Reservoir Media(RSVR) - 2026 Q2 - Quarterly Results

Financial Performance - Total revenue for Q2 FY26 was $45.4 million, a 12% increase from $40.7 million in Q2 FY25, driven by a 21% increase in Recorded Music revenue and an 8% increase in Music Publishing revenue [4]. - Operating income rose to $10.7 million, up 6% year-over-year, while OIBDA increased by 10% to $18.2 million [6]. - Net income for Q2 FY26 was $2.2 million, or $0.03 per share, compared to $0.2 million, or $0.00 per share, in the prior year [7]. - Adjusted EBITDA increased by 10% to $19.4 million, reflecting higher total revenues despite increased administrative expenses [6]. - Music Publishing revenue reached $30.9 million, an 8% increase year-over-year, with Performance revenue up 47% [8]. - Recorded Music revenue was $13.0 million, a 21% increase, primarily due to growth in digital revenue and synchronization revenue [10]. - Revenues for the three months ended September 30, 2025, were $45,435,051, representing a 12% increase compared to $40,667,393 for the same period in 2024 [23]. - Operating income for the three months ended September 30, 2025, was $10,686,541, a 6% increase from $10,122,026 in 2024 [23]. - Net income attributable to Reservoir Media, Inc. for the three months ended September 30, 2025, was $2,257,841, compared to $185,015 in 2024 [23]. - OIBDA for the three months ended September 30, 2025, was $18,243,000, up from $16,552,000 in 2024 [34]. - Revenues for Q3 2025 reached $12,982 million, a 21.4% increase from $10,693 million in Q3 2024 [38]. - OIBDA for Q3 2025 was $6,596 million, up 22.0% from $5,405 million in Q3 2024 [38]. - Net Income for Q3 2025 was $2,204 million, compared to $152 million in Q3 2024, indicating a significant improvement [40]. - Adjusted EBITDA for Q3 2025 increased to $19,357 million, a rise of 9.9% from $17,605 million in Q3 2024 [40]. - Total revenues for the first six months of 2025 were $23,426 million, up 15.4% from $20,323 million in the same period of 2024 [38]. - EBITDA for the first six months of 2025 was $30,145 million, compared to $22,087 million in the first half of 2024, reflecting a 36.5% increase [40]. Strategic Initiatives - The company acquired the publishing catalog of Miles Davis and extended deals for Nick Drake's catalog, enhancing its strategic partnerships [4]. - For fiscal year 2026, the company raised its revenue guidance to $167 million - $170 million, reflecting a growth of 6% [14]. - The company is focused on long-term growth strategies through disciplined investments and global diversification [3]. Liquidity and Assets - As of September 30, 2025, total available liquidity was $152.1 million, with cash and cash equivalents of $27.9 million [13]. - Total current assets increased to $83,784,832 as of September 30, 2025, from $79,284,295 as of March 31, 2025 [25]. - Total assets reached $903,535,511 as of September 30, 2025, compared to $865,127,010 as of March 31, 2025 [25]. - Total liabilities increased to $531,419,020 as of September 30, 2025, from $498,927,228 as of March 31, 2025 [25]. - Cash and cash equivalents rose to $27,939,407 as of September 30, 2025, from $21,386,140 as of March 31, 2025 [25]. Shareholder Information - The company reported a basic earnings per share of $0.03 for the three months ended September 30, 2025, compared to $0 for the same period in 2024 [23]. - The weighted average diluted shares outstanding increased to 66,273,757 for the three months ended September 30, 2025, from 65,837,273 in 2024 [23]. Expenses and Losses - Interest Expense for Q3 2025 was $6,742 million, an increase from $4,960 million in Q3 2024 [40]. - The company reported a loss on fair value of swaps of $316 million in Q3 2025, down from a gain of $5,127 million in Q3 2024 [40]. - Administration expenses for Q3 2025 were $2,901 million, up from $2,239 million in Q3 2024, indicating a 29.6% increase [38]. - The company experienced a foreign exchange loss of $387 million in Q3 2025, compared to a loss of $36 million in Q3 2024 [40].