Stingray FY26 revenue rises 21.9% led by TuneIn acquisition

2 min read Updated on 10 Jun 2026, 03:51 AM

Reviewed by

Ashish TScanX News Team

AI Summary

Stingray Group Inc. reported fiscal 2026 revenue of $471.6 million, an increase of 21.9% from $386.9 million in 2025, driven primarily by the TuneIn acquisition and growth in its free ad-supported streaming television (FAST) channel segment. The company's adjusted EBITDA improved 12.6% to $160.2 million from $142.2 million in the prior year. Despite the top-line growth, the company recorded a net loss of $28.6 million, or $0.42 per diluted share, compared to net income of $36.4 million, or $0.53 per diluted share, in 2025, largely due to a goodwill impairment charge of $64.7 million. For the fourth quarter of fiscal 2026, revenue surged 43.6% to $137.8 million from $96.0 million in the same period of 2025. Adjusted EBITDA for the quarter increased 21.3% to $42.5 million. Quarterly earnings per share were $0.31, a 14.81% increase from $0.27 in the same period last year. The Board of Directors declared a dividend of $0.085 per share payable on or around June 15, 2026, to shareholders of record as of May 29, 2026.

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Financial Performance

For the fourth quarter of fiscal 2026, revenue surged 43.6% to $137.8 million from $96.0 million in the same period of 2025. Adjusted EBITDA for the quarter increased 21.3% to $42.5 million. Quarterly earnings per share were $0.31, a 14.81% increase from $0.27 in the same period last year. However, the net loss for the quarter totaled $64.6 million, or $0.95 per diluted share, compared to net income of $7.7 million, or $0.11 per diluted share, in the fourth quarter of 2025. The decline in profitability was attributed to the goodwill impairment charge, along with higher acquisition costs, amortization expenses, and severance costs related to the TuneIn transaction.

Metric (in thousands of Canadian dollars)	Q4 2026	Q4 2025	Change	Fiscal 2026	Fiscal 2025	Change
Revenues	$137,825	$96,008	43.6%	$471,567	$386,891	21.9%
Adjusted EBITDA	$42,492	$35,027	21.3%	$160,186	$142,199	12.6%
Net income (loss)	$(64,624)	$7,655	—	$(28,575)	$36,440	—
Adjusted Net income	$20,811	$18,568	12.1%	$90,290	$72,654	24.3%
Cash flow from operating activities	$35,225	$39,720	(11.3%)	$116,558	$105,040	11.0%
Adjusted free cash flow	$20,086	$18,411	9.1%	$102,076	$83,611	22.1%

Operational Highlights

President, Co-Founder and CEO Eric Boyko attributed the strong financial performance to the transformative impact of the TuneIn acquisition, which contributed to programmatic advertising capabilities and a broad network of partners. Revenue synergies from the acquisition surpassed $42 million, and cost optimization reached $12 million less than six months into the integration. FAST channel revenues grew more than 60% year-over-year in 2026. Broadcasting and Commercial Music revenues increased 33.2% to $339.2 million, while Radio revenues remained relatively stable at $132.4 million.

Dividend Declaration

The Board of Directors declared a dividend of $0.085 per subordinate voting share, variable subordinate voting share, and multiple voting share. The dividend is payable on or around June 15, 2026, to shareholders of record as of May 29, 2026. The company noted that its dividend policy is at the discretion of the Board and may vary based on available cash flow and financial condition.

Balance Sheet and Liquidity

As of March 31, 2026, Stingray had cash and cash equivalents of $20.7 million and credit facilities of $524.1 million. The net debt to Pro Forma Adjusted EBITDA ratio stood at 2.38x at the end of fiscal 2026, compared to 2.28x at the end of 2025. The company repurchased and cancelled 1.1 million shares for a total of $12.9 million in fiscal 2026.