Reservoir Media Announces Third Quarter Fiscal 2026 Results
Rhea-AI Summary
Reservoir Media (NASDAQ:RSVR) reported Q3 fiscal 2026 results for the quarter ended December 31, 2025, with revenue of $45.6M (up 8% YoY) and adjusted EBITDA of $19.2M (up 11% YoY). Music publishing revenue rose 12% to $30.1M, driven by performance and digital growth. Net income was $2.2M, or $0.03 per share. Reservoir raised its full-year fiscal 2026 guidance to $170M–$173M revenue and $71.5M–$73.5M adjusted EBITDA, citing catalog acquisitions and streaming growth.
Positive
- Total revenue +8% YoY to $45.6M in Q3 FY26
- Music publishing revenue +12% YoY to $30.1M
- Adjusted EBITDA +11% YoY to $19.2M in Q3 FY26
- Raised FY26 guidance to $170M–$173M revenue and $71.5M–$73.5M adjusted EBITDA
Negative
- Net income down 59% YoY to $2.2M in Q3 FY26
- Net debt increased to $431.7M from $366.7M as of prior year period
News Market Reaction
On the day this news was published, RSVR gained 3.74%, reflecting a moderate positive market reaction. Argus tracked a peak move of +9.8% during that session. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $18M to the company's valuation, bringing the market cap to $500M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
RSVR fell 2.7% while key peers like MCS, AMCX, PLAY, and AENT also declined, but HUYA rose. Mixed peer moves and a lack of momentum scanner signals point to a company-specific reaction.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Earnings date notice | Neutral | +3.4% | Announcement of Q3 FY26 results release date and conference call details. |
| Nov 04 | Quarterly earnings | Positive | +0.4% | Q2 FY26 revenue and Adjusted EBITDA growth with raised full-year guidance. |
| Oct 21 | Earnings date notice | Neutral | +0.8% | Planned Q2 FY26 release and investor call logistics for September quarter. |
| Sep 09 | Catalog acquisition | Positive | -0.8% | Acquisition of Miles Davis publishing, recorded music, and likeness rights. |
| Aug 05 | Quarterly earnings | Positive | -3.6% | Q1 FY26 revenue and profit growth with maintained full-year guidance range. |
Operationally positive news (earnings, acquisitions) has produced mixed reactions, with both aligned gains and divergences where the stock traded lower despite upbeat fundamentals.
Over the last few quarters, Reservoir reported consistent revenue and Adjusted EBITDA growth, with Q1 and Q2 FY26 results showing higher revenue and profitability and multiple catalog acquisitions. An August earnings release on Aug 5, 2025 and a Miles Davis catalog acquisition on Sep 9, 2025 both saw modest negative price reactions despite constructive updates. More recently, the Q2 FY26 earnings on Nov 4, 2025 and the Q3 FY26 earnings-date announcement on Jan 21, 2026 coincided with small gains, underscoring a mixed but generally restrained response pattern to news.
Market Pulse Summary
This announcement highlights Q3 FY26 revenue of $45.6M, 12% growth in Music Publishing, and 11% growth in Adjusted EBITDA to $19.2M, alongside increased FY26 guidance of $170M–$173M in revenue and $71.5M–$73.5M in Adjusted EBITDA. Net income declined to $2.2M due to non-operational factors, while liquidity stood at $114.8M. Investors may track future catalog acquisitions, publishing margins, and the company’s ability to sustain double-digit growth in key profit metrics.
Key Terms
oibda financial
adjusted ebitda financial
net debt financial
revolving credit facility financial
AI-generated analysis. Not financial advice.
Double-Digit Growth in Music Publishing Driven by Performance and Digital Revenues
Raised Midpoint of Revenue and Adjusted EBITDA Outlook for Fiscal 2026
NEW YORK CITY, NY / ACCESS Newswire / February 4, 2026 / Reservoir Media, Inc. (NASDAQ:RSVR) ("Reservoir" or the "Company"), an award-winning independent music company, today announced financial results for the third quarter of fiscal 2026 ended December 31, 2025.
