Adjusted EBITDA increased 47.1% to $21.9 million primarily due to a settlement with SOCAN as well as reduced operating costs partially offset by a special bonus to employees. Stingray Group Inc is a music, media, and technology company. Currency in EUR. Investors are often drawn to strong companies with the idea of reinvesting the dividends. This decrease was primarily due to the impact of the COVID-19 pandemic on Radio revenues and, to a lesser extent, on the Broadcast and Commercial Music revenues and to a decrease in equipment and installation sales related to digital signage. On November 4, 2020, the Corporation announced that it had reached a long-term agreement with TELUS that continues to advance the companies’ long-standing partnership. In doing so, we have substantially expanded Stingray’s total addressable market and look to the future with considerable enthusiasm,” concluded Mr. Boyko. This increase was primarily due to organic growth in advertising revenues in the Broadcast and Commercial Music segment and in streaming subscriptions. © 2021 Verizon Media. Stingray Group Inc is a music, media, and technology company. 2362mpeloquin@stingray.com, Third Quarter Highlights Revenues decreased 10.8% to $72.6 million from $81.3 million, primarily due to the impact of the COVID-19 pandemic on Radio revenuesBroadcasting and Commercial Music revenues increased 0.7% and Radio revenues decreased 21.8%, beating the Canadian Radio market in most comparable measuresMarked organic growth of 6.3% in Broadcast and Recurring Commercial Music revenues(1) excluding the impact of foreign exchange and impressive organic growth of 13.7% in the United StatesOperating expenses materially decreased by 20.7% to $40.6 million from $51.2 millionAdjusted EBITDA(2) increased 9.5% to $34.0 million from $31.0 millionCash flow from operating activities decreased 43.4% to $16.3 million compared to $28.8 millionAdjusted free cash flow(3) decreased 6.6% to $19.6 million, or $0.27 per share, compared to $21.0 million or $0.28 per shareNet debt to Pro Forma Adjusted EBITDA(2)(4) ratio of 2.65x515,000 streaming subscribers, increased appreciably by 31.4% over last year. Stingray Group Inc Subord Voting RAY.A Morningstar Rating Rating as of Dec 28, 2020. Adjusted EBITDA and Adjusted Net income reconciliation to Net income 3 months 9 months(in thousands of Canadian dollars)Dec. 31,2020Q3 2021 Dec. 31,2019Q3 2020 Dec. 31,2020YTD 2021 Dec. 31,2019YTD 2020 Net income14,118 8,089 33,027 22,456 Net finance expense (income)(1,290)(4,383) 6,085 9,359 Change in fair value of investments2,434 (4,781) 3,787 (4,636)Income taxes4,900 1,897 11,913 5,857 Depreciation and write-off of property and equipment2,894 2,876 8,571 8,687 Depreciation of right-of-use assets1,399 1,402 4,224 4,192 Amortization of intangible assets5,478 5,494 16,076 17,548 Share-based compensation231 238 616 743 Performance and deferred share unit expense1,780 677 4,408 2,252 Acquisition, legal, restructuring and other expenses2,049 19,524 1,923 23,411 Adjusted EBITDA33,993 31,033 90,630 89,869 Net finance expense (income), excluding mark-to-market losses (gains) on derivative financial instruments(1,727)(4,184) (9,405)(16,146)Income taxes(4,900)(1,897) (11,913)(5,857)Depreciation of property and equipment and write-off(2,894)(2,876) (8,571)(8,687)Depreciation of right-of-use assets(1,399)(1,402) (4,224)(4,192)Income taxes related to change in fair value of investments, share-based compensation, performance and deferred share unit expense, amortization of intangible assets, mark-to-market losses (gains) on derivative financial instruments and acquisition, legal, restructuring and other expenses(2,019)(3,964) (5,643)(9,174)Adjusted Net income21,054 16,710 50,874 45,813 Adjusted free cash flow reconciliation to Cash flow from operating activities 3 months 9 months(in thousands of Canadian dollars)Dec. 31,2020Q3 2021 Dec. 31,2019Q3 2020 Dec. 31,2020YTD 2021 Dec. 31,2019YTD 2020 Cash flow from operating activities16,333 28,833 79,732 74,083 Add / Less : Acquisition of property and equipment(1,849)(1,479) (3,761)(4,551)Acquisition of intangible assets other than internally developed intangible assets(649)(495) (1,119)(1,306)Addition to internally developed intangible assets(1,838)(1,286) (5,061)(4,368)Interest paid(6,312)(4,150) (12,911)(13,623)Repayment of lease liabilities(1,255)(1,295) (3,912)(3,693)Net change in non-cash operating working capital items15,858 (17,702) 10,976 (9,432)Unrealized loss on foreign exchange(2,692)(917) (5,316)(145)Acquisition, legal, restructuring and other expenses2,049 19,524 1,923 23,411 Adjusted free cash flow19,645 21,033 60,551 60,376 Pro Forma Adjusted EBITDA reconciliation (in thousands of Canadian dollars)December 31, 2020March 31, 2020Adjusted EBITDA of the last twelve months (see reconciliation below)118,847118,086Synergies and Adjusted EBITDA for the months prior to the business acquisitions which are not already reflected in the results1,0432,037COVID-19 mandated store closures required anticipated rollouts and deployments to be deferred1,000-Pro Forma Adjusted EBITDA120,890120,123Net debt to Pro Forma Adjusted EBITDA2.653.01 Last twelve months Adjusted EBITDA reconciliation to Net income 3 months(in thousands of Canadian dollars)Dec. 31,2020Sept. STINGRAY GROUP INC. (317A.BE) Add to watchlist. