Reservoir Media(RSVR) - 2025 Q4 - Annual Results

Financial Performance - Total revenue for fiscal year 2025 was $158.7 million, representing a 10% increase compared to $144.9 million in fiscal year 2024[9] - Music Publishing revenue increased by 12% year-over-year to $107.4 million, while Recorded Music revenue grew by 4% to $44.3 million[9] - Operating income for fiscal year 2025 was $35.1 million, a 43% increase from $24.6 million in fiscal year 2024[11] - OIBDA for fiscal year 2025 rose 24% to $61.4 million, compared to $49.6 million in the previous year[11] - Net income for fiscal year 2025 was $7.7 million, or $0.12 per diluted share, compared to $0.8 million, or $0.01 per share, in fiscal year 2024[12] - For the fiscal year ended March 31, 2025, Reservoir reported revenues of $158.7M, a 10% increase from $144.9M in the previous year[29] - Operating income for the fiscal year 2025 was $35.1M, reflecting a significant 43% increase compared to $24.6M in fiscal year 2024[29] - Net income attributable to Reservoir Media, Inc. for fiscal year 2025 was $7.7M, up from $644.9K in fiscal year 2024[29] - OIBDA for the fiscal year ended March 31, 2025, was $61,360,000, up from $49,562,000 in 2024, reflecting a year-over-year increase of 23.8%[41] - Net income for the fiscal year ended March 31, 2025, was $7,731,000, significantly higher than $837,000 in 2024, indicating a substantial increase of 832.5%[46] Cash Flow and Liquidity - Cash provided by operating activities increased to $45.3 million, up $9.1 million from the previous fiscal year[19] - As of March 31, 2025, total available liquidity was $79.6 million, compared to $132.3 million as of March 31, 2024[20] - Cash and cash equivalents increased to $21.4M as of March 31, 2025, up from $18.1M in the prior year[30] Future Projections - The company expects mid-single-digit growth for both top and bottom lines in fiscal year 2026[1] - Reservoir expects fiscal year 2026 revenue to be in the range of $164M - $169M, representing a 5% growth at the mid-point[21] - Adjusted EBITDA for fiscal year 2026 is projected to be between $68M - $72M, indicating a 6% growth at the mid-point[21] Assets and Liabilities - Total assets as of March 31, 2025, were $865.1M, an increase from $783.5M as of March 31, 2024[30] - Current assets increased to $79.3M as of March 31, 2025, compared to $70.9M in the previous year[30] - Total liabilities rose to $498.9M as of March 31, 2025, from $429.0M a year earlier[32] Operational Highlights - The company signed multiple publishing deals, including with Snoop Dogg and Death Row Records, and acquired several publishing catalogs[4] - The launch of the new subsidiary, PopIndia, aims to enhance the company's international presence, particularly in the Middle East and North Africa[6] Non-GAAP Measures - Reservoir's management emphasizes the importance of non-GAAP financial measures for evaluating operations and performance[34] - The company emphasizes that OIBDA and Adjusted EBITDA are non-GAAP measures that provide insights into operational performance, but they should not be viewed as substitutes for GAAP measures[38] Interest and Expenses - The company reported an interest expense of $21,883,000 for the fiscal year ended March 31, 2025, compared to $21,088,000 in 2024, indicating a rise of 3.8%[46] - The amortization and depreciation expense for the fiscal year ended March 31, 2025, was $26,299,000, up from $24,986,000 in 2024, representing an increase of 5.2%[41] Segment Performance - The recorded music segment's OIBDA for the fiscal year ended March 31, 2025, was $22,749,000, up from $19,141,000 in 2024, which is an increase of 13.6%[44] - The music publishing segment's OIBDA for the fiscal year ended March 31, 2025, was $37,345,000, compared to $28,884,000 in 2024, reflecting a growth of 29.3%[42]