BBGI

This article first appeared on GuruFocus. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Digital revenue grew 8.1% on a same-station basis and now accounts for 25% of total revenue, a key milestone. Digital segment operating margin improved 900 basis points quarter-over-quarter to 26.8%, driven by a shift to higher-margin owned-and-operated inventory. Local direct revenue increased 1.7% year-over-year and now represents the majority of local sales mix, showing resilience outside agency channels. Cost discipline remains strong, with $30 million in annualized expense reductions implemented over the past 12 months, helping preserve margins. Strategic actions to strengthen the balance sheet include asset sales totaling $26 million and $1.5 million in debt repurchases, with proceeds earmarked for deleveraging. Total net revenue declined 11.1% year-over-year on a same-station basis, reflecting significant sales execution challenges. Agency-related revenue continued to decline sharply, with national agency down 12.1% and local agency down 24.7% year-over-year. The company remains overly dependent on agency-driven revenue, which is structurally declining due to AI-driven media buying that deprioritizes traditional radio. Q3 revenue is pacing down high single-digits, with agency channels still down 15% to 20%, indicating continued near-term pressure. Traditional over-the-air CPMs are trending down due to double-digit declines in agency business, intensifying competitive pricing pressures. Warning! GuruFocus has detected 5 Warning Signs with BBGI. Is BBGI fairly valued? Test your thesis with our free DCF calculator. Q: Can you update us on where the cost savings plan stands? How much has hit the numbers and how much more will benefit 2025? Given the current revenue challenges, do you expect to do more cuts in 2026?A: (CFO) Since Q2 of last year, we have taken cost actions that will remove approximately $30 million in annualized total costs. For 2025, we expect expenses to land around $200 million, down from roughly $219 million in 2024. This includes the annualized portion of cuts from 2024 and year-to-date actions. Looking ahead to 2026, we will continue to make proactive and prudent calls on our cost structure, particularly as we renew key vendor contracts, rationalizing services to further optimize the cost base. Q: How are CPMs trending? Are peers being competitive on pricing given the challenged environment?A: (CEO) Digital CPMs are holding in the current environment, and we see this with the competition as well. Our effective digital CPMs continue to increase as we sell more direct owned-and-operated inventory. Traditional over-the-air CPMs are trending down, primarily due to agency business declining double-digits. Pricing remains competitive in our markets. Q: Do you see the opportunity for more asset sales?A: (CEO) As we have consistently stated and demonstrated today, we are always open to asset sales or swaps if it makes sense for the company. We have already entered into agreements to sell WPPB and Tampa for $8 million and our Fort Myers cluster for $18 million, totaling $26 million, with net proceeds planned to reduce debt and strengthen our capital structure. Q: What is driving the overall revenue decline, and how is the company addressing it?A: (CEO) Total net revenue declined 11.1% year-over-year on a same-station basis. This is not simply a macroeconomic issue; it reflects a deeper challenge in sales execution. Our business has been overly dependent on agency-driven revenue, which has seen significant pullbacks. National agency revenue was down 12.1% and local agency down 24.7% year-over-year. We are pivoting away from legacy selling models toward a digitally native, local-first approach, training AEs to lead with full-funnel marketing strategies and bundling own-air endorsements with trackable digital solutions. Q: What is the current performance of the digital segment, and what are the key drivers of its margin improvement?A: (CEO) Digital revenue grew 8.1% on a same-station basis and accounted for 25% of total revenue. Digital segment operating margin improved 900 basis points quarter-over-quarter from 17.8% to 26.8%. This was driven by a shift in digital inventory mix from 49% owned-and-operated in Q1 to 55% in Q2, and continued programmatic growth from enhancements to our back-end tech stack, improving inventory access, targeting precision, and campaign optimization. Q: What is the outlook for Q3 2026, particularly regarding revenue pacing and digital mix?A: (CEO) For Q3, we are seeing continued softness across national and local agency channels, which account for roughly 45% of total revenue. Total revenue is pacing down high single-digits, excluding political. Local and national agency are pacing down 15% and 20%, respectively. On the positive side, local direct and digital are pacing up approximately 3% and 18%, respectively. We expect digital will account for between 25% and 30% of total revenue mix for the first time in Q3. Q: What are the key strategic investments planned for the remainder of 2026?A: (CEO) We are preparing to launch Display Plus later this quarter, pairing with Audio Plus to give advertisers full-funnel solutions and advanced attribution. We also launched a new video platform in select markets and expanded market newsletters. By the end of the year, we will launch our self-serve advertising platform, enabling SMBs to plan, purchase, and manage campaigns entirely online using AI-powered features, reducing dependence on traditional sales channels. Q: How are ratings and audience metrics performing across the company's brands?A: (CEO) According to Nielsen, our PPM market station ratings rose 14% year-over-year in AQH among the adult 25-54 demo. Four of our PPM stations in Boston, Charlotte, Detroit, and Philly ranked number one in their respective markets. Total Cume, including over-the-air, streaming, and podcasts, is up 7% year-over-year, and our social media audience has grown over 8% compared to last year. Q: What were the specific financial results for Q2 2026, including expenses and liquidity?A: (CFO) Q2 total operating expenses were down $4.6 million or 9.3% year-over-year. Station operating income was $8.2 million, reflecting a 15.6% margin. Adjusted for stock-based compensation and severance, SOI would have been $8.4 million with a 15.8% margin. Corporate expenses totaled $3.8 million, down 2.8% year-over-year. Adjusted EBITDA was $4.7 million. We ended Q2 with $13.7 million in cash and capital expenditures of $600,000. Q: What is the company's strategy regarding its capital structure and debt reduction?A: (CEO) We are focused on sharpening our capital structure through disciplined deleveraging, focused asset rationalization, and a clear commitment to long-term financial resilience. In May, we purchased $1.5 million of our stub notes, reducing the remaining balance to $2.8 million. We entered into agreements to sell assets totaling $26 million, and we plan to use the net proceeds to reduce debt and strengthen our capital structure. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

