US Market News
4週前
BEASLEY BROADCAST GROUP REPORTS FIRST QUARTER REVENUE OF $42.6 MILLIONMay 13, 2026 7:00 AM
PR Newswire (US) Conference Call and Webcast
Today, May 13, 2026 at 11:00 a.m. ET
(800) 715-9871 or +1 (646) 307-1963, conference ID 1613596 or
www.bbgi.com Replay information provided belowNAPLES, Fla., May 13, 2026 /PRNewswire/ -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) ("Beasley" or the "Company"), a multi-platform media company, today announced operating results for the three-month period ended March 31, 2026. For further information, the Company has posted a presentation to its website regarding the first quarter highlights and accomplishments that management will review on today's conference call. First Quarter Financial Highlights
In millions, except per share data
Three Months Ended
March 31,
2025
2026
Net revenue
$48.9
$42.6
Operating income (loss)
(0.3)
7.7
Net income (loss)
(2.7)
3.2
Net income (loss) per diluted share
(1.50)
1.77
Adjusted EBITDA (non-GAAP)
$1.1
$(0.4)
First Quarter 2026 Highlights Revenue from new business accounted for 11% of net revenue Local revenue, including digital packages sold locally, accounted for 75% of net revenue Digital revenue was $10.7 million, flat year-over-year and an 18.2% increase on a same-station basis Digital revenue accounted for 25% of net revenue Digital segment operating margin was 15.5%Net revenue during the three months ended March 31, 2026 decreased 12.9% to $42.6 million, a decrease of 6.7% on a same-station basis. This performance reflects persistent weakness in the traditional agency advertising market that was partially offset by the continued expansion of our high-margin, owned-and-operated direct digital revenues.Beasley recorded operating income of $7.7 million in the first quarter of 2026, compared to an operating loss of $0.3 million in the prior year quarter. The increase in operating income was driven primarily by the completion of the company's sale of all stations operated within Fort Myers, FL. Cash interest expense totaled $3.3 million, consistent with prior periods. Beasley reported net income of approximately $3.2 million, or $1.77 per diluted share, compared to a net loss of $2.7 million, or $1.50 per diluted share, in the prior year quarter.Adjusted EBITDA was negative $0.4 million in the first quarter of 2026, compared to $1.1 million in the first quarter of 2025.Please refer to the "Reconciliation of Net Income (Loss) to Adjusted EBITDA and EBITDA per Indenture" table at the end of this release.Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said:"While first quarter results continued to reflect pressure in certain legacy advertising categories and an uneven pace of recovery across our markets, we made meaningful progress against the strategic priorities we outlined over the past year. Importantly, we continue to see strong momentum in digital, particularly in our owned and operated products, which grew year-over-year on a same station basis and now represent an increasingly important contributor to both revenue quality and long-term profitability. Markets with stronger digital adoption continue to demonstrate greater revenue stability, reinforcing our confidence in the long-term direction of the business." Beasley added, "On May 1st, we took significant steps to strengthen our balance sheet and improve financial flexibility. Through the completion of our second lien restructuring, repurchase of a portion of our first lien notes, establishment of a new asset-based lending facility, and the continued execution of our portfolio optimization strategy, we meaningfully improved our capital structure and liquidity position. These actions provide additional runway and flexibility as we continue executing our operating and deleveraging strategy." "We remain focused on disciplined execution as we move through 2026," Beasley continued. "Our priorities are clear: stabilize and rebuild local direct revenue, continue scaling higher-margin digital products, improve conversion from revenue to station operating income, and further reduce leverage over time. While macroeconomic conditions remain challenging, we believe the operational and financial actions we are taking today are positioning the Company for a more durable and profitable long-term future."Conference Call and Webcast InformationThe Company will host a conference call and webcast today, May 13, 2026 at 11:00 a.m. ET to discuss its financial results and operations. To access the conference call, interested parties may dial (800) 715-9871 or +1 (646) 307-1963 conference ID 1613596 (domestic and international callers). Participants can also listen to a live webcast of the call at the Company's website at www.bbgi.com. Please allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the webcast can be accessed for five days on the Company's website, www.bbgi.com.Questions from analysts, institutional investors and debt holders may be e-mailed to ir@bbgi.com at any time up until 9:00 a.m. ET on Wednesday, May 13, 2026. Management will answer as many questions as possible during the conference call and webcast (provided the questions are not addressed in their prepared remarks).About Beasley Broadcast GroupThe Company is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Approximately 18 million consumers