Recent Highlights:
Revenue of
$45.6 million , increased5% organically, or8% including acquisitions year-over-yearMusic Publishing Revenue rose
12% year-over-yearRecorded Music Revenue increased by
8% year-over-year
Operating Income of
$10.3 million , increased by8% year-over-yearOIBDA ("Operating Income Before Depreciation & Amortization") of
$18.1 million , an increase of11% year-over-yearNet Income of
$2.2 million , or$0.03 per share, compared to net income of$5.3 million , or$0.08 per share year-over-yearAdjusted EBITDA of
$19.2 million , up11% year-over-yearEntered a joint venture with Jamaican and dancehall music publisher Abood Music and genre star Cordell "Skatta" Burrell
Acquired the catalog of yacht rock icon and singer-songwriter Bertie Higgins, including publishing and recorded music rights
Announced publishing deals with female-led disco-soul group Say She She, 2x-Platinum selling country and pop songwriter Allison Veltz Cruz, and multi-genre songwriter-producer Britten Newbill
Extended publishing agreement with multi-platinum Indian hip-hop artist DIVINE
Management Commentary:
"This quarter, we continued to execute with focus and discipline, advancing our top-line objectives while maintaining strong cost and balance sheet control," said Golnar Khosrowshahi, Founder and Chief Executive Officer of Reservoir Media. "Across a range of new deals this quarter, spanning emerging talent and enduring cultural icons, and with our commitment to creators at the forefront of everything we do, Reservoir remains a trusted global partner. Our strong, diversified pipeline positions us well to continue to execute on transactions while delivering attractive returns."
Third Quarter Fiscal 2026 Financial Results
Summary Financials | Q3 FY26 | Q3 FY25 | Change | ||||||
Total Revenue | |||||||||
Music Publishing Revenue | |||||||||
Recorded Music Revenue | |||||||||
Operating Income | |||||||||
OIBDA | |||||||||
Net Income | ( | ||||||||
Adjusted EBITDA |
(Table Notes: $ in millions; Quarters ended December 31st; Unaudited)
Total revenue in the third quarter of fiscal 2026 increased
Operating income in the third quarter of fiscal 2026 was
Net income in the third quarter of fiscal 2026 was
Third Quarter Fiscal 2026 Segment Review
Music Publishing | Q3 FY26 | Q3 FY25 | Change | ||||||
Revenue by Type | |||||||||
Digital | |||||||||
Performance | |||||||||
Synchronization | |||||||||
Mechanical | ( | ||||||||
Other | |||||||||
Total Revenue | |||||||||
OIBDA |
(Table Notes: $ in millions; Quarters ended December 31st; Unaudited)
Music Publishing Revenue in the third quarter of fiscal 2026 was
In the third quarter of fiscal 2026, Music Publishing OIBDA increased
Recorded Music | Q3 FY26 | Q3 FY25 | Change | ||||||
Revenue by Type | |||||||||
Digital | |||||||||
Physical | ( | ||||||||
Neighboring Rights | |||||||||
Synchronization | ( | ||||||||
Total Revenue | |||||||||
OIBDA |
(Table Notes: $ in millions; Quarters ended December 31st; Unaudited)
Recorded Music Revenue in the third quarter of fiscal 2026 was
In the third quarter of fiscal 2026, Recorded Music OIBDA increased
Balance Sheet and Liquidity
For the nine months ended December 31, 2025, cash provided by operating activities was
As of December 31, 2025, Reservoir had cash and cash equivalents of
Fiscal Year 2026 Outlook
Reservoir increased its previously provided financial outlook ranges for fiscal year 2026, and expects the financial results for the year ending March 31, 2026, to be as follows:
Outlook | Guidance | Growth (at mid-point) | ||||
Revenue | ||||||
Adjusted EBITDA |
Jim Heindlmeyer, Chief Financial Officer of Reservoir, stated, "Our financial results through the first three fiscal quarters underscore the strength of our portfolio of talent and our disciplined approach to sourcing deals with strong fundamentals and compelling return potential. We are raising our guidance ranges for both revenue and adjusted EBITDA for the full 2026 fiscal year."
