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Beasley Broadcast Group Reports First Quarter Results

Beasley Broadcast Group, Inc. (Nasdaq: BBGI), a multi-platform media organization, has shared its financial results for the quarter ending March 31, 2025. The company reported a revenue of $48.9 million, a 10.1% decrease from the previous year's $54.4 million.

Financial Overview

Despite the overall decline in revenue, there were some positive outcomes reported by the company. New business revenue now contributes to 18% of total revenue, and local revenue, which includes digital packages sold locally, accounted for a significant 71% of the earnings.

In terms of digital performance, Beasley’s digital revenue held steady compared to Q1 2024 but showed an impressive 6% annual increase, reaching $10.8 million. This figure marked 22% of the quarter’s total revenue, echoing the growing importance of digital strategies.

However, the company also reported an operating loss of $2.0 million, up from a loss of $1.1 million during the same period last year. Beasley’s net loss this quarter was approximately $2.7 million or $1.50 per diluted share, contrasting sharply with a small profit of $8,000 or $0.01 per share in the first quarter of 2024. This shift is largely attributed to a $6.0 million gain achieved through the sale of an investment in Broadcast Music, Inc. in the previous year.

Key Highlights:

• - Net Revenue: $48.9 million
• - Operating Loss: $2.0 million
• - Net Income (Loss): $2.7 million
• - Adjusted EBITDA: $1.1 million, reflecting a year-on-year improvement from $0.9 million in 2024.

Comment from Leadership

Caroline Beasley, CEO, addressed the company's results, stating:

“While our revenue faced challenges from ongoing macroeconomic pressures, we successfully managed costs and maintained momentum in our digital offerings. The adaptation of our strategy is evident as digital accounts now for over 20% of our income.”

Caroline emphasized the company's focus on enhancing margins, accelerating digital growth, and creating long-term value for shareholders through innovative executions and tailored strategies. The upbeat sentiment was echoed as she expressed excitement over growth in high-margin digital products and the fruitful early response to new digital initiatives.

Looking Ahead

Beasley Broadcast Group plans to maintain its emphasis on transforming challenges into opportunities. The management is keen on leveraging its agile operational framework and expanding their differentiated content to continue engaging advertisers effectively. With 18 million listeners tuning into their 57 radio stations nationwide each week, Beasley demonstrates a robust connection with its audience through digital platforms and traditional media.

The company is set to hold a conference call today at 11:00 a.m. ET to elaborate on the financial results and upcoming strategies. Interested parties can join by dialing (800) 715-9871 or +1 (646) 307-1952, using conference ID 1613596**. For further details, stakeholders can visit www.bbgi.com.

In conclusion, while the first quarter of 2025 has indicated hurdles for Beasley Broadcast Group, the company's commitment to strategically focusing on digital expansion and improved operational efficiency paints an optimistic picture for the forthcoming quarters.