Stingray Group Inc.

Good morning, ladies and gentlemen, and welcome to Stingray Group's third quarter 2026 conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you need assistance, please press star zero for the operator. This call is being recorded on Wednesday, February 11, 2026. I would now like to turn the conference over to Mathieu Pellekin. Please go ahead.

Thank you. Bon matin. Good morning, everyone. And thank you for joining us for Stingray's conference call for the third quarter of fiscal 2026, ended December 31, 2025. Today, Eric Boyko, President, CEO, and co-founder, as well as Marie-Hélène Fournier, Interim Chief Financial Officer, will be presenting Stingray's operational and financial highlights. Our press release reporting Stingray's third quarter results was issued yesterday after the market closed. Our press release and DNA and financial statements for the quarter are available on our investor website at stingray.com and Cedar Plus. I will now provide you with the customary caution that today's discussion of the corporation's performance and its future prospects include forward-looking statements. The corporation's future operation and performance are subject to risk and uncertainties, and actual results may differ materially. These risk and uncertainties include but are not limited to The risk factors identified in Stingray's Annual Information Forum 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're 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 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.

Okay, merci monsieur. Good morning, everyone, and thanks for joining us for our third quarter fiscal 26 earnings calls. I want to begin the call with talking about the significant progress Extingery has made in positioning itself for long-term sustainable growth. We have built a unique and powerful position in the market, and I want to share with you the framework that will underpin our strategy. Extingery is built on three pillars that work together to drive our growth. Distribution, monetization, and and content. Our first pillar, distribution. Our purpose is simple, to be everywhere our listeners are. We have executed on this, and today Stingray is the most widely distributed streaming media company across the platforms that are now part of our daily lives. We are the most widely distributed music player on connected TVs, smart speakers, mobile device, connected cars, and thousands of retail stores. This massive footprint is our core strength. We have built our services directly into the device people use every day, making our content very easy to access. This gives us a powerful and lasting advantage that is difficult for anyone to replicate. As of today, we estimate that we have over $200 million of Fast Channels unsold inventory and over $400 million of unsold retail media inventory. And as you can see with our reveals, we are quickly building our car inventory. Second, our second pillar, monetization. We like the word monetization. Having a massive audience is one thing. Monetizing it effectively is another. With the acquisition of TuneIn, we now have a world-class advertising engine to turn a reach into revenue. We have the technology, the ad stack, and the right demand side partnership to sell both audio and video ads across our entire network. For advertisers, this is a game changer. They can now come to one place, Tengri, to connect with a global audience through their TVs, their speakers, their cars, and at retail. This unified platform creates a predictable and highly scalable revenue stream for our businesses. So we have distribution. We have the monetization engine. That brings me to our third and perhaps the most important pillar content. So in terms of monetization, We feel that we will be achieving 500K a day of programmatic sales. A year ago when we were talking at this time, our sales of programming was zero. And now our run rate is 500,000 a day, and that's 102 million US, 250 million Canadian. So when you talk about growth going from zero to 250, that's a great new vector. Well, content. What is the fuel on our model and what truly sets us apart? While other streaming compete in the expensive, very expensive world of on-demand music, we have built a smarter model focused on creation. We create expertly crafted playlists, engaging karaoke experience, and world-class catalog of recorded concerts. This strategy gives us something very powerful, unmatched and scalable units economics. Our content costs do not grow at the same pace of our audience. As we reach more listeners, our models become more profitable. We deliver premium experiences to hundreds of millions of users without the prohibitive costs that challenge others in the industry. It is smarter, more sustainable way to grow. This is the story of Stingray, a company with unmatched reach, a world-class advertising engine, and a unique content strategy. We are building a scalable platform for the future of streaming. The results we are sharing today are a direct outcome of this focused strategy. Let me now turn you, turn review to our third quarter fiscal 2026. Stingray announced exceptional third quarter results for fiscal 26 with revenues and adjusted EBITDA, adjusted free cash flow reaching record levels. On a consolidated basis, Stingray generated adjusted EBITDA of 44.5 million and adjusted free cash flow of 34.8 million on revenues of $124.8 million in the third quarter. The highlights this positive impact of its recent tune-in acquisition and the continued expansion of high-growth areas like fast channels and car entertainment. Fast channels are particularly a robust financial result as we leverage premium ad networks, which we call a backfill, to monetize unsold inventory and benefit from new deployment across the LG platform. In addition, the integration of TuneIn has progressed even better than planned. Following the closing of this transformative acquisition on December 19, TuneIn's performance has exceeded our expectation, creating powerful new synergies that are already reflected in our strong financial performance. Revenue synergies with TuneIn reach an annual run rate of $16 million in revenues and $5 million in cost savings. As a reminder, we have established synergy goals for sales between 20 to 40 million of cross-selling and for cost saving between 10 to 15 million in the next 18 months or before March 27th. So we started the year, let's say, on a fast track. On the in-car entertainment side, our recent agreement with world-class automotive brands like BYD, Mercedes, and Nissan are a powerful validation of our in-car entertainment strategy. By integrating our full suite of products from Stingray music and karaoke to the rich content of TuneIn, we are cementing our role as an essential partner for the connected cars. These new partnerships expand our global footprint and accelerate our momentum. At BYD, we raised our partnership to a new level through our OEM radio deal involving the integration of our full suite of products including Stingray music and TuneIn under the BYD Audio. by Stingray Brands, Stingray Karaoke, and Calm Radio. Turning to Mercedes, we will launch Stingray Music and Stingray Karaoke application in all vehicles equipped with the latest MBUX information system. This application, which will be immediately pre-installed Mercedes cars, expected to be released in the first half of calendar 26. And just last week, we announced a collaboration with Nissan to bring a unique tuning offering to select Nissan and Infiniti vehicles in the United States. As a result, drivers will gain access to live sports, breaking news, creative music, millions of podcasts, and tens of thousands of radio stations on the latest Nissan infotainment system. These partnerships do not only strengthen Stingray's global automatic presence, but also accelerate the rollout of branded in-vehicle audio experiences. Amid this flurry of activity, Revenues for broadcasting and commercial music business grew by 22% to $88 million in the third quarter of 26, while radio revenues rose 2% to $36.7 million. In terms of our radio business, we entered into the agreement to acquire the assets of CHUP FM in late November to solidify our position in the Calgary market. More specifically, this deal enabled us to improve efficiency and achieve economies of scale since we already own two other radio stations in the market. Altogether, Stingray Radio owns and operates 32 radio licenses in Alberta and 96 radio stations across Canada. Calgary general transaction is subject to CRTC approval, while we expect it to close in the second quarter of fiscal 2027. Finally, I would like to reiterate the relative strength of our balance sheet post-acquisition. Very happy, we are very happy to show that our leverage ratio is below 2.8 that we had told the market for the third quarter, and we ended December 31st at 2.49. So a very good closing, very good cash flow for the company. Looking ahead for the next 12 months, reducing our debt will be our top of our capital allocation parties, with our target set to drop below two times EBITDA by the end of calendar year, so by the end of December. So a very quick delivery of this acquisition. Consequently, we believe Stingray's path to value creation will be marked by accelerated embedded growth and free cash flow generation in upcoming quarters. I will now call over the call to Mary Lynn for our financial overview of the quarter, and I will be pleased to ask questions. Merci, Marie.