Meta to end ASP relationship with Entravision by July 1; $586M revenue at risk

ENTRAVISION COMMUNICATIONS CORP

Meta informed Entravision it will wind down its Authorized Sales Partner program globally, ending relationship by July 1, 2024.
FY2023 Meta ASP revenue was $586.4M (53% of total $1,106.9M); associated EBITDA was $23.8M of $57.7M total.
FY2023 net loss attributable to common stockholders of $15.4M ($0.18 per share) vs. income of $18.1M in 2022.
Board declared quarterly cash dividend of $0.05 per share, payable March 29, 2024 to holders of record March 15.
Company initiated review of operating strategy and cost structure; balance sheet has $118.9M cash and marketable securities.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENTRAVISION COMMUNICATIONS CORP reported Three Months Ended December 31, 2023 results: revenue $ 320,063, net income $ (18,051 ), EPS $ (0.21 ).

Period: Three Months Ended December 31, 2023
Revenue: $ 320,063
Net income: $ (18,051 )
EPS: $ (0.21 )
Result: reported results

Exact text from the filing

Unaudited Financial Highlights (In thousands, except share and per share data) Three Months Ended Twelve Months Ended December 31, December 31, 2023 2022 % Change 2023 2022 % Change Net revenue $ 320,063 $ 296,328 8 % $ 1,106,867 $ 956,209 16 % Cost of revenue - digital (1) 237,520 191,965 24 % 800,401 623,916 28 % Operating expenses (2) 57,380 57,249 0 % 220,449 197,776 11 % Corporate expenses (3) 14,458 22,635 (36 )% 50,294 49,404 2 % Foreign currency (gain) loss 611 860 (29 )% 900 2,972 (70 )% Consolidated EBITDA (4) 16,246 36,524 (56 )% 57,666 103,090 (44 )% Free cash flow (5) $ (2,076 ) $ 19,299 * $ 7,394 $ 63,325 (88 )% Net income (loss) $ (18,051 ) $ 725 * $ (15,621 ) $ 20,169 * Net (income) loss attributable to redeemable noncontrolling interest $ (157 ) $ - * $ (158 ) $ - * Net (income) loss attributable to noncontrolling interest $ - $ (2,353 ) (100 )% $ 342 $ (2,050 ) * Net income (loss) attributable to common stockholders $ (18,208 ) $ (1,628 ) 1018 % $ (15,437 ) $ 18,119 *

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENTRAVISION COMMUNICATIONS CORP reported Twelve Months Ended December 31, 2023 results: revenue $ 1,106,867, net income $ (15,621 ), EPS $ (0.18 ).

Period: Twelve Months Ended December 31, 2023
Revenue: $ 1,106,867
Net income: $ (15,621 )
EPS: $ (0.18 )
Result: reported results

Exact text from the filing

Unaudited Financial Highlights (In thousands, except share and per share data) Three Months Ended Twelve Months Ended December 31, December 31, 2023 2022 % Change 2023 2022 % Change Net revenue $ 320,063 $ 296,328 8 % $ 1,106,867 $ 956,209 16 % Cost of revenue - digital (1) 237,520 191,965 24 % 800,401 623,916 28 % Operating expenses (2) 57,380 57,249 0 % 220,449 197,776 11 % Corporate expenses (3) 14,458 22,635 (36 )% 50,294 49,404 2 % Foreign currency (gain) loss 611 860 (29 )% 900 2,972 (70 )% Consolidated EBITDA (4) 16,246 36,524 (56 )% 57,666 103,090 (44 )% Free cash flow (5) $ (2,076 ) $ 19,299 * $ 7,394 $ 63,325 (88 )% Net income (loss) $ (18,051 ) $ 725 * $ (15,621 ) $ 20,169 * Net (income) loss attributable to redeemable noncontrolling interest $ (157 ) $ - * $ (158 ) $ - * Net (income) loss attributable to noncontrolling interest $ - $ (2,353 ) (100 )% $ 342 $ (2,050 ) * Net income (loss) attributable to common stockholders $ (18,208 ) $ (1,628 ) 1018 % $ (15,437 ) $ 18,119 *

View on SEC.gov

710 earnings releases filed in the last 30 days. Browse all earnings releases →

ENTRAVISION COMMUNICATIONS CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-025934

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.