Financial Data and Key Metrics Changes - Total net revenue for Q2 declined by 11.1% year over year on a same station basis, primarily due to weakness in agency business [10][19] - Operating expenses decreased by $4,600,000 or 9.3% year over year, reflecting cost containment measures [21] - Station operating income for the quarter was $8,200,000, with an SOI margin of 15.6% [22] Business Line Data and Key Metrics Changes - Digital revenue grew by 1.3% or 8.1% on a same station basis, accounting for 25% of total revenue [5][20] - The digital segment operating margin improved by 900 basis points quarter over quarter, from 17.8% to 26.8% [6] - Agency-related revenue declined significantly, with national agency revenue down 12.1% and local agency revenue down 24.7% year over year [16] Market Data and Key Metrics Changes - Local direct revenue increased by 1.7% year over year, now representing the majority of local sales mix [20] - Digital growth accelerated at 8.1% year over year on a same station basis and 22.5% quarter over quarter [20] - Ratings for the company's stations rose by 14% year over year in the critical adult 25-54 demographic [28] Company Strategy and Development Direction - The company is focused on advancing its digital roadmap, reducing structural costs, and improving capital position [5][4] - A strategic pivot towards a digitally native, local-first approach is underway, aiming to convert traditional agency clients into digital-first buyers [11][12] - Upcoming product launches, including Display Plus and a self-serve advertising platform, are designed to enhance client outcomes and reduce dependence on traditional sales channels [25][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges in the agency business, emphasizing that the decline is structural rather than cyclical [15][16] - The company expects continued softness in national and local agency channels, with total revenue pacing down high single digits [26] - Confidence remains in the strategic direction, with early signs of traction in digital and direct revenue streams [20][24] Other Important Information - The company has implemented approximately $30,000,000 in annualized expense reductions over the past year [13][32] - Cash on hand at the end of Q2 was $13,700,000, with capital expenditures of $600,000 in the second quarter [23] Q&A Session Summary Question: Can you update us on where the cost savings plan stands? - The company has taken cost actions that will result in approximately $30,000,000 in annualized savings, with expectations for 2025 expenses to be in the low $20,000,000 range [32] Question: How are CPMs trending? - Digital CPMs are holding steady, while traditional over-the-air CPMs are trending down due to declines in agency business [34] Question: Did you see the opportunity for more asset sales? - The company remains open to asset sales or swaps if they make sense strategically [35]

Company Overview - Beasley Media Group's future growth will be driven by operational efficiency in its core business and expansion of its digital capabilities[12] - The company operates in 12 US markets[13] - The company's multimedia platform enables local businesses to maximize audience reach[28] Financial Performance - Q2 2025 - Total net revenue was $53 million[47] - Digital revenue accounted for 25% of total net revenue[23] - Same-station digital revenue grew by 81% year-over-year[23] - Station Operating Income (SOI) was $82 million[47] - Adjusted EBITDA was $47 million[47] Revenue Mix - Audio revenue for Q2 2025 was $398 million[23] - Digital revenue for Q2 2025 was $132 million[22] - Local advertisers accounted for 76% of Q2 2025 revenue[25]

Financial Performance - Net revenue for the three months ended March 31, 2025, decreased by $5.5 million, or 10.1%, compared to the same period in 2024, totaling $48.9 million[53]. - Audio revenue decreased by $5.3 million, or 12.1%, primarily due to a decrease in agency revenue, while digital revenue remained relatively stable[55]. - The net loss for the three months ended March 31, 2025, was $2.7 million, compared to a net income of approximately $8,000 for the same period in 2024, marking a substantial decline[59]. Operating Expenses - Operating expenses decreased by $4.0 million, or 8.1%, during the same period, with audio operating expenses down by $2.0 million and digital operating expenses down by $2.0 million[56]. - Interest expense decreased significantly by $2.2 million, or 39.5%, due to the amortization of a deferred interest premium from a debt restructure[57]. Tax and Dividend - The effective tax rate for the three months ended March 31, 2025, was 37%, compared to 104% for the same period in 2024, influenced by state income taxes and non-deductible expenses[58]. - The company has suspended future quarterly dividend payments until it is determined that resumption is in the best interest of stockholders[61]. Debt and Restructuring - The company completed an exchange of $194.7 million of prior notes for new senior secured second lien notes and common stock, representing 72.9% of the aggregate principal amount outstanding[63]. - The company incurred approximately $6.0 million in debt restructuring costs, primarily consisting of legal fees and financial advisory services[65]. - The carrying amount of the debt was reduced by the fair value of shares issued to holders of Prior Notes, amounting to $2.2 million[65]. - The company capitalized approximately $2.6 million in fees related to the debt restructuring[65]. Liquidity and Cash Flow - The company’s primary sources of liquidity include internally generated cash flow and cash on hand, with needs for working capital, debt service, and capital expenditures[60]. - The company expects to have sufficient liquidity and capital resources to meet financial obligations for the next 12 months[68]. - Future liquidity needs are expected to be met through internally generated cash flow and other sources[67]. - Net cash used in operating activities decreased from $4.0 million in Q1 2024 to $3.5 million in Q1 2025, with a $3.1 million decrease in cash paid for operating expenses[71]. - Net cash provided by investing activities in Q1 2025 was $1.9 million, down from $5.1 million in Q1 2024, with proceeds of $2.7 million from property and equipment dispositions[72]. - The net increase in cash and cash equivalents was a decrease of $1.5 million in Q1 2025 compared to an increase of $1.0 million in Q1 2024[71]. Stock Activity - The company repurchased 1,220 shares of Class A Common Stock for approximately $9,000 during the three months ended March 31, 2025[66]. - The company has no off-balance sheet arrangements as of March 31, 2025[69].

