Financial Data and Key Metrics Changes - For Q3 2024, consolidated revenue was $97.2 million, a 25% increase compared to Q3 2023, driven by political advertising revenue and growth in Smadex [19] - Net loss attributable to common stockholders was $12 million, compared to net income of $2.7 million in the prior year, primarily due to an income tax loss [20] - Corporate expenses decreased by 48% to $6.9 million compared to Q3 2023, attributed to a reduction in personnel and related compensation [25][26] Business Line Data and Key Metrics Changes - Media segment revenue was $59.8 million, up 23% year-over-year, driven by political advertising revenue [21] - Operating profit for the Media segment was $11.7 million, a 19% increase, with an operating margin of 20% [21] - Advertising Technology and Services segment revenue was $37.4 million, a 30% increase, with operating margins improving to 5% from 3% year-over-year [23][24] Market Data and Key Metrics Changes - Political revenue for 2024 is expected to exceed the previous high in 2022, although it will not meet the most ambitious expectations due to lower spending in key races [11] - The allocation to Spanish language media in critical races was higher than the percentage of registered Latino voters, indicating a positive trend for future political advertising [12] Company Strategy and Development Direction - The company is focused on serving the Latino audience and enhancing its media business through significant investments in news production and political sales [7][8] - The reorganization of business units into two segments aims to drive revenue and reduce expenses, aligning with operational structures [16][17] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the financial outcomes and the effectiveness of their audience engagement strategies during the election cycle [13] - Looking ahead, revenue from the Media segment is currently pacing at a 28% increase for Q4 2024, while the Advertising Technology and Services segment is pacing at a 30% increase [22][24] Other Important Information - Cash capital expenditures for Q3 were $1.6 million, representing 14% of net cash provided by operating activities, lower than the previous year [28] - Free cash flow for Q3 2024 was $9.3 million, down from $17 million in Q3 2023, primarily due to the sale of the EGP business [29] - The company paid $4.5 million in dividends during Q3, representing 41% of net cash provided by operating activities [30] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating the end of the conference call [32]

