Stingray Group Inc.

Good morning, ladies and gentlemen, and welcome to the Stingray Group, Inc. Q4 2025 results 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, June 11, 2025. I would now like to turn the I would now like to turn the conference over to Lloyd Feldman. Please go ahead.

Good morning, everybody, and thank you for joining us for Stingray's conference call for its fourth quarter and fiscal year ended March 31, 2025. Today, Eric Boyko, President, Chief Executive Officer and Co-Founder, and Marie-Hélène Foulbier, Interim Chief Financial Officer, will be presenting Stingray's operational and financial highlights. Our press release reporting Stingray's fourth quarter and full year results for fiscal 2025 was issued yesterday after the markets closed. Our press release, MD&A, and financial statements for the quarter are available on our investor website at www.stingray.com and on SEDAR+. I will now provide you with the customary caution that today's discussion of the corporation's performance and its future prospects may include forward-looking statements. The corporation's future operations and performance are subject to risks and uncertainties, and results may vary materially. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form dated June 10, 2025, which is available on SetR+. 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 advised that some of the financial measures discussed over the course of this conference call are non-IFRS. Refer to Stingray's MD&A for a 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 Boyka.

Merci, Lloyd. It's good to have a true Montreal-based Anglophone to start the conversation. Now we're going to go to a more bilingual person. So good morning, everyone, and welcome to our fourth quarter conference call for fiscal 2025. Fiscal 2025 was a highly successful year, reflecting strong execution and market by the achievement of key milestones in our profitable growth strategy. First, advertising revenues from our broadcast and recurring commercial music segment, which compromised of our fast channels and retail media advertising unit, increased by more than 45% for a second consecutive year as advertisers increasingly rely on connected TVs to maximize their advertising dollars. Accordingly, we invested in our fast channels platform in 2025, including the recent launch of channels like Cozy Cafe, Movie Music, Stargaze, and Cityscapes. to position Stingray as the number one global supplier of musical and ambient channels for connected TVs. To leverage the growth on fast channels, we launched Stingray's premium ad inventory network, which I'll explain more in our questions. This is a strategic initiative that enables our tentative partners, vendors, to sell our unsold inventory. We anticipate that this will contribute significantly to our growth trajectory next year, or this year. Secondly, by partnering with the AIB Canada and Léger to release influential research on evolution of in-store audio advertising in Canada, we have further solidified our standing as a recognized leader in this expanding market. We are true trail-bearers in this market, evangelizing retailers about the on-top potential of in-store media ads, adding sales representatives and partners to increase inventory selling and optimize data and pricing structure to improve monetization. Third, the double-digit organic growth for second straight year reflects the judicious investment decisions Stingray has made to prepare revenue growth and drive profitability. In fiscal 2025, we delivered 12.3% year-over-year organic growth, excluding radio, on top of the 10.2% growth of 2024. So always impressive to do two years in a row. Stingrays emerging track record demonstrate consistent double-digit organic growth. We have successfully established the strategic and operational framework that outfits our capacity to continue this trend into this current year and beyond. Finally, we reduced our net debt by more than $27 million in fiscal 25, closing the year with a net debt to pro forma adjusted at the ratio of 2.28 and well within our target range. As a result, fiscal 25 stands as an outstanding year of performance clearly demonstrated by adjusted EBITDA growth outpacing total revenues. So we like that when we get scale. In this very encouraging context, broadcasting and commercial music revenues increased 17.8% to 254 million in fiscal 25, driven by higher fast channel revenues, greater equipment and installation sales related to digital signage, and positive foreign exchange impact. Radio revenues, meanwhile, improved 2.3%, and we did say at the start of the year that our goal was 2% to 3% for the year, so we hit it to $132 million in fiscal 25, mainly due to higher digital revenues. We are particularly pleased that our strategy to leverage the radio sales team in Canada to sell in-store audio and video ads is beginning to deliver tangible results. This latest facet of our growth plan helped to boost radio revenues by nearly 4% in the fourth quarter, despite a tight market environment. Looking forward to 2026, our capital allocation priorities are well-defined. We intend to sustain our momentum by reinvesting in high growth areas of our business, lowering our net debt leverage ratio below two times EBITDA, seeking credit acquisition on an opportunistic basis, and finally, rewarding our current shareholders with our well-established NCIB and dividend programs. I will now call over to Marie-Hélène for a financial overview of the fourth quarter. Merci, Marie.