Financial Performance - Beasley Broadcast Group reported first quarter revenue of $48.9 million, a decrease of 10.1% from $54.4 million in the same period last year[4]. - The company experienced an operating loss of $2.0 million in Q1 2025, compared to an operating loss of $1.1 million in Q1 2024, primarily due to a $5.5 million reduction in net revenue[7]. - Net loss for the first quarter was approximately $2.7 million, or $1.50 per diluted share, compared to a net income of $8 thousand, or $0.01 per diluted share, in Q1 2024[9]. - Total net revenue for Q1 2025 was $48,912,465, down 10.8% from $54,380,346 in Q1 2024[34]. - Same station net revenue decreased to $48,912,465 from $53,481,347, reflecting a decline of 8.7% year-over-year[34]. - Audio net revenue decreased to $38,153,370 from $43,428,127, a decline of 12.1% year-over-year[35]. - Digital net revenue for Q1 2025 was $10,759,095, slightly down from $10,952,219 in Q1 2024[36]. Adjusted EBITDA and Operating Expenses - Adjusted EBITDA increased to $1.1 million in Q1 2025 from $0.9 million in Q1 2024, reflecting benefits from strategic streamlining initiatives despite revenue shortfalls[10]. - Adjusted EBITDA for Q1 2025 was $1,134,792, an increase of 28.2% compared to $884,877 in Q1 2024[32]. - Operating expenses for Q1 2025 were $45,241,261, down 8.1% from $49,240,998 in Q1 2024[34]. - Same station audio operating expenses were $36,394,976, down from $38,319,415, indicating a reduction of 5.0%[35]. - Same station digital operating expenses decreased to $8,846,285 from $9,495,226, a reduction of 6.9%[36]. Revenue Composition - Digital revenue accounted for 22% of net revenue, with a year-over-year increase of 6% to $10.8 million on a same-station basis[6]. - Revenue from new business represented 18% of net revenue, indicating growth in advertiser engagement[7]. - Local revenue, including digital packages sold locally, constituted 71% of total net revenue[7]. Cash and Assets - The company reported a decline in cash and cash equivalents to $12.2 million as of March 31, 2025, down from $13.8 million at the end of 2024[28]. - Total assets decreased to $539.3 million from $549.2 million at the end of 2024[28]. Strategic Initiatives - Beasley aims to unlock margin expansion and accelerate digital evolution while navigating short-term market challenges[11]. - The company incurred severance expenses of $889,470 and non-recurring expenses of $494,961 in Q1 2025[32].

Beasley Broadcast Group (BBGI) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Company Participants Caroline Beasley - CEOLauren Burrows Coleman - CFO Operator Good morning, and welcome to Beasley Broadcast Group First Quarter twenty twenty five Earnings Call. Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors sect ...

Beasley Broadcast Group (BBGI) Q1 2025 Earnings Call May 07, 2025 11:00 AM ET Company Participants Caroline Beasley - CEOLauren Burrows Coleman - CFO Operator Good morning, and welcome to Beasley Broadcast Group First Quarter twenty twenty five Earnings Call. Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Factors sect ...

