Cumulus Media(US:CMLS)2026-04-10 12:01Revenue Performance - For Q4 2025, Cumulus Media reported net revenue of $188.1 million, a decrease of 14.0% from $218.6 million in Q4 2024[3][5] - For the full year 2025, net revenue was $741.7 million, down 10.3% from $827.1 million in 2024[4][9] - As reported net revenue for Q4 2025 was $188,074 thousand, compared to $218,576 thousand in Q4 2024, reflecting a decrease of approximately 13.9%[23] - Excluding political revenue, net revenue for Q4 2025 was $186,777 thousand, down from $208,458 thousand in Q4 2024[23] - As reported net revenue for the year ended December 31, 2025 was $741,695 thousand, down from $827,076 thousand in 2024, a decrease of approximately 10.3%[23] - Excluding political revenue, net revenue for the year ended December 31, 2025 was $737,763 thousand, compared to $808,471 thousand in 2024[23] Loss and Improvement - The net loss for Q4 2025 was $135.1 million, an improvement of 41.5% compared to a net loss of $231.1 million in Q4 2024[5][6] - The full year net loss for 2025 was $200.7 million, a 29.1% improvement from a net loss of $283.3 million in 2024[4][5] - GAAP net loss for Q4 2025 was $135,107 thousand, an improvement from a loss of $231,080 thousand in Q4 2024[22] - For the year ended December 31, 2025, GAAP net loss was $200,702 thousand, an improvement from a loss of $283,254 thousand in 2024[22] Adjusted EBITDA - Adjusted EBITDA for Q4 2025 was $9.5 million, a decrease of 62.2% from $25.0 million in Q4 2024[5][6] - For the full year 2025, Adjusted EBITDA was $52.0 million, down 37.1% from $82.7 million in 2024[4][5] - Adjusted EBITDA for Q4 2025 was $9,476 thousand, down from $25,039 thousand in Q4 2024[22] - Adjusted EBITDA for the year ended December 31, 2025 was $52,006 thousand, compared to $82,708 thousand in 2024[22] Revenue Breakdown - Broadcast radio revenue for Q4 2025 was $116.2 million, a decline of 22.2% from $149.3 million in Q4 2024[6] - Digital revenue for Q4 2025 was $36.9 million, a decrease of 8.5% from $40.3 million in Q4 2024[6] - Political revenue impact for Q4 2025 was a reduction of $1,297 thousand, compared to $10,118 thousand in Q4 2024[23] - Political EBITDA impact for the year ended December 31, 2025 was a reduction of $3,539 thousand, compared to $16,745 thousand in 2024[23] Financial Restructuring - Cumulus Media has filed for prepackaged Chapter 11 proceedings to restructure its debt[10] Cash Position - The company reported cash and cash equivalents of $81.98 million as of December 31, 2025, an increase from $63.84 million in 2024[7]