Townsquare Media, Inc.

Townsquare Media, Inc. (TSQ) reported FY 2025 net revenue of $427.4 million, down 5.2% YoY from $451.0 million, driven by a 12.6% decline in Broadcast Advertising to $183.4 million due to lower client purchases and political revenue, partially offset by 1.6% growth in Digital Advertising to $161.2 million. Subscription Digital Marketing Solutions dipped 0.7% to $74.8 million amid reduced sales velocity. Operating income rose sharply 103.8% to $44.2 million from $21.7 million, boosted by $28.8 million lower impairment charges, $8.5 million reduced direct expenses, and $8.1 million higher net gains on asset sales. Net loss narrowed to $9.8 million from $10.9 million, with diluted EPS at -$1 on 16.2 million shares. Cash from operations fell to $30.6 million from $48.7 million, reflecting higher interest payments, while capex was $15.2 million. Balance sheet shows $528.6 million assets, $569.6 million liabilities, and -$41.0 million stockholders' deficit, with long-term debt at $421.2 million. Digital segments now 55% of revenue, underscoring 'Digital First' shift amid stable radio audience but broadcast revenue pressure.

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