Townsquare Q3 net revenue $111.3M (+16.7% YoY), Adj. EBITDA $29.2M (+66.5%); raises FY guidance

Townsquare Media, Inc.

Net revenue $111.3M (+16.7% YoY), 99% of Q3 2019; net income $12.9M vs $1.3M YoY.
Adjusted EBITDA $29.2M (+66.5%); FY2021 guidance raised to at least $415M revenue, $104-105M Adj. EBITDA.
Digital revenue 47% of total net revenue (ex-political) YTD 2021; Townsquare Interactive +16.2% to $21.1M.
Net leverage reduced to 4.9x from 7.8x YoY; $550M 6.875% senior secured notes issued.
Completed repurchase of Oaktree's equity interest at $6.40/security (19% discount to pre-announcement).

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