Cumulus Media reports 2022 revenue up 4% to $953.5M, Adjusted EBITDA up 23% to $166.0M

CUMULUS MEDIA INC

2022-FY EPS reported $0.81 revenue$953,506,000

Full-year net revenue $953.5M (+4% YoY); digital revenue $142M+ (+12%).
Net income $16.2M (-6% YoY) includes $15.5M non-cash FCC impairment charge.
Adjusted EBITDA $166.0M (+23% YoY); margin improved ~270 bps.
Q4 net revenue $251.3M (-0.4% YoY); net loss $0.1M; Adjusted EBITDA $42.7M (-1.2%).
Reduced gross debt by $86.5M; net leverage improved from 4.7x to 3.7x; completed $31.8M in share repurchases.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CUMULUS MEDIA INC reported three months ended December 31, 2022 results: revenue $251,270, net income $(54), EPS $(0.00).

Period: three months ended December 31, 2022
Revenue: $251,270
Net income: $(54)
EPS: $(0.00)
Result: reported results

Exact text from the filing

As Reported Three Months Ended December 31, 2022 Three Months Ended December 31, 2021 % Change Net revenue $ 251,270 $ 252,304 (0.4) % Net (loss) income $ (54) $ 17,639 N/A Adjusted EBITDA $ 42,717 $ 43,241 (1.2) % Basic (loss) income per share $ (0.00) $ 0.86 N/A Diluted (loss) income per share $ (0.00) $ 0.84 N/A

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CUMULUS MEDIA INC reported year ended December 31, 2022 results: revenue $953,506, net income $16,235, EPS $0.83.

Period: year ended December 31, 2022
Revenue: $953,506
Net income: $16,235
EPS: $0.83
Result: reported results

Exact text from the filing

As Reported Year Ended December 31, 2022 Year Ended December 31, 2021 % Change Net revenue $ 953,506 $ 916,467 4.0 % Net income $ 16,235 $ 17,278 (6.0) % Adjusted EBITDA $ 165,982 $ 134,857 23.1 % Basic income per share $ 0.83 $ 0.84 (1.2) % Diluted income per share $ 0.81 $ 0.83 (2.4) %

View on SEC.gov

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

CUMULUS MEDIA INC filing history →

Source: SEC EDGAR

accession 0001058623-23-000009

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.