Cumulus Media (CMLS) came out with a quarterly loss of $1.88 per share versus the Zacks Consensus Estimate of a loss of $1.29. This compares to loss of $0.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -45.74%. A quarter ago, it was expected that this radio station owner would post a loss of $0.58 per share when it actually produced a loss of $0.39, delivering a surprise of 32.76%.Over the last four quarters, the company h ...

Financial Data and Key Metrics Changes - Total revenue decreased by 6.4%, and down 3.7% excluding political and the impact of The Daily Wire, aligning with previous pacing commentary [17] - EBITDA for the quarter was $3,500,000, reflecting ongoing challenges in the advertising market [17] - Digital revenue grew by 6% overall, or 20% excluding the loss of The Daily Wire relationship [17] Business Line Data and Key Metrics Changes - Digital Marketing Services (DMS) revenue increased by 30% in Q1, driven by a 41% increase in total customers and a 16% increase in average campaign order size [7][17] - Podcasting revenue was down 13% when including the negative comp from Daily Wire, but up close to 40% when excluding it [9] - Streaming revenue increased by 4% during the quarter, benefiting from bringing the sales function in-house [10] Market Data and Key Metrics Changes - Advertising spending saw pullbacks in key categories such as automotive, retail, and consumer packaged goods (CPG), while insurance and financial categories showed growth [11][17] - The Beyond Home market business grew by 48% in the quarter, following a 45% growth in the previous quarter [12] Company Strategy and Development Direction - The company is focusing on digital business growth, particularly in DMS, and is committed to transforming how it leverages its assets [5][6] - Cost efficiencies are being pursued, with an additional $7,500,000 in annualized fixed cost reductions executed during the quarter [13][18] - The company is optimistic about potential FCC deregulation, which could positively impact the industry [27] Management's Comments on Operating Environment and Future Outlook - The macro environment has become more challenging, with supply chain concerns and inflation pressures affecting consumer sentiment and advertising spending [4] - Pacing is down approximately 10%, or 5% excluding political and Daily Wire impacts, indicating ongoing economic uncertainty [16][19] Other Important Information - The company ended the quarter with $53,000,000 in cash and a net debt of $589,000,000 [19] - The company is exploring asset sales, with expectations of generating $10 to $15 million from such sales this year [29] Q&A Session Summary Question: Were there any programs or content that you had last year that you didn't have this year in the first quarter? - The network's programming did not significantly change, and the decline was driven by general market demand weakness [22][23] Question: Can you provide a month-by-month revenue performance for the quarter? - Revenue pacing was down mid-single digits, ending slightly over 6% down due to late advertiser orders [25] Question: What are the prospects of FCC deregulation and asset sales? - The company is optimistic about FCC deregulation and expects a notice of proposed rulemaking by late summer [27] - Small asset sales occurred in Q1, with a cautious optimism for a significant land sale in Nashville [29]

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from to Washington, D.C. 20549 FORM 10-Q (Mark one) Commission file number: 001-38108 Cumulus Media Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-5134717 (State or ...

Financial Performance - Total net revenue for Q1 2025 was $187.3 million, a decline of 6.4% year-over-year[3] - The company recorded a net loss of $32.4 million compared to a net loss of $14.2 million in Q1 2024, reflecting a 128.7% increase in losses[5] - GAAP net loss for Q1 2025 was $32,367,000, compared to a loss of $14,154,000 in Q1 2024[24] - As reported net revenue for Q1 2025 was $187,349,000, down from $200,053,000 in Q1 2024, representing a decrease of approximately 6.8%[24] - Excluding the impact of political revenue, net revenue for Q1 2025 was $186,517,000, compared to $197,854,000 in Q1 2024, a decrease of approximately 5.7%[24] Revenue Breakdown - Digital revenue reached $36.6 million, an increase of 6.1% year-over-year, representing 20% of total revenue[3] - Podcasting revenue decreased by 13%, but increased by 39% when excluding the impact of the Daily Wire relationship[3] - Broadcast radio revenue declined by 10.6% year-over-year, totaling $124.9 million[6] - Digital marketing services grew by 30% driven by investments in sales, support, and fulfillment capabilities[2] Adjusted Metrics - Adjusted EBITDA for Q1 2025 was $3.5 million, down 58.1% from $8.4 million in Q1 2024[5] - Adjusted EBITDA for Q1 2025 was $3,519,000, significantly lower than $8,405,000 in Q1 2024, indicating a decline of about 58%[24] - Adjusted EBITDA, excluding political EBITDA, was $2,770,000 for Q1 2025, down from $6,426,000 in Q1 2024, reflecting a decline of about 56.8%[24] Debt and Cash Position - Total debt as of March 31, 2025, was $670.2 million, with net debt less total unamortized discount at $589.4 million[3] - Total debt principal, gross, as of March 31, 2025, was $670,165,000, slightly down from $675,755,000 in the previous year[24] - Net debt less total unamortized discount decreased to $589,423,000 in Q1 2025 from $607,416,000 in Q1 2024[24] - Total debt at maturity as of March 31, 2025, was $642,117,000, compared to $675,755,000 in the previous year[24] - Cash and cash equivalents at the end of Q1 2025 were $52.7 million, down from $63.8 million at the end of 2024[7] - Cash and cash equivalents decreased to $52,694,000 in Q1 2025 from $68,339,000 in Q1 2024[24] Cost Management - The company achieved annualized fixed cost reductions of $7.5 million during the quarter[3] - Political revenue impact on net revenue was a reduction of $832,000 in Q1 2025, compared to a reduction of $2,199,000 in Q1 2024[24]