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. The Corporation believes that Adjusted Net income and Adjusted Net income per share are important measures as it shows stable results from its operation which allows users of the financial statements to better assess the trend in the profitability of the business. Stingray Group Inc. Mailing Address: 730 Wellington Street Montréal, Québec H3C 1T4: Head Office Address: 730 Wellington Montréal, Québec H3C 1T4: Contact Name: Lloyd Perry Feldman: Principal Regulator: Quebec: Business e-mail address: lfeldman@stingray.com: Short Form Prospectus Issuer: Yes: Telephone Number: 514 664-1244: Reporting Jurisdictions: All … The $420.0 million credit facilities consist of a $325.0 million revolving credit facility and a $75.0 million term loan, both maturing in October 2023, and the pre-existing $20.0 million term loan, maturing in May 2021. It broadcasts high quality music and video content on a number of platforms including digital TV, satellite TV, IPTV, the Internet, mobile devices and game consoles. 317A. View real-time stock prices and stock quotes for a full financial overview. Koss's CEO Sold 36,000 Shares. Get the latest stock price for Stingray Group Inc. Stingray Digital Group For more information, please contact: Mathieu PéloquinSenior Vice-President, Marketing and CommunicationsStingray 1 514-664-1244, ext. Variable (RAY.B). About Stingray Montreal-based Stingray Group Inc. (TSX: RAY.A; RAY.B) is a leading music, media, and technology company with over 1,200 employees worldwide. 0 stock analysts on Stockchase covered Stingray Digital Group Inc. Notwithstanding a 21.8% decline in revenues, the Adjusted EBITDA margin not only remained healthy but actually improved to 42.6% compared to last year. The Corporation believes that Adjusted free cash flow and Adjusted free cash flow per share are important measures when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. Stingray Group Inc. (formerly Stingray Digital and Stingray Digital Group) is a publicly traded Canadian media and entertainment company based in Montreal, Quebec, with offices in the United States, Belgium, the United Kingdom, the Netherlands, Switzerland, France, Israel, Australia and South Korea.The company broadcasts music and video content on platforms including cable … The … Find the latest STINGRAY GROUP INC. (317A.BE) stock quote, history, news and other vital information to help you with your stock trading and investing. The Company offers SVOD … Stingray to Release its Financial Results for the Third Quarter of Fiscal 2021. Corporate Governance Visit the Corporate Governance section for information about our executive and non-executive directors, committees, governance practices, code of ethics and corporate values. Current stock quote for Stingray Group Inc (Sub Voting) ( STGYF ) including financial statements, level 2 data, and the latest Media - Diversified news, … A2PASS. As of December 31, 2020, the Corporation had cash and cash equivalents of $9.8 million, a subordinated debt of $39.7 million and credit facilities of $290.4 million, of which approximately $116.7 million was available. Stingray Group Inc. Stock Signals TSX:RAY-A Latest Data & Signals Issued. We are pursuing our push in FAST Channels with new partners and access to new geographic markets, with our existing viewer reach increasing at an exponential rate. Nine months ResultsRevenues for the first nine months of Fiscal 2021 decreased $49.1 million or 20.6% to $189.2 million, from $238.3 million a year ago. Adjusted Net income was $21.1 million ($0.29 per share), compared to $16.7 million ($0.22 per share) a year earlier. The Corporation believes that Net debt and Net debt to Pro Forma Adjusted EBITDA are important to analyse the company's debt repayment capacity on an annualized basis, taking into consideration the annualized adjusted EBITDA of acquisitions made during the last twelve months. The Broadcasting and Commercial Music segment specializes in the broadcast of music and videos on multiple platforms, and digital signage experiences, and generates revenues from subscriptions or contracts. Stingray Group Inc. Mailing Address: 730 Wellington Street Montréal, Québec H3C 1T4: Head Office Address: 730 Wellington Montréal, Québec H3C 1T4: Contact Name: Lloyd Perry Feldman: Principal Regulator: Quebec: Business e-mail address: lfeldman@stingray.com: Short Form Prospectus Issuer: Yes: Telephone Number: 514 664-1244: Reporting Jurisdictions: All … STINGRAY GROUP INC. (RAY.A) Add to my list. Financial Highlights(in thousands of dollars, except per share data)Three months endedDecember 31Nine months endedDecember 31 20212020% 20212020% Revenues72,56581,313(10.8)189,152238,323(20.6)Adjusted EBITDA(2)33,99331,0339.5 90,63089,8690.8 Net income14,1188,08974.5 33,02722,45647.1 Per share – diluted ($)0.190.1172.7 0.450.2955.2 Adjusted Net income(5)21,05416,71026.0 50,87445,81311.0 Per share – diluted ($)(5)0.290.2231.8 0.690.6015.0 Cash flow from operating activities16,33328,833(43.4)79,73274,0837.6 Adjusted free cash flow(3)19,64521,033(6.6)60,55160,3760.3 Recurring Commercial Music revenues include subscriptions and usage in addition to fixed fees charged to our customers on a monthly, quarterly and annual basis for continuous music services and excludes credits to clients related to the COVID-19 pandemic. Chart of the Stingray Group Inc is a music, and technology company revenues in other countries $! 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