Stingray Group, a leading music, media, and technology company, recently reported its Non-GAAP EPS (earnings per share) of $0.21 for the fiscal year 2021. The company also introduced its FY24 guidance, which includes a revenue target of $500 million and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) margin of 25%.
Stingray Group’s Non-GAAP EPS of $0.21 is a significant improvement from the previous year’s Non-GAAP EPS of $0.08. The company’s revenue for the fiscal year 2021 was $222.3 million, which is a 6.5% increase from the previous year’s revenue of $208.7 million. The company’s adjusted EBITDA for the fiscal year 2021 was $51.2 million, which is a 22.9% increase from the previous year’s adjusted EBITDA of $41.6 million.
Stingray Group’s CEO, Eric Boyko, stated that the company’s strong financial performance is a result of its strategic investments in technology and content. The company has been expanding its presence in the digital music market by acquiring new businesses and partnerships. In 2020, Stingray Group acquired Music Choice International, a leading provider of music video programming to cable and satellite providers in the United States.
Stingray Group’s FY24 guidance includes a revenue target of $500 million, which is more than double the company’s current revenue. The company plans to achieve this target by expanding its presence in the digital music market and increasing its partnerships with cable and satellite providers. The company also plans to increase its adjusted EBITDA margin to 25%, which is a significant improvement from the current adjusted EBITDA margin of 23%.
Stingray Group’s strong financial performance and ambitious growth plans have attracted the attention of investors. The company’s stock price has increased by more than 50% in the past year, and analysts are optimistic about its future prospects. The company’s focus on technology and content, combined with its strong financial position, makes it a promising investment opportunity for those looking to invest in the digital music market.
In conclusion, Stingray Group’s Non-GAAP EPS of $0.21 and FY24 guidance demonstrate the company’s strong financial performance and ambitious growth plans. The company’s strategic investments in technology and content have positioned it as a leading player in the digital music market, and its partnerships with cable and satellite providers have helped it expand its reach. With a revenue target of $500 million and an adjusted EBITDA margin of 25%, Stingray Group is poised for continued success in the years to come.
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- Source: Plato Data Intelligence.