Reservoir Media reported Q2 fiscal 2026 results for the quarter ended September 30 2025, posting revenue of $45.4 million, a 12% year‑over‑year increase, and earnings per share of $0.03, which fell short of the $0.05 analyst estimate. Net income rose to $2.2 million from $0.2 million a year earlier, and adjusted EBITDA reached $19.4 million, up 10% YoY.
The Recorded Music segment generated $13.0 million in revenue, a 21% increase driven by digital streaming and synchronization demand. The Music Publishing segment produced $30.9 million, up 8% YoY, supported by performance and mechanical revenue growth.
Management raised its full‑year fiscal 2026 revenue guidance to $167–$170 million and adjusted EBITDA guidance to $70–$72 million, reflecting confidence in continued growth.
The quarter also featured the acquisition of the publishing catalog and rights of jazz legend Miles Davis, timed ahead of the artist’s centennial in 2026. Reservoir Media extended its publishing deal for the Nick Drake catalog and secured new agreements in emerging markets.
Despite revenue growth, the EPS miss highlights higher operating costs and one‑time charges. Management emphasized ongoing investment in catalog expansion and cost discipline as key drivers of the company’s performance.
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