---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-23-000049"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T07:57:14.150564+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media Q1 net loss widens to $21.5M; revenue down 11% to $205.7M

## Summary
- Net loss of $21.5M vs $0.9M loss in Q1 2022; Adjusted EBITDA fell 67% to $10.3M.
- Total net revenue $205.7M, down 11.4% YoY; broadcast radio revenue declined 12.5% and network fell 23%.
- Digital revenue rose to $32.1M (16% of total); digital marketing services grew 23% YoY.
- Completed sale of WFAS-FM for $7.3M; repurchased $1.5M in shares and retired $6.3M face debt at 90.1% of par.
- Total debt $713.1M, net debt $594.2M at lowest level in over a decade; cash from operations $23.7M.

## SEC filing metadata
- accession: 0001058623-23-000049
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1058623/000105862323000049/0001058623-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000049/cmls-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-23-000049
- JSON: https://secwatch.observer/filing/0001058623-23-000049.json
- Plain text: https://secwatch.observer/filing/0001058623-23-000049.txt

## Key facts
- Earnings Releases
  CUMULUS MEDIA INC reported the three months ended March 31, 2023 results: revenue $205.7 million, net income net loss of $21.5 million, EPS $(1.17) per basic share.
  - Period: the three months ended March 31, 2023
  - Revenue: $205.7 million
  - Net income: net loss of $21.5 million
  - EPS: $(1.17) per basic share
  - Result: reported results
  source text: are not only well-positioned to weather the current storm but will rebound strongly when the market eventually recovers." Q1 Performance Summary: • Posted total net revenue of $205.7 million, a decline of 11% year-over-year • Increased digital revenue to $32.1 million, representing 16% of total revenue ◦ Grew digital marketing services 23% year-over-year, driven by
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058623/000105862323000049/0001058623-23-000049-index.htm

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