Townsquare Delivers Net Revenue and Adjusted EBITDA Growth in Q4 2024 Announces Increase in Dividend

Core Insights - Townsquare Media, Inc. reported a net revenue growth of +2.6% year-over-year for Q4 2024, with total digital net revenue increasing by +10.8% [2][11] - The company achieved an Adjusted EBITDA growth of +25.8% year-over-year in Q4 2024, driven by strong performance in digital segments and political revenue [2][11] - Townsquare's digital advertising segment, Townsquare Ignite, saw a net revenue increase of +15.5% year-over-year in Q4 2024 [2][11] Financial Performance - For Q4 2024, net revenue was $117.8 million, up from $114.8 million in Q4 2023, with digital advertising contributing $41.6 million [10][11] - The company reported a net income of $25.0 million for Q4 2024, an increase of $26.9 million compared to a net loss of $1.9 million in the same period last year [12][30] - Adjusted EBITDA for Q4 2024 was $31.2 million, up from $24.8 million in Q4 2023 [13][30] Segment Performance - Digital Advertising segment revenue increased by $5.6 million, or 15.5%, while Subscription Digital Marketing Solutions revenue rose by $0.4 million, or 1.9% in Q4 2024 [10][33] - Broadcast Advertising segment revenue decreased by $2.4 million, or 4.1%, in Q4 2024 [10][33] - For the full year 2024, Digital Advertising revenue increased by $8.3 million, or 5.5%, while Subscription Digital Marketing Solutions revenue decreased by $6.9 million, or 8.4% [14][33] Capital Management - The company repurchased $36 million of Senior Secured Notes and $24 million of common stock in 2024 [2][11] - Townsquare completed a debt refinancing, entering into a new $490 million credit agreement with maturities extended to 2030 [2][11] - The Board of Directors approved a quarterly cash dividend of $0.20 per share, reflecting a +1.3% increase from the previous dividend [3][2] Guidance - For Q1 2025, net revenue is expected to be between $98 million and $100 million, with Adjusted EBITDA projected between $17 million and $18 million [9] - For the full year 2025, net revenue is anticipated to be between $435 million and $455 million, with Adjusted EBITDA expected between $90 million and $98 million [9]