The following is a summary of the Reservoir Media, Inc. (RSVR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Reservoir Media reported a 19% increase in top line growth during the third fiscal quarter and expanded its margins by 25% over the prior year in adjusted EBITDA growth.

• Q3 revenue was $35.5 million, a 19% increase from the same period last year, with a 32% year-over-year increase in recorded music driving this revenue growth.

• Operating expenses rose by 13%, and net loss was down to $2.9 million. Total available liquidity is $121.7 million.

• Revised guidance for fiscal year 2024 projects revenue in the range of $140 million to $142 million, and adjusted EBITDA between $53 million and $55 million.

Business Progress:

• Reservoir is investing in a range of music genres and markets, including Latin and Country music, bolstering its roster with artists like Armani White, Mannie Fresh, Willy Will Yanez, and Rudy Perez.

• The company expanded into the Middle East via a partnership with In2Musica and plans to invest heavily in the Indian market due to promising growth in streaming volume.

• Reservoir's artists and songwriters earned a total of 39 Grammy nominations and contributed to 10 victories, which supports the company's talent acquisition and development strategies.

More details: Reservoir Media IR

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