Record Advertising Revenue Growth
Advertising revenue in broadcast and commercial music grew over 45% for the second consecutive year, driven by FAST channels and retail media.
Successful Launch of New Channels
Stingray launched new channels like Cozy Cafe and Stargaze, strengthening its leadership in connected TV music and ambient content.
Debt Reduction and Financial Stability
Net debt was reduced by $27 million, ending the year with a leverage ratio of 2.28x, indicating strong financial management.
Strong Organic Growth
Organic growth reached 12.3%, following the previous year's 10.2%, marking two consecutive years of double-digit growth.
Increase in Broadcasting and Commercial Music Revenue
Broadcasting and commercial music revenue rose 17.8% to $254 million, with radio revenue up 2.3% to $132 million.
Significant Improvement in Net Income
Net income was $7.7 million, a significant improvement from last year's $46.3 million loss due to a goodwill impairment charge.
Adjusted EBITDA Growth and Margin Expansion
Adjusted EBITDA grew 19% to $35 million, with margins expanding to 36.5%.