Stingray is an industry leader in music and video content distribution, business services, and advertising solutions.

We deliver the best audio and video experiences to consumers, businesses, retailers, and advertisers alike, ensuring that we contribute to the success of partners and clients.

Company milestones and achievements

400M
viewers and listeners across all services
806K
SVOD subscribers around the world
2.5M
cars with our entertainment content on board
140K
commercial locations across 13K clients
100+
radio stations with 7.4M weekly listeners
160
countries across
six continents

Latest quarterly results

Revenues reach $100M fueled by organic growth of 23.9% in Broadcast and Recurring Commercial Music

  • Organic growth of 23.9% year-over-year in Broadcast and Recurring Commercial Music Revenues mainly due to strength in retail media advertising;
  • Revenues increased 12.4% to $100.3 million from $89.2 million;
  • Adjusted EBITDA(1) increased 12.2% to $38.6 million from $34.5 million. Adjusted EBITDA by segment was $27.9 million or 42.5% of revenues for Broadcasting and Commercial Music, $12.3 million or 35.6% of revenues for Radio and $(1.6) million for Corporate;
  • Net income was $9.1 million ($0.13 per share(1)) compared with $12.9 million ($0.19 per share(1));
  • Adjusted Net income(1) increased to $18.5 million ($0.27 per share(1)) compared with $16.5 million ($0.24 per share(1));
  • Cash flow from operating activities increased 25.6% to $30.9 million ($0.45 per share(1)) compared to $24.6 million ($0.35 per share(1));
  • Adjusted free cash flow(1) increased 80.6% to $32.7 million ($0.47 per share(1)) compared to $18.1 million ($0.26 per share(1));
  • Net debt to Pro Forma Adjusted EBITDA(1) ratio of 2.99x, compared with 3.34x;
  • 810,000 streaming subscribers, up 0.6% over Q3 2023 and;
  • 372,400 shares repurchased and cancelled for a total of $1.9 million, compared with 340,900 shares repurchased and cancelled for a total of $1.6 million.
Stingray Reports Second Quarter Results for Fiscal 2024
  • Organic growth of 7.1% year-over-year in Broadcast and Recurring Commercial Music Revenues mainly due to strength in retail media advertising;
  • Revenues increased 6.3% to $82.5 million from $77.6 million in Q2 2023;
  • Adjusted EBITDA(1) improved 9.2% to $29.5 million from $27.0 million. Adjusted EBITDA(1) by segment was $19.9 million or 40.0% of revenues for Broadcasting and Commercial Music, $11.0 million or 33.7% of revenues for Radio, and $(1.4) million for Corporate;
  • Net income reached $9.4 million ($0.14 per share) compared to $3.3 million ($0.05 per share);
  • Adjusted Net income(1) attained $14.6 million ($0.21 per share) compared to $10.8 million ($0.15 per share);
  • Cash flow from operating activities grew 3.6% to $19.1 million ($0.28 per share) from $18.4 million ($0.26 per share);
  • Adjusted free cash flow(1) reached $15.6 million ($0.22 per share) compared to $15.0 million ($0.21 per share);
  • Net debt to Pro Forma Adjusted EBITDA(1) ratio of 3.19x compared to 3.28x last quarter;
  • 795,700 streaming subscribers, up 4.7% over Q2 2023;
  • Repurchased and cancelled 119,800 shares for a total of $0.6 million this quarter, and 127,500 shares for a total of $0.7 million year-to-date.
First quarter highlights
  • Total revenues increased 1.1% to $79.0 million from $78.1 million;
  • Organic growth of -2.0% year-over-year in Broadcast and Recurring Commercial Music Revenues due to timing in Stingray Advertising Q1 campaigns. Current advertising revenues in Q2 at +45% year-over-year;
  • 795,000 streaming subscribers, up 8.9% over Q1 2023;
  • Adjusted EBITDA(3) improved 8.4% to $28.3 million from $26.1 million. Adjusted EBITDA(3) by segment was $20.0 million or 42.3% of revenues for Broadcasting and Commercial Music, $9.9 million or 31.1% of revenues for Radio, and $(1.6) million for Corporate;
  • Net income reached $14.1 million ($0.20 per share) compared to $9.4 million ($0.13 per share);
  • Adjusted Net income(3) was $11.9 million ($0.17 per share) compared to $13.2 million ($0.19 per share);
  • Cash flow from operating activities grew 48.4% to $24.3 million ($0.35 per share) from $16.3 million ($0.23 per share);
  • Adjusted free cash flow(3) increased 17.9% to $18.5 million ($0.27 per share) from $15.7 million ($0.22 per share);
  • Net debt to Pro Forma Adjusted EBITDA(3) ratio of 3.28x compared to 3.25x.
Adjusted EBITDA for the Broadcasting and Commercial Music Division up by 40.6% in the fourth quarter.
Fourth quarter highlights
  • Organic growth of 3.3% year-over-year in Broadcast and Recurring Commercial Music Revenues(1),
    including 7.6% in the United States;
  • Revenues increased 8.7% to $78.9 million from $72.6 million;
  • Adjusted EBITDA(2) increased 26.4% to $26.6 million from $21.0 million. Adjusted EBITDA(2) by segment was $20.4 million or 40.8% of revenues for Broadcasting and Commercial Music, $7.7 million or 26.6% of revenues for Radio and $(1.5) million for Corporate;
  • Net income was $4.4 million ($0.06 per share) compared to $4.5 million ($0.06 per share);
  • Adjusted Net income(2) increased 24.5% to $14.7 million ($0.21 per share) from $11.8 million ($0.17 per share);
  • Cash flow from operating activities increased 24.5% to $27.6 million ($0.40 per share) from $22.1 million ($0.31 per share);
  • Adjusted free cash flow(2) increased 26.0% to $14.9 million ($0.21 per share) from $11.8 million ($0.17 per
    share);
  • Net debt to Pro Forma Adjusted EBITDA(2) ratio of 3.19x, compared to 3.16x; and
  • 53,300 shares were repurchased and cancelled for a total of $0.3 million compared to 80,200 shares for
    a total of $0.6 million.

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FAQ

General
Q: Where is Stingray's headquarters? A:

Stingray’s headquarters are located in the Old Port of Montreal at 730 Wellington.

Q: How can I submit my music to Stingray? A:

You can send your demo to musicsubmissions@stingray.com.

Q: How can I contact customer service? A:

If you are a consumer, consult the help center to find the right product or solution. If you are a business, visit the Stingray Business website, or if you are using Chatter services, visit Chatter by Stingray .

Investors
Q: What is Stingray's fiscal year? A:

Stingray’s fiscal year starts on April 1 and ends on March 31.

Q: What is Stingray's ticker symbol? A:

Our ticker symbol is RAY.A.

Q: Where can I find corporate governance materials? A:

Visit the corporate governance section of the website for documents related to corporate governance.

Press
Q: How can I get a specific press kit? A:

Visit the media center to learn more about our press information. If you cannot find what you were looking for, contact press@stingray.com.

Q: How can I get notified about the latest press releases? A:

Email us at press@stingray.com to add your info to our notification list.

Q: Where should I go for a press inquiry? A:

Members of the press can contact us at contact press@stingray.com.