Reservoir Media (RSVR) Earnings Call Presentation

Company Overview - Reservoir is the first U S -based publicly traded independent music company[12] - The company has a vast collection of iconic hits across various genres, geographies, and time periods[16] - Reservoir has offices in NYC (HQ), LA, Nashville, London, Toronto, Abu Dhabi & Mumbai[17] Financial Performance and Outlook - Q4 Fiscal Year 2025 total revenue grew by 6% year-over-year[93] - Q4 Fiscal Year 2025 Adjusted EBITDA grew by 14% year-over-year[93] - The company issued a fiscal year 2026 outlook, projecting revenue between $164 million and $169 million (5% growth) and Adjusted EBITDA between $68 million and $72 million (6% growth)[98] - As of March 31, 2025, the company's total debt was $388 million, with $21 million in cash, resulting in net debt of $367 million[102] Business Segments - Music Publishing accounted for 68% of revenue[15] - Recorded Music accounted for 28% of revenue[15] - Other revenue streams accounted for 4% of revenue[15] - Digital revenue makes up 56% of Music Publishing revenue[35] - Digital revenue makes up 69% of Recorded Music revenue[48] M&A and Investments - Reservoir has invested over $1 billion since inception, with $868 million in acquisitions of catalogs and companies and $195 million in futures spend[24] - The company's M&A pipeline includes over 100 potential targets worth over $1 billion as of March 31, 2025[24]