Stingray Group Inc.

Good morning, ladies and gentlemen, and welcome to the Stingray Group Inc. Q1 2025 results call conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, August 7, 2024. I would now like to turn the conference over to Matthew Powtin. Please go ahead.

Thank you. Bonjour. Good morning, everyone, and thank you for joining us for Stingray's conference call for its first quarter results, ended June 30, 2024. Today, Eric Boyko, President, CEO, and co-founder, as well as Jean-Pierre Trin, CFO, will be presenting Stingray's operational and financial highlights. Our press release reporting Stingray's first quarter results for fiscal 2025 was issued yesterday after the market closed. Our press release, MD&A, and financial statements for the quarter are available on our investor website at stingray.com, as well as CEDAR+. I will now provide you with the customary caution that today's discussion of the corporation's performance and its future prospect may include forward-looking statements. The corporation's future operation and performance are subject to risk and uncertainties and actual results may differ materially. These risks and uncertainties include but are not limited to the risk factors identified in Stingray's Annual Information Form dated June 4, 2024, which is available on CEDR+. The corporation specifically disclaims any intention or obligation to update these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable law. Accordingly, you are advised not to place undue reliance on such forward-looking statements. Also, please be reminded that some financial measures discussed over the course of this conference call are non-IFRS. refer to Stingrays MD&A for complete definition and reconciliation of such measures to IFRS financial measures. Finally, let me remind you that all amounts on this call are expressed in Canadian dollars, unless otherwise indicated. With that, let me turn the call over to Eric.

Thank you, Mathieu. Good morning, everyone, and welcome to our first quarter results conference call. Stingray opened fiscal 25 with a robust sales contributions from retail media and fast channel as advertising revenues nearly doubled year over year. Retail media revenues grew more than 55% quarter of 25 and fast channels when you sort into the triple digit range to deliver unprecedented growth in advertising revenues. As a result, we have achieved a remarkable organic growth of 17.1% year-over-year in broadcast and recurring commercial music revenues. On the fast channel front, it would significantly reach a run rate of 55 million listening hours per quarter. We're leveraging strong relationships with partners like Samsung, LG, and Vizio to capture market share. We have recently signed an agreement with Roku Channels to introduce TikTok radio, Coelho concerts, and two exclusive Stingray Music audio channels to the American and Canadian audiences. As a result, we are highly confident about doubling Fast Channel's revenues this year. From a management perspective, it is highly stimulating to see our business firing in all cylinders. For example, our In-Car Audio Entertainment Union, which has a longer sales and revenue recognition cycles than advertising, generated double-digit revenue growth in the first quarter. Stingray Karaoke has been deployed in approximately two-thirds of the 300 targeted cars at BYD, while the pipeline for other manufacturers remains replete with opportunities. Altogether, revenues from broadcasting and commercial music business increased 20.5% to $56.9 million in the first quarter, while radio revenues improved 1.3% to $32 million, as we continue to outperform the industry with expanding revenue streams from digital solutions. Following the Kodak end, we acquired the Kodak Collection, a leading streaming platform that showcases iconic moments in music history through storytelling. The Kodak Collection, which is available on Prime Video channels in the US and UK, aligns strategically with our plan to enhance our portfolio of music streaming services and solidify our leadership in concert streaming on the Amazon platform. The Collection joins Stingray with other popular streaming services such as Quello, Concert, Stingray, karaoke, stingray classica, and stingray jazz. Looking ahead for the rest of fiscal 25, we will remain focused on generating outsized organic growth while keeping an eye on complementary second acquisitions. As always, our capital allocation strategy will continue to prioritize debt reduction with a target leverage ratio between 2 and 2.5 times by the end of the fiscal year without sacrificing investment in high-growth areas where we have sustained differentiation. Finally, I would like to say a few words about Stingray's first sustainability report that was released earlier today. This sustainability report, which reflects our dedication to transparency and responsibility, represents a stepping in steps towards a promising future for Stingray. I am highly optimistic about the Transatlantic Impact Initiative we will have overall in our business. because it has created a positive feedback loop within the organization. Adding the support to our annual rotation will make us more knowledgeable about ESG matters and therefore better equipped to enact meaningful change. Stingray's sustainability framework has been structured around three main pillars, social prosperity, responsible business, and environmental engagement. For more information, I encourage you to view our sustainability report And that word is tough to say in English. Sustainability report on Stingray's website. I will now turn the call over to Jean-Pierre for financial overview.