Financial Data and Key Metrics Changes - Total net revenue for Q1 2025 was $48.9 million, down 10.1% year over year, but down 8.5% on a same station basis [4][8] - Total operating expenses were $45.2 million, a decrease of nearly $4 million or 8.1% compared to the prior year [16] - Adjusted EBITDA for Q1 2025 was $1.1 million, up 28% from $900,000 in the prior year period [19][20] - Operating income for Q1 2025 was a loss of $2 million, compared to a loss of $1.1 million in the prior year [18] Business Line Data and Key Metrics Changes - Digital revenue accounted for 22% of total revenue, with digital segment operating income growing from $100,000 in Q1 2024 to $1.9 million in Q1 2025 [4][24] - Consumer services remained the largest revenue category, accounting for 30% of total revenue, but declined 15% year over year [10] - Legal services grew nearly 5% year over year, while HVAC grew 12% year over year [11][12] - National revenue, excluding political, declined 12.7%, while local direct revenue increased by 0.3% year over year [14][15] Market Data and Key Metrics Changes - Overall demand remained under pressure, with year-over-year declines consistent with broader industry trends [10] - Foreign automotive revenue was up 7.5%, while domestic automotive revenue declined 5% [13] - Local agency revenue declined 19.9% year over year, but local direct revenue showed resilience [14][15] Company Strategy and Development Direction - The company aims to accelerate digital growth, improve revenue quality, and execute with discipline [3] - A focus on high-margin digital products and deepening advertiser relationships is central to the company's strategy [4][5] - The company is committed to disciplined execution and long-term financial performance while investing in high-impact content and digital products [6][24] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges in a cautious advertising environment and broader economic headwinds [10][32] - Revenue is currently pacing down 10% in Q2, primarily driven by continued macroeconomic pressure [32] - The company remains focused on cost management while funding initiatives in digital, content, and technology [33] Other Important Information - The company ended Q1 2025 with $12.2 million in cash on hand, down from $13.8 million at the end of fiscal year 2024 [20] - Capital expenditures were $800,000 in the quarter compared to $900,000 in the prior year [21] Q&A Session Summary Question: Update on cost savings initiatives - The company has realized the full amount of cost reductions implemented in 2024 in Q1, with an additional $1.3 million in cuts made in Q1 [34] Question: National performance in 2024 - National revenue is weaker in 2024 compared to the previous year, with Boston down consistent with overall declines, while Philadelphia and New Jersey saw double-digit growth [35] Question: M&A discussions and opportunities - There have been discussions regarding M&A, but uncertainty in the economy has softened some of these discussions; the company remains open to evaluating beneficial swaps [36]

Q 1 2 0 2 5 E A R N I NG S P R E S E N TAT I O N M A Y 2 0 2 5 Disclaimer Forward-Looking Statements and Non-GAAP Financial Measures This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, EBITDA, Station Operating Income ("SOI", and "SOI Margin") (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures are not measures of ...

NAPLES, Fla., May 7, 2025 /PRNewswire/ -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) ("Beasley" or the "Company"), a multi-platform media company, today announced operating results for the three-month period ended March 31, 2025. For further information, the Company has posted a presentation to its website regarding the first quarter highlights and accomplishments that management will review on today's conference call. Conference Call and Webcast Today, May 7, 2025 at 11:00 a.m. ET (800) 715-9871 or +1 (6 ...

Financial Position - As of December 31, 2024, the company's FCC licenses represented 71% of total assets, indicating potential future impairment risks [106]. - The company had long-term debt of $220.1 million and equity of $147.2 million as of December 31, 2024, highlighting a substantial debt-to-equity ratio [107]. Dividend Policy - The company has suspended future quarterly dividend payments, which will depend on future operations, earnings, and capital requirements [108]. Revenue Sources and Risks - Stations located in Florida contributed 14% of net revenue in 2024, exposing the company to risks from hurricanes and extreme weather [110]. - The company relies on third-party contracts for distribution, which could be disrupted by various events, potentially affecting operating results [111]. Cybersecurity Concerns - Cybersecurity threats, including phishing and ransomware attacks, pose risks to the company's financial condition and operations [114]. Shareholder Control - The Beasley family controls 92% of the total voting power of the company's common stock, which may conflict with the interests of other shareholders [125]. - The Beasley family controls a significant portion of Class B and Class A Common Stock, impacting potential changes in control of the Company [130]. - Future sales of Class A Common Stock by the Beasley family could adversely affect its market price and complicate capital raising efforts [127]. Operational Challenges - The company faces challenges in integrating acquired stations, which may impact financial performance and operational efficiency [124]. - The company’s ability to attract and retain key personnel is critical for competitiveness, with potential losses to competing media entities [121]. Regulatory and Market Risks - The Company faces regulatory limitations on ownership and control transfers, which may adversely affect the trading price of Class A Common Stock [130]. - There may be a lack of an active market for Class A Common Stock, leading to potential price volatility and execution issues for investors [131]. - Historical fluctuations in stock price and trading volume may not correlate with the Company's operational performance [131]. - The Company’s operating results may fall below public market analysts' expectations, potentially leading to a significant decrease in stock price [131].