Townsquare Q1 revenue and EBITDA set records; digital now 51% of revenue

Townsquare Media, Inc.

Net revenue rose 12.9% YoY to ~$100.6M; Adjusted EBITDA up 9.8% to $22.1M, both Q1 records.
Digital revenue grew 15.9% to $51.1M (51% of total); digital adjusted operating income was 55% of total.
Net income improved to $2.7M from a loss of $6.1M; Townsquare Interactive added ~1,050 net subscribers.
Net leverage at 4.66x; expects to reduce to 4.0x by year-end. Reaffirmed FY 2022 revenue guidance of $460-475M.
Announced accretive acquisition of Cherry Creek Broadcasting LLC for $18.75M.

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