It should be a good day for Stingray (RAY-A) tomorrow, with Q2 results beating expectations and coming with the $175M acquisition of TuneIn - adding ~$30M of EBITDA to its broadcasting segment...
… and expanding its U.S. footprint alongside the company’s DMI acquisition a couple weeks ago.
The two deals track to recent management commentary…
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The tuck-ins are focused on cars… you’ll see some other acquisitions in that segment. And the second one is to expand our retail media network in the U.S.
Eric Boyko (CEO) - RAY Q1’26 call
… and at sub-6x EBITDA before $10M of synergies, the market should react positively to Stingray’s execution.
