How did RSVR's revenue and expenses perform in Q3 2025 compared to previous quarters?

Reservoir Media (RSVR) demonstrated robust growth in its revenue and expenses in Q3 2025 compared to the previous quarters, reflecting strategic initiatives and market expansion.

1. **Revenue Performance**:
- In Q3 2025, Reservoir Media reported a revenue of $42.3 million, marking a 19% increase year-over-year.
- The growth in revenue was driven by significant increases in both music publishing and recorded music revenue, with 16% and 20% year-over-year growth, respectively.
- This performance underscores Reservoir's successful expansion into emerging markets and its ability to leverage high-quality rosters and strategic acquisitions to enhance its catalog.
2. **Expense Performance**:
- Unfortunately, the data for RSVR's expenses in Q3 2025, Q2 2025, Q1 2025, and Q4 2024 is not available.
- However, the company's overall financial performance indicates that Reservoir managed to control costs effectively, as evidenced by the improved gross margins and increased operating income before depreciation and amortization (OIBDA) reported in Q3 2025 compared to the previous year.
3. **Strategic Insights**:
- Reservoir's revenue growth in Q3 2025 can be attributed to its successful M&A activity and the company's operating leverage and cost controls.
- The launch of the PopIndia subsidiary in Mumbai, India, is a strategic move that has allowed Reservoir to capitalize on the growing Indian music market.
- The establishment of PopIndia, along with the signing of Yohani as its first publishing client, highlights Reservoir's commitment to nurturing local talent and acquiring music catalogs, which has contributed to the company's revenue growth.

In conclusion, Reservoir Media's Q3 2025 financial performance showcases the company's effective cost management and its strategic expansion into emerging markets, such as India through the PopIndia subsidiary, has proven to be a key driver of revenue growth.