Core Insights - Cumulus Media reported a net revenue of $187.3 million for Q1 2025, reflecting a 6.4% decrease compared to Q1 2024, alongside a net loss of $32.4 million, which is a significant increase in losses from $14.2 million in the previous year [4][7][25] - The company emphasized its focus on mitigating macroeconomic impacts, including a 30% growth in digital marketing services and $7.5 million in annualized cost reductions [2][4] Financial Performance - Net revenue for Q1 2025 was $187.3 million, down from $200.1 million in Q1 2024, marking a 6.4% decline [4][8] - The net loss increased to $32.4 million in Q1 2025 from $14.2 million in Q1 2024, representing a 128.7% increase in losses [4][7] - Adjusted EBITDA for the quarter was $3.5 million, down 58.1% from $8.4 million in Q1 2024 [4][7] Revenue Breakdown - Digital revenue reached $36.6 million, a 6.1% increase year-over-year, and represented 20% of total revenue [7][8] - Broadcast radio revenue decreased by 10.6%, with spot revenue at $80.9 million and network revenue at $43.9 million [8] - Podcasting revenue decreased by 13%, but increased by 39% when excluding the impact of the Daily Wire relationship [7] Cost Management - The company executed actions resulting in $7.5 million of annualized fixed cost reductions [2][7] - Total operating expenses for Q1 2025 were $202.1 million, down from $210.5 million in Q1 2024 [25] Balance Sheet and Debt - As of March 31, 2025, total debt was reported at $670.2 million, with net debt less total unamortized discount at $589.4 million [7][9] - The company ended the quarter with $52.7 million in cash [7][9]

Core Viewpoint - Cumulus Media Inc. will host a conference call on May 1, 2025, to discuss its first quarter 2025 operating results, with a press release summarizing these results to be issued beforehand [1]. Group 1: Conference Call Details - The conference call is scheduled for May 1 at 8:30 AM ET, with a press release to be issued at approximately 8:00 AM ET [1]. - Participants must register in advance to join the conference call, with a one-time email address verification required [2]. - The call will be available in listen-only mode via the company's investor relations website, and a recording will be accessible shortly after the call [3]. Group 2: Dial-in Information - Domestic callers can join the call by dialing 833-470-1428, while international callers should dial 404-975-4839, using the participant access code 624457 if prompted [4]. Group 3: Company Overview - Cumulus Media is an audio-first media company reaching over a quarter billion people monthly through 400 radio stations across 84 markets [5]. - The company offers nationally-syndicated programming from major brands and operates the Cumulus Podcast Network, which features original podcasts [5]. - Cumulus Media provides advertisers with a combination of local impact and national reach through various platforms and services, including performance guarantees for advertising [5].

Rafael Hernández Brito, Greivis Vásquez, and Carlos Morales Call the Action  Broadcasts Presented by Werner Ladder   NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media's (NSDQ: CMLS) Westwood One will provide exclusive audio coverage of the NCAA Men's Final Four and national championship game in Spanish for the eighth consecutive tournament, presented by Werner Ladder, the official ladder of the NCAA Men's and Women's Basketball Championships. Westwood One's Spanish-language broadcasts will kick off ...

Rafael Hernández Brito, Greivis Vásquez, and Carlos Morales Call the Action Broadcasts Presented by Werner Ladder NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Cumulus Media’s (NSDQ: CMLS) Westwood One will provide exclusive audio coverage of the NCAA Men’s Final Four and national championship game in Spanish for the eighth consecutive tournament, presented by Werner Ladder, the official ladder of the NCAA Men’s and Women’s Basketball Championships. Westwood One’s Spanish-language broadcasts will kick off ...

Westwood One's Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium  Network's Coverage Includes the Men's Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One's Women's Final Four Coverage is Presented by Intuit TurboT ...

Westwood One’s Final Four Coverage Connects College Hoops Fans across Multiple Platforms – 500+ Radio Stations, SiriusXM, NCAA March Madness Live™; via Free Online Streaming at WestwoodOneSports.com and the Westwood One Sports App, The Varsity Network App & on Alexa-Enabled Devices; also Available with TuneIn Premium Network’s Coverage Includes the Men’s Final Four and National Championship Games in Spanish, Presented by Werner Ladder Westwood One’s Women’s Final Four Coverage is Presented by Intuit TurboT ...