Stingray Announces Robust Fiscal 2024 Third Quarter Financial Performance

Stingray, a prominent media and music company, has publicly disclosed its financial results for the third quarter of fiscal 2024. The results highlight a significant surge in the company’s revenues and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), signaling strong operational performance and growth.

Fiscal 2024 Third Quarter Revenue and Adjusted EBITDA Growth

In a remarkable achievement, Stingray’s quarterly results revealed that revenues climbed by 12.4% to $100.3 million, an increase from the previous figure of $89.2 million reported in the corresponding quarter of the previous year. Alongside this revenue growth, the company also registered a 12.2% rise in adjusted EBITDA, reaching $38.6 million, up from $34.5 million. This double-digit growth underscores the company’s financial resilience and ability to expand its profitability margins.

Segment-Wise Adjusted EBITDA Performance

Delving deeper into the financials, the adjusted EBITDA by segment was reported to be $27.9 million or 42.5% of revenues for Broadcasting and Commercial Music, and $12.3 million or 35.6% of revenues for Radio segment. These figures demonstrate the strength of Stingray’s diversified portfolio and its effective segment-oriented strategy.

The company’s stock, traded under various stock tickers, reflects their current fiscal stance and potential investor confidence. The details regarding stock performance and related analytics will be addressed in dedicated financial platforms that track stock tickers.

Revenue, EBITDA, Growth