Townsquare posts record Q3 net revenue of $120.6M (+8.4% YoY) and Adj. EBITDA of $30.9M (+6% YoY)

Townsquare Media, Inc.

Diluted EPS $0.13; adjusted diluted EPS $0.47; net income $2.8M vs $12.9M due to $10.3M FCC license impairment.
Total digital revenue up 16.6% YoY; digital advertising +21.3%, subscription digital marketing +9.7%.
Net leverage fell to all-time low of 4.54x; gross leverage 4.79x based on trailing 12-month Adj. EBITDA of $110.9M.
Q4 guidance: net rev $116-122M (+5-10% YoY), Adj. EBITDA $27.7-30.7M (+8-20% YoY).
Completed Cherry Creek acquisition for $18.4M net; repurchased $19.2M of 2026 secured notes.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Townsquare Media, Inc. reported third quarter ended September 30, 2022 results: revenue $120.6 million, net income $2.8 million, EPS $0.13. Guidance reaffirmed.

Period: third quarter ended September 30, 2022
Revenue: $120.6 million
Net income: $2.8 million
EPS: $0.13
Guidance: reaffirmed
Result: reported results

Exact text from the filing

September 30, 2022 Compared to the Quarter Ended September 30, 2021 Net Revenue Net revenue for the three months ended September 30, 2022 increased $9.4 million, or 8.4%, to $120.6 million as compared to $111.3 million in the same period in 2021. Digital Advertising net revenue increased $6.5 million, or 21.3%, and Subscription Digital Marketing Solutions net

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Townsquare Media, Inc. reported full year 2022 results: revenue between approximately $459 million and $465 million. Guidance initiated.

Period: full year 2022
Revenue: between approximately $459 million and $465 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the full year 2022, net revenue is expected to be between approximately $459 million and $465 million (+10% to +11% as compared to the prior year), and Adjusted EBITDA is expected to be between approximately $113 million and $116 million (+8% to +10% as compared to the prior year).

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Townsquare Media, Inc. reported fourth quarter of 2022 results: revenue between $116.0 million and $122.0 million. Guidance initiated.

Period: fourth quarter of 2022
Revenue: between $116.0 million and $122.0 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the fourth quarter of 2022, net revenue is expected to be between $116.0 million and $122.0 million (+5% to +10% as compared to the prior year), and Adjusted EBITDA is expected to be between $27.7 million and $30.7 million (+8% to +20% as compared to the prior year).

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Source: SEC EDGAR

accession 0001499832-22-000091

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