---
schema_version: "secwatch.filing_event.v1"
accession: "0001499832-22-000091"
form_type: "8-K"
ticker: "TSQ"
cik: "0001499832"
company_name: "Townsquare Media, Inc."
filed_at: "2022-11-09T23:59:59+00:00"
generated_at: "2026-06-22T01:08:19.509209+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001499832-22-000091
- form_type: 8-K
- ticker: TSQ
- cik: 0001499832
- company_name: Townsquare Media, Inc.
- filed_at: 2022-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499832/000149983222000091/0001499832-22-000091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499832/000149983222000091/tsq-20221109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001499832-22-000091
- JSON: https://secwatch.observer/filing/0001499832-22-000091.json
- Plain text: https://secwatch.observer/filing/0001499832-22-000091.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499832/000149983222000091/0001499832-22-000091-index.htm
- Earnings Releases
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499832/000149983222000091/0001499832-22-000091-index.htm
- Earnings Releases
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499832/000149983222000091/0001499832-22-000091-index.htm

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