listen to the Company's radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company's brands and personalities through digital platforms such as Facebook, X, text, apps and email. For more information, please visit www.bbgi.com. For further information, or to receive future Beasley Broadcast Group news announcements via e-mail, please contact Beasley Broadcast Group, at 239-263-5000 or ir@bbgi.com.DefinitionsEBITDA is defined as net income (loss) before interest income or expense, income tax expense or benefit, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain, non-operating or other items that we believe are not indicative of the performance of our ongoing operations, such as impairment losses, other income or expense, one-time severance expense, stock-based compensation or equity in earnings of unconsolidated affiliates. See "Reconciliation of Net Loss to Adjusted EBITDA" for additional information. Adjusted EBITDA is a measure widely used in the media industry. The Company recognizes that because Adjusted EBITDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that Adjusted EBITDA provides meaningful information to investors because it is an important measure of how effectively we operate our business and assists investors in comparing our operating performance with that of other media companies. EBITDA per Indenture refers to EBITDA as defined by our creditors. The Company recognizes that because EBITDA per Indenture is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that EBITDA per Indenture provides meaningful information to investors because it reflects how our creditors are benchmarking our performance. Same station revenue and same station operating expenses exclude revenue or operating expenses, as applicable, from all divestitures and other operations that were exited in the prior 12 months. These measures provide investors with a clearer view of core business performance by eliminating the impact of portfolio changes and enabling more meaningful year-over-year comparisons. By isolating the performance of continuing operations, same station results offer greater transparency into underlying trends, operational execution, and the effectiveness of strategic initiatives. New business revenue is defined as revenue from an advertiser that has not advertised in the prior 13 months before the start of the current quarter. Note Regarding Forward-Looking StatementsStatements in this release that are "forward-looking statements" are based upon current expectations and assumptions and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "looking ahead," "intends," "believes," "expects," "seek," "will," "should" or variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain. Key risks are described in the Company's reports filed with the Securities and Exchange Commission ("SEC") including its annual report on Form 10-K and quarterly reports on Form 10-Q. Readers should note that forward-looking statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including:our ability to comply with the continued listing standards of Nasdaq, remain listing on Nasdaq and make periodic filings with the SEC;risks from health epidemics, natural disasters, terrorism, and other catastrophic events;adverse effects of inflation;external economic forces and conditions that could have a material adverse impact on our advertising revenues and results of operations;the ability of our stations to compete effectively in their respective markets for advertising revenues;our ability to develop compelling and differentiated digital content, products and services;audience acceptance of our content, particularly our audio programs;our ability to adapt or respond to changes in technology, standards and services that affect the audio industry;our dependence on federally issued licenses subject to extensive federal regulation;actions by the Federal Communications Commission ("FCC") or new legislation affecting the audio industry;increases in royalties we pay to copyright owners or the adoption of legislation requiring royalties to be paid to record labels and recording artists;our dependence on selected market clusters of stations for a material portion of our net revenue;credit risk on our accounts receivable; impairment of our FCC licenses;our substantial debt levels and the potential effect of restrictive debt covenants on our operational flexibility and ability to pay dividends;the potential effects of hurricanes, extreme weather and other climate change conditions on our corporate offices and stations;the failure or destruction of the internet, satellite systems and transmitter facilities that we depend upon to distribute our programming;modifications or interruptions of our information technology infrastructure and information systems;the loss of key executives and other key employees;our ability to identify, consummate and integrate acquired businesses and stations;the fact that our Company is controlled by the Beasley family, which creates difficulties for any attempt to gain control of our Company; andother economic, business, competitive, and regulatory factors, such as the ongoing U.S. government shutdown, affecting our businesses, including those set forth in our filings with the SEC.Our actual performance and results could differ materially because of these factors and other factors discussed in our SEC filings, including but not limited to our annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC at www.sec.gov, or our website at www.bbgi.com. All information in this release is as of May 13, 2026, and we undertake no obligation to update the information contained herein to actual results or changes to our expectations, except as required by law.BEASLEY BROADCAST GROUP, INC.Condensed Consolidated Statements of Net Income (Loss) - Unaudited
