Stingray reports strong revenue increases for Q4 and full-year 2022

MONTREAL — Broadcaster and music service provider Stingray Group Inc. yesterday reported its financial results for its 2022 fiscal year, which showed 21.6% revenue growth in the fourth quarter ended March 31, 2022, and 14% revenue growth for the full year, compared to the same periods a year prior. Specifically, Stingray’s revenue increased to $72.6 million in Q4 2022 compared to $59.7 million in Q4 2021, and its full-year revenue grew to $282.6 million in 2022 from $247.9 million in fiscal 2021. For the fourth quarter, Stingray’s adjusted EBITDA decreased 11.1% to $21 million from $23.6 million in the same...