Reservoir Media Q2 FY2024 revenue up 15% to $38.4M; raises full-year guidance

Reservoir Media, Inc.

2024-Q2 EPS reported $0.01 revenue$70,233,886

Adjusted EBITDA rose 24% YoY to $15.9M; operating income was $6.1M, down slightly from $6.6M.
Net income fell to $0.7M ($0.01 per share) from $4.5M ($0.07), hit by $2.7M write-off of recoupable legal fees.
Recorded Music revenue grew 22% to $10.8M; Music Publishing revenue up 8% to $25.9M.
FY2024 guidance raised: revenue $133-137M (10% growth at mid-point), Adjusted EBITDA $50-52M (10% growth).
Total liquidity $132.8M including $20.6M cash; net debt $311.6M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Reservoir Media, Inc. reported the second fiscal quarter of 2024 ended September 30, 2023 results: revenue $38.4 million, net income $0.7 million, or $0.01 per share, EPS $0.01 per share. Guidance raised.

Period: the second fiscal quarter of 2024 ended September 30, 2023
Revenue: $38.4 million
Net income: $0.7 million, or $0.01 per share
EPS: $0.01 per share
Guidance: raised
Result: reported results

Exact text from the filing

an award-winning independent music company, today announced financial results for the second fiscal quarter of 2024 ended September 30, 2023. Recent Highlights: · Revenue of $38.4 million, increased 10% organically, or 15% including acquisitions year-over-year o Music Publishing revenue rose 8% year-over-year o Recorded Music revenue increased by 22%

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Source: SEC EDGAR

accession 0001104659-23-115019

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