Q: What happened in 2024 that drove down ESP for that one year? The number of shares went down and total revenue went up and gross profit went up. Was it some one-time non-cash event? Thanks!
5i Research Answer:
Stingray Group Inc. (RAY.A) reported a net loss of $13.7 million ($0.20 per share) for fiscal 2024 (year ended March 31, 2024), down from net income in the prior year, despite revenue growth to $345.4 million and reduced shares outstanding from buybacks. This EPS decline stemmed primarily from a one-time non-cash goodwill impairment charge of $56.1 million on the Radio segment, recorded in Q4 FY2024.