Revenue: As of FY2026 Q1, the actual value is USD 164.45 M.

EPS: As of FY2026 Q1, the actual value is USD -0.96.

EBIT: As of FY2026 Q1, the actual value is USD -14.56 M.

Overall Financial Performance

Cumulus Media Inc. reported a net revenue of $164.4 million for the three months ended March 31, 2026, which is a 12.2% decrease compared to $187.3 million for the same period in 2025. The company’s net loss improved significantly to -$16.9 million in Q1 2026, from -$32.4 million in Q1 2025, representing a 47.9% improvement. Adjusted EBITDA for Q1 2026 was $2.7 million, a 23.6% decrease from $3.5 million in Q1 2025. The operating loss for Q1 2026 was -$26.4 million, compared to an operating loss of -$14.8 million in Q1 2025.

Segment Revenue

• Total Broadcast Radio Revenue: $100.7 million in Q1 2026, down 19.3% from $124.9 million in Q1 2025. This includes Spot revenue of $67.7 million (down 16.3% from $81.0 million) and Network revenue of $33.0 million (down 24.9% from $43.9 million).
• Digital Revenue: $33.5 million for Q1 2026, an 8.3% decrease from $36.6 million in Q1 2025.
• Other Revenue: Increased by 16.5% to $30.2 million in Q1 2026, up from $25.9 million in Q1 2025.

Operational Costs

Total operating expenses decreased to $190.9 million in Q1 2026 from $202.1 million in Q1 2025. Key operational costs include Content costs of $65.9 million (down from $79.3 million), Selling, general & administrative expenses of $84.4 million (down from $93.4 million), and Depreciation and amortization of $12.3 million (down from $14.8 million). Corporate expenses rose to $13.3 million from $11.3 million, while Stock-based compensation expense decreased to $0.5 million from $0.8 million. Restructuring costs significantly increased to $14.9 million in Q1 2026 from $2.5 million in Q1 2025. The company reported a gain on sale or disposal of assets or stations of -$0.4 million in Q1 2026, compared to zero in the prior year period.

Cash and Capital Expenditures

Cash and cash equivalents as of March 31, 2026, stood at $57.6 million, a decrease from $82.0 million as of December 31, 2025. Capital expenditures for Q1 2026 were $3.9 million, down from $5.5 million in Q1 2025.

Unique Metrics (Non-GAAP)

Adjusted EBITDA, excluding the impact of political EBITDA, was $1.5 million for Q1 2026, compared to $2.8 million for Q1 2025. Net revenue, excluding the impact of political revenue, was $163.1 million for Q1 2026, compared to $186.5 million for Q1 2025.

Outlook / Guidance

Cumulus Media Inc.’s CEO stated that the Court’s recent approval of their reorganization plan is a pivotal milestone for strengthening their financial foundation and positioning the company in the evolving media landscape. The company remains focused on leveraging its core strengths to drive long-term value creation while awaiting FCC approval of the plan.