NAPLES, Fla., Aug. 12, 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 June 30, 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. Second Quarter 2026 Highlights Revenue from new business accounted for 13% of net revenue Local revenue, including digital packages sold locally, accounted for 74% of net revenue and grew 9% year-over-year Digital revenue was $11.7 million, down 11.6% year-over-year and a 7.1% increase on a same-station basis Digital revenue accounted for 26% of net revenue Digital segment operating margin was 15.4% 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. Through the exchange and repurchase of indebtedness, the Company reduced total outstanding debt by $95 million, including a 46% reduction in its second lien debt, resulting in a significant non-cash gain on extinguishment of debt that drove GAAP net income for the quarter. Beyond its accounting impact, the transaction materially lowers future cash interest expense, simplifies the Company's capital structure, and represents a meaningful step forward in Beasley's long-term strategy to improve free cash flow, reduce leverage, and create shareholder value. Net revenue during the three months ended June 30, 2026 decreased 9.6% on a same-station basis to $44.1 million, reflecting continued weakness in the Company's traditional national and local agency advertising businesses. These declines were partially offset by strength in digital revenues, including 7.1% same-station growth in digital revenue, and stabilization in local direct spot revenues. Operating expenses declined 13.2% year-over-year, reflecting the continued benefit of previously announced cost reduction initiatives and disciplined expense management across the organization. During the second quarter of 2026, the Company implemented approximately $10 million of additional annualized expense reductions, bringing total savings achieved over the trailing twelve months to roughly $30 million. Station Operating Income totaled $5.3 million, representing an SOI margin of 12.1%. Corporate expenses, including $367,275 of expenses related to our debt restructuring which closed on May 1,2026, declined 37.3% year-over-year, reflecting impacts from cost actions taken over the trailing twelve month period. Adjusted EBITDA was $5.3 million for the second quarter of 2026, compared to $4.7 million in the prior year period. Please refer to the "Reconciliation of Net Income (Loss) to Adjusted EBITDA" table at the end of this release. Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said: "While second quarter results continued to reflect pressure across portions of the traditional advertising marketplace, we are encouraged by the progress we're making in transforming Beasley into a more diversified, higher-margin media company. Our digital and local direct spot businesses continue to build momentum, our cost structure is significantly more efficient than it was a year ago, and we remain focused on improving the quality of our revenue. We believe these initiatives are creating a stronger operating foundation and positioning the Company for more consistent financial performance over the long term." "At the same time, we continue to execute against the financial priorities we established at the beginning of the year. We are operating with discipline, allocating capital thoughtfully, and taking deliberate actions to strengthen our balance sheet through debt reduction, portfolio optimization, and improved financial flexibility. These efforts, combined with our ongoing operational initiatives, are designed to improve cash flow generation and create long-term value for our shareholders." "Looking ahead, our strategy remains unchanged. We are focused on delivering sustainable revenue growth, expanding EBITDA through continued operating discipline and higher-margin revenue, and further reducing leverage over time. While the broader advertising environment remains dynamic, we believe the actions we are taking today are positioning Beasley to emerge as a stronger, more profitable, and more resilient company." Conference Call and Webcast Information The Company will host a conference call and webcast today, August 12, 2026 at 6:00 p.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 [email protected] at any time up until 4:00 p.m. ET on Wednesday, August 12, 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 Group The 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 [email protected]. Definitions EBITDA 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. 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 initiative. 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 Statements 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. 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; our stock may be subject to immediate and substantial dilution and other risks related to our at the market offering program; risks related to our ability to continue as a going concern for at least one year from the date of issuance of the financial statements included in this earnings release; the fact that our Company is controlled by the Beasley family, which creates difficulties for any attempt to gain control of our Company; and other 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 August 12, 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-reports-second-quarter-revenue-of-44-1-million-302850094.html

