TORONTO — It was a fiscal first quarter of 2027 full of milestones, including a OrkaTV partnership bringing 12 audio and 5 video channels to U.S. audiences; a “20/20 True Crime” channel on its TuneIn audio streaming app in partnership with ABC News; and the July 27 closing of its purchase of Adult Hits CHUP “UP 97.7” in Calgary from Rawlco Radio Ltd.
Of those positives for Stingray Group Inc., the Canadian company’s purchase of TuneIn may be its strongest, given the financial results it just posted.
For the three-month period ending June 30, revenue climbed to $158.02 million CDN, from $95.64 million CDN.
That said, expenses were also up sharply in the fiscal first quarter of 2027, jumping to $111.41 million CDN from $65.84 million CDN. Total it up, and net income shrank to $6.59 million CDN from $16.78 million CDN.
On an adjusted basis however, net income rose to $27.95 million CDN ($0.40 CDN per diluted share), from $21.31 million CDN ($0.31 CDN).
By segment, the Stingray story is clear: While broadcast radio remains important and its CHBM “Boom 97.3” in Toronto remains one of Canada’s most listened-to radio stations, the Broadcasting and Commercial Music division — active in both the U.S. and Canada on the B2B and B2C level — is the Loonie and Twonie driver for Stingray.
In fiscal Q1, BCM revenue increased to $126.01 million CDN, from $61.42 million CDN.
This activity includes Stingray Music channels available to Hotwire Communications cable television service subscribers, and karaoke and music apps imbedded in Telly-enabled smart televisions.
“We remain confident that our TuneIn and FAST channel businesses will contribute to another year of double-digit organic revenue growth in 2027,” Stingray CEO Eric Boyko said.
Radio revenue declined to $32 million CDN, from $34.22 million CDN. With operating expenses trimmed to $22.91 million CDN, adjusted EBITDA declined by 15%.
Radio revenues decreased, Stingray said, due to lower local and national airtime sales, which were partially offset by growth in digital sales.
Boyko said radio revenue was adversely affected by “reduced sports betting and government ads year-over-year,” but showed signs of recovery early in the second quarter. “We expect Radio sales to remain relatively stable in fiscal 2027,” he said.
Stingray, which trades on the TSX as “RAY,” has enjoyed a particularly strong 2026 with respect to its stock valuation. Since one year ago, “RAY” is up by 63.2% in value, and is trading at $15.40 CDN as of 2pm Eastern on Monday.
