Cumulus Media(US:CMLS) Globenewswire·2025-10-30 12:01Core Insights - Cumulus Media reported a challenging advertising environment but managed to gain market share in both broadcast and digital segments, with digital marketing services revenue increasing by 34% in Q3 2025 [2][4] - The company achieved a net revenue of $180.3 million for Q3 2025, a decrease of 11.5% year-over-year, and a net loss of $20.4 million [4][6] - For the nine months ended September 30, 2025, net revenue was $553.6 million, down 9.0% from the same period in 2024, with a net loss of $65.6 million [5][8] Financial Performance - Q3 2025 net revenue was $180.3 million, down from $203.6 million in Q3 2024, reflecting an 11.5% decline [4][6] - The net loss for Q3 2025 was $20.4 million compared to a net loss of $10.3 million in Q3 2024, marking a 97.7% increase in losses [6][7] - Adjusted EBITDA for Q3 2025 was $16.7 million, down 30.8% from $24.1 million in Q3 2024 [4][6] Revenue Breakdown - Total broadcast radio revenue for Q3 2025 was $115.0 million, a decrease of 17.2% from $139.0 million in Q3 2024 [9] - Digital revenue for Q3 2025 was $39.0 million, down 2.6% year-over-year, but increased by 8.4% when excluding the impact of discontinued relationships [7][9] - Digital marketing services now account for approximately 50% of total digital revenue, reflecting strong growth in this segment [7] Cost Management - The company has successfully reduced annualized fixed costs by $7 million in Q3 2025, bringing total year-to-date savings to $20 million [2][7] - Since 2019, total annualized fixed cost reductions have reached $182 million, representing over 30% [7] Balance Sheet and Debt - As of September 30, 2025, Cumulus Media had cash and cash equivalents of $90.4 million and total debt of $722.2 million [10][27] - The total debt at maturity was reported at $697.1 million, with net debt less total unamortized discount at $606.7 million [10][27]