---
schema_version: "secwatch.filing_event.v1"
accession: "0001058623-25-000067"
form_type: "8-K"
ticker: "CMLS"
cik: "0001058623"
company_name: "CUMULUS MEDIA INC"
filed_at: "2025-10-30T23:59:59+00:00"
generated_at: "2026-05-17T01:13:18.338701+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cumulus Media Q3 net revenue down 11.5% to $180.3M; net loss widens to $20.4M

## Summary
- Net revenue $180.3M (-11.5% YoY); net loss $20.4M vs $10.3M loss; Adj. EBITDA $16.7M (-30.8%).
- Digital revenue $39.0M (-2.6% YoY, +8.4% ex-Daily Wire); digital marketing services +34%, now 50% of digital.
- Annualized fixed cost cuts of $7M in Q3; total since 2019 $182M (over 30% of cost base).
- Cash $90.4M; total debt $722.2M; net debt $606.7M; $23.9M debt due 2026.
- Diluted loss per share $1.17 vs $0.61 in Q3 2024.

## SEC filing metadata
- accession: 0001058623-25-000067
- form_type: 8-K
- ticker: CMLS
- cik: 0001058623
- company_name: CUMULUS MEDIA INC
- filed_at: 2025-10-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058623/000105862325000067/0001058623-25-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058623/000105862325000067/cmls-20251030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058623-25-000067
- JSON: https://secwatch.observer/filing/0001058623-25-000067.json
- Plain text: https://secwatch.observer/filing/0001058623-25-000067.txt

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