Beasley Broadcast Group Inc

NASDAQ:BBGIUnited States

07:03 AM EST, 11/05/2024 (MT Newswires) -- ...

expenses 358,206 177,814 773,258 533,421 ----------- ----------- ------------ ------------ Adjusted EBITDA $ 5,552,879 $ 5,966,950 $ 15,161,737 $ 16,694,057 =========== =========== ============ ============ Reconciliation of Net Loss to Adjusted EBITDA -- Unaudited Three months ended Nine months ended September 30, September 30, --------------------------- ----------------------------- 2024 2023 2024 2023 Net loss $(3,560,575) $(67,536,837) $(3,829,626) $(81,504,032) Interest expense 6,092,820 6,445,746 17,773,957 19,764,067 Income tax benefit (1,309,803) (23,299,388) (1,796,019) (26,285,207) Depreciation and amortization 1,788,126 2,201,664 5,455,622 6,626,974 ---------- ----------- ---------- ----------- EBITDA 3,010,568 (82,188,815) 17,603,934 (81,398,198) Severance expenses 1,247,305 279,700 2,501,502 279,700 Stock-based compensation 358,206 177,814 773,258 533,421 FCC licenses impairment losses - 78,204,065 - 88,245,065 Goodwill impairment losses 922,000 10,582,360 922,000 10,582,360 Gain on sale of investment - - (6,026,776) - Other loss (income), net 75,120 (1,106,918) (552,145) (1,684,168) Equity in earnings of unconsolidated affiliates, net of tax (60,320) 18,744 (60,036) 135,877 ---------- Adjusted EBITDA $ 5,552,879 $ 5,966,950 $15,161,737 $ 16,694,057 ========== =========== ========== =========== Calculation of Same-Station Net Digital Revenue, excluding dispositions -- Unaudited Three months ended Nine months ended September 30, September 30, -------------------------- ---------------------------- 2024 2023 2024 2023 Net digital revenue $11,300,196 $11,177,881 $35,257,992 $33,455,935 Dispositions (207,412) (1,242,707) (1,653,725) (3,878,564) ---------- ---------- ---------- ---------- Same-station net digital revenue $11,092,784 $ 9,935,174 $33,604,267 $29,577,371 ========== ========== ========== ========== Reconciliation of Same-Station Net Digital Revenue, excluding dispositions to Net Revenue -- Unaudited Three months ended Nine months ended September 30, September 30, ---------------------------- -------------------------------- 2024 2023 2024 2023 Net revenue $ 58,190,116 $ 60,119,757 $ 173,006,119 $ 181,360,600 Net audio revenue (46,889,920) (48,332,715) (137,748,127) (146,198,774) Net other revenue - (609,161) - (1,705,891) ----------- ----------- ------------ ------------ Net digital revenue 11,300,196 11,177,881 35,257,992 33,455,935 Dispositions (207,412) (1,242,707) (1,653,725) (3,878,564) ----------- ----------- ------------ ------------ Same-station net digital revenue $ 11,092,784 $ 9,935,174 $ 33,504,207 $ 29,577,371 =========== =========== ============ ============ CONTACT: B. Caroline Beasley Joseph Jaffoni, Jennifer Neuman Chief Executive Officer JCIR Beasley Broadcast Group, Inc. 212/835-8500 or bbgi@jcir.com 239/263-5000 or ir@bbgi.com