RSVR

Reservoir Media, Inc. (RSVR) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to a loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +100.00%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.07, delivering a surprise of +40%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Reservoir Media, which belongs to the Zacks Media Conglomerates industry, posted revenues of $41.48 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.05%. This compares to year-ago revenues of $37.16 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Reservoir Media shares have added about 34.4% since the beginning of the year versus the S&P 500's gain of 11%. While Reservoir Media has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Reservoir Media was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.05 on $48.54 million in revenues for the coming quarter and $0.13 on $188.01 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Media Conglomerates is currently in the bottom 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Atlanta Braves Holdings, Inc. (BATRA), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of -8.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Atlanta Braves Holdings, Inc.'s revenues are expected to be $316.2 million, up 1.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Reservoir Media, Inc. (RSVR) : Free Stock Analysis Report Atlanta Braves Holdings, Inc. (BATRA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: $41.5 million, a 12% increase year-over-year, including 6% organic growth. Music Publishing Revenue: $26.5 million, a 6% increase year-over-year. Recorded Music Revenue: $14.1 million, a 35% increase year-over-year. Digital Revenue (Music Publishing): Increased 7% year-over-year. Performance Revenue (Music Publishing): Expanded 17% year-over-year. Digital Revenue (Recorded Music): Increased 23% year-over-year. OIBDA: $13.7 million, an increase of 7% year-over-year. Adjusted EBITDA: $15.7 million, up 13% year-over-year. Net Loss: Approximately $508,000, compared to a net loss of $644,000 in the prior year quarter. Diluted EPS: Break-even, up from a diluted loss per share of $0.01 in the prior year quarter. Interest Expense: $6.9 million for the quarter, versus $6.3 million in the prior year. Cash Used in Operating Activities: $1.4 million, a decrease of $7.4 million compared to the year-ago quarter. Total Debt: $462.2 million, net of $2.7 million of deferred financing costs. Net Debt: $448.5 million, compared to $429.8 million as of March 31, 2026. Total Available Liquidity: $98.9 million, consisting of $13.7 million of cash on hand and $85.2 million available under the revolver. Full Year Revenue Guidance: Maintained at $186 million to $191 million. Full Year Adjusted EBITDA Guidance: Maintained at $75 million to $79 million. Warning! GuruFocus has detected 6 Warning Signs with RSVR. Is RSVR fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Reservoir Media Inc (NASDAQ:RSVR) reported a 12% total revenue growth, including 6% organic growth, driven by strong performance in both music publishing and recorded music segments. The recorded music segment saw a significant 35% revenue increase, supported by a 23% rise in digital revenue and robust synchronization revenue. The company expanded its Latin music presence through strategic partnerships with Two Publishing and Nacional Records, positioning itself in one of the fastest-growing global music markets. Reservoir Media Inc (NASDAQ:RSVR) continued to strengthen its creative roster with high-profile signings, including hip-hop icon T.I. and other emerging talent, enhancing its catalog's long-term value. The company maintained its full-year guidance for revenue and adjusted EBITDA, reflecting confidence in its strategy and ability to deliver sustainable growth. Adjusted EBITDA increased 13% year-over-year to $15.7 million, demonstrating improved operational efficiency and profitability. Net loss for the quarter was approximately $508,000, though improved from a loss of $644,000 in the prior year, indicating ongoing profitability challenges. Cash used in operating activities was $1.4 million, a decrease of $7.4 million year-over-year, due to timing of royalty payments and lower recoupment of advances. Interest expense increased to $6.9 million from $6.3 million, driven by higher debt balances used to fund acquisitions, which could pressure future cash flows. Administration expenses grew 16% year-over-year, with Q1 overhead elevated, potentially impacting near-term margins. The company faces uncertainty from unsolicited acquisition proposals, with no additional updates provided, creating potential distraction and strategic ambiguity. Declines in sync, mechanical, and other revenue categories within music publishing partially offset growth, indicating some segment volatility. Q: On the recorded music side, the growth is much faster than publishing. Is that due to an underlying shift in return on investments, or is it more about opportunistic deal flow that could swing back and forth?A: Jim Heindlmeyer (CFO): The growth reflects the impact of recent acquisitions on the recorded music side, which is great to see. We also had an outsized impact from sync revenue this quarter, which is not linear throughout the year. Generally, we are seeing healthy growth with our catalog on the recorded side, as well as great acquisitions starting to roll into the results. Q: On operating cash flow, you attributed the outflow to the timing of royalty payments and advance recoupment. Are you seeing structurally longer payment cycles, or is this short-term and expected to reverse? Also, is there any change in the performance of the underlying writers you're making advances to?A: Jim Heindlmeyer (CFO): On the advance side, we had slightly higher outgoing advances this year relative to last year, which impacts cash flows. On recoupment, we are not seeing any real shift; it just so happens that this quarter we had lower recoupment versus the prior year. There were some specifics that fell into that, but nothing that changes our outlook on advances. Q: How should we think about organic growth for digital revenue? Does it carry a similar growth rate to the overall business, call it mid-single-digits?A: Jim Heindlmeyer (CFO): Yes, we certainly look at digital and expect that kind of mid-single-digit organic growth. There are certainly one-off items that can impact that, but that is the range we look at for that category. Q: On sync, we saw a huge spike in recorded music, which is the third quarter in the past four where that revenue has been elevated. Are these one or two very large deals, or are you getting more successful at marketing your catalog for sync opportunities?A: Jim Heindlmeyer (CFO): Our sync team does a great job of maximizing the value of our catalog, and we have had a number of great opportunities come our way in the last handful of quarters. There were a couple of large syncs closed during the quarter, but generally it's a testament to our sync team and the work they do to maximize the value from the catalog. Q: You talked about several new partnerships. What types of resources do you bring to those? Are there upfront investments to launch them, or are the people and artists bringing most of that to the table?A: Golnar Khosrowshahi (CEO): Each of those deals varies as far as what we bring to the table. In some cases, we are acquiring catalog; in others, we are applying existing overhead and committing resources to new partnerships. We likely have structures where we are committing to new signings and additions to the roster. The intent is to partner with people who are extremely knowledgeable in their verticals and bring operational synergies to expand the business. Q: Administrative expenses stepped up a bit in the quarter. Is any of that pulled forward from the back end of the year, or is it a new level we should look at?A: Jim Heindlmeyer (CFO): Q1 overhead certainly has some things in there that have elevated the run rate for that quarter. I don't think you should look at Q1 and take that as the baseline for the next three quarters. Q1 is a bit elevated for us. Q: Can you talk about seasonality and the swings within revenue segments? Should we use past years as a model, or is there anything unusual this year?A: Jim Heindlmeyer (CFO): While we do our best with accruals to reflect revenue properly by quarter, we still have payment cycle impacts that lead to seasonality, where you might see slightly elevated revenue in Q2 and Q4 versus Q1 and Q3. You can look at prior years and model based on that type of cadence as we move through this year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved 12% total revenue growth, driven by a combination of 6% organic expansion and contributions from recent catalog acquisitions. Prioritized the Latin American market as a core strategic pillar, citing its status as the world's fastest-growing region with 17.1% revenue growth in 2025. Executed a dual-track strategy