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) Q1 2024 saw a **$51.7 million net loss** due to a **$49.4 million impairment charge** from Meta ASP program termination, despite **$277.4 million revenue** Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2024 ($ in thousands) | December 31, 2023 ($ in thousands) | Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | 128,410 | 105,739 | ▲ | | Goodwill | 55,272 | 90,672 | ▼ | | Total assets | 804,990 | 865,946 | ▼ | | Total liabilities | 591,615 | 599,660 | ▼ | | Total stockholders' equity | 173,535 | 222,528 | ▼ | Condensed Consolidated Statements of Operations Highlights (Unaudited) | Metric | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | 277,445 | 239,006 | ▲ 16% | | Operating income (loss) | (55,899) | 6,668 | ▼ | | Impairment charge | 49,438 | - | N/A | | Net income (loss) | (51,669) | 1,699 | ▼ | | Net income (loss) attributable to common stockholders | (48,890) | 2,041 | ▼ | | Net income (loss) per share, basic and diluted | (0.55) | 0.02 | ▼ | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Q1 2024 ($ in thousands) | Q1 2023 ($ in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | 33,375 | 36,695 | | Net cash provided by (used in) investing activities | 6,099 | (563) | | Net cash provided by (used in) financing activities | (16,797) | (5,365) | - On **March 4, 2024**, Meta announced its intention to wind down its Authorized Sales Partners (ASP) program by **July 1, 2024**, triggering an interim impairment test as Meta represented approximately **53%** of the company's consolidated revenue in Q1 2024[49](index=49&type=chunk) - As a result of the Meta ASP program termination, the company recorded a goodwill impairment charge of **$35.4 million** and an intangible assets impairment charge of **$14.0 million** in the digital segment during Q1 2024[52](index=52&type=chunk)[55](index=55&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management reported **16% revenue growth** to **$277.4 million**, but the **Meta ASP program termination** led to a **$49.4 million impairment charge** and a **$55.9 million operating loss** - The company received communication from Meta on **March 4, 2024**, about its intent to wind down the ASP program globally by **July 1, 2024**, which management expects to have a material adverse effect on future revenue and cash flow, prompting a review of its digital strategy and cost structure[153](index=153&type=chunk)[159](index=159&type=chunk) Segment Revenue - Q1 2024 vs Q1 2023 | Segment | Q1 2024 Net Revenue ($ in thousands) | Q1 2023 Net Revenue ($ in thousands) | % Change | | :--- | :--- | :--- | :--- | | Digital | 237,491 | 196,482 | 21% | | Television | 28,549 | 30,312 | (6)% | | Audio | 11,405 | 12,212 | (7)% | | **Total** | **277,445** | **239,006** | **16%** | Segment Operating Profit (Loss) - Q1 2024 vs Q1 2023 | Segment | Q1 2024 Operating Profit ($ in thousands) | Q1 2023 Operating Profit ($ in thousands) | % Change | | :--- | :--- | :--- | :--- | | Digital | 2,339 | 3,556 | (34)% | | Television | 2,655 | 7,555 | (65)% | | Audio | (178) | 1,038 | * | | **Total** | **4,816** | **12,149** | **(60)%** | - The company prepaid **$10.0 million** of its 2023 Credit Facility in March 2024, applying **$8.75 million** to the Term A Facility and **$1.25 million** to the Revolving Credit Facility[159](index=159&type=chunk)[207](index=207&type=chunk) - Management believes its current cash position of **$128.4 million**, plus **$4.3 million** in marketable securities, is sufficient to meet operating expenses and debt service for at least the next twelve months, despite the expected negative impact from the Meta ASP program termination[203](index=203&type=chunk)[204](index=204&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company faces market risk from **$197.8 million variable-rate debt** and growing foreign currency exposure, with a **100 basis point SOFR increase** raising annual interest expense by **$2.0 million** - As of March 31, 2024, the company had **$197.8 million** of variable-rate bank debt, where a hypothetical **1% (100 basis points)** increase in the SOFR would increase annual interest expense by approximately **$2.0 million**[217](index=217&type=chunk)[218](index=218&type=chunk) - The company has **growing foreign currency risks** from its digital operations in Latin America, Asia, and other regions, with revenue and expenses denominated in various foreign currencies, but has not used hedging contracts to date[219](index=219&type=chunk)[223](index=223&type=chunk) [Controls and Procedures](index=35&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management, including the CEO and CFO, concluded that disclosure controls and procedures were **effective** as of March 31, 2024, with **no material changes** to internal control over financial reporting - Management, including the CEO and CFO, concluded that as of the end of the quarter, the company's disclosure controls and procedures were **effective**[224](index=224&type=chunk) - **No changes** in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[227](index=227&type=chunk) [PART II. OTHER INFORMATION](index=37&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=37&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) Management believes any liability from ongoing legal proceedings will **not materially adversely affect** the company's financial position, results, or cash flows - In the opinion of management, any liability from outstanding claims and legal proceedings will **not materially adversely affect** the company's financial position, results of operations, or cash flows[229](index=229&type=chunk) [Risk Factors](index=37&type=section&id=ITEM%201A.%20RISK%20FACTORS) New risk factors include **credit risk** from Meta ASP termination and the potential need for **additional financing**, with no guarantee of availability - The company faces **credit risk** related to the potential uncollectibility of accounts receivable from advertisers after the termination of its ASP relationship with Meta, which is set to occur by **July 1, 2024**[230](index=230&type=chunk) - The company may need to seek **additional equity or debt financing** if its liquidity becomes insufficient to fund business activities, particularly as a result of the Meta ASP program termination, with **no guarantee** that such capital will be available on favorable terms, or at all[231](index=231&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=37&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES,%20USE%20OF%20PROCEEDS,%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company made **no Class A common stock repurchases** in Q1 2024, having cumulatively repurchased **1.8 million shares** for **$11.3 million** under its program - **No shares** of Class A common stock were repurchased during the three-month periods ended March 31, 2024, and 2023[233](index=233&type=chunk) - As of March 31, 2024, the company has repurchased a total of **1.8 million shares** for an aggregate price of **$11.3 million** under its current share repurchase program[233](index=233&type=chunk) [Defaults Upon Senior Securities](index=37&type=section&id=ITEM%203.%20DEFAULTS%20UPON%20SENIOR%20SECURITIES) No defaults upon senior securities were reported [Mine Safety Disclosures](index=37&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) Mine safety disclosures are not applicable to the company's operations [Other Information](index=37&type=section&id=ITEM%205.%20OTHER%20INFORMATION) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - **No directors or officers** informed the company of the adoption or termination of any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" during the quarter[236](index=236&type=chunk) [Exhibits](index=38&type=section&id=ITEM%206.%20EXHIBITS) This section lists exhibits filed, including CEO and CFO certifications and Inline XBRL data files

