Transcript of Q4 & FY26 Earnings Conference Call.

Amagi Media Labs reported strong FY26 results with revenue of INR 1,506 crores, up 30% year-over-year. The company returned to PAT profitability at scale with PAT of INR 72 crores, a swing of INR 140 crores from FY25 loss. All three business segments showed balanced growth above 25%: Streaming unification grew 26% to INR 838 crores, Monetization and marketplace grew 36% to INR 381 crores, and Cloud modernization grew 32% to INR 286 crores. Net revenue retention remained best-in-class at 126% for the third consecutive year. The company highlighted its first AI agentic product NEWSPULSE with first paying customer, and completed AccuWeather's end-to-end migration to Amagi Cloud. Adjusted EBITDA margin expanded to 10% from 2% in FY25. Management did not provide specific FY27 guidance but stated focus on durable revenue growth, operating leverage, and cash conversion.