In addition to today's earnings release, there is an earnings presentation which you can access along with the webcast in the IR portion of our website. We have provided reconciliations of these non-GAAP measures to the most directly comparable GAAP measures in the earnings release, the earnings presentation, and on the Investor Relations section of our website. Our second quarter results were in line with our expectations as we delivered revenue of $96 million with an adjusted EBITDA margin of 59%. We ended the quarter with $137 million in cash while executing on all four pillars of our capital allocation strategy.
We closed six license agreements during the quarter and added a record 12 new customers in total. The progress we've made to date is in line with our expectations, we are reiterating our 2026 revenue guidance of $395 million-$435 million. Our non-pay TV recurring revenue is strong and thriving, growing 54% year-over-year in the second quarter, and is now nearly double the size of our pay TV recurring revenue. Despite the known headwinds in pay TV, including recent litigation matters, our pipeline is robust, and we are confident in our long-term trajectory.
As we look at the remainder of the year, our diversified and growing pipeline continues to provide multiple paths to achieve our revenue goals for 2026. YouTube TV, which is operated by Google, has become one of the most important players in the pay TV market, with subscriber growth that has dramatically outpaced many of its peers. I am pleased to announce that given the optimism in the trajectory of our business, and particularly the semiconductor market, we are raising our long-term revenue target to $600 million from $500 million annually. Our growth objective for our media business over the long term remains unchanged at $400 million annually.