Core Viewpoint - Beasley Broadcast Group, Inc. will report its 2023 fourth quarter and full year financial results on February 12, 2024, and will host a conference call to discuss these results [1]. Group 1: Financial Reporting - The financial results will be announced before the market opens on February 12, 2024 [1]. - A conference call and webcast will take place at 11:00 a.m. ET on the same day to review the results [1]. - Interested parties can access the conference call by dialing specific numbers and using a conference ID [1]. Group 2: Company Overview - Beasley Broadcast Group, Inc. was founded in 1961 and owns 59 AM and FM stations across 13 markets in the United States [3]. - The company reaches over 30 million unique consumers weekly through various platforms, including over-the-air, online, and mobile devices [3]. - Beasley engages millions of consumers through digital platforms such as Facebook, Twitter, and mobile applications [3].

Core Viewpoint - Beasley Broadcast Group, Inc. will report its 2023 fourth quarter and full year financial results on February 12, 2024, before market opens, followed by a conference call and webcast to discuss the results [1] Group 1: Financial Reporting - The financial results will be announced before the market opens on February 12, 2024 [1] - A conference call and webcast will take place at 11:00 a.m. ET on the same day to review the results [1] - Interested parties can access the conference call by dialing specific numbers and using a conference ID [1] Group 2: Company Background - Beasley Broadcast Group, Inc. was founded in 1961 and owns 59 AM and FM stations across 13 markets in the United States [3] - The company's radio stations reach over 30 million unique consumers weekly through various platforms [3] - Beasley engages millions of consumers through digital platforms such as Facebook, Twitter, and mobile applications [3]

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, 2023 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 ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q3 2023 Earnings Conference Call November 1, 2023 11:00 AM ET Company Participants Caroline Beasley - Chief Executive Officer Marie Tedesco - Chief Financial Officer Operator Good morning and welcome to Beasley Broadcast Group's Third Quarter 2023 Conference Call. Before proceeding, I'd 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 unc ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Operator Good morning, and welcome to Beasley Broadcast Group Second Quarter 2023 Conference Call. Now I will turn the call over to your host. Please go ahead. Unidentified Company Representative Thank you, operator. Good morning, everyone. Today's conference call and webcast will contain forward-looking statements about our future performa ...

PART I FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements.) The company's Q2 2023 financials show decreased assets, slightly lower revenue, improved net loss, and significantly reduced operating cash flow [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section presents the company's financial position, highlighting changes in assets, liabilities, and equity between periods Balance Sheet Summary (as of June 30, 2023 vs. Dec 31, 2022) | Balance Sheet Items | June 30, 2023 (in millions) | Dec 31, 2022 (in millions) | | :--- | :--- | :--- | | Cash and cash equivalents | $35.5 | $39.5 | | Total current assets | $104.4 | $105.7 | | FCC licenses | $477.2 | $487.2 | | Total assets | $698.4 | $714.9 | | Long-term debt, net | $283.2 | $285.5 | | Total liabilities | $488.6 | $491.5 | | Total stockholders' equity | $209.8 | $223.5 | - Total assets decreased by **$16.5 million**, primarily driven by a **$10.0 million** reduction in the value of FCC licenses and a **$4.0 million** decrease in cash and cash equivalents[9](index=9&type=chunk) [Condensed Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) This section details the company's revenue, expenses, and net loss for the quarter and six-month periods Q2 2023 vs Q2 2022 Performance | Metric | Q2 2023 (in millions) | Q2 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $63.5 | $64.8 | -2.1% | | Operating Loss | $(4.5) | $(4.5) | 0% | | Impairment Losses | $10.0 | $8.6 | +16.5% | | Net Loss | $(10.4) | $(14.5) | +27.8% | | Basic and Diluted EPS | $(0.35) | $(0.49) | +28.6% | Six Months 2023 vs Six Months 2022 Performance | Metric | Six Months 2023 (in millions) | Six Months 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $121.2 | $120.5 | +0.6% | | Operating Loss | $(4.1) | $(7.3) | +44.2% | | Impairment Losses | $10.0 | $10.5 | -4.2% | | Net Loss | $(14.0) | $(18.0) | +22.6% | | Basic and Diluted EPS | $(0.47) | $(0.61) | +23.0% | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section outlines the company's cash inflows and outflows from operating, investing, and financing activities Cash Flow Summary (Six Months Ended June 30) | Cash Flow Activity | 2023 (in millions) | 2022 (in millions) | | :--- | :--- | :--- | | Net cash provided by operating activities | $0.02 | $6.75 | | Net cash used in investing activities | $(2.02) | $(7.30) | | Net cash used in financing activities | $(2.05) | $(4.91) | | Net decrease in cash | $(4.04) | $(5.46) | - Net cash provided by operating activities plummeted from **$6.8 million** in the first six months of 2022 to just **$23,711** in the same period of 2023, indicating significant pressure on operational cash generation[20](index=20&type=chunk)[103](index=103&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed financial statements - In Q2 2023, the company recorded impairment losses of **$10.0 million** related to potential sales of certain audio assets. This follows impairments in Q2 2022 of **$2.8 million** on FCC licenses and **$5.9 million** on goodwill due to rising interest