Stingray Group Inc.

Good morning, ladies and gentlemen, and welcome to Stingray Group's Q2 2026 results 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 the star zero for the operator. This call is being recorded on Wednesday, November 12, 2025. I would now like to turn the conference over to Matthew Pelletine. Please go ahead.

Thank you very much. Bon maté. Good morning, everyone. And thank you for joining us for Stingrays Conference Call for the second quarter of fiscal 2026, ended September 30, 2025. Today, our Boiko president, CEO, co-founder, and Marie-Hélène Fournier, interim CFO, will be presenting Stingrays operational and financial highlights. Our press release reporting Stingray's second quarter results was issued yesterday after the market closed. Stingray also issued a press release to announce the acquisition of TuneIn Holdings, which will be discussed on the call. These press releases, as well as the MD&A and financial statements for the quarter, are available on our investor website at stingray.com and on Setter Plus. 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 risk and uncertainties, and actual results may differ materially. These risks and uncertainties include but are not limited to the risk factors identified in our press release announcing the tune-in acquisition, and Stingray's annual information form dated June 10, 2025, which is available on CEDAR+. 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 Stingrays MD&A for a complete definition of 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.

Merci, monsieur. Good morning everyone and welcome to our second quarter conference call for fiscal 2026. What a busy day we're having. Today marks a pivotal moment for Stingray as we're not only reporting solid Q2 results but also announcing the second largest acquisition and the largest U.S. acquisition in the corporation's history, Tuning Holdings, creating an audio streaming and advertising powerhouse. This transformative acquisition is expected to greatly expand Stingray's global digital audio footprint, video footprint, and accelerate its growth in streaming services and bolster its advertising offering. But before sharing with you more of the major highlights, let's review Stingray's continued achievement for the second quarter. Stingray's momentum accelerated with organic growth of 16.7% in broadcast and recurring commercial music, largely driven again by rapidly increasing fast channel sales where we have Unmiskin become the leading provider of music, ambiance, and music entertainment channels. During the quarter, we further expanded our premium advertising network by securing a second partnership with LG for additional supply and ad inventory. They will join Vizio in our growing portfolio of partners, and we anticipate adding a lot more in the next year. We civilly diverse our fast channel portfolio in Q2, launching 29 channels with Amazon Fire TV in the US, seven on Roku USA and UK. This builds our success on our recent Roku launch in North America, which are generating over 50,000 listening hours a day or 1.5 million a month. When we were looking at advertising revenue for the quarter, we achieve a remarkable growth of 55%. significantly surpassing our 40% target. This outstanding performance was driven by a year-to-year revenue increase in retail media and, again, strong growth in our fast channel sales. A couple of weeks ago, we announced the acquisition of VMI, a leader in music branding and in-store audio advertising. This represents a strategic transaction for Stingray because it expands our U.S. retail network by 8,500 Walgreen location, and we reached 33,000 locations across North America. For the first time, now Stingray is officially the pharmacy network. We cover all pharmacies across US and Canada. It constantly our leadership position within the in-store audio advertising market and helps global brands reach and engage consumer in their shopping journey. We are pleased to welcome the DMI team to Stingray. And last, for the in-car entertainment segment, we recorded a double-digit revenue growth increase in the second quarter as new vehicles have progressively replaced older fleets. With the recently announced launch of the Advanced Karaoke Experience for BYD vehicles, we expect this trend to continue. Altogether, revenues from our broadcasting and commercial music division grew by 33% to $80 million, this quarter, while radio revenues declined less than 1% to 32.4 million. Our latest numerous PPM ratings for summer 2025 highlight our strong momentum in Canadian radio, showing significant and significant growth in our key markets. On a consolidated basis, we delivered growth of 21% to 113 million in sales, which is a record, and adjusted EBITDA improved by 16.3 to 39.5. Now, tuning to our tune-in acquisition. Good play of words. Now turning our focus on the tune-in acquisition. Given the strong progress we're making with key growth pillars and our strong free cash flow, we believe the timing is right to announce the second largest acquisition in the corporation history, tune-in holding. This acquisition will further strengthen Stinger's position as a global leader of audio and video entertainment and digital advertising sales. Tune-in. is a pioneer in audio streaming content serving 75 million active listeners each month and providing access to 100,000 radio stations and podcasts and music channels. With over 600 million hours of listenership per month, we are the third most listened to channel in the world after our friends at YouTube Video and Spotify. TuneIn's digital content is distributed across more than 200 platforms in 100 countries and fully integrated in 50 in-car audio systems. Equally important, and probably what we're most excited, TuneIn has redefined the art of programmatic advertising via its strategic ad channel partners, reaching audience across our platform with innovative audio, display, and video ad products. It's a growing ad segment, represents more than 70% of its revenues, with the rest coming from premium subscription. We are crafting an unmatched audio-video ecosystem by merging Stingray extensive technology infrastructure and content distribution capabilities with TuneIn expertise in monetization, advertising technology, and diverse content offering. We're partly excited about expanding our reach in the automotive sector, where TuneIn and Stingray have both established strong integration with leading manufacturers. We are confident that this highly transformative acquisition supported by their cost synergies within the next 12 months of closing will supplement our robust internal growth in digital advertising with our CTV and retail media offering and our car offering, delivering solid margin over time and building shareholder value. Overall, the transaction carries an enterprise value of up to $175 million, $125 million paid out at closing of the transaction by the end of 2025, and an amount of $25 million to be paid post-closing. The deal is subject to the regulatory authorities of customary closing conditions. Tudin is expected to generate an estimate of $110 million of revenues this year and $30 million of U.S. EBITDA, plus with our 10 million of synergies that we expect to come. TuneIn will continue to operate under its existing brand and be led by the existing management team. Combined business are expected to generate 560 million of revenues on a pro forma basis and over 200 million pro forma adjusted EBITDA as of December LTM. We also expect our free cash flow to increase by 50% and to be above $2 per share. I'll conclude that our balance sheet, which remains solid even after these two pivotal transactions, we expect after closing of this transaction that our debt EBITDA will be around 2.8 and we expect to deliver and be below 2 by December of next year or in the next 12 months. Reflecting our strong financial performance and our confidence in future cash flow generation, I am pleased to announce that the board has approved a 13.3% increase in our quarterly dividend, raising it from 0.75 cents to 8.5 cents. This decision underscores our commitment to delivering sustainable long-term value to our shareholders. I will now turn the call to Marie-Hélène for a fantastic financial overview of the quarter. Marie.