Beasley Broadcast Group (BBGI) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 was $42.6 million, down 12.9% year-over-year, primarily due to declines in audio revenue and the sale of Fort Myers stations, but partially offset by digital growth.

• Digital revenue comprised 25% of total revenue, growing 18.2% year-over-year on a same-station basis, while overall digital revenue remained flat at $10.7 million.

• Operating income improved to $7.7 million from a loss of $0.3 million in Q1 2025, and net income reached $3.2 million, reversing a net loss of $2.7 million, mainly due to gains on asset sales.

• The company completed major debt restructuring and asset sales, improving liquidity and capital structure.

• Strategic focus remains on stabilizing core revenue, scaling higher-margin digital business, and strengthening the balance sheet through deleveraging.

Financial highlights

• Q1 2026 net revenue was $42.6 million, down from $48.9 million in Q1 2025.

• Audio segment revenue fell 16.4% year-over-year to $31.9 million; digital revenue was $10.7 million.

• Adjusted EBITDA was negative $0.4 million, down from $1.1 million in Q1 2025.

• Operating expenses decreased 6.8% to $42.2 million, reflecting cost management and asset sales.

• Cash and cash equivalents stood at $6.4 million as of March 31, 2026.

Outlook and guidance

• Management projects sufficient liquidity through May 31, 2027, following debt restructuring and a new $35 million credit facility.

• Strategic focus is on stabilizing and rebuilding local direct revenue, scaling higher-margin digital products, and reducing leverage.

• Macro pressures and operational changes are expected to impact near-term results, but leading indicators are improving.