---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-22-000156"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2022-10-28T23:59:59+00:00"
generated_at: "2026-06-22T22:22:20.706133+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media Q3 revenue down 1.8% to $233.5M; net income $8.5M vs $27.4M (prior year included $20.8M land sale gain)

## Summary
- Revenue $233.5M (-1.8% YoY); net income $8.5M (down 68.9%, but prior year had $20.8M land sale gain).
- Adjusted EBITDA $46.6M (+1.6% YoY) as cost reductions offset revenue decline.
- Digital revenue grew 5%, led by digital marketing services +12% and streaming +11%.
- Reduced net leverage from 4.7x to 3.7x; repurchased 415K shares for $3.9M at avg $9.43.

## SEC filing metadata
- accession: 0001058623-22-000156
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2022-10-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/0001058623-22-000156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/cmls-20221028.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-22-000156
- JSON: https://secwatch.observer/filing/0001058623-22-000156.json
- Plain text: https://secwatch.observer/filing/0001058623-22-000156.txt

## Key facts
- Earnings Releases
  CUMULUS MEDIA INC reported the nine months ended September 30, 2022 results: revenue $ 702,236, net income $ 16,289, EPS Diluted income (loss) per share $ 0.81.
  - Period: the nine months ended September 30, 2022
  - Revenue: $ 702,236
  - Net income: $ 16,289
  - EPS: Diluted income (loss) per share $ 0.81
  - Result: reported results
  source text: As Reported Nine Months Ended September 30, 2022 Nine Months ended September 30, 2021 % Change Net revenue $ 702,236 $ 664,163 5.7 % Net income (loss) $ 16,289 $ (360) N/A Adjusted EBITDA (1) $ 123,265 $ 91,617 34.5 % Basic income (loss) per share $ 0.82 $ (0.02) N/A Diluted income (loss) per share $ 0.81 $ (0.02) N/A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/0001058623-22-000156-index.htm
- Earnings Releases
  CUMULUS MEDIA INC reported the three months ended September 30, 2022 results: revenue $ 233,463, net income $ 8,540, EPS Diluted income per share $ 0.45.
  - Period: the three months ended September 30, 2022
  - Revenue: $ 233,463
  - Net income: $ 8,540
  - EPS: Diluted income per share $ 0.45
  - Result: reported results
  source text: As Reported Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 % Change Net revenue $ 233,463 $ 237,716 (1.8) % Net income $ 8,540 $ 27,448 (68.9) % Adjusted EBITDA (1) $ 46,567 $ 45,828 1.6 % Basic income per share $ 0.45 $ 1.34 N/A Diluted income per share $ 0.45 $ 1.32 N/A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862322000156/0001058623-22-000156-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.