Business
Reservoir Media Announces Third Quarter Fiscal 2025 Results
Strong Results in Both Segments Grew Total Revenue by 19% Including AcquisitionsKey Catalog Additions and Disciplined Cost Controls Drive Margin GrowthRaises
About this update from Reservoir Media, Inc..
[{"type":"text","content":"Strong Results in Both Segments Grew Total Revenue by 19% Including AcquisitionsKey Catalog Additions and Disciplined Cost Controls Drive Margin GrowthRaises Fiscal 2025 Financial Outlook NEW YORK, NY / ACCESS Newswire / February 5, 2025 / Reservoir Media, Inc. (NASDAQ:RSVR) (\"Reservoir\" or the \"Company\"), an award-winning independent music company, today announced financial results for the third quarter of fiscal 2025 ended December 31, 2024.Recent Highlights:Revenue of $42.3 million, increased 16% organically, or 19% including acquisitions year-over-yearMusic Publishing revenue rose 16% year-over-yearRecorded Music revenue rose by 20% year-over-yearOperating Income of $9.6 million, increased by $3.0 million year-over-yearOIBDA (\"Operating Income Before Depreciation & Amortization\") of $16.3 million, an increase of 26% year-over-yearNet Income of $5.3 million, or $0.08 per share, compared to a net loss of ($2.9) million, or ($0.05) per shareAdjusted EBITDA of $17.3 million, up 26% year-over-yearAcquired the publishing catalog of Lastrada Entertainment, which includes multiple chart-topping and Grammy Award-winning titles from the 1960s to todayExpanded relationship with producer and songwriter Serban Cazan to continue representing his entire catalog and future works, including record-breaking hit collaboration \"Mantra\" by JennieSigned publishing catalog deal with composer Lebohang Morake, professionally known as Lebo M, who is best known for his work on The Lion King franchiseManagement Commentary:\"Our third fiscal quarter marks another strong period of growth across both the top and bottom lines of our business. With our team's expertise and strong relationships across the industry, Reservoir consistently ushers in accretive opportunities that further shape our catalog and roster of talent into a diverse and valuable portfolio,\" said Golnar Khosrowshahi, Founder and Chief Executive Officer of Reservoir Media. \"We continue to maximize the impact these deals have on our business with our prudent cost management and value-additive practices, and we look forward to sharing our continued M&A momentum through the end of our fiscal year and beyond.\"Third Quarter Fiscal 2025 Financial ResultsSummary Financials Q3 FY25 Q3 FY24 Change Total Revenue $42.3 $35.5 19% Music Publishing Revenue $26.9 $23.1 16% Recorded Music Reven...