News Summary:
On June 23, 2026, Stingray Business expanded its partnership with National Bank of Canada, securing a five-year contract renewal through 2031. The agreement ensures Stingray Business will continue providing background music solutions while also taking over the bank’s in-branch digital signage operations. Previously, on June 22, 2026, Stingray Group Inc. announced a delay in filing its audited consolidated financial statements for the year ended March 31, 2026, and related documents, which were due by June 29, 2026, and applied for a voluntary management cease trade order. Earlier in June, following its Q4 2026 earnings call, Stingray reported a 21.9% increase in revenues and a 12.6% rise in adjusted EBITDA for fiscal 2026, attributed to the TuneIn acquisition and growth in its Fast Channel segment. The company noted strong organic sales growth, with early indications for Q1 2027 showing sales significantly above 20%. However, revenues in Canada decreased by 5.5% in Q4 2026 due to softer radio airtime sales. The company anticipates a 12-14% standalone growth rate, driven by audio ads on connected TVs and TuneIn synergies, and is shifting towards managed services to improve EBITDA margins, integrating programmatic advertising into retail media. Stingray aims to reduce its leverage ratio to below two times EBITDA by December and projects strong free cash flow.
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