---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-006865"
form_type: "8-K"
ticker: "SGA"
cik: "0000886136"
company_name: "SAGA COMMUNICATIONS INC"
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T06:19:39.743450+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Saga Q1 net revenue down 4.3% to $24.2M; non-GAAP station operating income falls to $2.2M

## Summary
- Net revenue $24.2M, down 4.3% YoY; net loss $1.6M ($0.25 diluted loss), consistent with prior year.
- Station operating income (non-GAAP) fell to $2.2M from $2.8M; operating loss narrowed to $2.3M from $2.4M.
- Q2 pacing: currently down mid-single digits; April down high-single, May low-single, June approx flat.
- Incurred $110k in expenses related to a Saga shareholder's potential proxy contest.
- Declared quarterly dividend $0.25/share; plans to use non-core asset sale proceeds for stock buybacks.

## SEC filing metadata
- accession: 0001558370-25-006865
- form_type: 8-K
- ticker: SGA
- cik: 0000886136
- company_name: SAGA COMMUNICATIONS INC
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886136/000155837025006865/0001558370-25-006865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886136/000155837025006865/sga-20250508x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-006865
- JSON: https://secwatch.observer/filing/0001558370-25-006865.json
- Plain text: https://secwatch.observer/filing/0001558370-25-006865.txt

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