Townsquare Reports Q3 Results

Core Insights - Townsquare Media reported a net revenue decrease of 7.4% year-over-year for Q3 2025, with a total net revenue of $106.8 million, meeting previously issued guidance [2][5][9] - The company achieved a Digital net revenue increase of 2.1% year-over-year, representing 55% of total net revenue, and a Digital Segment Profit increase of 3.6% year-over-year [2][5][9] - Townsquare reduced its outstanding debt by $17 million since the February 2025 refinancing, including a $6 million repurchase of Term Loans at a discount [2][11] Financial Performance - Q3 2025 net loss was $5.5 million, a decrease of $16.8 million from a net income of $11.3 million in Q3 2024 [2][11] - Adjusted EBITDA for Q3 2025 decreased 13.5% to $22.0 million, while Adjusted EBITDA excluding political revenue decreased 2.0% to $21.9 million [2][13] - Year-to-date net revenue for 2025 decreased 3.7% to $320.9 million compared to the same period in 2024 [16] Segment Performance - Digital Advertising net revenue decreased 1.5% in Q3 2025, while Subscription Digital Marketing Solutions net revenue decreased 2.3% [5][37] - Broadcast Advertising net revenue decreased 13.8% in Q3 2025, attributed to reduced advertising purchases by clients [9][37] - Townsquare Interactive, part of Subscription Digital Marketing Solutions, reported a Segment Profit growth of 21% year-over-year in Q3 2025 [2][11] Future Guidance - For Q4 2025, net revenue is expected to be between $105 million and $109 million, and Adjusted EBITDA is expected to be between $21.5 million and $23.5 million [8] - For the full year 2025, net revenue is projected to be between $426 million and $430 million, with Adjusted EBITDA expected between $88 million and $90 million [8] Dividend Announcement - The Board of Directors approved a quarterly cash dividend of $0.20 per share, payable on February 2, 2026 [3]