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Earnings Routine +

Stingray Reports Fourth Quarter and Full-Year Results for Fiscal 2026

TuneIn integration drives revenue surge, but goodwill impairment and high SBC keep GAAP earnings in the red

By The Northwire Desk — AI Analysis Jun 09, 2026 · 18:00 RAY · 14.99 STINGRAY GROUP INC. SV AND SVS
Executive Summary
  • Q4 FY2026 revenues surged 43.6% YoY to $137.8M CAD, with full-year revenues up 21.9% to $471.6M CAD, primarily driven by the TuneIn acquisition.
  • Adjusted EBITDA improved 21.3% YoY to $42.5M CAD in Q4 (30.8% margin) and 12.6% YoY to $160.2M CAD for the full year (34.0% margin).
  • Q4 GAAP net loss was $64.6M CAD ($0.95 diluted share), heavily impacted by a $64.7M goodwill impairment charge, acquisition costs, amortization, and severance.
  • Adjusted net income for Q4 was $20.8M CAD ($0.31 diluted share); full-year adjusted net income was $90.3M CAD ($1.33 diluted share).
  • Adjusted Free Cash Flow was $20.1M CAD in Q4 (+9.1% YoY) and $102.1M CAD for the full year (+22.1% YoY).
  • TuneIn synergies are accelerating: $42M+ in revenue synergies and $12M in cost optimizations achieved in under six months.
  • Geographic performance shows a stark divergence: US revenues surged 117.0% to $82.5M CAD, while Canadian revenues declined 5.5% to $44.2M CAD.
  • Management declared a quarterly dividend of $0.085 per share and highlighted Q1 organic growth tracking over 20%.
Material Impact
  • The news is Routine - Positive. The core drivers are the 43.6% Q4 revenue beat, strong FCF generation (+22.1% YoY), and accelerated TuneIn synergies. These are genuinely new, market-relevant positives that contrast with the -14.7% run-down into the print.
  • The goodwill impairment and declining Canadian radio revenue temper the enthusiasm, but they are largely priced in given the stock's trajectory. The market's reaction will likely hinge on whether Q1 organic growth >20% holds and whether programmatic ad sales reach the $275M run rate.
RAY · Price
Company Overview
  • Stingray Group Inc. is a global audio entertainment and advertising company. Its portfolio includes TuneIn (digital audio streaming and advertising), in-store audio advertising networks, and traditional radio broadcasting. The company is strategically pivoting toward digital audio, FAST (Free Ad-Supported Streaming TV) channels, and in-vehicle infotainment partnerships to offset secular declines in traditional media.
Read the original news release →

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Stingray to Release its Financial Results for the Fourth Quarter of Fiscal 2026

Earnings