Bright Mountain Media Q1 revenue surges 731% to $12.4M; net loss widens to $4.8M

Bright Mountain Media, Inc.

2024-Q1 EPS reported -$0.03 revenue$12,448,000

Revenue $12.4M, up 731% from $1.5M, driven by Big Village acquisition (consumer insights, creative, media services).
Gross margin $3.1M vs $528k (+494%); net loss $4.8M vs $3.8M (+26%).
Adjusted EBITDA loss improved to $1.2M from $2.1M loss in prior year.
Revenue breakdown: consumer insights $6.7M, ad tech $2.6M, creative services $2.1M, media services $641k, digital pub $434k.
CEO cites synergies from Big Village integration and AI-enabled marketing platform.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bright Mountain Media, Inc. reported first quarter ended March 31, 2024 results: revenue $12.4 million, net income Net loss was $4.8 million.

Period: first quarter ended March 31, 2024
Revenue: $12.4 million
Net income: Net loss was $4.8 million
Result: reported results

Exact text from the filing

press release. --- EX-99.1 (EX-99.1) --- Bright Mountain Media, Inc Announces First Quarter 2024 Financial Results ■ First quarter revenue increased by $10.9 million to $12.4 million compared to $1.5 million for the first quarter of 2023. ■ First quarter gross margin increased by $2.6 million to $3.1 million compared to $528,000 for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001628280-24-023293

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