NAPLES, Fla., Aug. 9, 2026 /PRNewswire/ -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (the "Company"), a multi-platform media company, announced today that it will postpone the reporting of its Q2 2026 financial results and the date of the conference call and webcast to allow additional time to finalize the tax accounting treatment relating to the refinancing and debt restructuring that the Company completed during Q2 2026. The Company will make a further announcement in a subsequent press release to reschedule the date and time of the conference call and webcast to review its Q2 2026 financial results, which it expects will be held on or before Friday, August 14, 2026. About Beasley Broadcast Group Beasley Broadcast Group, Inc. (www.bbgi.com) was founded in 1961 by George G. Beasley and owns a total of 49 AM and FM stations in 9 large- and mid-size markets in the United States. Beasley radio stations reach roughly 18 million unique consumers 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. Note Regarding Forward-Looking Statements 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. 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; our stock may be subject to immediate and substantial dilution and other risks related to our at-the-market offering program; risks related to our ability to continue as a going concern; the fact that our Company is controlled by the Beasley family, which creates difficulties for any attempt to gain control of our Company; and other 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. We undertake no obligation to update the information contained herein to actual results or changes to our expectations, except as required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-announces-postponement-of-reporting-of-q2-2026-financial-results-and-date-of-conference-call-and-webcast-302846653.html

