1. BBGI reported Q1 2025 revenue of $48.9M, down 10.1%. 2. Operating loss increased to $2.0M from $1.1M year-over-year. 3. Net loss of $2.7M, compared to small gain in Q1 2024. 4. Digital revenue exceeded 20% of total revenue despite overall decline. 5. Management emphasizes resilience through cost management and digital growth.
BBGI's significant revenue decline and operating loss align with bearish market sentiment. Historically, similar earnings reports with loss results have led to decreased stock values.
The earnings results reveal critical insights into BBGI's financial health, potentially affecting investor actions heavily.
Financial performance will impact investor sentiment immediately. Past instances show that negative earnings often lead to short-term stock price declines.
NAPLES, Fla., May 7, 2025 /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, 2025. 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.
Date: Today, May 7, 2025 at 11:00 a.m. ET
Dial-in: (800) 715-9871 or +1 (646) 307-1952, conference ID 1613596
Website: www.bbgi.com
| In millions, except per share data | Three Months Ended | 2025 | 2024 |
|---|---|---|---|
| Net revenue | $48.9 | $54.4 | |
| Operating loss | (2.0) | (1.1) | |
| Net income (loss) | (2.7) | — | |
| Net income (loss) per diluted share | (1.50) | 0.01 | |
| Adjusted EBITDA (non-GAAP) | $1.1 | $0.9 |
Note: Net income and net income per diluted share in the three months ended March 31, 2024 include a $6.0 million gain on sale of an investment in Broadcast Music, Inc.
Net revenue during the three months ended March 31, 2025 decreased 10.1%, or 8.5% on a same-station basis, to $48.9 million, driven by declines in agency revenue due to ongoing softness in the advertising market, as well as revenue declines related to the closures of Guarantee Digital and our esports division.
Beasley reported an operating loss of $2.0 million in the first quarter of 2025, compared to an operating loss of $1.1 million in the first quarter of 2024. Operating loss increased as the $5.5 million year-over-year reduction in net revenue exceeded the $4.6 million decrease in total operating expenses, corporate expenses and depreciation and amortization.
Beasley reported a net loss of approximately $2.7 million, or $1.50 per diluted share, in the three months ended March 31, 2025, compared to a net income of $8 thousand, or $0.01 per diluted share, in the three months ended March 31, 2024.
Adjusted EBITDA was $1.1 million in the first quarter of 2025, compared to $0.9 million in the first quarter of 2024. The increase in Adjusted EBITDA reflects the benefits of strategic streamlining initiatives implemented across the organization.
Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said, "Our first quarter results reflect the strength of our ongoing transformation and the resilience of our core strategy. While revenue was impacted by persistent macroeconomic headwinds, we mitigated this through disciplined cost management, operational streamlining, and continued momentum in our digital business, resulting in an Operating Loss of $2.0 million and year-over-year Adjusted EBITDA growth."
The Company will host a conference call and webcast today, May 7, 2025 at 11:00 a.m. ET to discuss its financial results and operations. To access the conference call, interested parties may dial (888) 672-2415, or +1 (646) 307-1952 conference ID 1613596. Participants can also listen to a live webcast of the call at the Company's website at www.bbgi.com.
The Company is a multi-platform media company whose primary business is operating radio stations throughout the United States.
EBITDA is defined as net income (loss) before interest income or expense, income tax expense or benefit, depreciation, and amortization.
Statements 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.
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 info@bbgi.com.