in Latin music by partnering with TU Publishing for talent development and acquiring Nacional Records to secure established catalog assets. Strengthened Recorded Music capabilities through the 'Some Action' venture in the U.K., aimed at enhancing frontline A&R and artist development synergies. Attributed Publishing performance to a mix of active roster success, streaming service price increases, and subscriber growth in international investment markets. Maintained a relationship-driven investment approach, focusing on joint ventures that provide access to local expertise while leveraging Reservoir's global operational infrastructure. Confirmed the ongoing evaluation of unsolicited acquisition proposals by a special committee of independent directors, though no definitive updates were provided. Reiterated full-year revenue guidance of $186 million to $191 million, representing approximately 7% growth at the midpoint. Maintained adjusted EBITDA guidance of $75 million to $79 million, assuming a 5% year-over-year increase. Anticipates digital revenue will continue to grow at a mid-single-digit organic rate, supported by broader industry streaming trends. Expects seasonal revenue fluctuations to persist, with historically higher performance typically realized in the second and fourth fiscal quarters. Guidance assumes continued successful integration of recent acquisitions and the maintenance of financial discipline amid an active investment pipeline. Recorded Music segment outperformed with 35% growth, significantly aided by robust synchronization revenue and specific release timing. Interest expense rose to $6.9 million due to higher debt balances utilized to fund catalog acquisitions and writer signings. Operating cash flow saw a $7.4 million decrease compared to the prior year, primarily attributed to the timing of royalty payments and lower recoupment of advances. Administrative expenses were elevated in Q1 due to segment-specific costs, though management indicated this may not represent a permanent baseline for the remainder of the year. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that the cash outflow was driven by higher outgoing advances and the specific timing of royalty cycles rather than structural changes. Confirmed there has been no fundamental shift in the underlying performance or recruitment outlook for the writers receiving advances. Attributed the 35% segment growth to recent acquisitions and a few large, non-linear synchronization deals closed during the quarter. Emphasized that while Sync revenue can be lumpy, the results reflect the team's increased success in marketing the existing catalog. Explained that partnership structures vary, with some involving direct catalog acquisition and others focusing on applying Reservoir's overhead to new signings. The strategic goal is to pair Reservoir's operational synergies with partners who are experts in specific musical or regional verticals.

Interested in Reservoir Media, Inc.? Here are five stocks we like better. Reservoir Media reported solid fiscal Q1 growth: Revenue rose 12% year over year to $41.5 million, with recorded music revenue up 35% and publishing revenue up 6%. Adjusted EBITDA increased 13% to $15.7 million, while the net loss narrowed to approximately $508,000. The company expanded its growth strategy through Latin music partnerships, catalog acquisitions and artist-development ventures, including deals involving Nacional Records, TU Publishing, Some Action and T.I. Reservoir reaffirmed fiscal 2027 guidance for revenue of $186 million–$191 million and adjusted EBITDA of $75 million–$79 million. The company ended the quarter with $98.9 million in available liquidity, while its board continues reviewing unsolicited acquisition proposals. Reservoir Media (NASDAQ:RSVR) opened fiscal 2027 with revenue growth across its music publishing and recorded music operations, while reaffirming its full-year financial outlook and highlighting new investments in Latin music, artist development and catalog acquisitions. For the fiscal first quarter ended June 30, 2026, Reservoir reported revenue of $41.5 million, up 12% from the prior-year period including acquisitions and 6% on an organic basis. Founder and CEO Golnar Khosrowshahi said demand remained healthy across both major business segments, supported by recent acquisitions, streaming-service price increases, subscriber growth in international markets and activity from the company’s roster. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control “Our first quarter results reflect the continued execution of our long-term strategy,” Khosrowshahi said, pointing to efforts to expand the catalog, invest in creative talent, grow recorded music operations and increase exposure to higher-growth markets. Recorded music revenue increased 35% year over year to $14.1 million. Chief Financial Officer Jim Heindlmeyer said the increase reflected a 23% gain in digital revenue, contributions from acquired catalogs, continued streaming growth, synchronization revenue and higher physical revenue associated with the timing of releases. → Financials Hit Record Highs as the AI Trade Unravels—Can They Keep Leading? Music publishing revenue rose 6% to $26.5 million. The segment’s digital revenue grew 7%, while performance revenue increased 17%, aided by hit songs. Those gains were partly offset by declines in synchronization, mechanical and other revenue categories within publishing. Heindlmeyer said the recorded music segment benefited from recent acquisitions and unusually strong synchronization activity during the quarter. He noted that synchronization revenue is not linear throughout the year and said the company closed “a couple of large syncs” in the period. → Why Rare Earth Processing Could Be the Real 2027 Opportunity On digital revenue, Heindlmeyer said Reservoir generally expects organic growth in the mid-single-digit range, though individual periods can be affected by one-time items. Operating income before depreciation and amortization, or OIBDA, increased 7% year over year to $13.7 million. Adjusted EBITDA rose 13% to $15.7 million. The company attributed the gains to higher revenue, partially offset by increased administrative expenses. First-quarter net loss narrowed to approximately $508,000, compared with a loss of $644,000 a year earlier. Reservoir reported break-even diluted earnings per share, improving from a diluted loss of $0.01 per share in the prior-year quarter. Interest expense increased to $6.9 million from $6.3 million, primarily due to higher debt balances used to fund catalog acquisitions and writer signings. Cash used in operating activities was $1.4 million, a $7.4 million improvement from the prior-year quarter. Heindlmeyer said the result reflected the timing of royalty payments and recoupment of royalty advances. During the question-and-answer session, he said the company had made somewhat higher outgoing advances than in the prior year, while lower recoupment in the quarter did not represent a meaningful change in Reservoir’s outlook for advances. Reservoir ended the quarter with $13.7 million in cash and $85.2 million available under its revolving credit facility, for total available liquidity of $98.9 million. Total debt was $462.2 million, net of $2.7 million in deferred financing costs, resulting in net debt of $448.5 million, compared with $429.8 million as of March 31, 2026. Administrative expenses rose 16% year over year, while amortization and depreciation expenses increased 13%. Heindlmeyer said first-quarter overhead included items that elevated the quarterly run rate and should not be viewed as the baseline for the remaining quarters of fiscal 2027. Reservoir outlined several transactions intended to build its position in Latin music. In June, the company announced a joint venture with TU Publishing, under which Reservoir will publish current and future writers signed to TU Publishing. The partners also plan to co-sponsor songwriting camps for artists, songwriters and producers serving the global Latin audience. The company also acquired the catalogs of independent Latin label Nacional Records and its publishing arm, Canciones Nacionales, while entering a joint venture to sign and develop recording artists and songwriters. Khosrowshahi said the arrangements combine established catalogs with creative platforms focused on discovering and developing talent. “We believe that Latin music is not a regional story, but a global one,” Khosrowshahi said. In recorded music, Reservoir completed a venture with U.K. A&R executive Ollie Hodge to bring his label, Some Action, to Reservoir. The label has signed artists McGrath, JP O’Grady and L Devine, and its team is based in Reservoir and Chrysalis Records’ London office. Reservoir also announced a publishing partnership with hip-hop artist T.I. covering his catalog and future works, including his album Kill the King. Additional publishing signings included songwriter and producer Adam Kapit, U.K. producer and multi-instrumentalist Fretworm, and singer-songwriter Jarrett Doherty. The Doherty agreement also launched a joint venture with Tinman, a publishing company founded by Reservoir writer Sam Tinnesz. Reservoir maintained its fiscal 2027 guidance for revenue of $186 million to $191 million and adjusted EBITDA of $75 million to $79 million. At the midpoint, the outlook implies revenue growth of 7% and adjusted EBITDA growth of 5% over fiscal 2026. Heindlmeyer said the company expects revenue seasonality to resemble prior years, with payment-cycle effects tending to result in relatively higher revenue in the second and fourth fiscal quarters than in the first and third quarters. Khosrowshahi also addressed previously disclosed non-binding and unsolicited acquisition proposals. She said Reservoir’s board formed a special committee of independent and disinterested directors in March 2026 to evaluate the proposals. The committee engaged Morgan Stanley & Co. LLC as financial adviser and Wachtell, Lipton, Rosen & Katz as legal counsel. The company said it had no further update to provide. Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles. The company operates two primary segments: music publishing and recorded music. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Reservoir Media Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

12% Top-Line Growth Driven by 6% Publishing and 35% Recorded Music Growth NEW YORK, Aug. 4, 2026 /PRNewswire/ -- Reservoir Media, Inc. (NASDAQ: RSVR) ("Reservoir" or the "Company"), an award-winning independent music company, today announced financial results for the first quarter of fiscal 2027 ended June 30, 2026. Recent Highlights: Revenue of $41.5 million, increased 6% organically, or 12% including acquisitions year-over-year Operating Income of $5.4 million, decreased 1% year-over-year OIBDA ("Operating Income Before Depreciation & Amortization") of $13.7 million, an increase of 7% year-over-year Net Loss of ($0.5) million, or $0.00 per share, compared to a net loss of ($0.6) million, or ($0.01) per share in the year-ago period Adjusted EBITDA of $15.7 million, up 13% year-over-year Invested in two new complementary strategic partnerships in Latin music: Partnered with U.K. A&R Executive Ollie Hodge to bring his independent label, Some Action, under Reservoir's label operations via a new joint venture Announced a publishing deal with Grammy Award-winning and multi-Platinum-selling hip-hop icon T.I. that spans his entire publishing catalog and future works Welcomed multi-Platinum global pop songwriter-producer Adam Kapit and alt-pop/rock artist Jarrett Doherty, frontman of Jady, to the roster Management Commentary: "We delivered a strong first quarter of fiscal 2027, with robust performance across both our Publishing and Recorded Music segments, underscoring the strength of our portfolio and the continued success of our strategy," said Golnar Khosrowshahi, Founder and Chief Executive Officer of Reservoir Media. "Whether signing marquee talent such as T.I., expanding our recorded music business with key frontline partners like Some Action, or establishing a stronger foothold in high-growth markets like Latin music, we have demonstrated a commitment to diversifying our business while ensuring we identify partners that share our long-term vision and dedication to creative stewardship. We are encouraged by our recent momentum and remain confident in our ability to execute on attractive opportunities, deepen our global platform, and unlock new value for the remainder of fiscal 2027." First Quarter Fiscal 2027 Financial Results Total revenue in the first quarter of fiscal 2027 increased 12% to $41.5 million, compared to $37.2 million in the first quarter of fiscal 2026. This increase was driven by a 6% increase in Music Publishing revenue, largely attributable to strong digital and performance revenue, and a 35% increase in Recorded Music revenue, largely attributable to continued growth of digital revenue, as well as synchronization revenue driven by the timing of licenses. Operating income in the first quarter of fiscal 2027 was $5.4 million compared to operating income of $5.4 million in the first quarter of fiscal 2026. OIBDA in the first quarter of fiscal 2027 increased 7% to $13.7 million, compared to $12.8 million in the prior year's quarter. Adjusted EBITDA in the first quarter of fiscal 2027 increased 13% to $15.7 million, compared to $13.9 million last year, primarily as a result of an increase of total revenue. See below for calculations and reconciliations of OIBDA and Adjusted EBITDA to operating income and net loss, respectively. Net loss in the first quarter of fiscal 2027 was ($0.5) million, or $0.00 per share, compared to net loss of ($0.6) million, or ($0.01) per share, in the year-ago quarter. The decrease in net loss was primarily driven by the gain on fair value of swaps, partially offset by the loss on foreign exchange and an increase in interest expense. First Quarter Fiscal 2027 Segment Review Music Publishing Revenue in the first quarter of fiscal 2027 was $26.5 million, an increase of 6% compared to $24.9 million in last year's first quarter. The increase was mainly driven by an increase in digital revenue, primarily due to the acquisition of additional music catalogs and continued growth at music streaming services and an increase in performance revenue driven by hit songs. In the first quarter of fiscal 2027, Music Publishing OIBDA increased 3% to $7.8 million, compared to $7.6 million in the first quarter of fiscal 2026. Music Publishing OIBDA margin in the first quarter decreased from 30% to 29%. The increase in Music Publishing OIBDA primarily reflects an increase in revenues, partially offset by an increase in administration expenses, and the decrease in OIBDA Margin reflects an increase in administration expenses as percentages of revenues, partially offset by a decrease in cost of revenue as a percentage of revenue. Recorded Music Revenue in the first quarter of fiscal 2027 was $14.1 million, an increase of 35% compared to $10.4 million in last year's first quarter. The increase was driven by an increase in digital revenue, primarily due to the acquisition of additional music catalogs and continued growth at music streaming services, an increase in synchronization revenue driven by the timing of licenses, and an increase in physical due to timing of release schedules. In the first quarter of fiscal 2027, Recorded Music OIBDA increased 26%, to $6.1 million, compared to $4.9 million in the first quarter of fiscal 2026. Recorded Music OIBDA margin in the first quarter decreased from 46% to 43%. The increase in OIBDA primarily reflects an increase in revenues, while the decrease in OIBDA margin primarily reflects an increase in cost of revenue as a percentage of revenues, partially offset by a decrease in administration expenses as a percentage of revenues. Balance Sheet and Liquidity For the three months ended June 30, 2026, cash used in operating activities was ($1.4) million, a decrease of $7.4 million compared to the same period last year, primarily due to the timing of royalty payments and the recoupment of royalty advances. As of June 30, 2026, Reservoir had cash and cash equivalents of $13.7 million and $85.2 million available for borrowing under its revolving credit facility, for total available liquidity of $98.9 million. Total debt was $462.2 million (net of $2.7 million of deferred financing costs) and Net Debt was $448.5 million (defined as total debt, less cash and equivalents and deferred financing costs). This compares to cash and cash equivalents of $25.9 million and $91.2 million available for borrowing under its revolving credit facility, for total available liquidity of $117.1 million as of March 31, 2026. Total debt was $455.7 million (net of $3.1 million of deferred financing costs) and Net Debt was $429.8 million as of March 31, 2026. Fiscal Year 2027 Outlook Reservoir reiterates its previously provided financial outlook range for fiscal year 2027, and expects the financial results for the year ending March 31, 2027, to be as follows: Jim Heindlmeyer, Chief Financial Officer of Reservoir, said, "Our strong first quarter performance was in line with our expectations, driven by top-line growth and disciplined cost containment, and provides a solid foundation for the remainder of fiscal 2027. Our healthy cash flow generation and balance sheet flexibility continues to support strategic investments in new creators, notably in high-growth emerging markets, while maintaining a position of financial strength. We remain on track to achieve our previously issued revenue and adjusted EBITDA guidance for fiscal year 2027." Conference Call Information Reservoir is hosting a conference call for analysts and investors to discuss its financial results for the first quarter for fiscal year ending March 31, 2027 at 10:00 a.m. EDT today, August 4, 2026. The conference call can be accessed via webcast in the Investor Relations section of the Company's website at https://investors.reservoir-media.com/news-and-events/events-and-presentations. Interested parties may also participate in the call using the following registration link: Here. Once registered, participants will receive a dial-in number as well as a PIN to enter the event. Participants may re-register for the conference call in the event of a lost dial-in number or PIN. Shortly after the conclusion of the conference call, a replay of the audio webcast will be available in the investor relations section of Reservoir's website for 30 days after the event. About Reservoir Media, Inc. Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, Abu Dhabi, Mumbai, and Cairo. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir represents copyrights and master recordings including titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir frequently holds a Top 10 U.S. Market Share according to Billboard's Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide's The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards. Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Music, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. Forward-looking statements are typically identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "should," "target," "would" and other similar words and expressions. Forward-looking statements in this press release relate to, among other things: Reservoir's anticipated financial condition, results of operations and performance, expected growth, plans and objectives for future operations, business prospects and market conditions. Forward-looking statements are based on the current expectations and beliefs of management and information currently available to management. These statements are inherently subject to a number of risks, uncertainties and assumptions, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this press release, including the risk factors that are described in Reservoir's Annual Report on Form 10-K for the year ended March 31, 2026 and our other filings with the SEC available on the SEC's website at www.sec.gov or Reservoir's website at www.reservoir-media.com. Any forward-looking statement made in this press release speaks only as of the date on which it is made and Reservoir undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Supplemental Disclosures Regarding Non-GAAP Financial Measures This press release includes certain financial information, such as OIBDA, OIBDA margin, EBITDA, Adjusted EBITDA, and Net Debt, which has not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Reservoir's management uses these non-GAAP financial measures to evaluate Reservoir's operations, measure its performance and make strategic decisions. Reservoir believes that the use of these non-GAAP financial measures provides useful information to investors and others in understanding Reservoir's results of operations and trends in the same manner as Reservoir's management and in evaluating Reservoir's financial measures as compared to the financial measures of other similar companies, many of which present similar non-GAAP financial measures. However, these non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by Reservoir's management about which items are excluded or included in determining these non-GAAP financial measures and, therefore, should not be considered as a substitute for net income, operating income or any other operating performance measures calculated in accordance with GAAP. Using such non-GAAP financial measures in isolation to analyze Reservoir's business would have material limitations because the calculations are based on the subjective determination of Reservoir's management regarding the nature and classification of events and circumstances. In addition, although other companies in Reservoir's industry may report measures titled OIBDA, OIBDA margin, Adjusted EBITDA, and Net Debt, or similar measures, such non-GAAP financial measures may be calculated differently from how Reservoir calculates such non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, such non-GAAP financial measures should be considered alongside other financial performance measures and other financial results presented in accordance with GAAP. You can find the reconciliation of these non‐GAAP financial measures to the nearest comparable GAAP measures in the tables below. OIBDA Reservoir evaluates operating performance based on several factors, including its primary financial measure of operating income before non-cash depreciation of tangible assets and non-cash amortization of intangible assets ("OIBDA"). Reservoir considers OIBDA to be an important indicator of the operational strengths and performance of its businesses and believes this non-GAAP financial measure provides useful information to investors because it removes the significant impact of amortization from Reservoir's results of operations. However, a limitation of the use of OIBDA as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in Reservoir's businesses and other non-operating income (loss). Accordingly, OIBDA should be considered in addition to, not as a substitute for, operating income, net income (loss) attributable to us and other measures of financial performance reported in accordance with GAAP. In addition, our definition of OIBDA may differ from similarly titled measures used by other companies. OIBDA Margin is defined as OIBDA as a percentage of revenue. EBITDA and Adjusted EBITDA EBITDA is defined as earnings (net income or loss) before net interest expense, income tax (benefit) expense, non-cash depreciation of tangible assets and non-cash amortization of intangible assets and is used by management to measure operating performance of the business. Adjusted EBITDA, in addition to adjusting net income (loss) to exclude income tax expense, interest expense and depreciation and amortization, further adjusts net income (loss) by excluding items or expenses such as, among others, (1) any non-cash charges (including any impairment charges and loss on early extinguishment of debt and to write-down an equity investment to its estimated fair value), (2) any net gain or loss on foreign exchange, (3) any net gain or loss resulting from interest rate swaps, (4) equity-based compensation expense and (5) certain unusual or non-recurring items. Adjusted EBITDA is a key measure used by Reservoir's management to understand and evaluate operating performance, generate future operating plans, and make strategic decisions regarding the allocation of capital. However, certain limitations on the use of Adjusted EBITDA include, among others, (1) it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue for Reservoir's business, (2) it does not reflect the significant interest expense or cash requirements necessary to service interest or principal payments on Reservoir's indebtedness and (3) it does not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments. In particular, Adjusted EBITDA measure adds back certain non-cash, unusual or non-recurring charges that are deducted in calculating net income (loss); however, these are expenses that may recur, vary greatly and are difficult to predict. In addition, Adjusted EBITDA is not the same as net income (loss) or cash flow provided by operating activities as those terms are defined by GAAP and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. Net Debt Reservoir defines Net Debt as total debt, less cash and equivalents and deferred financing costs. Media ContactReservoir Media, Inc.Suzy ArrabitoVice President, Marketing & [email protected] Investor ContactAlpha IR GroupJackie Marcus or Nathan [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/reservoir-media-announces-first-quarter-fiscal-2027-results-302841363.html

NEW YORK, July 21, 2026 /PRNewswire/ -- Reservoir Media, Inc. (NASDAQ: RSVR) ("Reservoir" or the "Company"), an award-winning independent music company, today announced that it will release financial results for the first fiscal quarter of 2027 ended June 30, 2026, before market open on Tuesday, August 4, 2026. Reservoir will host a conference call to discuss its results at 10 a.m. Eastern Daylight Time on the same day. A live audio webcast of Reservoir's first quarter results discussion will be accessible under the Events and Presentations section of the Company's Investor Relations website at https://investors.reservoir-media.com/news-and-events/events-and-presentations. An archived version of the Company's webcast will also be available on Reservoir's website. Interested parties may also participate in the call using the registration link here. Once registered, participants will receive a webcast link to enter the event. Alternatively, participants may dial into the call using the following phone number: +1 201-389-0921 (Toll-free 877-407-0989). To access the call, please log in approximately 10 minutes before the start of the call. ABOUT RESERVOIR Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, Abu Dhabi, and Mumbai. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir represents copyrights and master recordings including titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir frequently holds a Top 10 U.S. Market Share according to Billboard's Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide's The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards. Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Music, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management. Media ContactReservoirSuzy ArrabitoVice President, Marketing & [email protected] Investor ContactAlpha IR GroupJackie Marcus or Nathan [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/reservoir-media-to-release-first-quarter-fiscal-year-2027-results-on-august-4-2026-302830069.html

