---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-139415"
form_type: "8-K"
ticker: "SALM"
cik: "0001050606"
company_name: "SALEM MEDIA GROUP, INC. /DE/"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T07:56:59.259284+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Salem Media Q1 2023: Revenue up 1.4% to $63.5M, net loss $5.2M, Q2 revenue guidance down 5-7%

## Summary
- Total revenue $63.5M (+1.4% YoY); net loss $5.2M ($0.19/share) vs. net income $1.7M a year ago.
- Operating loss $4.2M (vs. income $5.0M in Q1 2022); EBITDA turned negative to $(0.6)M.
- Broadcast SOI down 46.4% to $5.5M; Digital Media Operating Income down 17% to $1.5M.
- Q2 2023 revenue expected to decline 5-7% YoY; operating expenses to increase 3-6%.
- Impairment of $2.1M on broadcast license for Miami station WMYM-AM; also closed several acquisitions.

## SEC filing metadata
- accession: 0001193125-23-139415
- form_type: 8-K
- ticker: SALM
- cik: 0001050606
- company_name: SALEM MEDIA GROUP, INC. /DE/
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050606/000119312523139415/0001193125-23-139415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050606/000119312523139415/d65454d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-139415
- JSON: https://secwatch.observer/filing/0001193125-23-139415.json
- Plain text: https://secwatch.observer/filing/0001193125-23-139415.txt

## Key facts
- Earnings Releases
  SALEM MEDIA GROUP, INC. /DE/ reported the three months ended March 31, 2023 results: revenue $63.5 million, net income net loss of $5.2 million, or $0.19 net loss per share, EPS $0.19 net loss per share.
  - Period: the three months ended March 31, 2023
  - Revenue: $63.5 million
  - Net income: net loss of $5.2 million, or $0.19 net loss per share
  - EPS: $0.19 net loss per share
  - Result: reported results
  source text: of operations for the quarter ended March 31, 2023. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 SALEM MEDIA GROUP, INC. ANNOUNCES FIRST QUARTER 2023 TOTAL REVENUE OF $63.5 MILLION IRVING, TX May 9, 2023 – Salem Media Group, Inc. (the “company”) (Nasdaq: SALM) released its results for the three months ended March 31, 2023. First Quarter 2023 Results For the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050606/000119312523139415/0001193125-23-139415-index.htm

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