Stingray’s Solid Growth Amidst Radio Impairment Loss

Stingray Digit SV (TSE:RAY.A) has released an update.

Stingray Group Inc. has reported a robust financial performance for the fourth quarter and the full fiscal year of 2024, with notable year-over-year organic growth in Broadcast and Recurring Commercial Music Revenues of over 9%. The company saw a healthy 10.7% increase in adjusted EBITDA and achieved a significant improvement in their Net debt to EBITDA ratio, despite a net loss attributed to a one-time goodwill impairment in the Radio segment. Cash flow from operations and adjusted free cash flow also showed substantial increases, demonstrating the company’s strong financial health.

For further insights into TSE:RAY.A stock, check out TipRanks’ Stock Analysis page.