Interested in Reservoir Media, Inc.? Here are five stocks we like better. Reservoir Media posted strong fiscal 2026 results, with revenue up 11% for the year and adjusted EBITDA up 12%. Fourth-quarter revenue climbed 15% to $47.5 million, boosted by gains in both recorded music and publishing. Digital, sync, and catalog acquisitions drove growth across the business. The company highlighted the Miles Davis catalog purchase, partnerships with major brands and media projects, and international expansion through moves like Pop India and the Viral Wave acquisition. Management issued fiscal 2027 guidance for revenue of $186 million to $191 million and adjusted EBITDA of $75 million to $79 million. Reservoir also said it has no new update on the unsolicited acquisition proposals currently being reviewed by a board special committee. Reservoir Media (NASDAQ:RSVR) reported double-digit revenue and adjusted EBITDA growth for fiscal 2026, as management pointed to catalog acquisitions, digital revenue gains and international expansion as key drivers of the music rights company’s performance. Founder and Chief Executive Officer Golnar Khosrowshahi said Reservoir generated 11% revenue growth for the year, including 6% organic growth, while adjusted EBITDA rose 12%. She said fiscal 2026 was a “milestone year” in which the company deployed approximately $120 million across acquisitions and advances for both publishing and recorded rights. → Rocket Lab Keeps Making Headlines and Highs—Here's What's Driving the Latest Move “These results reflect the continued success of our disciplined acquisition strategy, the strengths of our catalog, and the performance of our growing team around the world,” Khosrowshahi said. Chief Financial Officer Jim Heindlmeyer said fourth-quarter revenue was $47.5 million, up 15% from the same period a year earlier. Growth was led by a 27% increase in recorded music revenue and an 11% increase in music publishing revenue, including the impact of catalog acquisitions. → Quantum Stocks Just Got a Lifeline—Who Benefits Most? Fourth-quarter OIBDA increased 16% year over year to $19.9 million, while adjusted EBITDA rose 16% to $21.2 million. Heindlmeyer said the adjusted EBITDA increase was driven largely by top-line growth, particularly in the digital category across both segments, partly offset by higher administrative expenses. Net income for the quarter was $4.1 million, compared with $2.7 million in the prior-year quarter. Diluted earnings per share were $0.07, up from $0.04 a year earlier. → 5 Stocks Winning the AI Race While Everyone Watches NVIDIA For the full fiscal year, Reservoir reported revenue of $175.7 million, above the top end of its previously stated guidance range. Music publishing revenue grew 9% for the year, while recorded music revenue rose 16%. Adjusted EBITDA for fiscal 2026 increased 12% to $73.6 million, and OIBDA rose 12% to $69 million. Net income was $7.8 million, compared with $7.7 million in fiscal 2025. Diluted earnings per share were $0.13, compared with $0.12 in the prior year. In the fourth quarter, Reservoir’s music publishing segment generated $30.9 million in revenue. Digital publishing revenue rose 24% to $16.9 million, while synchronization revenue increased 6% to $5.8 million. Performance revenue declined 16% to $5.5 million, which Heindlmeyer attributed to category dynamics, while mechanical revenue increased 16% to $1.3 million. The recorded music segment generated $15.2 million in fourth-quarter revenue, up 27% year over year. Digital revenue in recorded music increased 17%, driven primarily by subscriber growth and price increases at digital service providers, while physical revenue rose 35%. Synchronization revenue increased 161%, which Heindlmeyer said reflected the timing of licenses, and neighboring rights revenue rose 18% to $1.4 million. Khosrowshahi said Reservoir’s sync business benefited from partnerships with brands including Anthropic, Volkswagen, Netflix, Lexus and Amazon, as well as placements in films and television projects such as “Hoppers,” “Happy Gilmore 2,” “The Fantastic Four: First Steps” and “Stranger Things.” She said sync revenue grew 5% in music publishing and 39% in recorded music for the year. Khosrowshahi said Reservoir expanded and diversified its catalog across genres, eras and geographies during the year. In September, the company acquired the catalog of Miles Davis and has launched a global centennial campaign tied to the music and culture figure’s legacy. The company also signed or extended relationships with contemporary and established creators, including Say She She, Allison Veltz Cruz, Sam Tinnesz, Benjamin Francis Leftwich, Britten Newbill, Joni Mitchell, Khris Riddick-Tynes, the estate of Nick Drake and composer Hans Zimmer. Reservoir also continued to expand its recorded music business through a deal with independent label Fool’s Gold Records that included catalog master rights for several artists and an exclusive partnership to market and distribute recordings through Reservoir’s label platform. Internationally, Khosrowshahi pointed to the launch of Reservoir’s Mumbai-based subsidiary Pop India, along with publishing deals involving Sri Lankan artist Yohani and Indian hip-hop artist Divine. Pop India also acquired publishing and master rights to the Music Craft Entertainment catalog. In the Middle East and North Africa region, Reservoir and PopArabia completed the acquisition of label and digital distribution company Viral Wave in April. Khosrowshahi said the deal expands PopArabia’s team to more than 30 employees across Egypt, Morocco and the United Arab Emirates and adds distribution capabilities to its publishing and label services. During the question-and-answer portion of the call, Khosrowshahi said Viral Wave is an established business with existing clients, relationships and product. Heindlmeyer added that the distribution business carries lower margins than some of Reservoir’s other businesses but is expected to expand the company’s regional opportunities. Reservoir ended the fiscal year with $117.1 million in total liquidity, including $25.9 million in cash and $91.2 million available under its revolving credit facility. Cash flows from operating activities increased by $4.9 million year over year to $50.1 million. The company reported total debt of $455.7 million, net of $3.1 million of deferred financing costs, and net debt of $429.8 million. That compared with net debt of $366.7 million at the end of the prior fiscal year. Heindlmeyer said higher interest expense for the year reflected increased debt tied to music catalog acquisitions and writer signings. For fiscal 2027, Reservoir guided for revenue of $186 million to $191 million and adjusted EBITDA of $75 million to $79 million. Heindlmeyer said the company expects organic growth to remain “pretty steady” in the mid-single-digit range, while noting that guidance reflects assumptions around the expected decay of newer copyrights and does not necessarily project repeated frontline successes from prior years. Asked about EBITDA margin expectations for fiscal 2027, Heindlmeyer said the guidance implies some pressure from Viral Wave’s lower-margin distribution business and continued investment in the frontline side of the recorded music business. Khosrowshahi also addressed previously disclosed non-binding and unsolicited acquisition proposals received by Reservoir. She said the company’s board formed a special committee of independent and disinterested directors in March 2026 to evaluate the proposals. The committee engaged Morgan Stanley & Co. LLC as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel. “Beyond that, we have no additional updates to share today and will provide further information as appropriate,” Khosrowshahi said. In closing, Khosrowshahi said Reservoir’s long-term approach is focused on protecting creators, growing the value of their work and running the business with discipline. Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles. The company operates two primary segments: music publishing and recorded music. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Reservoir Media Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.

