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.
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