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management characterizes the current period as a 'controlled, data-driven transformation' focused on rebuilding the core revenue base while scaling higher-margin digital products. Performance attribution is bifurcated, with legacy national and agency-driven revenue under pressure while local direct and digital segments show resilience. The company is shifting from an inventory-based selling model to an outcome-based model, prioritizing integrated audio and digital bundles to improve client ROI and retention. Operational underperformance is viewed as a fixable execution issue rather than a structural failure, evidenced by market-share growth in the Tampa and Boston clusters. Digital revenue now represents over 25% of total revenue, with a strategic shift toward owned and operated (O&O) products which carry higher margins than third-party programmatic streams. Macroeconomic caution and reduced spend from national and agency-driven advertisers impacted categories such as automotive, entertainment, gaming, and restaurants, while healthcare and legal categories continued to show strength. A market-by-market intervention plan has been implemented to standardize sales discipline, utilizing CRM adoption and AI tools for prospecting. Second quarter revenue is expected to be down in the mid- to high single digits on a same-station basis, reflecting continued macro-level consumer strain. Management has set a benchmark for digital to represent at least 35% of total revenue at the market level as a key driver for long-term stability. The company implemented additional expense reductions in May, including an early retirement offering and operational streamlining, expected to generate $7 million in combined annualized savings. Future capital allocation will prioritize disciplined deleveraging, with management actively evaluating further debt reduction and potential asset sales to optimize the portfolio. Revenue recovery is expected to be gradual as operational changes, such as new sales talent onboarding and training, take time to translate into station operating income. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Completed a comprehensive second lien restructuring on May 1, exchanging approximately $184 million of existing notes into approximately $98 million of new PIK notes to reduce near-term interest burden. Generated proceeds from the sale of Fort Myers assets, of which nearly $15 million was utilized to pay down debt. Established a new $35 million asset-based credit facility (ABL) to provide working capital flexibility and liquidity support during the transition. Reported $700,000 in nonrecurring fees during the quarter specifically related to restructuring activities and asset sales.

NAPLES, 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 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 Information The 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 [email protected] 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 Group The 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 [email protected]. Definitions EBITDA 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 Statements 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. 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; and other 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-reports-first-quarter-revenue-of-42-6-million-302770387.html

Attributed 2025 revenue declines to accelerated structural weakness in Agency-driven traditional audio and the absence of $13.6 million in political spend. Implemented $30 million in annualized cost reductions through a comprehensive restructuring of the operating model rather than incremental optimization. Shifted digital strategy toward owned and operated (O&O) products to capture higher margins and move away from lower-margin third-party pass-through revenue. Optimized the portfolio by divesting non-core assets in Tampa and Fort Myers for $26 million to concentrate capital on high-return markets. Introduced a 'war room' operating cadence and a 5-day in-office requirement to improve CRM engagement, pipeline visibility, and sales accountability. Prioritized local-direct relationships to reduce historical over-reliance on volatile national and regional agency channels. Leveraged AI-driven prospecting and asset bundling (Audio, Digital, Events) to increase share of wallet and mitigate churn at the market level. Anticipates a 50% reduction in second-lien debt and a total debt decrease to $110 million following a comprehensive exchange expected to close in April 2026. Projects Q1 2026 same-station revenue to be down mid-single digits, though monthly trends showed improvement from January (-8%) to March (+3%). Assumes no recovery in National and Agency channels, building the 2026 plan entirely around local-direct growth and digital scaling. Expects a significant tailwind from the midterm election cycle as political advertising returns to key markets in the latter half of 2026. Targets a digital inflection point where incremental revenue contributes higher margins as the mix shifts further toward O&O platforms. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Recorded a $224.8 million non-cash impairment loss related to the write-down of SEC licenses. Received a 'going concern' qualification from auditors, which management expects to eliminate once the debt restructuring is finalized. Reported a 34% decline in National revenue for the full year, though management noted that excluding the impact of political advertising, the decline was 13%, reflecting a more normalized run rate and early signs of stabilization despite the shift of national advertisers away from traditional audio. Negotiating with an ABL lender to secure post-restructuring liquidity for ongoing operations. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

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 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 basis FY 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 basis Net 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 Information The 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 [email protected] 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 Group The 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 [email protected]. Definitions EBITDA 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 Statements 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, 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; and other 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/beasley-broadcast-group-reports-fourth-quarter-revenue-of-53-1-million-302736224.html