rates[30](index=30&type=chunk)[33](index=33&type=chunk)[36](index=36&type=chunk) Net Revenue by Segment (Six Months Ended June 30) | Segment | 2023 (in millions) | 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Audio | $97.9 | $100.8 | -2.9% | | Digital | $22.3 | $18.5 | +20.2% | | Other | $1.1 | $1.2 | -10.1% | | **Total** | **$121.2** | **$120.5** | **+0.6%** | - The company operates two reportable segments: Audio and Digital. The Digital segment shows strong revenue growth, while the core Audio segment is experiencing a decline[59](index=59&type=chunk) - In Q2 2023, the company repurchased **$3.0 million** of its **8.625%** senior secured notes for **66%** of the principal amount, resulting in a gain of **$1.0 million**[42](index=42&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses Q2 2023 revenue decline driven by Audio segment weakness offset by Digital growth, reduced operating expenses, significant impairment losses, and weakened but sufficient liquidity [Results of Operations](index=16&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance, detailing revenue and expense trends for the quarter and six-month periods - **Q2 2023 vs Q2 2022:** - Net revenue decreased by **$1.3 million** (**2.1%**), driven by a **$3.0 million** (**5.6%**) decline in Audio revenue, partially offset by a **$1.6 million** (**14.8%**) increase in Digital revenue[83](index=83&type=chunk)[85](index=85&type=chunk)[86](index=86&type=chunk) - Operating expenses decreased by **$2.3 million** (**4.3%**) due to cost management in the Audio segment[86](index=86&type=chunk) - **Six Months 2023 vs Six Months 2022:** - Net revenue increased slightly by **$0.7 million** (**0.6%**), as a **$3.8 million** (**20.2%**) growth in Digital revenue outweighed a **$2.9 million** (**2.9%**) decline in Audio revenue[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk) - Operating expenses decreased by **$1.7 million** (**1.6%**)[93](index=93&type=chunk) - Impairment losses of **$10.0 million** were recorded in Q2 2023 related to potential sales of audio assets. This compares to **$8.6 million** in impairments in Q2 2022 related to FCC licenses and goodwill due to rising interest rates[87](index=87&type=chunk)[94](index=94&type=chunk) [Liquidity and Capital Resources](index=19&type=section&id=Liquidity%20and%20Capital%20Resources) This section assesses the company's ability to meet its short-term and long-term financial obligations and fund operations - Primary liquidity sources are internally generated cash flow and cash on hand. The board has suspended quarterly dividend payments[96](index=96&type=chunk)[97](index=97&type=chunk) - The company has **$300.0 million** in **8.625%** senior secured notes due in 2026, with restrictive covenants limiting activities like paying dividends and incurring additional debt. As of June 30, 2023, **$287.0 million** principal amount was outstanding[98](index=98&type=chunk)[41](index=41&type=chunk) - Cash flow from operations for the first six months of 2023 was only **$24,000**, a sharp decline from **$6.8 million** in the same period of 2022, primarily due to lower cash receipts from revenue and higher cash paid for expenses[103](index=103&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=20&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk - The company is a smaller reporting company and is not required to provide this disclosure[105](index=105&type=chunk) [Item 4. Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2023, with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures are effective as of the end of the reporting period[106](index=106&type=chunk) - There were no changes in internal controls over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[106](index=106&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings.) The company is involved in routine litigation, none of which is expected to materially impact its financial condition or operations - The company is not a party to any lawsuit or proceeding that management believes is likely to have a material adverse effect on its financial condition or operations[108](index=108&type=chunk) [Item 1A. Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors.) No material changes to the company's risk factors have occurred since the last annual report on Form 10-K - No material changes to the company's risk factors have occurred since the last annual report[109](index=109&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=21&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company repurchased Class A common stock in Q2 2023 to fund withholding taxes related to restricted stock unit vesting under its equity incentive plan Repurchases of Equity Securities (Q2 2023) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2023 | 5,930 | $0.79 | | May 2023 | 6,977 | $1.05 | | June 2023 | 29,887 | $1.01 | - All share purchases were made to fund withholding taxes in connection with the vesting of restricted stock units under the company's equity incentive plan[110](index=110&type=chunk) [Item 3. Defaults Upon Senior Securities](index=21&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities.) The company reported no defaults on its senior securities during the current reporting period - None[111](index=111&type=chunk) [Item 6. Exhibits](index=22&type=section&id=Item%206.%20Exhibits.) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files - The exhibits include certifications from the Chief Executive Officer and Chief Financial Officer, as well as XBRL interactive data files[114](index=114&type=chunk)

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q1 2023 Earnings Conference Call April 26, 2023 11:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Conference Call Participants Operator Good morning, and welcome to Beasley Broadcast Group's First Quarter 2023 Conference 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 uncertainti ...