Three months ended
March 31,
2025
2026
Net revenue
$48,912,465
$42,588,735
Operating expenses:
Operating expenses (including stock-based compensation and excluding depreciation and amortization shown separately below)
45,241,261
42,170,631
Corporate expenses (including stock-based compensation)
4,019,462
3,527,570
Depreciation and amortization
1,652,331
1,657,291
Gain on dispositions
(1,698,228)
(12,461,477)
Total operating expenses
49,214,826
34,894,015
Operating income (loss)
(302,361)
7,694,720
Non-operating income (expense):
Interest expense
(3,380,642)
(3,263,397)
Other income (expense), net
(600,743)
82,916
Income (loss) before income taxes
(4,283,746)
4,514,239
Income tax expense (benefit)
(1,567,727)
1,328,368
Income (loss) before equity in earnings of unconsolidated affiliates
(2,716,019)
3,185,871
Equity in earnings of unconsolidated affiliates, net of tax
26,198
28,919
Net income (loss)
$(2,689,821)
$3,214,790
Basic net income (loss) per Class A and Class B common share
$(1.50)
$1.78
Diluted net income (loss) per Class A and Class B common share
$(1.50)
$1.77
Basic weighted-average common shares outstanding
1,792,029
1,806,242
Diluted weighted-average common shares outstanding
1,792,029
1,812,976
Selected Balance Sheet Data - Unaudited(in thousands)
December 31,
March 31,
2025
2026
Cash and cash equivalents
$9,937
$6,426
Working capital
230
(6,672)
Total assets
299,288
281,508
Long-term debt, net of unamortized debt issuance costs
235,287
217,505
Stockholders' deficit
$(48,365)
$(46,067)
Selected Statement of Cash Flows Data – Unaudited
Three months ended
March 31,
2025
2026
Net cash used in operating activities
$(3,474,505)
$(3,484,433)
Net cash provided by investing activities
1,946,342
18,668,931
Net cash used in financing activities
(9,105)
(18,695,735)
Net decrease in cash and cash equivalents
$(1,537,268)
$(3,511,237)
Reconciliation of Net Income (Loss) to Adjusted EBITDA and EBITDA per Indenture – Unaudited
Three months ended
March 31,
2025
2026
Net income (loss)
$(2,689,821)
$3,214,790
Interest expense
3,380,642
3,263,397
Income tax expense (benefit)
(1,567,727)
1,328,368
Depreciation and amortization
1,652,331
1,657,291
EBITDA
775,425
9,463,846
Severance expenses
889,470
158,670
Non-recurring expenses
494,961
2,524,598
Stock-based compensation expenses
98,619
50,788
Gain on dispositions
(1,698,228)
(12,461,477)
Other income (expense), net
600,743
(82,916)
Equity in earnings of unconsolidated affiliates, net of tax
(26,198)
(28,919)
Adjusted EBITDA
1,134,792
(375,410)
Non-cash trade agreements
(149,045)
297,287
Property and franchise taxes
521,258
544,581
Pro-forma cost savings
150,701
—
EBITDA per Indenture
$1,657,706
$466,458
Calculation of Same Station Net Revenue and Operating Expenses – Unaudited
Three months ended
March 31,
2025
2026
Net revenue
$48,912,465
$42,588,735
Fort Myers
(1,889,439)
(299,815)
Digital Direct
(1,706,633)
—
Same station net revenue
$45,316,393
$42,288,920
Three months ended
March 31,
2025
2026
Operating expenses
$45,241,261
$42,170,631
Fort Myers
(1,677,286)
(1,237,423)
Digital Direct
(1,969,783)
(332,000)
Same station operating expenses
$41,594,192
$40,601,208
Calculation of Same Station Audio Net Revenue and Audio Operating Expenses – Unaudited
Three months ended
March 31,
2025
2026
Audio net revenue
$38,153,370
$31,884,452
Fort Myers
(1,889,439)
(299,815)
Same station audio net revenue
$36,263,931
$31,584,637
Three months ended
March 31,
2025
2026
Audio operating expenses
$36,394,976
$33,126,917
Fort Myers
(1,677,286)
(1,237,423)
Same station audio operating expenses
$34,717,690
$31,889,494
Calculation of Same Station Digital Net Revenue and Digital Operating Expenses – Unaudited
Three months ended
March 31,
2025
2026
Digital net revenue
$10,759,095
$10,704,283
Digital Direct
(1,706,633)
—
Same station digital net revenue
$9,052,462
$10,704,283
Three months ended
March 31,
2025
2026
Digital operating expenses
$8,846,285
$9,043,714
Digital Direct
(1,969,783)
(332,000)
Same station digital operating expenses
$6,876,502
$8,711,714
View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-reports-first-quarter-revenue-of-42-6-million-302770387.htmlSOURCE Beasley Media Group, Inc. Original: BEASLEY BROADCAST GROUP REPORTS FIRST QUARTER REVENUE OF $42.6 MILLION
US Market News
2月前
BEASLEY BROADCAST GROUP REPORTS FOURTH QUARTER REVENUE OF $53.1 MILLIONApril 8, 2026 7:00 AM
PR Newswire (US)
NAPLES, Fla., April 8, 2026 /PRNewswire/ -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) ("Beasley" or the "Company"), a multi-platform media company, today announced operating results for the three-month period ended December 31, 2025. For further information, the Company has posted a presentation to its website regarding the fourth quarter highlights and accomplishments that management will review on today's conference call.
