Cumulus Media Reports Operating Results for Q3
ATLANTA, Oct. 30, 2025 — Cumulus Media Inc. (OTCQB: CMLS) has unveiled its operating results for the third quarter. Despite an advertising climate that remains challenging for legacy media, the company has performed admirably, gaining market share in both traditional broadcast and digital sectors.
Mary G. Berner, the President and CEO, expressed optimism about the company’s strategic direction, highlighting a remarkable 34% growth in their digital marketing services. During challenging times, the emphasis on AI initiatives to enhance operational efficiency has become a key focus.
Quarterly Highlights
The third quarter presented several significant highlights for Cumulus Media, demonstrating resilience and adaptability:
- Total net revenue arrived at $180.3 million, reflecting an 11.5% decline year-over-year.
- Digital revenue was reported at $39.0 million, marking a 2.6% decrease year-over-year, with an increase of 8.4% when excluding the impact from discontinued partnerships.
- The company experienced a net loss of $20.4 million, compared with losses of $10.3 million during the same quarter last year.
- Actions taken to reduce costs resulted in annualized fixed cost reductions of $7 million, accumulating a total of $20 million so far, alongside over $182 million in fixed cost reductions since 2019.
- Adjusted EBITDA for the quarter totaled $16.7 million, down from $24.1 million in Q3 2024.
- As of September 30, 2025, the company had $90.4 million in cash. Total debt listed at $722.2 million, with a net debt less total unamortized discount of $606.7 million.
Financial Performance Over Nine Months
In analyzing the performance over the nine months leading up to September 30, 2025, the company recorded:
- Net revenue of $553.6 million, reflecting a 9% decline year-over-year.
- Net loss amounting to $65.6 million for the same time frame, marking an increase from the previous $52.2 million loss.
- Adjusted EBITDA for the first nine months was $42.5 million, declining from $57.7 million in the prior year.
Looking Ahead
Cumulus Media's strategic efforts focus on optimizing performance in controllable areas, and while the current market challenges may linger, the leadership is confident in positioning the company for long-term success. The initiatives in digital marketing reflect a commitment to innovation and adaptability in an evolving media landscape.
Key Digital Growth Initiatives
The digital marketing segment is significantly contributing to the company’s overall revenue mix, representing approximately 50% of total digital revenue. The growth achieved here fortifies the business’s strategic pivot towards innovative marketing solutions, enabling the company to attract and serve a broader audience.
Frequently Asked Questions
What were Cumulus Media's total revenue figures for Q3 2025?
Total net revenue for Q3 2025 was $180.3 million.
What digital revenue performance did Cumulus Media report?
The company reported digital revenue of $39.0 million for Q3 2025, declining by 2.6% year-over-year.
How much was the net loss for the quarter?
Cumulus Media recorded a net loss of $20.4 million in Q3 2025.
What cost-saving measures have been implemented?
The company achieved annualized fixed cost reductions of $7 million in Q3 2025, contributing to a total of $20 million year-to-date.
What is the outlook for Cumulus Media?
Leadership remains confident in the company’s ability to navigate current market challenges, focusing on long-term growth through strategic innovations and efficiency improvements.