Conference Call Information
Reservoir is hosting a conference call for analysts and investors to discuss its financial results for the third quarter for fiscal year ending March 31, 2026 at 10:00 a.m. EST today, February 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, 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, 2025 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 Subsidiaries
Condensed Consolidated Statements of Income
Three and Nine Months Ended December 31, 2025 versus December 31, 2024
(Unaudited)
(Expressed in U.S. dollars)
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
2025 | 2024 | % Change | 2025 | 2024 | % Change | |||||||||||||||||||
Revenues | $ | 45,567,879 | $ | 42,303,716 | 8 | % | $ | 128,167,223 | $ | 117,287,952 | 9 | % | ||||||||||||
Costs and expenses: | ||||||||||||||||||||||||
Cost of revenue | 16,197,952 | 15,068,042 | 7 | % | 45,922,872 | 43,180,529 | 6 | % | ||||||||||||||||
Amortization and depreciation | 7,789,274 | 6,713,621 | 16 | % | 22,659,874 | 19,528,397 | 16 | % | ||||||||||||||||
Administration expenses | 11,253,191 | 10,964,096 | 3 | % | 33,123,780 | 29,937,510 | 11 | % | ||||||||||||||||
Total costs and expenses | 35,240,417 | 32,745,759 | 8 | % | 101,706,526 | 92,646,436 | 10 | % | ||||||||||||||||
Operating income | 10,327,462 | 9,557,957 | 8 | % | 26,460,697 | 24,641,516 | 7 | % | ||||||||||||||||
Interest expense | (6,584,013 | ) | (5,776,861 | ) | (19,621,628 | ) | (15,796,667 | ) | ||||||||||||||||
(Loss) gain on foreign exchange | (88,508 | ) | (76,431 | ) | 619,896 | (172,242 | ) | |||||||||||||||||
(Loss) gain on fair value of swaps | (270,380 | ) | 3,084,761 | (1,583,543 | ) | (2,532,441 | ) | |||||||||||||||||
Other (expense) income, net | (103,113 | ) | 509,263 | (357,596 | ) | 410,774 | ||||||||||||||||||
Income before income taxes | 3,281,448 | 7,298,689 | 5,517,826 | 6,550,940 | ||||||||||||||||||||
Income tax expense | 1,078,418 | 1,987,150 | 1,754,665 | 1,540,589 | ||||||||||||||||||||
Net income | 2,203,030 | 5,311,539 | 3,763,161 | 5,010,351 | ||||||||||||||||||||
Net (income) loss attributable to noncontrolling interests | (7,045 | ) | (67,448 | ) | 135,006 | 72,100 | ||||||||||||||||||
Net income attributable to Reservoir Media, Inc. | $ | 2,195,985 | $ | 5,244,091 | $ | 3,898,167 | $ | 5,082,451 | ||||||||||||||||
Earnings per common share: | ||||||||||||||||||||||||
Basic | $ | 0.03 | $ | 0.08 | $ | 0.06 | $ | 0.08 | ||||||||||||||||
Diluted | $ | 0.03 | $ | 0.08 | $ | 0.06 | $ | 0.08 | ||||||||||||||||
Weighted average common shares outstanding: | ||||||||||||||||||||||||
Basic | 65,600,855 | 65,240,858 | 65,512,938 | 65,133,225 | ||||||||||||||||||||
Diluted | 66,331,466 | 66,106,474 | 66,217,667 | 65,906,440 | ||||||||||||||||||||
Reservoir Media, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
December 31, 2025 versus March 31, 2025
(Unaudited)
(Expressed in U.S. dollars)
December 31, | March 31, | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 20,591,354 | $ | 21,386,140 | ||||
Accounts receivable | 37,055,363 | 37,848,611 | ||||||
