Cumulus Media | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 180.26 M

Revenue: As of FY2025 Q3, the actual value is USD 180.26 M, beating the estimate of USD 179.75 M.

EPS: As of FY2025 Q3, the actual value is USD -1.17, missing the estimate of USD -0.825.

EBIT: As of FY2025 Q3, the actual value is USD 11.93 M.

Broadcast Radio Revenue: For the three months ended September 30, 2025, broadcast radio revenue was $114.993 million, a decrease from $138.961 million in the same period in 2024. For the nine months ended September 30, 2025, broadcast radio revenue was $358.327 million, down from $414.808 million in 2024.
Digital Revenue: Digital revenue for the three months ended September 30, 2025, was $38.962 million, compared to $40.020 million in 2024. For the nine months ended September 30, 2025, digital revenue was $114.359 million, slightly up from $113.864 million in 2024.
Other Revenue: Other revenue for the three months ended September 30, 2025, was $26.300 million, up from $24.617 million in 2024. For the nine months ended September 30, 2025, other revenue was $80.935 million, compared to $79.828 million in 2024.

Net Loss: The net loss for the three months ended September 30, 2025, was $20.407 million, compared to a net loss of $10.321 million in 2024. For the nine months ended September 30, 2025, the net loss was $65.595 million, compared to $52.174 million in 2024.
Operating Loss: Operating loss for the three months ended September 30, 2025, was $4.309 million, compared to an operating income of $6.679 million in 2024. For the nine months ended September 30, 2025, the operating loss was $15.405 million, compared to $13.378 million in 2024.
Adjusted EBITDA: Adjusted EBITDA for the three months ended September 30, 2025, was $16.653 million, down from $24.051 million in 2024. For the nine months ended September 30, 2025, Adjusted EBITDA was $42.530 million, compared to $57.669 million in 2024.

Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was $8.186 million, compared to $20.130 million in 2024.
Net Cash Used in Investing Activities: For the nine months ended September 30, 2025, net cash used in investing activities was $14.474 million, compared to $0.979 million in 2024.
Net Cash Provided by Financing Activities: For the nine months ended September 30, 2025, net cash provided by financing activities was $49.238 million, compared to net cash used of $7.397 million in 2024.

Core Business Focus: The company plans to manage its business and anticipated liquidity needs for at least the next twelve months through its business model, current cash reserves, and borrowings under the 2020 Revolving Credit Facility. This expectation is based on assumptions including the performance of the business model, successful execution of operating plans, and current macroeconomic forecasts.
Non-Core Business: The company has entered into agreements to sell certain assets, including land and a building in Nashville, Tennessee, and recorded a $1.4 million impairment to adjust the carrying amount of the assets to fair value less estimated costs to sell.