Entravision Communications Page 1 of 8 Exhibit 99.1 ENTRAVISION COMMUNICATIONS CORPORATION REPORTS FIRST QUARTER 2024 RESULTS Declares Quarterly Cash Dividend of $0.05 Per Share Payable on June 28, 2024 SANTA MONICA, CALIFORNIA, May 2, 2024 – Entravision Communications Corporation (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced financial results for the three-month period ended March 31, 2024. "On March 4, 2024, we received a communication from Meta that it ...

There’s no getting around it. Considering penny stocks to buy on the dip is a high-risk endeavor. Given the volatile nature of stocks trading for $5 per share or less, what may seem like a bottom fisher’s buy at first can easily turn into a “falling knife” type situation.But while most of the thousands of names in “penny stock territory” should be approached cautiously, if not avoided, there are few diamonds in the rough within this risky yet opportunity-rich area of the market.For instance, there are many ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--In a commitment to empower Latino communities across the US, Entravision has partnered with The National Association of Latino Elected and Appointed Officials (NALEO) Educational Fund. Through this partnership, Entravision will amplify the organization’s registration tool on its El Botón music app and elboton.com. El Botón serves as a multifaceted digital hub, offering Latinos access to music, podcasts, entertainment news in Spanish, and now crucial civic resources. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTIONS 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 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 1-15997 ENTRAVISION COMMUNICATIONS CORPORATION (Exact name of ...

Entravision Communications (NYSE:EVC) stock is falling on Wednesday with the release of the advertising, media, and technology solutions company’s Q4 2023 earnings report.In that earnings report, Entravision Communications provides investors with an update on its partnership with Meta Platforms (NASDAQ:META). The big news here is that Meta is winding down its Authorized Sales Partner (ASP) program.This has Meta intending to end its partnership with all ASPs by July 1, 2024. That includes Entravision Communi ...

Entravision Communications Page 1 of 9 Exhibit 99.1 ENTRAVISION COMMUNICATIONS CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS Provides Update on Digital Commercial Partnership with Meta Platforms Declares Quarterly Cash Dividend of $0.05 Per Share Payable on March 29, 2024 Company to Cancel Today's Conference Call SANTA MONICA, CALIFORNIA, March 5, 2024 – Entravision Communications Corporation (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced f ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, announced that it will release its fourth quarter and full year 2023 financial results after market close on Tuesday, March 5, 2024. The Company will host a conference call that day at 5:00 p.m. Eastern Time to discuss the fourth quarter and full year 2023 results. To access the conference call, please dial (844) 836-8739 (U.S.) or (412) 317-5440 (International) ten minutes ...

SANTA MONICA, Calif.--(BUSINESS WIRE)--Entravision Communications Corporation (NYSE: EVC), a leading global advertising solutions, media and technology company, proudly announced the opening of its new state-of-the-art news facility in Las Vegas. This milestone underscores the Company's three decade commitment of empowering the Latino community through trusted news and resources. Latinos account for 30% of the state's population making Nevada a pivotal market for Entravision in its mission to amplify Lat ...