Fourth Quarter Financial Highlights
In millions, except per share data
Three Months Ended
December 31,
Twelve Months Ended
December 31,
2024
2025
2024
2025Net revenue
$67.3
$53.1
$240.3
$205.9Operating income (loss)
7.6
(230.0)
13.1
(229.7)Net loss 1
(2.1)
(190.1)
(5.9)
(196.5)Net loss per diluted share 1
(1.17)
(105.40)
(3.73)
(109.27)Adjusted EBITDA (non-GAAP)
$10.7
$0.8
$25.8
$10.5
1.Net loss and net loss per diluted share in the year ended December 31, 2025 include $224.8 million impairment losses related to FCC licenses. Net loss and net loss per diluted share in the year ended December 31, 2024 include a $6.0 million gain on sale of an investment in Broadcast Music, Inc.Fourth Quarter 2025 Highlights Revenue from new business accounted for 12% of net revenue Local revenue, including digital packages sold locally, accounted for 73% of net revenue Digital revenue increased 9.7% year-over-year to $12.6 million, or 33.6% on a same-station basis Digital revenue accounted for 23.7% of net revenue Digital segment operating margin was 29.4%, or 29.0% on a same-station basisFY 2025 Highlights Closed the sale of WPBB-FM on September 29, 2025 for $8.0 million and entered into agreements for the sale of our Ft. Myers market assets for $18.0 million, which closed in February 2026 Revenue from new business accounted for 13% of net revenue Local revenue, including digital packages sold locally, accounted for 72% of net revenue Digital revenue increased 5.9% year-over-year to $49.5 million, or 21.0% on a same-station basis Digital revenue accounted for 24.0% of net revenue Digital segment operating margin was 23.9%, or 28.8% on a same-station basisNet revenue during the three months ended December 31, 2025 decreased 21.1% to $53.1 million, or a decrease of 6.8% on a same-station basis excluding $2.7 million of political revenue recorded during the three months ended December 31, 2024. This performance reflects persistent weakness in the traditional agency advertising market that was partially offset by the continued expansion of our high-margin, owned-and-operated direct digital revenues.Beasley recorded an operating loss of approximately $230.0 million in the fourth quarter of 2025, compared to operating income of $7.6 million in the fourth quarter of 2024, driven primarily by a non-cash FCC license impairment charge of $224.8 million, reflecting the company's updated assessment of the fair value of its broadcast licenses in light of continued secular pressures on the radio industry, as well as $1.7 million in other operating expenses. Excluding these non-cash and non-recurring items, adjusted operating loss was approximately $3.4 million, compared to adjusted operating income of $7.6 million in the prior year quarter, with the decline reflecting lower total revenue, partially offset by continued expense reductions, which have exceeded $30 million in annualized cost reductions over the last 18 months. Interest expense totaled $3.3 million in the fourth quarter of 2025, consistent with prior periods, resulting in a net loss of approximately $189.2 million, or $104.87 per diluted share, compared to a net loss of $2.1 million, or $1.17 per diluted share, in the fourth quarter of 2024.Adjusted EBITDA was $0.8 million in the fourth quarter of 2025, compared to $10.7 million in the fourth quarter of 2024.Please refer to the "Reconciliation of Net Loss to Adjusted EBITDA and EBITDA per Indenture" table at the end of this release.Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said:"2025 was a year of meaningful transformation for Beasley. Against a persistently challenging advertising environment — marked by continued secular pressure on traditional audio and the ongoing contraction of agency-driven revenue channels — we made tangible progress reshaping this company for long-term value creation. Our digital business delivered record performance, with digital revenue representing approximately 24% of net revenue, up from roughly 19% of net revenue in 2024, and digital segment operating margins reached record levels as our continued shift toward owned-and-operated and programmatic products gained traction across our markets." "Operationally, we have fundamentally restructured the cost profile of this business. Over the past 18 months, we have executed approximately $30 million in annualized cost reductions — permanent, structural changes that reflect a leaner and more focused organization built for today's revenue environment." "We also took deliberate steps to strengthen our balance sheet and sharpen our portfolio. The sale of WPBB in Tampa, which closed in the third quarter of 2025, and the subsequent sale of our Fort Myers market earlier this year, together generated approximately $26 million in proceeds and reflect our continued focus on concentrating capital behind our highest-performing, highest-potential assets.""Building on this progress, we recently announced a debt exchange transaction with our second lien bondholders, pursuant to which we expect to reduce our second lien debt by approximately 50% and repay roughly $15 million of our first lien debt. Upon completion of the transaction, which is subject to bondholder participation and expected to close by the end of April, we anticipate total outstanding debt will be reduced to approximately $110 million from $220 million today. We believe this transaction will meaningfully strengthen our balance sheet, enhance financial flexibility, and better position the Company to execute on its strategic priorities. Following its completion, our focus will shift toward further deleveraging through EBITDA growth and continued portfolio optimization.""We remain focused on what we can control — our cost structure, our digital roadmap, our direct local revenue relationships, and the strength of our brands in every market we serve."Conference Call and Webcast InformationThe Company will host a conference call and webcast today, April 8, 2026 at 11:00 a.m. ET to discuss its financial results and operations. To access the conference call, interested parties may dial?