Pandora (PANDA) Q4 Revenue Down; Posts Lower FY26 Outlook

Pandora (PANDA) reported Q4 revenue下滑 14% to $28.9M, missing analyst expectations of $33.5M. The decline follows a 23% drop in subscribers to 12.8 million, pressured by free streaming competition and shifting consumer habits. The company guided to a non-GAAP loss of $0.27 per share for full-year 2026, down from a breakeven forecast in 2025, citing continued ad revenue weakness and margin compression.