Cumulus Media reports FY2023 net loss of $117.9M, revenue down 11.4%; launches debt exchange

CUMULUS MEDIA INC

2023-FY EPS reported -$6.83 revenue$844,548,000

Net revenue $844.5M (-11.4% YoY); net loss $117.9M vs net income $16.2M; diluted EPS loss $6.83.
Adjusted EBITDA $90.7M (-45.3% YoY); digital revenue $146.4M (+2.9%).
Q4 net revenue $221.3M (-11.9% YoY); net loss $98.1M; adjusted EBITDA $22.8M (-46.6%).
Launches exchange of 6.750% notes due 2026 for 8.750% notes due 2029; term loan exchange.
Retired $43.6M debt at 77.4% of par; total debt retired $130.2M since start of 2022.

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 0.9

CUMULUS MEDIA INC reported the year ended December 31, 2023 results: revenue $ 844,548, net income $ (117,879), EPS $ (6.83).

Period: the year ended December 31, 2023
Revenue: $ 844,548
Net income: $ (117,879)
EPS: $ (6.83)
Result: reported results

Exact text from the filing

Net revenue $ 844,548 $ 953,506 (11.4) % Net (loss) income $ (117,879) $ 16,235 N/A Adjusted EBITDA $ 90,728 $ 165,982 (45.3) % Basic (loss) income per share $ (6.83) $ 0.83 N/A Diluted (loss) income per share $ (6.83) $ 0.81 N/A

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CUMULUS MEDIA INC reported the three months ended December 31, 2023 results: revenue $ 221,301, net income $ (98,066), EPS $ (5.94).

Period: the three months ended December 31, 2023
Revenue: $ 221,301
Net income: $ (98,066)
EPS: $ (5.94)
Result: reported results

Exact text from the filing

Net revenue $ 221,301 $ 251,270 (11.9) % Net loss $ (98,066) $ (54) 181,503.7 % Adjusted EBITDA $ 22,798 $ 42,717 (46.6) % Basic loss per share $ (5.94) $ (0.00) N/A Diluted loss per share $ (5.94) $ (0.00) N/A

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

CUMULUS MEDIA INC filing history →

Source: SEC EDGAR

accession 0001058623-24-000026

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