(800) 715-9871?or +1 (646) 307-1963?conference ID 1613596 (domestic and international callers). Participants can also listen to a live webcast of the call at the Company's website at www.bbgi.com. Please allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the webcast can be accessed for five days on the Company's website, www.bbgi.com.Questions from analysts, institutional investors and debt holders may be e-mailed to ir@bbgi.com at any time up until 9:00 a.m. ET on Tuesday, April 8, 2026. Management will answer as many questions as possible during the conference call and webcast (provided the questions are not addressed in their prepared remarks).About Beasley Broadcast GroupThe Company is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Approximately 18 million consumers listen to the Company's radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company's brands and personalities through digital platforms such as Facebook, X, text, apps and email. For more information, please visit www.bbgi.com. For further information, or to receive future Beasley Broadcast Group news announcements via e-mail, please contact Beasley Broadcast Group, at 239-263-5000 or ir@bbgi.com. DefinitionsEBITDA is defined as net income (loss) before interest income or expense, income tax expense or benefit, depreciation, and amortization. Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain, non-operating or other items that we believe are not indicative of the performance of our ongoing operations, such as impairment losses, other income or expense, one-time severance expense, stock-based compensation or equity in earnings of unconsolidated affiliates. See "Reconciliation of Net Loss to Adjusted EBITDA" for additional information. Adjusted EBITDA is a measure widely used in the media industry. The Company recognizes that because Adjusted EBITDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that Adjusted EBITDA provides meaningful information to investors because it is an important measure of how effectively we operate our business and assists investors in comparing our operating performance with that of other media companies. EBITDA per Indenture refers to EBITDA as defined by our creditors. The Company recognizes that because EBITDA per Indenture is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that EBITDA per Indenture provides meaningful information to investors because it reflects how our creditors are benchmarking our performance. Same-station revenue and same station operating expenses exclude revenue or operating expenses, as applicable, from all divestitures and other operations that were exited in the prior 12 months. These measures provide investors with a clearer view of core business performance by eliminating the impact of portfolio changes and enabling more meaningful year-over-year comparisons. By isolating the performance of continuing operations, same station results offer greater transparency into underlying trends, operational execution, and the effectiveness of strategic initiatives. New business revenue is defined as revenue from an advertiser that has not advertised in the prior 13 months before the start of the current quarter. Note Regarding Forward-Looking StatementsWords or expressions such as "looking ahead," "intends," "believes," "expects," "seek," "will," "should" or variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain. Key risks are described in the Company's reports filed with the Securities and Exchange Commission ("SEC") including its annual report on Form 10-K and quarterly reports on Form 10-Q. Readers should note that forward-looking statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including:our ability to comply with the continued listing standards of Nasdaq, remain listing on Nasdaq and make periodic filings with the SEC;risks from health epidemics, natural disasters, terrorism, and other catastrophic events;adverse effects of inflation;external economic forces and conditions that could have a material adverse impact on our advertising revenues and results of operations;the ability of our stations to compete effectively in their respective markets for advertising revenues;our ability to develop compelling and differentiated digital content, products and services;audience acceptance of our content, particularly our audio programs;our ability to adapt or respond to changes in technology, standards and services that affect the audio industry;our dependence on federally issued licenses subject to extensive federal regulation;actions by the Federal Communications