Part I: Financial Information [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) Net revenue increased 3.7% to $57.8 million, operating results improved to $0.4 million income, and net loss narrowed to $3.5 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $698.1 million, driven by lower cash and receivables, while liabilities and equity also saw reductions Balance Sheet Highlights | Balance Sheet Highlights | Dec 31, 2022 | Mar 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $39,534,653 | $35,894,663 | | Total current assets | $105,660,530 | $92,108,034 | | Total assets | $714,943,355 | $698,128,402 | | **Liabilities & Equity** | | | | Total current liabilities | $56,694,645 | $51,021,947 | | Long-term debt, net | $285,472,107 | $285,839,233 | | Total liabilities | $491,454,547 | $478,027,437 | | Total stockholders' equity | $223,488,808 | $220,100,965 | [Condensed Consolidated Statements of Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Loss) Net revenue grew 3.7% to $57.8 million, operating income reached $0.4 million, and net loss per share improved to ($0.12) Income Statement Highlights | Income Statement Highlights | Q1 2022 | Q1 2023 | | :--- | :--- | :--- | | Net revenue | $55,720,268 | $57,779,120 | | Total operating expenses | $58,437,022 | $57,366,075 | | Operating income (loss) | ($2,716,754) | $413,045 | | Net loss | ($3,738,945) | ($3,536,566) | | Net loss per share (Basic & Diluted) | ($0.13) | ($0.12) | - The improvement in operating income was significantly impacted by the absence of a **$1.9 million impairment loss** that was recorded in Q1 2022[9](index=9&type=chunk)[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow shifted to a $2.4 million outflow, leading to a $3.6 million net decrease in cash to $35.9 million Cash Flow Highlights | Cash Flow Highlights | Q1 2022 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $735,374 | ($2,445,165) | | Net cash used in investing activities | ($1,375,775) | ($1,169,280) | | Net cash used in financing activities | ($31,544) | ($25,545) | | Net decrease in cash and cash equivalents | ($671,945) | ($3,639,990) | | Cash and cash equivalents at end of period | $50,706,697 | $35,894,663 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail revenue by segment, with Digital growth, long-term debt of $290 million, and a $1.9 million impairment loss in Q1 2022 Net Revenue by Source | Net Revenue by Source | Q1 2022 | Q1 2023 | | :--- | :--- | :--- | | Audio | $47,365,145 | $47,417,966 | | Digital | $7,808,250 | $9,976,785 | | Other | $546,873 | $384,369 | | **Total** | **$55,720,268** | **$57,779,120** | - The company's long-term debt is primarily composed of **$290 million in 8.625% senior secured notes**, which mature in 2026. These notes carry restrictive covenants limiting actions such as incurring additional debt and paying dividends[20](index=20&type=chunk)[24](index=24&type=chunk) Segment Operating Income (Loss) | Segment Operating Income (Loss) | Q1 2022 | Q1 2023 | | :--- | :--- | :--- | | Audio | $3,202,280 | $5,743,608 | | Digital | ($597,977) | $22,422 | | Other | ($893,336) | ($658,572) | - In Q1 2022, the company recorded a **$1.9 million impairment loss** related to the FCC license for WWNN-AM, which was sold on April 1, 2022[19](index=19&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=12&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes 3.7% revenue growth to digital segment investment, impacting operating expenses and shifting cash flow to a $2.4 million outflow [Results of Operations](index=14&type=section&id=Results%20of%20Operations) Net revenue increased 3.7% driven by digital growth, operating expenses rose due to digital investment, and net loss narrowed to $3.5 million Revenue Change by Segment (Q1'23 vs Q1'22) | Revenue Change by Segment (Q1'23 vs Q1'22) | Change ($) | Change (%) | | :--- | :--- | :--- | | Audio | $52,821 | 0.1% | | Digital | $2,168,535 | 27.8% | | Other | ($162,504) | (29.7)% | | **Total Net Revenue** | **$2,058,852** | **3.7%** | - Management stated that the increase in digital revenue was due to continued growth in the digital segment, while the rise in operating expenses was primarily due to continued investment in that same segment[60](index=60&type=chunk)[61](index=61&type=chunk) - A **$1.9 million impairment loss** related to an FCC license was recorded