CEO Alfred Liggins, III Expects Q4 Revenue of $97.8M
Reports Q4 revenue $97.8M vs. $117.13Mlast year. CEO Alfred Liggins, III, stated, "As expected, we had a tough Q4 due to a combination of non-recurring political advertising, soft radio markets and declining audience delivery in our cable television business. Despite this, we were able to achieve full year Adjusted EBITDA within our previous guidance range at $56.7M. The biggest revenue drag in Q4 resulted from weak cable TV prime delivery, down approximately 20.0% from the third quarter, although we have seen a significant recovery in Q1 2026 as the revised Nielsen methodology has given us an approximate 40.0%-50.0% lift compared to Q4 2025. Radio pacings in Q1 of 2026 are currently (5.0%), but we remain positive on the outlook for mid-term political revenues later in the year. I was pleased that we were able to repurchase a significant amount of our 2028 Notes at a discount, extend out the maturity on all but a small stub of the notes, and increase the size and term of our ABL Credit Agreement. This transaction sets up the company with a stable capital structure and extended maturity runway to allow us to continue to de-lever the business. In January 2026 we also regained compliance with the Nasdaq listing requirements by effectuating a 1-for-10 reverse stock split."