Commission ("FCC") or new legislation affecting the audio industry;increases in royalties we pay to copyright owners or the adoption of legislation requiring royalties to be paid to record labels and recording artists;our dependence on selected market clusters of stations for a material portion of our net revenue;credit risk on our accounts receivable;impairment of our FCC licenses;our substantial debt levels and the potential effect of restrictive debt covenants on our operational flexibility and ability to pay dividends, and our ability to continue as a going concern;our history of operating losses and ability to continue as a going concern;our ability to pay regular dividends;the potential effects of hurricanes, extreme weather and other climate change conditions on our corporate offices and stations;the failure or destruction of the internet, satellite systems and transmitter facilities that we depend upon to distribute our programming;modifications or interruptions of our information technology infrastructure and information systems;the loss of key executives and other key employees;our ability to identify, consummate and integrate acquired businesses and stations;the fact that our Company is controlled by the Beasley family, which creates difficulties for any attempt to gain control of our Company; andother economic, business, competitive, and regulatory factors, such as the ongoing U.S. government shutdown, affecting our businesses, including those set forth in our filings with the SEC.Our actual performance and results could differ materially because of these factors and other factors discussed in our SEC filings, including but not limited to our annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC at www.sec.gov, or our website at www.bbgi.com. All information in this release is as of April 8, 2026, and we undertake no obligation to update the information contained herein to actual results or changes to our expectations, except as required by law. BEASLEY BROADCAST GROUP, INC.Condensed Consolidated Statements of Net Loss - Unaudited
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Net revenue
$67,285,492
$53,050,405
$240,291,611
$205,939,627
Operating expenses:
Operating expenses (including stock-based compensation and
excluding depreciation and amortization shown separately below)
53,233,833
50,538,991
201,768,757
186,615,256
Corporate expenses (including stock-based compensation)
4,688,478
4,414,378
17,272,696
14,364,287
Depreciation and amortization
1,780,438
1,560,417
7,236,060
6,331,852
FCC licenses impairment losses
—
224,815,149
—
224,815,149
Goodwill impairment loss
—
—
922,000
—
Other operating expenses
—
1,749,525
—
3,487,147
Total operating expenses
59,702,749
283,078,460
227,199,513
435,613,691
Operating income (loss)
7,582,743
(230,028,055)
13,092,098
(229,674,064)
Non-operating income (expense):
Interest expense
(3,460,070)
(3,279,355)
(21,233,027)
(13,233,800)
Debt issuance expenses
(5,982,414)
—
(5,982,414)
—
Gain on repurchase of long-term debt
—
—
—
525,000
Gain on sale of investment
—
—
6,026,776
—
Other income (expense), net
247,413
95,241
799,558
1,160,535
Loss before income taxes
(1,612,328)
(233,212,169)
(7,297,009)
(241,222,329)
Income tax expense (benefit)
451,058
(43,056,867)
(1,344,961)
(44,655,757)
Loss before equity in earnings of unconsolidated affiliates
(2,063,386)
(190,155,302)
(5,952,048)
(196,566,572)
Equity in earnings of unconsolidated affiliates, net of tax
4,754
6,260
64,790
16,831
Net loss
$(2,058,632)
$(190,149,042)
$(5,887,258)
$(196,549,741)
Basic and diluted net loss per Class A and Class B common share
$(1.17)
$(105.40)
$(3.73)
$(109.27)
Basic and diluted weighted-average common shares outstanding
1,754,092
1,804,041
1,579,744
1,798,760
Selected Balance Sheet Data - Unaudited(in thousands)
December 31,
December 31,
2024
2025
Cash and cash equivalents
$13,773
$9,937
Working capital
16,303
230
Total assets
549,207
299,288
Long-term debt, net of unamortized debt issuance costs
247,118
235,287
Stockholders' equity (deficit)
$147,220
$(49,330)
Selected Statement of Cash Flows Data – Unaudited
Twelve months ended
December 31,
2024
2025
Net cash used in operating activities
$(3,711,785)
$(8,468,895)
Net cash provided by investing activities
4,322,076
5,637,489
Net cash used in financing activities
(13,571,492)
(1,004,531)
Net decrease in cash and cash equivalents
$(12,961,201)
$(3,835,937)
Reconciliation of Net Loss to Adjusted EBITDA and EBITDA per Indenture – Unaudited
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Net loss
$(2,058,632)
$(190,149,042)
$(5,887,258)
$(196,549,741)
Interest expense
3,460,070
3,279,355
21,233,027
13,233,800
Income tax expense (benefit)
451,058
(43,056,867)
(1,344,961)
(44,655,757)
Depreciation and amortization
1,780,438
1,560,417
7,236,060
6,331,852
EBITDA
3,632,934
(228,366,137)
21,236,868
(221,639,846)
Severance expenses
1,195,411
426,609
3,696,913
2,441,345
Non-recurring expenses
—
535,592
—
1,127,985
Stock-based compensation expenses
120,034
(24,605)
893,292
202,802
FCC licenses impairment losses
—
224,815,149
—
224,815,149
Goodwill impairment loss
—
—
922,000
—
Debt issuance expenses
5,982,414
815,000
5,982,414
815,000
Other operating expenses
—
2,710,525
—
4,448,147
Gain on repurchase of long-term debt
—
—
—
(525,000)
Gain on sale of investment
—
—
(6,026,776)