in Q1 2022, which did not recur in Q1 2023, positively impacting the year-over-year comparison of operating results[61](index=61&type=chunk) [Liquidity and Capital Resources](index=15&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity relies on cash and internal cash flow, with senior notes imposing covenants, and operating cash flow shifted to a $2.4 million outflow - The company's primary sources of liquidity are internally generated cash flow and cash on hand. Future needs are expected to be met through these sources, additional borrowings, or equity offerings, as permitted by debt indentures[63](index=63&type=chunk)[66](index=66&type=chunk) - The indenture for the senior secured notes contains restrictive covenants that limit the company's ability to pay dividends, incur more debt, and make certain investments or asset sales[65](index=65&type=chunk) Cash Flow Comparison (Q1'23 vs Q1'22) | Cash Flow Comparison (Q1'23 vs Q1'22) | Q1 2022 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $735,374 | ($2,445,165) | | Net cash used in investing activities | ($1,375,775) | ($1,169,280) | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=16&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable as the company qualifies as a smaller reporting company - Disclosure about market risk is not required for smaller reporting companies[71](index=71&type=chunk) [Item 4. Controls and Procedures](index=17&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures are **effective** as of the end of the reporting period[72](index=72&type=chunk) - There were **no material changes** in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[72](index=72&type=chunk) Part II: Other Information [Item 1. Legal Proceedings](index=18&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation, none expected to materially impact financial condition or operations - The company is **not a party to any lawsuit or proceeding that management believes is likely to have a material adverse effect** on its financial condition or operations[73](index=73&type=chunk) [Item 1A. Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the 2022 Annual Report on Form 10-K - **No material changes** to the company's risk factors were reported for the period, referencing the disclosures in the 2022 Form 10-K[74](index=74&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=18&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 27,524 shares of Class A common stock to fund withholding taxes for restricted stock units Share Repurchases for Withholding Taxes | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 1 – 31, 2023 | 7,677 | $1.13 | | Feb 1 – 28, 2023 | — | — | | Mar 1 – 31, 2023 | 19,847 | $0.85 | - All shares purchased during the quarter were to fund withholding taxes in connection with the vesting of restricted stock units under the company's 2007 Equity Incentive Award Plan[76](index=76&type=chunk) [Item 3. Defaults Upon Senior Securities](index=18&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[77](index=77&type=chunk) [Item 4. Mine Safety Disclosures](index=18&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[77](index=77&type=chunk) [Item 5. Other Information](index=18&type=section&id=Item%205.%20Other%20Information) The company reported no other information for the period - None[77](index=77&type=chunk) [Item 6. Exhibits](index=19&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed, including CEO/CFO certifications and Interactive Data Files (XBRL) - Exhibits filed include: * CEO and CFO certifications pursuant to Rule 13a-14(a)/15d-14(a) * CEO and CFO certifications pursuant to 18 U.S.C. Section 1350 * Inline XBRL documents[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk)[82](index=82&type=chunk)[83](index=83&type=chunk)

Table of Contents Index to Financial Statements 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, 2022 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 ch ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q4 2022 Earnings Conference Call February 16, 2023 11:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Conference Call Participants Operator Greetings, and welcome to Beasley Broadcast Group Fourth Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Caroline Beasley, Chief Executive Officer. Please proceed. Caroline Beasley Thank you, Latanya. Go ...