Reservoir Media, Inc. (RSVR) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +55.56%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.03, delivering a surprise of +50%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Reservoir Media, which belongs to the Zacks Media Conglomerates industry, posted revenues of $47.5 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.82%. This compares to year-ago revenues of $41.42 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Reservoir Media shares have added about 37.4% since the beginning of the year versus the S&P 500's gain of 9.9%. While Reservoir Media has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Reservoir Media was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $39.18 million in revenues for the coming quarter and $0.11 on $179.81 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Media Conglomerates is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Vail Resorts (MTN), another stock in the broader Zacks Consumer Discretionary sector, has yet to report results for the quarter ended April 2026. The results are expected to be released on June 8. This ski resort operator is expected to post quarterly earnings of $9.06 per share in its upcoming report, which represents a year-over-year change of -14%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Vail Resorts' revenues are expected to be $1.22 billion, down 5.8% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Reservoir Media, Inc. (RSVR) : Free Stock Analysis Report Vail Resorts, Inc. (MTN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Strong Execution and Substantial Capital Deployment Drove Record Financial Performance and High-Quality Portfolio Expansion Fiscal 2027 Financial Outlook of Mid-Single-Digit Top- and Bottom-Line Growth NEW YORK, NY / ACCESS Newswire / May 28, 2026 / Reservoir Media, Inc. (NASDAQ:RSVR) ("Reservoir" or the "Company"), an award-winning independent music company, today announced financial results for the fourth quarter and full year for fiscal 2026 ended March 31, 2026. Fiscal Year 2026 Highlights: Revenue of $175.7 million, increased 6% organically, or 11% including acquisitions year-over-year Operating Income of $38.2 million, increased by 9% year-over-year OIBDA ("Operating Income Before Depreciation & Amortization") of $69.0 million, increased by 12% year-over-year Net Income $7.8 million, or $0.13 per diluted share, compared to Net Income of $7.7 million last year, or $0.12 per diluted share Adjusted EBITDA of $73.6 million, up 12% year-over-year Acquired the publishing catalog of music and cultural icon Miles Davis, as well as rights to his recorded music and shared rights to name and likeness Reinforced relationships with existing clients: Expanded Reservoir's international footprint with the launch of Mumbai-based subsidiary, PopIndia, to sign and develop talent in India, including the company's first deals signing singer, songwriter, rapper, and YouTube star Yohani and acquiring the publishing and master rights to the entire Musicraft Entertainment catalog Expanded the Recorded Music division with a multi-faceted deal with independent record label Fool's Gold Records, including acquiring catalog master rights of several of the label's artists and an exclusive partnership to market and distribute all other recordings on Fool's Gold via the Reservoir label platform Fourth Quarter 2026 & Recent Highlights: Revenue of $47.5 million, increased 12% organically, or 15% including acquisitions year-over-year Operating Income of $11.8 million, increased by 13% year-over-year OIBDA of $19.9 million, increased by 16% year-over-year Net Income of $4.1 million, or $0.07 per diluted share, compared to Net Income of $2.7 million in the year-ago period, or $0.04 per diluted share Adjusted EBITDA of $21.2 million, up 16% year-over-year Announced new publishing deals with country/pop songwriter Allison Veltz Cruz, multi-genre songwriter-producer Britten Newbill, U.K. singer-songwriter Benjamin Francis Leftwich, and Nashville singer-songwriter Sam Tinnesz Reservoir subsidiary PopArabia acquired MENA label and digital distribution company Viral Wave Management Commentary: "Fiscal 2026 was another standout year for Reservoir, marked by strong growth and continued strategic investment. We expanded our catalog across publishing and recorded music, scaled our presence in high-growth international markets, and reinforced our reputation as the partner of choice for leading creators. This momentum is reflected in our partnerships with iconic talent and catalogs, including Miles Davis, Hans Zimmer, Joni Mitchell, and many more," said Golnar Khosrowshahi, Founder and Chief Executive Officer of Reservoir Media. Khosrowshahi continued, "Looking ahead, the outlook for the music industry remains highly compelling. With a robust deal pipeline and a financial profile that supports both organic growth and disciplined capital deployment, we are well positioned to extend our track record of growth. As we enter Fiscal 2027, we remain focused on delivering for our creators and generating long-term value for shareholders." Fourth Quarter & Fiscal Year 2026 Financial Results Total Revenue in the fourth quarter of fiscal 2026 increased 15% to $47.5 million, compared to $41.4 million in the fourth quarter of fiscal 2025. The increase was spread across both Music Publishing and Recorded Music, which saw growth of 11% and 27%, respectively. Total Revenue for fiscal 2026 increased 11% to $175.7 million, compared to $158.7 million in fiscal 2025. The year-over-year improvement was driven by the 9% growth of the Music Publishing segment and the 16% growth of the Recorded Music segment, inclusive of the acquisitions of various catalogs. Operating Income in the fourth quarter of fiscal 2026 was $11.8 million, an increase of 13% compared to Operating Income of $10.4 million in the fourth quarter of fiscal 2025. OIBDA in the fourth quarter of fiscal 2026 increased 16% to $19.9 million, compared to $17.2 million in the prior year quarter. Adjusted EBITDA in the fourth quarter of fiscal 2026 was $21.2 million, compared to $18.2 million last year. The increases in Operating Income, OIBDA, and Adjusted EBITDA in the fourth quarter were primarily driven by strong revenue results in both segments. The gain in all three metrics was partially offset by higher administration expenses, while the increase in operating income was also partially offset by higher amortization and depreciation expense due to the acquisition of catalogs. Operating Income in fiscal 2026 was $38.2 million, an increase of 9% compared to Operating Income of $35.1 million in fiscal 2025. OIBDA in fiscal 2026 increased 12% to $69.0 million, compared to $61.4 million in the prior year. Adjusted EBITDA in fiscal 2026 increased 12% to $73.6 million, compared to $65.7 million last year. The increase in Operating Income, OIBDA, and Adjusted EBITDA for the year was driven by revenue growth and lower cost of revenue as a percentage of revenues. See below for calculations and reconciliations of OIBDA and Adjusted EBITDA to Operating Income and Net Income, respectively. Net Income in the fourth quarter of fiscal 2026 was $4.1 million, or $0.07 per share, compared to $2.7 million, or $0.04 per share, in the year-ago quarter. The increase in Net Income for the fourth quarter was driven by higher operating income and the gain on fair value of interest rate swaps, offset by higher interest expense and loss on foreign exchange. Net Income in fiscal year 2026 was $7.8 million, or $0.13 per diluted share, compared to $7.7 million, or $0.12 per share in fiscal year 2025. The year-over-year increase in Net Income was largely due to an increase in operating income, as well as a decrease in the loss on fair value of interest rate swaps, partially offset by increases in interest expense and income tax expense. Fourth Quarter & Fiscal Year 2026 Segment Review Music Publishing Revenue in the fourth quarter of fiscal 2026 was $30.9 million, an increase of 11% compared to $27.9 million in last fiscal year's fourth quarter. The increase was largely driven by higher Digital revenue and Synchronization revenue, which was partially offset by lower Performance revenue. Music Publishing Revenue in fiscal 2026 was $116.8 million, representing an increase of 9% compared to $107.4 million in fiscal 2025. Growth for the year was driven by Digital revenue as well as double-digit gains in Performance and