—
Other income, net
(247,413)
(95,241)
(799,558)
(1,160,535)
Equity in earnings of unconsolidated affiliates, net of tax
(4,754)
(6,260)
(64,790)
(16,831)
Adjusted EBITDA
10,678,626
810,632
25,840,363
10,508,216
Non-recurring restructuring and reformatting expenses
—
—
760,637
—
Contract services
92,602
—
275,936
—
Non-cash trade agreements
42,954
—
414,564
(349,504)
Property and franchise taxes
555,703
258,314
1,970,371
1,659,321
Pro-forma cost savings
1,136,989
106,895
2,926,187
1,198,835
EBITDA per Indenture
$12,506,874
$1,175,841
$32,188,058
$13,016,868
Calculation of Same Station Net Revenue and Operating Expenses – Unaudited
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Net revenue
$67,285,492
$53,050,405
$240,291,611
$205,939,627
Atlanta
—
—
(965)
—
Wilmington
—
—
(55,117)
—
Digital
(2,035,625)
20,200
(9,675,572)
(4,897,784)
Outlaws
(1,932)
—
(204,890)
—
Same station net revenue
$65,247,935
$53,070,605
$230,355,067
$201,041,843
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Operating expenses
$53,233,833
$50,538,991
$201,768,757
$186,615,256
Atlanta
(3,870)
—
(97,014)
—
Wilmington
—
—
(58,060)
—
Digital
(2,287,767)
(32,670)
(11,792,818)
(5,934,976)
Outlaws
700
—
(903,197)
—
Same station operating expenses
$50,942,896
$50,506,321
$188,917,668
$180,680,280
Calculation of Same Station Audio Net Revenue and Audio Operating Expenses – Unaudited
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Audio net revenue
$55,813,152
$40,464,755
$193,561,279
$156,467,315
Atlanta
—
—
(965)
—
Wilmington
—
—
(55,117)
—
Same station audio net revenue
$55,813,152
$40,464,755
$193,505,197
$156,467,315
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Audio operating expenses
$43,156,449
$41,600,663
$160,575,045
$148,954,220
Atlanta
(3,870)
—
(97,014)
—
Wilmington
—
—
(58,060)
—
Same station audio operating expenses
$43,152,579
$41,600,663
$160,419,971
$148,954,220
Calculation of Same Station Digital Net Revenue and Digital Operating Expenses – Unaudited
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Digital net revenue
$11,472,340
$12,585,650
$46,730,332
$49,472,312
Digital
(2,035,625)
20,200
(9,675,572)
(4,897,784)
Outlaws
(1,932)
—
(204,890)
—
Same station digital net revenue
$9,434,783
$12,605,850
$36,849,870
$44,574,528
Three months ended
Twelve months ended
December 31,
December 31,
2024
2025
2024
2025
Digital operating expenses
$10,077,384
$8,938,328
$41,193,712
$37,661,036
Digital
(2,287,767)
(32,670)
(11,792,818)
(5,934,976)
Outlaws
700
—
(903,197)
—
Same station digital operating expenses
$7,790,317
$8,905,658
$28,497,697
$31,726,060
View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-reports-fourth-quarter-revenue-of-53-1-million-302736224.htmlSOURCE Beasley Media Group, Inc.
Original: BEASLEY BROADCAST GROUP REPORTS FOURTH QUARTER REVENUE OF $53.1 MILLION
CA CHASE
6年前
We have a few rockets to board this week $BBGI
UPCOMING EVENTS
Beasley Esports and CheckpointXP are honored to join Axis Replay and esports community at a virtual gathering in solidarity with other organizations to celebrate Juneteenth, on Friday, June 19th, 2020
“This is a time to reflect and rejoice in the progress achieved by the African American community and a reminder of what is still left to do. The event will showcase celebrity guests, spark discussion, educate viewers, and highlight esports gameplay & more,” says Ryan Johnson, Executive Director of Cxmmunity, a non-profit organization focused on increasing minority participation in the esports and video game industry.
On June 19th, 2020 7PM – 12AM, the live broadcast of the virtual esports gathering to celebrate Freedom for All will be available on twitch.tv/axisreplay | youtube.com/axisreplay | facebook.com/axisreplay |mixer.com/axisreplay, and hosted on partner broadcasts, twitch.tv/checkpointXP | ESTV and more. The program will include influencers, entertainers, and pro-athletes like: Erin Ashley Simon, Larry Ridley, Jeezy, Desi Banks. Allies for change include: FaZe Clan, Invest Atlanta, the Atlanta Chamber of Commerce, NFL Alumni Association, EventsDC, Twitch, Fight Tyme Gaming, Black Salt Coreuption, United Way, Cxmmunity, Axis Replay, RIISE Ventures, Gamers Vote, Vote to Live, Skillshot, Atlanta Esports Alliance, ESTV, NutriGMR, Beasley Esports, Checkpoint XP, Atlanta Inno, Esports Insider, Gamer’s Outreach, Ultimate Gamer, eFUSE, Black Python. Visit www.juneteenth.gg for more information.
“Juneteenth is the oldest, nationally celebrated commemoration of the ending of slavery in the United States and a reminder of the pride, resilience and determination of African Americans in American history. Even though COVID-19 has hindered live event celebrations and parades, Axis Replay and our partners are committed to fight for social justice. As an ally, I want to do more, and we do it best by giving our community a way to celebrate and connect, both in-person and virtually. We’re making a difference through our shared love of esports and video games. This is our commitment to the future, and it starts with us. Together we win,” says Allie Young, CEO of Axis Replay.
Through the observance of African American freedom with an emphasis on education, achievement, assessment, improvement and celebration, the event will reflect on this day of independence through the shared voices of the video game community.
