
- Revenues increased 13.4% to $93.6 million in the second quarter of fiscal 2025 from $82.5 million in the second quarter of 2024;
- Adjusted EBITDA(1) grew 15.2% to $34.0 million in the second quarter of 2025 from $29.5 million in the second quarter of 2024. Adjusted EBITDA by segment was $25.0 million or 41.0% of revenues for Broadcasting and Commercial Music, $11.0 million or 33.7% of revenues for Radio, and $(2.0) million for Corporate;
- Net income decreased to $5.8 million, or $0.08 per share, in the second quarter of 2025 from $9.4 million, or $0.14 per share, in the second quarter of 2024;
- Adjusted Net income(1) improved to $16.7 million, or $0.24 per share, in the second quarter of 2025 from $14.6 million, or $0.21 per share, in the same period of 2024;
- Cash flow from operating activities totaled $19.2 million, or $0.28 per share, in the second quarter of 2025 compared to $19.1 million, or $0.28 per share, in the second quarter of 2024;
- Adjusted free cash flow(1) reached $21.1 million, or $0.31 per share, in the second quarter of 2025 compared to $14.6 million, or $0.21 per share, in the same period of 2024;
- Net debt to Pro Forma Adjusted EBITDA(1) ratio attained 2.72x in the second quarter of 2025 compared to 3.19x in the second quarter of 2024; and
- Repurchased and cancelled 333,400 shares for a total of $2.5 million in the second quarter of 2025 compared to 119,800 shares for a total of $0.6 million in the second quarter of 2024.
Montreal, November 5, 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 second quarter of fiscal 2025 ended September 30, 2024.
Contact Information
Mathieu Péloquin
Senior Vice-President, Marketing and Communications
Stingray
(514) 664-1244, ext. 2362
mpeloquin@stingray.com