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comScore Inc. (SCOR+3.30%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing total revenues of $356 million, a decrease from $371 million in the previous year. The decline in revenue is primarily attributed to lower renewals of national TV and syndicated digital products.
Cost of revenues increased slightly to $208.7 million, representing 58.6% of sales, compared to 55.3% in the previous year. This increase was driven by higher data licensing costs and depreciation expenses.
The company reported a net loss of $60.2 million for the year, compared to a net loss of $79.4 million in 2023. The loss includes a $63 million non-cash impairment charge related to goodwill.
Cash provided by operating activities was $18.1 million, while cash used in investing activities was $24.1 million, primarily for capitalized internal-use software costs.
comScore entered into a new senior secured financing agreement with Blue Torch Finance LLC, providing a $60 million borrowing capacity, including a $45 million term loan.
The filing details the issuance of additional shares of Series B Convertible Preferred Stock to existing holders in exchange for the cancellation of accrued dividends totaling $32.8 million.
comScore's management continues to focus on enhancing its product offerings and expanding its data footprint to better serve its customers in the media measurement and analytics industry.
The company identified a material weakness in its internal controls over financial reporting due to the impairment of goodwill and certain office space lease right-of-use assets.
comScore does not anticipate cash dividend payments to common stockholders in the near future due to restrictions under its new credit agreement.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the comScore Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.