Core Insights - Stingray Group Inc. reported strong financial results for the fourth quarter and fiscal year ended March 31, 2025, highlighting significant revenue growth and a return to profitability [3][4][6]. Fourth Quarter Highlights - Revenues increased by 14.8% to $96.0 million in Q4 2025 from $83.7 million in Q4 2024, driven by higher FAST channel revenues and positive foreign exchange impact [4][9]. - Net income for Q4 2025 was $7.7 million, or $0.11 per share, compared to a net loss of $46.3 million, or ($0.67) per share, in Q4 2024, primarily due to a one-time impairment charge in the previous year [4][13]. - Adjusted EBITDA grew by 19.0% to $35.0 million in Q4 2025 from $29.4 million in Q4 2024, with an adjusted EBITDA margin of 36.5% [4][12]. - Cash flow from operating activities decreased by 10.3% to $39.7 million in Q4 2025 from $44.3 million in Q4 2024 [4][14]. - Adjusted free cash flow rose by 17.8% to $18.4 million in Q4 2025 from $15.6 million in Q4 2024 [4][15]. Full Year Highlights - Total revenues for fiscal 2025 increased by 12.0% to $386.9 million from $345.4 million in 2024, attributed to higher FAST channel revenues and equipment sales [4][16]. - Net income for fiscal 2025 was $36.4 million, or $0.53 per share, compared to a net loss of $13.7 million, or ($0.20) per share, in 2024 [4][18]. - Adjusted EBITDA improved by 13.0% to $142.2 million in fiscal 2025 from $125.9 million in 2024, with an adjusted EBITDA margin of 36.8% [4][17]. - Adjusted net income increased to $72.7 million, or $1.05 per share, in fiscal 2025 compared to $60.3 million, or $0.87 per share, in 2024 [4][19]. - The company repurchased and cancelled 1,186,800 shares for a total of $9.1 million in 2025, compared to 557,500 shares for $2.9 million in 2024 [4]. Business Strategy and Outlook - The company experienced a 45% increase in advertising revenues for its Broadcast and Recurring Commercial Music segment for the second consecutive year, indicating strong demand for connected TV advertising [6]. - Stingray's collaboration with IAB Canada and Leger has solidified its position as a leader in in-store audio advertising [6]. - The company aims to reduce its net debt level to a leverage ratio approaching 2.0 times and will continue to seek acquisitions opportunistically while rewarding shareholders through dividends [8].