Cumulus Media(US:CMLS)2025-10-30 12:03Revenue Performance - Total net revenue for Q3 2025 was $180.3 million, a decline of 11.5% year-over-year[3] - Digital revenue reached $39.0 million, a decrease of 2.6% year-over-year, but an increase of 8.4% when excluding the impact from discontinued relationships[3] - For the nine months ended September 30, 2025, net revenue was $553.6 million, a decrease of 9.0% year-over-year[5] - Net revenue for the three months ended September 30, 2025, was $180,255, a decrease of 11.4% from $203,598 in the same period of 2024[23] - For the nine months ended September 30, 2025, net revenue was $553,621, down 9.0% from $608,500 in the same period of 2024[25] - Political revenue impact on net revenue for the three months ended September 30, 2025, was a reduction of $654[24] Profitability and Loss - The company recorded a net loss of $20.4 million in Q3 2025, compared to a net loss of $10.3 million in Q3 2024[3] - The net loss for the three months ended September 30, 2025, was $20,407, compared to a net loss of $10,321 in the same period of 2024[24] - Adjusted EBITDA for Q3 2025 was $16.7 million, down 30.8% from $24.1 million in Q3 2024[3] - Adjusted EBITDA for the three months ended September 30, 2025, was $16,653, down 30.8% from $24,051 in the prior year[24] - Adjusted EBITDA for the nine months ended September 30, 2025, was $42,530, a decrease of 26.2% from $57,669 in the prior year[25] Expenses and Cost Management - Year-to-date fixed cost reductions totaled $20 million, with total annualized fixed cost reductions since 2019 amounting to $182 million, or over 30%[3] - Total operating expenses for the three months ended September 30, 2025, were $184,564, compared to $196,919 in the same period of 2024, reflecting a decrease of 6.3%[23] - The company reported restructuring costs of $1,732 for the three months ended September 30, 2025, compared to $357 in the same period of 2024[24] Debt and Cash Position - Cash and cash equivalents at the end of Q3 2025 were $90.4 million[3] - Total debt as of September 30, 2025, was $722.2 million, with net debt less total unamortized discount at $606.7 million[3] - Total debt principal, gross, as of September 30, 2025, was $722,214, an increase from $672,994 in 2024[25] - Net debt less total unamortized discount as of September 30, 2025, was $606,703, compared to $589,963 in the previous year[25] Capital Expenditures - The company ended Q3 2025 with capital expenditures of $4.4 million, compared to $3.3 million in Q3 2024[8]