---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-23-000009"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T01:22:29.953255+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001058623-23-000009
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/0001058623-23-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/cmls-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-23-000009
- JSON: https://secwatch.observer/filing/0001058623-23-000009.json
- Plain text: https://secwatch.observer/filing/0001058623-23-000009.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/0001058623-23-000009-index.htm
- Earnings Releases
  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
  source text: 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) %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000009/0001058623-23-000009-index.htm

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