0001104659-26-043166
SEC filingSaga Communications reported a materially challenging fiscal year 2025, with revenue declining 5.1% and operating income swinging to a $11.0M loss—driven primarily by non-cash impairment charges—while digital revenue growth and stable station operating expenses reflected underlying operational discipline.
Revenue for fiscal year 2025 totaled $107.1 million, a 5.1% decline from $112.9 million in fiscal year 2024. As stated in Item 7, this decrease was primarily driven by lower gross national revenue across several markets—including Charleston, South Carolina; Columbus, Ohio; Manchester, New Hampshire; Ocala, Florida; and Portland, Maine—partially offset by an increase in the Norfolk, Virginia market. The narrative does not quantify market-level contributions or attribute changes to macroeconomic or competitive factors beyond this geographic pattern.
Operating income decreased to a loss of $11.0 million in FY2025, compared to income of $2.4 million in FY2024. Management explicitly attributes the decline in net income to the decrease in operating income, which resulted “primarily from the non-cash impairment charges described above.” While the authoritative financial packet confirms the magnitude of the impairment impact through the operating income swing, no further breakdown of impairment components (e.g., goodwill vs. broadcast licenses) or triggering thresholds is supported by the validated data or business context.
Net income was -$7.9 million in FY2025, down from $3.5 million in FY2024—a 328.3% decline. Diluted earnings per share was -$1.22, compared to $0.55 in the prior year. This EPS change reflects both the net income decline and the weighted-average diluted share count used in the GAAP calculation; no adjustments or share repurchase activity are disclosed in the authoritative or business context packets.