Strong Advertising Revenue Growth
Advertising revenue in broadcast and commercial music grew over 45% for the second straight year, driven by FAST channels and retail media.
Launch of New Channels
Launched new channels like Cozy Cafe and Stargaze, enhancing leadership in connected TV music and ambient content.
Debt Reduction
Net debt reduced by $27 million, ending the year with a leverage ratio of 2.28x.
Continued Organic Growth
Organic growth hit 12.3%, marking two consecutive years of double-digit growth.
Revenue and EBITDA Growth
Broadcasting and commercial music revenue rose 17.8% to $254 million, radio grew 2.3% to $132 million. Adjusted EBITDA grew 19% to $35 million with margins expanding to 36.5%.
Improved Net Income
Net income was $7.7 million compared to a $46.3 million loss last year, with adjusted net income up to $18.6 million from $15.4 million.
Strong Cash Position
Ended the quarter with $14 million in cash and $156.3 million in available credit.
Successful Share Repurchase and Dividends
Repurchased 275,000 shares in Q4, totaling $9.1 million for the year, and paid $20.5 million in dividends.