Other revenue, while all other revenue types grew but to a lesser extent. In the fourth quarter of fiscal 2026, Music Publishing OIBDA increased 5% to $11.0 million, compared to $10.5 million in the fourth quarter of fiscal 2025. During fiscal 2026, Music Publishing OIBDA increased 9% to $40.9 million, compared to $37.3 million in fiscal 2025. Music Publishing OIBDA margin in the fourth quarter decreased from 37% to 36%. Music Publishing OIBDA margin in fiscal 2026 was unchanged at 35%. The decrease in the fourth quarter 2026 OIBDA margins reflected higher administrative costs including professional fees incurred in connection with our acquisition of Viral Wave. Recorded Music Revenue in the fourth quarter of fiscal 2026 was $15.2 million, an increase of 27% compared to $12.0 million in last fiscal year's fourth quarter. Recorded Music Revenue in fiscal 2026 was $51.5 million, an increase of 16% compared to $44.3 million in fiscal 2025. Growth in both periods was driven by a double-digit improvement within Digital revenues and strong growth in Synchronization revenues, which were partially offset by lower Physical revenue in fiscal 2026. In the fourth quarter of fiscal 2026, Recorded Music OIBDA increased 34% to $8.7 million, versus $6.5 million in the year-ago period. During fiscal 2026, Recorded Music OIBDA increased 18% to $26.9 million, compared to $22.7 million in fiscal 2025. Recorded Music OIBDA margin in the fourth quarter increased from 54% to 57%, and in fiscal 2026 increased from 51% to 52%. The increase in the fourth quarter and fiscal 2026 OIBDA margins reflected an increase in revenue as well as lower cost of revenue as a percentage of revenues and improved operating leverage as revenues increased. Balance Sheet and Liquidity During fiscal 2026, cash provided by operating activities was $50.1 million, an increase of $4.9 million compared to the same period last fiscal year. The increase in cash provided by operating activities was primarily attributable to an increase in earnings and cash provided by working capital. As of March 31, 2026, Reservoir had cash and cash equivalents of $25.9 million and $91.2 million available for borrowing under its revolving credit facility, for total available liquidity of $117.1 million. Total debt was $455.7 million (net of $3.1 million of deferred financing costs) and Net Debt was $429.8 million (defined as total debt, less cash and equivalents and deferred financing costs). This compares to cash and cash equivalents of $21.4 million and $58.2 million available for borrowing under its revolving credit facility, for total available liquidity of $79.6 million as of March 31, 2025. Total debt was $388.1 million (net of $3.7 million of deferred financing costs) and Net Debt was $366.7 million as of March 31, 2025. Fiscal Year 2027 Outlook Reservoir initiated the following financial outlook range for fiscal year 2027, and expects the financial results for the year ending March 31, 2027, to be as follows: Jim Heindlmeyer, Chief Financial Officer of Reservoir, commented, "Our full-year 2026 results underscore the strength and resilience of our portfolio, with growth driven by a disciplined approach to both investments and cost. Looking ahead to fiscal 2027, we are well positioned for continued growth due to the strength of our catalog and our proven ability to unlock additional value. This is reflected in our guidance for 7% Revenue growth and 5% Adjusted EBITDA growth at the midpoints." Conference Call Information Reservoir is hosting a conference call for analysts and investors to discuss its financial results for the fourth quarter and fiscal year ended March 31, 2026, and its business outlook at 10:00 a.m. EDT today, May 28, 2026. The conference call can be accessed via webcast in the investor relations section of the Company's website at https://investors.reservoir-media.com/news-and-events/events-and-presentations. Interested parties may also participate in the call using the following registration link: Here. Once registered, participants will receive a webcast link to enter the event. Alternatively, participants may dial into the call using the following phone number: +1 201-389-0921 (Toll-free: +1 877-407-0989). Shortly after the conclusion of the conference call, a replay of the audio webcast will be available in the investor relations section of Reservoir's website for 30 days after the event. ABOUT RESERVOIR Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, Abu Dhabi, and Mumbai. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir represents copyrights and master recordings including titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir frequently holds a Top 10 U.S. Market Share according to Billboard's Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide's The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards. Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Music, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. Forward-looking statements are typically identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "should," "target," "would" and other similar words and expressions. Forward-looking statements in this press release relate to, among other things: Reservoir's anticipated financial condition, results of operations and performance, expected growth, plans and objectives for future operations, business prospects and market conditions. Forward-looking statements are based on the current expectations and beliefs of management and information currently available to management. These statements are inherently subject to a number of risks, uncertainties and assumptions, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this press release, including the risk factors that are described in Reservoir's Annual Report on Form 10-K for the year ended March 31, 2026 and our other filings with the SEC available on the SEC's website at www.sec.gov or Reservoir's website at www.reservoir-media.com. Any forward-looking statement made in this press release speaks only as of the date on which it is made and Reservoir undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Reservoir Media, Inc. and SubsidiariesCondensed Consolidated Statements of IncomeThree and Twelve Months Ended March 31, 2026 versus March 31, 2025(Unaudited)(Expressed in U.S. dollars) Reservoir Media, Inc. and SubsidiariesCondensed Consolidated Balance SheetsMarch 31, 2026 versus March 31, 2025(Unaudited)(Expressed in U.S. dollars) Supplemental Disclosures Regarding Non-GAAP Financial Measures This press release includes certain financial information, such as OIBDA, OIBDA margin, EBITDA, Adjusted EBITDA, and Net Debt, which has not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Reservoir's management uses these non-GAAP financial measures to evaluate Reservoir's operations, measure its performance and make strategic decisions. Reservoir believes that the use of these non-GAAP financial measures provides useful information to investors and others in understanding Reservoir's results of operations and trends in the same manner as Reservoir's management and in evaluating Reservoir's financial measures as compared to the financial measures of other similar companies, many of which present similar non-GAAP financial measures. However, these non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by Reservoir's management about which items are excluded or included in determining these non-GAAP financial measures and, therefore, should not be considered as a substitute for net income, operating income or any other operating performance measures calculated in accordance with GAAP. Using such non-GAAP financial measures in isolation to analyze Reservoir's business would have material limitations because the calculations are based on the subjective determination of Reservoir's management regarding the nature and classification of events and circumstances. In addition, although other companies in Reservoir's industry may report measures titled OIBDA, OIBDA margin, Adjusted EBITDA, and Net Debt, or similar measures, such non-GAAP financial measures may be calculated differently from how Reservoir calculates such non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, such non-GAAP financial measures should be considered alongside other financial performance measures and other financial results presented in accordance with GAAP. You can find the reconciliation of these non‐GAAP financial measures to the nearest comparable