Reservoir Media Q3 revenue $29.9M (+16% YoY); raises FY2023 guidance midpoints

Reservoir Media, Inc.

2022-Q3 EPS reported -$0.07 revenue$87,475,894

Revenue $29.9M up 16% YoY (7% organic); Music Publishing +14%, Recorded Music +1%.
Adjusted EBITDA $10.9M (+24% YoY); OIBDA $10.1M (+33%) on higher revenue and operating leverage.
Net loss $4.1M ($0.07/share) vs net income $1.4M ($0.02) a year ago; one-time tax and debt extinguishment charges.
Raised FY2023 outlook: revenue $120-122M (midpoint +12% YoY), Adj. EBITDA $46-47M (+13% YoY).
Signed publishing deals with Dion, De La Soul digital launch, and amended credit facility for improved terms.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reservoir Media, Inc. reported the third fiscal quarter of 2023 ended December 31, 2022 results: revenue $29.9 million, net income $4.1 million, or ($0.07) per share. Guidance raised.

Period: the third fiscal quarter of 2023 ended December 31, 2022
Revenue: $29.9 million
Net income: $4.1 million, or ($0.07) per share
Guidance: raised
Result: reported results

Exact text from the filing

an award-winning independent music company, today announced financial results for the third fiscal quarter of 2023 ended December 31, 2022. Recent Highlights: · Revenue of $29.9 million, increased 7% organically, or 16% including acquisitions year-over-year o Music Publishing revenue increased 14% year-over-year o Recorded Music revenue increased by 1%

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Source: SEC EDGAR

accession 0001104659-23-012169

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