secwatch.observer — SEC 8-K summary
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Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0001058623-24-000100
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media Q2 net loss widens to $27.7M; revenue down 2.5% YoY
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- Q2 revenue $204.8M (-2.5% YoY); net loss $27.7M vs $1.1M loss in Q2 2023.
- Adjusted EBITDA $25.2M, down 17.8% YoY; diluted loss per share $1.64.
- Digital revenue up 5% to $39.4M; digital marketing services grew 24% YoY.
- Completed debt exchange: reduced debt by ~$33M, extended maturities to 2029, ABL upsized to $125M.
- Fixed costs reduced by ~$4M YoY; cash from ops ex-exchange costs $8.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862324000100/0001058623-24-000100-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862324000100/cmls-20240802.htm
  HTML page:      https://secwatch.observer/filing/0001058623-24-000100

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer