MDIA · MediaCo Holding Inc.

MediaCo Holding Inc. reported mixed fourth quarter 2025 results, with strong revenue growth offset by significant non-cash impairment charges. Fourth quarter revenue increased 17.9% year-over-year to $38.7 million, driven primarily by digital advertising revenue which represented 53.5% of advertising sales during the quarter. The company's full-year 2025 revenue grew 39.5% to $133.3 million, with digital revenue comprising 42.8% of advertising sales for the year. Management attributed the revenue growth to the April 2024 acquisition of Estrella Media, Inc. and a surge in digital revenue. However, the company reported a substantial net loss of $32.3 million for the quarter and $66.2 million for the full year, primarily due to non-cash items including impairment charges related to Audio Goodwill and FCC licenses, as well as changes in the fair value of warrant share liabilities. These losses were partially offset by strong revenue growth and lower corporate expenses following the Estrella acquisition. On a positive note, full-year Adjusted EBITDA improved to $7.3 million from a loss of $1.6 million in the prior year, reflecting higher revenue and improved operational management. CEO Albert Rodriguez highlighted the company's progress in building a multicultural media ecosystem and noted that digital revenue represented over 50% of fourth quarter results. The company also announced several business developments including the February 2026 launch of Sigma Audio Networks, a national multicultural audio network, and significant audience growth for EstrellaTV, which posted a 14% year-over-year increase in P18-49 prime time viewership. MediaCo continues to expand its distribution through new affiliate agreements and partnerships, positioning itself to target a multicultural population of 150 million nationwide.