Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 BEASLEY BROADCAST GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 65-0960915 (State or other jurisdiction of incorporation or organization) 3033 Riviera Drive, Suite 200 Naples, Florida 34103 (Address of principal executive offices and Zip Co ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q4 2024 Earnings Conference Call March 20, 2025 11:00 AM ET Company Participants Caroline Beasley - Chief Executive Officer Lauren Burrows Coleman - Chief Financial Officer Operator Good morning, and welcome to Beasley Broadcast Group Fourth Quarter and Full Year 2024 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 tha ...

Financial Performance - Beasley Broadcast Group reported fourth quarter revenue of $67.3 million, a 2.3% increase from $65.7 million in Q4 2023[3]. - The company generated $8.3 million in political revenue during Q4 2024, which helped offset declines in commercial advertising[6]. - Operating income remained steady at $7.6 million for both Q4 2024 and Q4 2023, despite the absence of a one-time gain in Q4 2023[7]. - Beasley reported a net loss of $2.1 million, or $1.17 per diluted share, compared to a net income of $6.4 million, or $4.25 per diluted share, in the prior year[8]. - Net revenue for the three months ended December 31, 2024, was $67.29 million, a 2.34% increase from $65.75 million in the same period of 2023[25]. - The company reported a net loss of $(2.06) million for the three months ended December 31, 2024, compared to a net income of $6.38 million in the same period of 2023[25]. - Basic net income (loss) per share for the three months ended December 31, 2024, was $(1.17), compared to $4.26 in 2023[25]. Revenue Breakdown - Digital revenue accounted for 17.1% of net revenue, totaling $11.5 million, reflecting a 4.1% year-over-year decline[5]. - Digital revenue grew 2.9% year-over-year to $46.7 million, accounting for 19.4% of net revenue[12]. - Local revenue, including digital packages sold locally, represented 71% of net revenue in FY 2024[5]. Expense Management - EBITDA per Indenture for Q4 2024 was $12.5 million, up from $6.2 million in Q4 2023, due to disciplined expense management[9]. - The company achieved approximately $20.0 million in annualized expense reductions, improving its leverage profile and financial flexibility[10]. - Total operating expenses decreased to $59.70 million for the three months ended December 31, 2024, down from $58.17 million in 2023, reflecting a reduction of 2.63%[25]. - The company incurred severance expenses of $1.20 million for the three months ended December 31, 2024, compared to $0.23 million in the same period of 2023, indicating a significant increase in restructuring costs[31]. Cash Flow and Debt - Net cash used in operating activities improved to $(3.71) million for the twelve months ended December 31, 2024, compared to $(4.68) million in 2023, indicating a 20.6% reduction in cash outflow[29]. - Cash and cash equivalents decreased to $13.77 million as of December 31, 2024, down from $26.73 million in 2023, representing a decline of 48.6%[27]. - Long-term debt decreased to $247.12 million as of December 31, 2024, from $264.20 million in 2023, reflecting a reduction of 6.5%[27]. Future Outlook - Beasley aims to drive sustainable revenue growth and expand digital offerings while optimizing its sales approach in 2025[10]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was $25.84 million, an increase of 17.5% compared to $21.97 million in 2023[31]. - Total assets decreased to $549.21 million as of December 31, 2024, from $574.27 million in 2023, a decline of 4.37%[27].

NAPLES, Fla., March 20, 2025 /PRNewswire/ -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) ("Beasley" or the "Company"), a multi-platform media company, today announced operating results for the three months and year ended December 31, 2024. For further information, the Company has posted a presentation to its website regarding the fourth quarter and fiscal year highlights and accomplishments that management will review on today's conference call. Conference Call and Webcast Today, March 20, 2025 at 11:00 ...

Core Viewpoint - Beasley Broadcast Group, Inc. will report its 2024 full-year financial results on March 20, 2025, and will host a conference call to discuss these results [1]. Group 1: Financial Reporting - The company will announce its financial results before the market opens on March 20, 2025 [1]. - A conference call and webcast will take place at 11:00 a.m. ET on the same day to review the results [1]. Group 2: Accessing the Conference Call - Interested parties can join the conference call by dialing (888) 672-2415 or +1 (646) 307-1963, using conference ID 1613596 [2]. - A live webcast will also be available on the company's website, with a replay accessible for five days post-event [2]. Group 3: Company Overview - Beasley Broadcast Group, Inc. was founded in 1961 and owns 57 AM and FM stations across 10 markets in the United States [4]. - The company's radio stations reach over 20 million unique consumers weekly through various platforms, including over-the-air, online, and mobile devices [4].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _______________ FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-29253 BEASLEY BROADCAST GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 65-0960915 (St ...

