Cumulus Media Q3 2024: revenue down 1.8% to $203.6M, net loss of $10.3M

CUMULUS MEDIA INC

2024-Q3 EPS reported -$3.10 revenue$608,500,000

Revenue $203.6M (down 1.8% YoY); net loss $10.3M vs net income $2.7M in Q3 2023.
Adjusted EBITDA $24.1M, down 10.7% from $26.9M in Q3 2023.
Digital revenue $40.0M (+7.5%); digital marketing services revenue grew 38% YoY.
Spot broadcast radio revenue fell 9.0% to $96.4M; network revenue up 5.5% to $42.6M.
Total debt at maturity $642.1M; cash $52.2M; net debt less unamortized discount $590.0M.

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