Current portion of royalty advances | 15,328,098 | 15,182,463 | ||||||
Other current assets | 4,865,554 | 4,867,081 | ||||||
Total current assets | 77,840,369 | 79,284,295 | ||||||
Intangible assets, net | 797,168,961 | 719,673,219 | ||||||
Equity method and other investments | 2,578,144 | 1,100,000 | ||||||
Royalty advances, net of current portion and reserves | 54,144,766 | 55,508,155 | ||||||
Property and equipment, net | 530,554 | 406,784 | ||||||
Operating lease right of use assets, net | 7,259,255 | 5,949,418 | ||||||
Fair value of swap assets | 642,406 | 1,828,303 | ||||||
Other assets | 1,740,980 | 1,376,836 | ||||||
Total assets | $ | 941,905,435 | $ | 865,127,010 | ||||
Liabilities | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued liabilities | $ | 5,853,767 | $ | 5,394,755 | ||||
Royalties payable | 47,896,461 | 47,210,727 | ||||||
Accrued payroll | 1,599,390 | 2,588,758 | ||||||
Deferred revenue | 4,063,269 | 1,885,462 | ||||||
Other current liabilities | 6,204,969 | 7,954,208 | ||||||
Income taxes payable | 11,844 | 803,342 | ||||||
Total current liabilities | 65,629,700 | 65,837,252 | ||||||
Secured line of credit | 452,259,334 | 388,134,754 | ||||||
Deferred income taxes | 40,853,064 | 38,228,099 | ||||||
Operating lease liabilities, net of current portion | 7,194,524 | 5,723,930 | ||||||
Fair value of swap liability | 807,654 | 410,008 | ||||||
Other liabilities | 360,507 | 593,185 | ||||||
Total liabilities | 567,104,783 | 498,927,228 | ||||||
Contingencies and commitments | ||||||||
Shareholders' Equity | ||||||||
Preferred stock | - | - | ||||||
Common stock | 6,560 | 6,524 | ||||||
Additional paid-in capital | 346,079,764 | 344,145,789 | ||||||
Retained earnings | 27,045,737 | 23,147,570 | ||||||
Accumulated other comprehensive income (loss) | 482,408 | (2,422,107 | ) | |||||
Total Reservoir Media, Inc. shareholders' equity | 373,614,469 | 364,877,776 | ||||||
Noncontrolling interest | 1,186,183 | 1,322,006 | ||||||
Total shareholders' equity | 374,800,652 | 366,199,782 | ||||||
Total liabilities and shareholders' equity | $ | 941,905,435 | $ | 865,127,010 | ||||
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 Subsidiaries
Reconciliation of Operating Income to OIBDA
Three and Nine Months Ended December 31, 2025 versus December 31, 2024
(Unaudited)
(Dollars in thousands)
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenues | $ | 45,568 | $ | 42,304 | $ | 128,167 | $ | 117,288 | ||||||||
Cost of revenue | 16,198 | 15,068 | 45,923 | 43,181 | ||||||||||||
Administration expenses | 11,253 | 10,964 | 33,124 | 29,938 | ||||||||||||
OIBDA | 18,117 | 16,272 | 49,121 | 44,170 | ||||||||||||
Amortization and depreciation | 7,789 | 6,714 | 22,660 | 19,528 | ||||||||||||
Operating income | $ | 10,327 | $ | 9,558 | $ | 26,461 | $ | 24,642 | ||||||||
Reservoir Media, Inc. and Subsidiaries
Music Publishing Segment OIBDA
Three and Nine Months Ended December 31, 2025 versus December 31, 2024
(Unaudited)
(Dollars in thousands)
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenues | $ | 30,122 | $ | 26,893 | $ | 85,930 | $ | 79,489 | ||||||||
