Stingray Reports First Quarter Results for Fiscal 2024
Reporting on first quarter results, Stingray's President, co-founder and CEO Eric Boyko stated:
- Reporting on first quarter results, Stingray's President, co-founder and CEO Eric Boyko stated:
“In the first quarter of 2024, we delivered robust adjusted EBITDA of $28.3 million, representing 35.8% of sales, thanks to cost-saving initiatives implemented over the past year. - Revenues increased $0.9 million, or 1.1%, to $79.0 million in Q1 2024 from $78.1 million in Q1 2023.
- Revenues in Other countries improved $0.2 million, or 2.1%, to $12.6 million in Q1 2024 from $12.4 million in Q1 2023.
- On June 28, 2023, the Corporation announced the launch of free ad-supported TV channels (FAST channels) Stingray Music, Stingray Naturescape, Qello Concerts, Stingray Karaoke, Stingray Classica, Stingray DJAZZ and Stingray CMusic on VIDAA, the leading smart TV OS powering Hisense, Toshiba, and other leading regional OEM brands.