GAAP measures in the tables below. OIBDA Reservoir evaluates operating performance based on several factors, including its primary financial measure of operating income before non-cash depreciation of tangible assets and non-cash amortization of intangible assets ("OIBDA"). Reservoir considers OIBDA to be an important indicator of the operational strengths and performance of its businesses and believes this non-GAAP financial measure provides useful information to investors because it removes the significant impact of amortization from Reservoir's results of operations. However, a limitation of the use of OIBDA as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenues in Reservoir's businesses and other non-operating income (loss). Accordingly, OIBDA should be considered in addition to, not as a substitute for, operating income, net income attributable to us and other measures of financial performance reported in accordance with GAAP. In addition, our definition of OIBDA may differ from similarly titled measures used by other companies. OIBDA Margin is defined as OIBDA as a percentage of revenue. EBITDA and Adjusted EBITDA EBITDA is defined as earnings (net income or loss) before net interest expense, income tax (benefit) expense, non-cash depreciation of tangible assets and non-cash amortization of intangible assets and is used by management to measure operating performance of the business. Adjusted EBITDA, in addition to adjusting net income to exclude income tax expense, interest expense and depreciation and amortization, further adjusts net income by excluding items or expenses such as, among others, (1) any non-cash charges (including any impairment charges and loss on early extinguishment of debt and to write-down an equity investment to its estimated fair value), (2) any net gain or loss on foreign exchange, (3) any net gain or loss resulting from interest rate swaps, (4) equity-based compensation expense and (5) certain unusual or non-recurring items. Adjusted EBITDA is a key measure used by Reservoir's management to understand and evaluate operating performance, generate future operating plans, and make strategic decisions regarding the allocation of capital. However, certain limitations on the use of Adjusted EBITDA include, among others, (1) it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue for Reservoir's business, (2) it does not reflect the significant interest expense or cash requirements necessary to service interest or principal payments on Reservoir's indebtedness and (3) it does not reflect every cash expenditure, future requirements for capital expenditures or contractual commitments. In particular, Adjusted EBITDA measure adds back certain non-cash, unusual or non-recurring charges that are deducted in calculating net income; however, these are expenses that may recur, vary greatly and are difficult to predict. In addition, Adjusted EBITDA is not the same as net income or cash flow provided by operating activities as those terms are defined by GAAP and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. Net Debt Reservoir defines Net Debt as total debt, less cash and equivalents and deferred financing costs. Reservoir Media, Inc. and SubsidiariesReconciliation of Operating Income to OIBDAThree and Twelve Months Ended March 31, 2026 versus March 31, 2025(Unaudited)(Dollars in thousands) Reservoir Media, Inc. and SubsidiariesMusic Publishing Segment OIBDAThree and Twelve Months Ended March 31, 2026 versus March 31, 2025 (Unaudited)(Dollars in thousands) Reservoir Media, Inc. and SubsidiariesRecorded Music Segment OIBDAThree and Twelve Months Ended March 31, 2026 versus March 31, 2025 (Unaudited)(Dollars in thousands) Reservoir Media, Inc. and SubsidiariesReconciliation of Net Income to Adjusted EBITDAThree and Twelve Months Ended March 31, 2026 versus March 31, 2025(Unaudited)(Dollars in thousands) Reflects the loss (gain) on foreign exchange fluctuations. Reflects the non-cash (gain) or loss on the mark-to-market of interest rate swaps. Reflects non-cash share-based compensation expense related to the Reservoir Media, Inc. 2021 Omnibus Incentive Plan. Reflects professional fees incurred in connection with the acquisition of Viral Wave, which closed in April 2026, and by the independent special committee ("Special Committee") of the Company's Board of Directors. The Special Committee was formed to evaluate the previously disclosed non-binding and unsolicited acquisition proposals received by the Company. Reflects Reservoir's share of losses recorded by equity method investments during the three and twelve months ended March 31, 2026. Reflects a gain recorded on the disposal of an equity investment (the "Investment Gain") and the Company's share of proceeds related to underreported royalty usage for an acquired Recorded Music catalog that pertained to periods prior to the Company's acquisition of the catalog ("Recovery Income") during the three and twelve months ended March 31, 2025. Media ContactReservoir Media, Inc.Suzy ArrabitoVice President, Marketing & [email protected] Investor ContactAlpha IR GroupJackie Marcus or Nathan [email protected] SOURCE: Reservoir Media, Inc. View the original press release on ACCESS Newswire

This article first appeared on GuruFocus. Release Date: May 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Reservoir Media Inc (NASDAQ:RSVR) reported an 11% revenue growth with 6% organic growth and 12% adjusted EBITDA growth in fiscal 2026. The company successfully deployed approximately $120 million across acquisitions and advances, enhancing its catalog and retaining top creators. Reservoir Media Inc (NASDAQ:RSVR) expanded its international presence, notably launching a subsidiary in India and acquiring a label in the MENA region. The company achieved significant growth in its sync business, with a 5% increase in music publishing and a 39% increase in recorded music. Reservoir Media Inc (NASDAQ:RSVR) was included in Billboard's full-year TOP10 market share ranking, highlighting its commercial success and industry recognition. The company's administration expenses increased by 16% year-over-year, partly due to acquisition-related costs. Interest expenses rose to $26.5 million for the full year, driven by increased debt from acquisitions. The acquisition of ViralWave, while expanding opportunities, is a lower-margin business, impacting overall EBITDA margins. International operations, while promising, currently have a lower EBITDA margin compared to the core business. The company faces uncertainties related to the CRB 5 proceedings, with no material updates available at this time. Warning! GuruFocus has detected 7 Warning Signs with RSVR. Is RSVR fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide more context on the size or scale of the ViralWave catalog and any financial details? A: (CEO) ViralWave is an established business with existing clients and products, which we plan to expand. It's a distribution business, different from our other ventures, with a lower margin but offers regional expansion opportunities. Q: The guidance implies a slight step down in EBITDA margin for 2027. Is this due to higher administrative expenses or something else? A: (CFO) The lower margin from ViralWave impacts this, along with investments in the recorded business. We are cautious and conservative with revenue and associated costs, which affects the EBITDA margin. Q: Any insights into the CRB 5 proceedings and expectations for negotiations? A: (CEO) There are no material updates yet. We remain optimistic about reaching an agreement that positively impacts income shares for songwriters and publishers, but this optimism isn't factored into our forecasts. Q: Are the record-high gross margins sustainable, or are they outliers due to acquisitions? A: (CFO) The increase is due to acquisitions where we retain 100% of revenue, positively impacting gross margins. While we don't expect significant changes, future acquisitions could slightly increase margins. Q: How does international expansion impact adjusted EBITDA, and what are the expectations for fiscal 2027? A: (CFO) International operations have a lower EBITDA margin than our core business but represent a small part of our overall operations. We expect steady mid-single-digit organic growth, with acquisitions and streaming pricing contributing to fiscal 2027 guidance. For the complete transcript of the earnings call, please refer to the full earnings call transcript.