Cost of revenue | 12,617 | 11,731 | 36,101 | 34,149 | ||||||||||||
Administration expenses | 6,462 | 6,014 | 19,907 | 18,449 | ||||||||||||
OIBDA | $ | 11,042 | $ | 9,148 | $ | 29,922 | $ | 26,891 | ||||||||
Reservoir Media, Inc. and Subsidiaries
Recorded Music Segment OIBDA
Three and Nine Months Ended December 31, 2025 versus December 31, 2024
(Unaudited)
(Dollars in thousands)
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenues | $ | 12,873 | $ | 11,964 | $ | 36,299 | $ | 32,287 | ||||||||
Cost of revenue | 3,581 | 3,337 | 9,822 | 9,032 | ||||||||||||
Administration expenses | 2,565 | 2,229 | 8,300 | 7,002 | ||||||||||||
OIBDA | $ | 6,727 | $ | 6,398 | $ | 18,177 | $ | 16,253 | ||||||||
Reservoir Media, Inc. and Subsidiaries
Reconciliation of Net Income to Adjusted EBITDA
Three and Nine Months Ended December 31, 2025 versus December 31, 2024
(Unaudited)
(Dollars in thousands)
For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net Income | $ | 2,203 | $ | 5,312 | $ | 3,763 | $ | 5,010 | ||||||||
Income Tax Expense | 1,078 | 1,987 | 1,755 | 1,541 | ||||||||||||
Interest Expense | 6,584 | 5,777 | 19,622 | 15,797 | ||||||||||||
Amortization and Depreciation | 7,789 | 6,714 | 22,660 | 19,528 | ||||||||||||
EBITDA | 17,654 | 19,790 | 47,800 | 41,876 | ||||||||||||
Loss (Gain) on Foreign Exchange(a) | 89 | 76 | (620 | ) | 172 | |||||||||||
Loss (Gain) on Fair Value of Swaps(b) | 270 | (3,085 | ) | 1,584 | 2,532 | |||||||||||
Non-cash Share-based Compensation(c) | 1,092 | 1,006 | 3,339 | 3,334 | ||||||||||||
Other Expense (Income), Net(d) | 103 | (509 | ) | 358 | (411 | ) | ||||||||||
Adjusted EBITDA | $ | 19,208 | $ | 17,278 | $ | 52,461 | $ | 47,504 | ||||||||
(a) Reflects the loss or (gain) on foreign exchange fluctuations.
(b) Reflects the non-cash loss or (gain) on the mark-to-market of interest rate swaps.
(c) Reflects non-cash share-based compensation expense related to the Reservoir Media, Inc. 2021 Omnibus Incentive Plan.
(d) Reflects Reservoir's share of losses recorded by equity method investments during the three and nine months ended December 31, 2025. 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 months ended December 31, 2024. Reflects the Investment Gain and Recovery Income, partially offset by Reservoir's share of the loss recorded by an equity method investment during the nine months ended December 31, 2024.
Media Contact
Reservoir Media, Inc.
Suzy Arrabito
Vice President, Marketing & Communications
sa@reservoir-media.com
www.reservoir-media.com
Investor Contact
Alpha IR Group
Jackie Marcus or Nathan Skown
RSVR@alpha-ir.com
SOURCE: Reservoir Media, Inc.
View the original press release on ACCESS Newswire
FAQ
What drove Reservoir Media (RSVR) revenue growth in Q3 FY2026?
Why did Reservoir Media (RSVR) adjusted EBITDA increase in Q3 FY2026?
Why did Reservoir Media (RSVR) report lower net income in Q3 FY2026 despite higher revenues?
How did Reservoir Media (RSVR) change its fiscal 2026 outlook on February 4, 2026?
What is Reservoir Media's (RSVR) liquidity and debt position as of December 31, 2025?
