Reservoir Media, Inc. (NASDAQ:RSVR) reported second-quarter fiscal 2027 financial results for the period ended September 30, 2026, disclosing revenue growth of 10% year-over-year and raising its full-year revenue and Adjusted EBITDA guidance ranges.

Key Highlights

  • Total revenue of $49.9 million in Q2 FY2027, up 10% from $45.4 million in Q2 FY2026, or 4% on an organic basis.
  • Recorded Music revenue grew 18% year-over-year to $15.4 million, driven by digital and neighboring rights revenue growth.
  • Net income of $4.6 million, or $0.07 per share, compared to $2.2 million, or $0.03 per share, in the prior-year quarter.
  • Adjusted EBITDA increased 14% to $22.1 million, compared to $19.4 million in the same quarter last year.
  • Full-year FY2027 revenue guidance raised to a range of $188 million to $192 million, implying 8% growth at the midpoint.
  • Full-year Adjusted EBITDA guidance raised to a range of $77 million to $80 million, implying 7% growth at the midpoint.
  • Total available liquidity of $113.9 million as of September 30, 2026, consisting of $24.8 million in cash and $89.2 million available under the revolving credit facility.

Reservoir Media Q2 FY2027 Financial Results and Segment Performance

According to the filing, Reservoir Media reported total revenue of $49.9 million for the second quarter of fiscal 2027, up from $45.4 million in the second quarter of fiscal 2026. The company disclosed that Music Publishing revenue rose 8% to $33.2 million, with digital revenue reaching $17.6 million and synchronization revenue growing 13% to $5.2 million. Music Publishing OIBDA increased 9% to $12.4 million, and the company reported that Music Publishing OIBDA margin remained steady at 37%.

Recorded Music revenue increased 18% to $15.4 million, the company disclosed, with digital revenue up 33% to $11.5 million and neighboring rights revenue up 40% to $1.5 million. Recorded Music OIBDA grew 26% to $8.3 million, and according to the filing, Recorded Music OIBDA margin expanded from 51% to 54%. Operating income for the quarter was $12.3 million, up 15% from $10.7 million in the year-ago period. The increase in net income was attributed by the company to higher operating income and changes in fair value of swaps and foreign exchange, partially offset by higher income tax and interest expense.

On the balance sheet, the filing states that as of September 30, 2026, total debt was $458.6 million net of $2.2 million in deferred financing costs, and Net Debt was $433.8 million. Cash provided by operating activities for the six months ended September 30, 2026 was $21.6 million, a decrease of $3.7 million compared to the same period in the prior year. The company also disclosed catalog acquisitions during the quarter, including the recorded music catalog of Jose Feliciano and the publishing catalog of Billy Strayhorn, as well as new publishing deals with multiple songwriters and artists.

What Was Disclosed

Reservoir Media filed its Q2 FY2027 earnings release covering the quarter ended September 30, 2026, reporting revenue of $49.9 million, net income of $4.6 million, and raising its full-year FY2027 revenue and Adjusted EBITDA guidance ranges.