Q2 2025 Stingray Group Inc Earnings Call Transcript
Key Points
- Stingray Group Inc (STGYF) reported a 22.2% increase in revenues for its broadcasting and commercial music business, reaching CAD 60.9 million.
- The company achieved a 15.6% organic growth excluding radio, marking four consecutive quarters of double-digit revenue increases.
- Advertising revenues rose by 66% year over year, driven by Stingray's fast channels and retail media segments.
- Stingray's partnership with Vizio and other TV manufacturers significantly contributed to revenue growth in the fast channel segment.
- The company expanded its in-car entertainment offerings, launching karaoke in Ford and Neo vehicles, and introduced new video channels for BMW Group vehicles.
- Revenues in other countries decreased by 5.9% year over year, primarily due to reduced business-to-customer subscriptions and lower audio channel revenues.
- Stingray reported a decrease in net income to CAD 5.8 million from CAD 9.4 million in the previous year, impacted by an unrealized loss in financial instruments and negative foreign exchange effects.
- The radio segment's revenues remained flat year over year, with digital advertising sales offset by lower national airtime revenues.
- Corporate EBITDA was negative CAD 2 million in the second quarter due to higher compensation expenses.
- The company faces challenges in the US market for in-store audio, requiring significant efforts to educate the market and secure major clients.
Good morning, ladies and gentlemen and welcome to the ST Group in Q2 2025 results conference call at this time. Note that all lines are in a listen-only mode following the presentation, we will conduct a question and answer session. And if at any time during this call, you require immediate assistance, please press star zero for the operator. Also note that this call is being recorded on November 6th 2024. And I would like to turn the conference over to Matsuk. Please go ahead.
Miss. Thank you very much. Good morning everyone and thank you for joining us for Stingray's conference call for its second quarter ended September 30th 2024 today, Eric Boyko, President CEO and Cofounder, as well as Jatin Chief Financial Officer will be presenting Stingray's operational and financial highlights our press release reporting. Stingray's second quarter results for fiscal 2025 was issued yesterday after the market closed, our press release and DNA and financial statements for the
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