CUMULUS MEDIA INC

Q2 FY2026 EarningsQ2 FY26 results significantly missed consensus expectations, with revenue of $167.9M falling 10.8% below the $188.3M estimate due to macroeconomic headwinds in spot and network advertising. EBIT of $2.3M (reported as operating income) was 70.9% below the $8.0M forecast, primarily impacted by $7.6M in reorganization costs. Despite the bankruptcy proceedings and a net loss of $9.2M, the bottom line was better than the expected $5.9M GAAP loss due to a 81.3% YoY reduction in interest expense following the default event.