Beasley Broadcast Group reported third‑quarter 2025 results that saw net revenue fall 12.4% year‑over‑year to $51.0 million, a decline that aligns with the company’s guidance for a soft advertising market. The drop reflects continued agency‑channel softness and a broader downturn in traditional radio advertising demand.
Operating results turned negative, with an operating loss of $300 k and a net loss of $3.6 million. The loss contrasts with the $1.2 million operating income reported in Q3 2024, underscoring the revenue shortfall. Adjusted EBITDA also slipped to $3.9 million from $6.5 million in the prior year, driven by lower top line revenue and the need to absorb fixed costs in a leaner operating environment.
Digital revenue, which now accounts for roughly one‑quarter of total revenue, grew 14.6% year‑over‑year to $13.0 million. The segment’s operating margin reached 21% (28% on a same‑station basis), a modest improvement over the prior quarter and a clear sign that the company’s digital transformation is delivering higher‑margin inventory and more efficient cost structures.
Management highlighted a $15 million reduction in station operating and corporate expenses year‑to‑date, a result of disciplined cost controls and strategic asset sales, including the recent sale of WPBB‑FM. The expense discipline helped mitigate the impact of the revenue decline, but the company still posted an operating loss as the revenue shortfall outweighed the savings.
CEO Caroline Beasley emphasized that the company’s “quality of revenue mix continues to strengthen, led by sustained growth and record margins in our digital business.” The guidance remains unchanged, with revenue decline in line with expectations, indicating management’s confidence that the digital momentum will gradually offset traditional revenue erosion as the company continues to invest in digital platforms and streamline operations.
Because analyst consensus estimates for revenue and EPS were not available, the results cannot be classified as a beat or miss. However, the company’s ability to maintain a positive digital margin and achieve significant expense reductions suggests a strategic shift toward higher‑margin digital advertising, which could improve profitability in future quarters if the digital growth trajectory is sustained.
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