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Stingray Reports Third Quarter 2021 Results

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Stingray Reports Third Quarter 2021 Results
Stingray Group Inc.February 3, 2021 GMT
Third Quarter Highlights
Revenues decreased 10.8% to $72.6 million from $81.3 million, primarily due to the impact of the COVID-19 pandemic on Radio revenues
Broadcasting and Commercial Music revenues increased 0.7% and Radio revenues decreased 21.8%, beating the Canadian Radio market in most comparable measures
Marked organic growth of 6.3% in Broadcast and Recurring Commercial Music revenues(1) excluding the impact of foreign exchange and impressive organic growth of 13.7% in the United States
Operating expenses materially decreased by 20.7% to $40.6 million from $51.2 million ....

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MiX Telematics Reports Third Quarter Fiscal 2021 U.S. GAAP Financial Results

Net subscriber base of over 749,000 subscribers
Net income of $5.9 million
Adjusted EBITDA of $9.5 million, at a 28.0% margin
Net cash provided by operating activities of $10.2 million leading to positive free cash flow of $8.7 million
Cash and cash equivalents of $44.0 million at quarter end
MIDRAND, South Africa & BOCA RATON, Fla.–(BUSINESS WIRE)–MiX Telematics Limited (“MiX Telematics”) (NYSE: MIXT, JSE: MIX), a leading global provider of fleet and mobile asset management solutions delivered as Software-as-a-Service (“SaaS”), today announced financial results, in accordance with accounting principles generally accepted in the United States (“GAAP”), for the third quarter, which ended December 31, 2020.
“MiX Telematics reported third quarter results highlighted by sequential growth in subscription revenue and very strong profitability and free cash flow. We saw modestly improved performance in our premium and light fleet segments for th ....

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