“As leaders in gaming, we have an obligation to combat racism and discrimination of all forms in our community, especially considering the generation of young adults following our influence. Joining this wonderful Juneteenth Celebration is one of many ways FaZe Clan and our newly formed Diversity Council are taking meaningful actions to demonstrate our commitment to combat social injustice and deconstruct systemic racism in the gaming community. We encourage everyone to get involved and participate,” says Staci Smith, Leader of FaZe Clan’s Diversity Council and Head of Human Resources.
“Black history is an essential part of the history of the United States and it is important that we continue to promote awareness, create safe spaces, and be inclusive. In cities across the country, people of all races, nationalities, and religions are joining forces to truthfully acknowledge a period in our history that continues to influence and shape our society today. Being sensitive to the conditions and experiences of others is vital for us as a people to make significant and lasting improvements in our society,” says Todd Harris, Chairman of the Board, Atlanta Esports Alliance.
“As a company, we are committed to using our platforms to support social justice and be part of the active conversation needed to move our nation forward,” adds Leslie Fitzsimmons, Executive Director of Sales and Marketing at Beasley Esports.
For more information and a schedule of events and want to get involved, visit www.juneteenth.gg.
“Struggle is a never-ending process. Freedom is never really won, you earn it and win it in every generation.” – Coretta Scott King
“Sport has the power to change the world. It has the power to unite the world in a way that little else does.” – Nelson Mandela
ABOUT AXIS REPLAY
Axis Replay is a leader in high-tech entertainment and events for video games and esports. Focused on in-person and virtual social experiences for gamers and their friends, Axis Replay exists to foster impactful personal and professional connections through the mutual love of video games.
For more information about Axis Replay, visit www.axisreplay.com.
ABOUT CXMMUNITY
Cxmmunity pronounced “Community,” is a non-profit that is focused on increasing minority participation in the esports and video game industry. Founded to eliminate barriers to entry and underrepresentation in esports, Cxmmunity provides minorities living in underserved communities with the opportunity to participate within the gaming industry by sharpening STEM and business management skills.
For more information about Cxmmunity, visit www.cxmmunity.co
ABOUT FIGHT TYME PROMOTIONS
Fight Tyme Promotions, Inc. (Fight Tyme) is a combat sports promotions company that was founded in 2016 by Khalif-Delence A. Sheares Sr. and Sheldon Martin to bring diversity and inclusion in the fragmented combat sports broadcast industry. Fight Tyme Promotions, Inc. has developed an international broadcast network for combats sports and Esports which is currently available in over 188+ countries and on every web-connected device such as Android, Apple, Roku, Apple TV, Amazon FireStick, Xbox One, PS4, PC, and Virtual Reality. Fight Tyme Gaming
division was created to develop, market, and promote combats sports video games and to host Esports leagues, tournaments and STEM educational initiatives for youth and adults through it’s platform EsportsFighter.com
ABOUT FAZE CLAN
Since its inception in 2010, FaZe Clan has established itself as the world’s most prominent and influential gaming organization known for its disruptive original content and hyper-engaged global fanbase of 230 million combined across all social platforms. FaZe Clan holds an unrivaled position at the epicenter of gaming, sports, culture and entertainment, driving how the next generation consumes content, plays and shops. Their roster of 85 influential personalities consists of world-class gamers, engaging content creators and a mix of talent beyond the world of gaming, including NBA star Ben Simmons, NFL star Juju Smith-Schuster and global superstar artists Offset and Lil Yachty. The organization’s unmatched esports division includes seven competitive teams in Fortnite, FIFA, PUBG, PUBG Mobile, Rainbow Six, Call of Duty League (Atlanta FaZe) and CS:GO with dozens of world championship trophies among them. In addition, FaZe Clan has become a sought-after fashion and lifestyle brand through an inspired apparel line and limited-edition collaborations with partners including Champion, Manchester City FC, Lyrical Lemonade, Kappa, CLOT, LA Kings and more. Follow us @FaZeClan and @FaZeApparel.
ABOUT BEASLEY ESPORTS
Beasley Media GroupLLC, a subsidiary of Beasley Broadcast Group, Inc., is a multiplatform media company providing advertising and digital marketing solutions across the United States, Beasley Media Group owns 64 radio properties located in large and medium markets across the country and offers capabilities in audio technology, esports, podcasting, ecommerce and events. Beasley Media Group reaches more than 20 million consumers on a weekly basis. For more information, please visit www.bbgi.com. CheckpointXP, part of Beasley Esports, is a content-rich brand with a website, six podcasts, three shows and a nationally syndicated radio show. Shows air on YouTube and Twitch, podcasts are available on Spotify, Apple podcasts or wherever you get yours. CheckpointXP on Campus also airs on radio.com. The radio show is syndicated across 60 stations in the US and Canada. For more information, please visit checkpointXP.com
For more information, please contact Allie Young at 678-491-4163, email ayoung@axisreplay.com or visit the website at www.axisreplay.com.