Reservoir Media said fiscal 2026 revenue rose to $175.7 million from $158.7 million a year earlier, an 11% increase, with organic growth of 6% and acquisition-driven growth bringing the total increase to 11%.
Fourth-quarter revenue climbed to $47.5 million from $41.4 million, up 15%. Music publishing revenue increased to $30.9 million from $27.9 million, while recorded music revenue jumped to $15.2 million from $12.0 million.
For the full year, publishing revenue rose 9% to $116.8 million from $107.4 million, and recorded music revenue increased 16% to $51.5 million from $44.3 million.
Operating income for fiscal 2026 was $38.2 million, up from $35.1 million, a 9% increase. In the fourth quarter, operating income rose 13% to $11.8 million from $10.4 million.
OIBDA increased to $69.0 million from $61.4 million for the year, a 12% gain, and to $19.9 million from $17.2 million in the fourth quarter, up 16%. Adjusted EBITDA rose to $73.6 million from $65.7 million for the year, also up 12%, and to $21.2 million from $18.2 million in the quarter, up 16%.
Net income for fiscal 2026 was $7.8 million, compared with $7.7 million a year earlier. Diluted earnings per share rose to $0.13 from $0.12. In the fourth quarter, net income increased to $4.1 million from $2.7 million, and diluted EPS rose to $0.07 from $0.04.
Within publishing, digital revenue increased to $64.7 million for the year from $60.5 million, while performance revenue rose to $24.0 million from $21.1 million and synchronization revenue to $19.1 million from $18.2 million. Quarterly publishing digital revenue climbed to $16.9 million from $13.6 million, while performance revenue fell to $5.5 million from $6.5 million.
Recorded music saw digital revenue increase to $36.4 million for the year from $30.7 million, synchronization revenue rise to $4.3 million from $3.1 million, and neighboring rights revenue edge up to $4.7 million from $4.2 million. Quarterly recorded music digital revenue rose to $10.3 million from $8.8 million, and synchronization revenue surged to $1.7 million from $0.7 million.
Cash provided by operating activities increased to $50.1 million from $45.2 million. Cash and cash equivalents were $25.9 million at March 31, 2026, up from $21.4 million a year earlier, while available borrowing capacity rose to $91.2 million from $58.2 million, lifting total available liquidity to $117.1 million from $79.6 million.
Total debt increased to $455.7 million from $388.1 million, and net debt rose to $429.8 million from $366.7 million.
For fiscal 2027, Reservoir guided to revenue of $186 million to $191 million and adjusted EBITDA of $75 million to $79 million. At the midpoint, that implies 7% revenue growth and 5% adjusted EBITDA growth. As a result of these announcements, the company's shares have moved -0.76% on the market, and are now trading at a price of $10.39. Check out the company's full 8-K submission here.
