Stingray Reports Second Quarter Results for Fiscal 2027
Key Highlights
- ➤Q2 revenue $171.4 million, up 51.3% year over year
- ➤Adjusted EBITDA $58.3 million, up 47.5%, with 34.0% margin
- ➤Adjusted net income $34.7 million, up 58.8%, or $0.51 per diluted share
- ➤TuneIn synergies reached $45 million revenue and $12 million cost annualized run rates
- ➤Quarterly dividend increased $0.015 to $0.100 per share
Expert Statements
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“Stingray’s strong second quarter results reflect the team’s outstanding effort to deliver higher profitability across all our growing segments. Stingray’s Adjusted EBITDA increased 47.5% year over year to $58.3 million in the second quarter. We are pleased to have achieved an Adjusted EBITDA margin of 34.0%, bringing us closer to our annual target of 35%.”
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“Since completing the TuneIn acquisition, we have focused on integrating the business and realizing revenue and cost synergies. These synergies have reached an annualized run rate of $45 million and $12 million, respectively, exceeding our internal expectations. We believe there are further opportunities to optimize our synergies both in terms of revenues and costs moving forward.”
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“Our FAST channel segment delivered revenue growth of more than 85% year over year. During the quarter, we secured the rights to monetize Samsung’s unsold advertising inventory, making Samsung the third major television manufacturer to join Stingray’s Premium Ad Network.”
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“We also expanded our FAST channel distribution in Europe and the Middle East, launching 20 channels across 13 European countries on LG Smart TVs, a new suite of channels in the United Arab Emirates on LG Channels, and 17 channels across nine countries on Rakuten TV. In addition, we continued to deploy our popular products such as Moodscape and continued to expand our offering and distribution. We continue to see mid to long term growth opportunities in the Connected TV and FAST channel vertical.”
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“In-car entertainment revenue grew at a double-digit rate in the second quarter. We recently announced Ford Streaming Radio and Lincoln Streaming Radio, co-branded applications powered by Stingray that are rolling out in select North American vehicles. Their audio catalogue includes more than 100 curated, ad-free music channels, 100,000 local and international radio stations, and four million podcasts across a range of topics. We also entered into an agreement with Stellantis to bring the TuneIn app to select future vehicles.”
Eric Boyko, President, co-founder and CEO of Stingray Group Inc.
“Broadcasting and Commercial Music revenue surged nearly 70% year over year to $137.3 million in the second quarter. This outstanding growth reflects Stingray’s strong position in distribution and our proven ability to monetize an expanding advertising inventory, driven by robust demand across our Premium Ad Network and further amplified by TuneIn. Advertising revenue—which includes TuneIn, FAST channels and Retail Media—more than doubled during the same period, while organic sales increased 15%. Finally, as expected, Radio revenue climbed 5% to $34.1 million, supported by higher national airtime and digital revenue.”
Successful TuneIn integration and rapid FAST channel expansion drive Adjusted EBITDA up 47.5% * Organic growth of 15.1% year-over-year in Broadcast and Recurring Commercial Music Revenues; * Revenues increased 51.3% to $171.4 million in the second quarter of 2027 from $113.3 million in the second quarter of 2026; * Adjusted EBITDA((1)) grew 47.5% to $58.3 million in the second quarter of 2027 from $39.5 million in the same period last year. Adjusted EBITDA((1)) by segment was $49.9 million or 36.4% of revenues for Broadcasting and Commercial Music, $10.8 million or 31.8% of revenues for Radio, and $(2.4) million for Corporate; * Net income appreciated to $16.2 million, or $0.24 per diluted share, in the second quarter of 2027 compared to $11.8 million, or $0.17 per diluted share, in the second quarter of 2026; * Adjusted Net income((1)) improved 58.8% to $34.7 million, or $0.51 per diluted share, in the second quarter of 2027 from $21.9 million, or $0.32 per diluted share, in the same period of 2026; * Cash flow from operating activities increased 81.9% to $44.3 million, or $0.65 per diluted share, in the second quarter of 2027 from $24.3 million, or $0.35 per diluted share, in the second quarter of 2026; * Adjusted free cash flow((1)) grew to $39.0 million, or $0.57 per diluted share, in the second quarter of 2027 compared to $28.4 million, or $0.41 per diluted share, in the same period of 2026; and * Net debt to Pro Forma Adjusted EBITDA((1)) ratio reached 2.39x in the second quarter of 2027 compared to 2.13x in the second quarter of 2026. MONTREAL, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY) (the “Corporation”; “Stingray”), the world’s leading connected streaming media company, announced today its financial results for the second quarter of fiscal 2027 ended September 30, 2026.
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