$RSVR

Reservoir Media, Inc.

CIK:0001824403|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 41,482,053	$ 37,164,293
Costs and expenses:
Cost of revenue	14,788,122	13,192,715
Amortization and depreciation	8,295,471	7,313,737
Administration expenses	13,020,086	11,211,147
Total costs and expenses	36,103,679	31,717,599
Operating income	5,378,374	5,446,694
Interest expense	(6,905,300)	(6,295,958)
(Loss) gain on foreign exchange	(43,542)	1,095,414
Gain (loss) on fair value of swaps	925,853	(997,165)
Other (expense) income, net	(102,896)	(163,776)
Loss before income taxes	(747,511)	(914,791)
Income tax benefit	(239,125)	(271,066)
Net loss	(508,386)	(643,725)
Net loss attributable to noncontrolling interests	415,275	88,066
Net loss attributable to Reservoir Media, Inc.	$ (93,111)	$ (555,659)
Loss per common share (Note 13):
Basic (in dollars per share)		$ (0.01)
Diluted (in dollars per share)		$ (0.01)
Weighted average common shares outstanding (Note 13):
Basic (in shares)	65,752,884	65,369,891
Diluted (in shares)	65,752,884	65,369,891

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)

3 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Cash flows from operating activities:

Net loss

$ (508,386)

$ (643,725)

Adjustments to reconcile net loss to net cash (used for) provided by operating activities:

Amortization of intangible assets

8,219,304

7,262,026

Depreciation of property and equipment

76,167

51,711

Share-based compensation

1,820,144

1,133,552

Amortization of deferred financing costs

446,135

372,570

(Gain) loss on fair value of swaps

(925,853)

997,165

Loss from equity method investments

126,505

164,228

Deferred income taxes

(239,708)

(271,066)

Changes in operating assets and liabilities, excluding net assets of acquired business:

Accounts receivable

(1,389,510)

3,174,032

Other current assets

(546,817)

(89,887)

Royalty advances

38,389

1,696,322

Other assets and liabilities

214,888

170,465

Accounts payable, accrued expenses and deferred revenue

(1,423,284)

(2,369,707)

Royalties payable

(7,286,554)

(5,524,771)

Income taxes payable

(28,781)

(108,772)

Net cash (used for) provided by operating activities

(1,407,361)

6,014,143

Cash flows from investing activities:

Purchases of music catalogs

(14,670,802)

(7,938,946)

Acquisition of business, net of cash acquired

(5,032,615)

Investments in equity affiliates

(1,686,788)

Purchases of property and equipment

(84,247)

(33,608)

Net cash used for investing activities

(19,787,664)

(9,659,342)

Cash flows from financing activities:

Proceeds from secured line of credit

6,000,000

Proceeds from stock option exercises

13,684

(2,054,588)

(1,382,793)

Deferred financing costs paid

(1,140,259)

Net cash provided by (used for) financing activities

3,945,412

(2,509,368)

Foreign exchange impact on cash

(41,240)

(374,429)

Net decrease in cash, cash equivalents and restricted cash

(17,290,853)

(6,528,996)

Cash, cash equivalents and restricted cash at beginning of period

31,301,233

^[1]

21,386,140

Cash, cash equivalents and restricted cash at end of period

$ 14,010,380

^[1]

$ 14,857,144

[1]

Restricted cash included in Other current assets at June 30, 2026 and March 31, 2026 consists of funds placed in escrow in connection with the Viral Wave Acquisition that was completed in April 2026 and are legally restricted as to withdrawal of use. Restricted cash is recorded at cost which approximates fair value. See Note 5, Acquisitions.

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Mar. 31, 2026
Current assets
Cash and cash equivalents	$ 13,660,380	$ 25,927,462
Accounts receivable	42,706,945	40,832,075
Current portion of royalty advances	15,999,934	16,368,968
Other current assets	4,938,838	9,409,757
Total current assets	77,306,097	92,538,262
Intangible assets, net	799,847,481	788,740,821
Equity method and other investments	2,704,261	2,830,766
Royalty advances, net of current portion and reserves	56,004,440	54,128,586
Property and equipment, net	803,656	661,986
Operating lease right of use assets, net	7,587,776	7,889,862
Fair value of swap assets	1,993,188	1,356,878
Other assets	2,641,076	1,529,920
Total assets	948,887,975	949,677,081
Current liabilities
Accounts payable and accrued liabilities	3,363,899	4,116,221
Royalties payable	45,334,589	52,323,565
Accrued payroll	807,728	2,672,350
Deferred revenue	3,755,963	2,472,734
Other current liabilities	5,159,837	3,408,651
Income taxes payable	682,208	547,932
Total current liabilities	59,104,224	65,541,453
Secured line of credit	462,151,603	455,705,468
Deferred tax liability	42,013,356	41,786,064
Operating lease liabilities, net of current portion	7,110,527	7,445,152
Fair value of swap liability		289,543
Other liabilities	318,697	345,149
Total liabilities	570,698,407	571,112,829
Contingencies and commitments (Note 15)
Shareholders' Equity
Preferred stock, $0.0001 par value 75,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2026 and March 31, 2026
Common stock, $0.0001 par value; 750,000,000 shares authorized, 65,930,743 shares issued and outstanding at June 30, 2026; 65,602,509 shares issued and outstanding at March 31, 2026	6,594	6,561
Additional paid-in capital	347,020,691	346,933,189
Retained earnings	31,357,123	31,450,234
Accumulated other comprehensive loss	(624,605)	(670,772)
Total Reservoir Media, Inc. shareholders' equity	377,759,803	377,719,212
Noncontrolling interest	429,765	845,040
Total shareholders' equity	378,189,568	378,564,252
Total liabilities and shareholders' equity	$ 948,887,975	$ 949,677,081