Tiny (TINY) Q4 2025 earnings summary

Executive summary

• FY2025 revenue reached $203.8 million, up 5% year-over-year, driven by the Serato acquisition and growth in Digital Services.

• Adjusted EBITDA rose 22% to $37.9 million, with margin improving to 19% from 16% the prior year.

• Recurring revenue surged 50% to $57.8 million, now 28% of total revenue, up from $38.7 million and 20% in FY2024.

• Free cash flow for FY2025 was $25.3 million, a 171% increase year-over-year, supporting debt reduction and share repurchases.

• Net loss narrowed to $33.8 million from $47.6 million in FY2024, aided by one-time gains and the Serato acquisition.

Financial highlights

• Q4 2025 revenue was $51.7 million, up 9% year-over-year; growth was 15% excluding divestitures.

• Adjusted EBITDA for Q4 2025 was $9.8 million, down 2% year-over-year.

• Free cash flow per share for FY2025 was $0.93, more than double the prior year.

• Cash on hand at year-end was $29.3 million, up from $22.9 million.

• Total debt (including convertible debentures) was $134.8 million, a 15% increase, but net debt to adjusted EBITDA improved to 2.4x from 3.0x.

Outlook and guidance

• Expect continued growth from the marketplace segment via transaction fees, advertising, and subscriptions.

• Ongoing focus on organic and acquisition-driven recurring revenue growth, leveraging proprietary data and operational best practices.

• Further opportunities anticipated through AI-driven productivity and efficiency gains.

• Continued focus on profitable growth, recurring revenue expansion, and cost discipline across the portfolio.

• Forward-looking statements caution about risks related to integration, financing, technology, and market conditions.