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Saga Communications (SGA) investor relations material
Saga Communications Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Net revenue for Q3 2025 decreased 1.8% year-over-year to $28.2 million, primarily due to a music licensing settlement impacting expenses and operating results.
Q3 2025 saw a net loss of $532,000 versus net income of $1.3 million in Q3 2024; nine-month net loss was $979,000 compared to $2.2 million net income in 2024.
Interactive revenue growth offset most of the broadcast revenue decline when adjusted for political revenue.
Digital transformation and blended strategy are gaining traction, with strong local direct revenue and digital pacing.
Station operating expenses increased due to a $2.1 million retroactive music licensing settlement.
Financial highlights
Station operating expense increased by $2 million in Q3, mainly due to retroactive music licensing settlements with ASCAP and BMI.
Gross broadcast revenue (including NTR) decreased $1.8 million (6.8%), while gross interactive revenue rose $1.1 million (32.6%) year-over-year.
For the nine months ended September 30, 2025, net revenue fell 3.7% to $80.6 million.
Q3 2025 net loss: $532,000 (down $1.8 million year-over-year).
Interactive advertising revenue grew 17.1% year-over-year for the nine months ended September 30, 2025.
Outlook and guidance
Q4 pacing is down 11% including political, and 4.7% excluding political, but interactive revenue is pacing up 32%.
Station operating expense expected to be flat for 2025 versus 2024, with a 2–3% decrease possible excluding the settlement.
Annual corporate G&A expense projected at $12 million for 2025.
Capital expenditures for 2025 expected between $3.0 million and $3.75 million, funded by operations.
Company intends to use proceeds from non-core asset sales to fund stock buybacks.
Progress on 2x digital revenue target
Timeline for tower sale proceeds buyback plan
Why is radio spot advertising weak?
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Next Saga Communications earnings date
Q4 202513 Mar, 2026
Next Saga Communications earnings date
Q4 202513 Mar, 2026
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Frequently asked questions
Saga Communications, Inc. is a broadcasting company focused on operating radio stations across the United States. The company owns and operates FM and AM radio stations, offering a variety of programming formats that include music, news, sports, and talk shows. Saga Communications primarily serves mid-sized markets, catering to local audiences with content tailored to community interests. The company is headquartered in Grosse Pointe Farms, Michigan, and its shares are listed on the NASDAQ.
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