Financial Data and Key Metrics Changes - Total net revenue for Q3 2024 was $58.2 million, reflecting a decline of 3.2% compared to the previous year when adjusted for divestitures [9][17] - Same-station revenue increased by 0.5% for Q3, with a year-to-date decline of 1.6% [9][17] - Operating income for Q3 increased by 101.4% year-over-year, from a negative $85.5 million to a positive $1.2 million [20] - Interest expense decreased by $353,000 year-over-year to $6.1 million, reflecting benefits from debt reductions [21] Business Line Data and Key Metrics Changes - Digital segment revenue grew by 1.1% for the quarter, with same-station digital revenue increasing by 11.7% [12][24] - Same-station over-the-air local revenue decreased by 8.9%, driven by a 6.9% decline in local agency business [14] - Political revenue for the quarter was $2.7 million, bringing year-to-date political revenue to $3.7 million, up 23% from the same period in 2020 [11] Market Data and Key Metrics Changes - National advertising revenue was down 16% excluding political contributions, with same-station national revenue up 10.7% due to political spending [13] - The auto category saw an 11% year-over-year decline, representing 7.9% of total Q3 revenue [19] Company Strategy and Development Direction - The company is focused on improving its capital structure, having successfully completed a debt reduction of $47 million and extending maturities to August 2028 [7] - A reverse stock split was executed at a ratio of 1 for 20 to maintain NASDAQ listing and enhance share investability [8] - The company aims to grow digital revenue and has made strategic reductions in operating expenses projected to save over $5 million annually [27] Management's Comments on Operating Environment and Future Outlook - Management noted that advertisers are hesitant to book prior to election results, impacting national advertising [29] - The company expects revenue to be up in Q4, with pacing in the mid-single digits as of the call date [27][30] Other Important Information - The company experienced operational challenges due to Hurricane Halen, but successfully provided community support during the crisis [26] - The company ended Q3 with cash on hand of $27.8 million, down from $33.3 million at the end of Q2 2024 [22] Q&A Session Summary Question: Are you seeing any resumption in national advertising in Philadelphia and Boston? - Management indicated that there has not been a resumption yet, as advertisers are hesitant to book until after the election [29] Question: Post the exchange, how do you think about liquidity and the potential for more bond buybacks? - The company is focused on maintaining a minimum cash position but will seek opportunities for opportunistic bond buybacks [30] Question: When do you foresee year-over-year comps going positive again? - Management expects revenue to be up in Q4, with same-station revenue pacing up in the mid-single digits [30]

Core Viewpoint - Beasley Broadcast Group, Inc. will report its third quarter financial results for 2024 on November 5, 2024, and will host a conference call to discuss these results [1]. Company Overview - Beasley Broadcast Group is a multi-platform media company primarily operating radio stations across the United States, offering integrated marketing solutions to local and national advertisers [4]. - The company owns and operates 57 AM and FM stations in various large- and mid-size markets, including cities like Atlanta, Boston, and Philadelphia [4]. - Approximately 20 million consumers engage with the company's radio stations weekly through various platforms, including over-the-air, online, and mobile devices [4].

Core Viewpoint - Beasley Broadcast Group, Inc. has successfully completed an exchange offer for its existing senior secured notes, alongside a cash tender offer and a new notes issuance, aimed at restructuring its debt and improving financial flexibility [1][2]. Group 1: Exchange Offer Details - Approximately $194.7 million of existing notes were exchanged for new 9.200% senior secured notes due August 1, 2028, at an exchange ratio of 95.0% [2]. - Holders received a pro rata share of 179,384 shares of Class A Common Stock and a consent fee of $5.00 per $1,000 principal amount of existing notes tendered [2]. - The company exercised an option to increase the cash paid to exchanging holders by a pro rata portion of $700,000, from a total of $3.0 million available for this purpose [3]. Group 2: Tender Offer and New Notes - The company purchased $68.0 million of existing notes at a purchase price of 62.5% plus accrued and unpaid interest as part of the tender offer [2]. - A total of $30.9 million of new superpriority senior secured notes due 2028 were issued in the new notes offer [1][2]. Group 3: Support and Legal Counsel - A supporting holder, representing approximately 73% of existing notes, agreed to backstop the new notes offer and waived the minimum participation condition for the exchange offer [4]. - Latham & Watkins LLP served as legal counsel to the company, while Moelis & Company LLC acted as the exclusive financial advisor and dealer manager [4].

NAPLES, Fla., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (the “Company”), a multi-platform media company, today announced that the Withdrawal Deadline, Expiration Date and Subscription Form Delivery Date in connection with the previously announced exchange offer (the “Exchange Offer”), tender offer (the “Tender Offer”), and offering of new notes (the “New Notes Offer” and together with the Exchange Offer and the Tender Offer, collectively, the “Offers”) by its wholly owne ...