Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-29253 BEASLEY BROADCAST GROUP, INC. (Exact name of registrant as specified in its ch ...

Financial Data and Key Metrics Changes - Fourth quarter net revenue increased by 1.8% year-over-year to $72 million, with full year revenue up 6.2% to $256 million [3][9] - Excluding political revenue, fourth quarter revenue declined by 4.8% [9] - Full year operating income declined to a negative $36.1 million, impacted by a noncash impairment charge of $54.7 million [14] Business Line Data and Key Metrics Changes - Digital revenue grew by 12.2% year-over-year in Q4, now representing almost 17% of total revenue, up from 15% in the previous year [6] - Audio revenue slightly decreased by 0.4% in Q4, with declines in national, network, and barter offsetting increases in new business and political revenue [6] - Consumer services remained the largest revenue category at 28.6% of total revenue, with a decrease of 0.5% year-over-year [11] Market Data and Key Metrics Changes - National revenue, excluding political, declined by 19.2% for the full year and represented 12.2% of total revenue in Q4 [5] - Political revenue contributed $5.1 million in Q4, helping to offset declines in national revenue [3] - Sports betting revenue in Q4 was $3.3 million, accounting for 4.6% of total revenue [7] Company Strategy and Development Direction - The company is prioritizing the growth of its digital platform, aiming for digital revenue to account for 20% to 30% of total revenue in 2023 [6] - A cost reduction program was implemented, expected to save about $5 million in 2023 [7] - The company is focused on improving overall margins and generating free cash flow while monitoring economic conditions [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about revenue growth despite economic headwinds, particularly due to the digital business [17] - The company expects to be free cash flow positive in 2023, with local revenue potentially flat and national revenue declining [27] - Management noted that hiring experienced personnel for digital roles is easing, but entry-level hiring remains challenging [25] Other Important Information - The company ended the quarter with cash on hand of $39.5 million, allowing flexibility for debt reduction or digital investments [16] - Capital expenditures for the quarter were $2.4 million, with expectations to normalize in the range of $4 million to $5 million in 2023 [16] Q&A Session Summary Question: What is the pacing for first quarter for local versus national versus digital? - Local is pacing up 6%, national is pacing down 12%, and digital is pacing up 15% [21] Question: Can you touch on the trends in digital margins? - Digital margins increased from about 11% in 2022 to an expected 20% in 2023 [23] Question: Are there any current restraints in digital growth, such as hiring experienced staff? - Hiring experienced personnel is easing, but entry-level positions are harder to fill [25] Question: How should the numbers look under a mild recession for 2023? - The company expects revenue growth despite a mild recession, with local revenue flat and national down [27] Question: Does it make sense to buy back bonds trading in the mid-60s? - Yes, the company aims to reduce debt and leverage, but will monitor economic conditions before making decisions [29]

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q3 2022 Earnings Conference Call November 7, 2022 10:00 AM ET Company Participants Barbara Beasley - Chairman & CEO Marie Tedesco - CFO Conference Call Participants Operator Good morning, and welcome to Beasley Broadcast Group's Third Quarter 2022 Conference Call. Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward-looking statements about our future performance and results of operations that involve risks and ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q2 2022 Results Earnings Conference Call August 1, 2022 10:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Operator Good morning, ladies and gentlemen, and welcome to the Beasley Broadcast Group's Second Quarter 2022 Conference Call. Before proceeding, I would like to emphasize that, today's conference call and webcast will contains forward-looking statements about our future performance and results of operations that involve risks and unc ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q1 2022 Earnings Conference Call May 9, 2022 10:00 AM ET Company Participants Caroline Beasley - CEO Marie Tedesco - CFO Operator Good morning, and welcome to the Beasley Broadcast Group First Quarter 2022 Conference Call. Before proceeding, I would like to emphasize that today's conference call and webcast will contains forward-looking statements about our future performance and results of operations that involve risks and uncertainties described in the Risk Fact ...

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Q4 2021 Earnings Conference Call February 8, 2022 10:00 AM ET Company Participants Caroline Beasley - Chief Executive Officer Marie Tedesco - Chief Financial Officer Conference Call Participants Operator Good morning and welcome to the Beasley Broadcast Group's Fourth Quarter 2021 Conference Call. Today's conference is being recorded. Before proceeding, I would like to emphasize that today's conference call and webcast will contain forward-looking statements about ...