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Entravision Communications Corporation (EVC+0.27%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Entravision's net revenue for 2024 was $364.9 million, an increase from $297.0 million in 2023. This growth was driven by a rise in both media and advertising technology & services revenues.
The media segment's revenue increased to $222.1 million, up from $196.3 million in the prior year, largely due to higher broadcast advertising and digital advertising revenue.
The advertising technology & services segment saw its revenue grow to $142.9 million from $100.8 million, attributed to increased advertising revenue from Smadex and Adwake.
The company reported a net loss attributable to common stockholders of $148.9 million for 2024, compared to a net loss of $15.4 million in 2023. The loss was influenced by impairment charges and costs related to the sale of its EGP business.
Entravision completed the sale of its EGP business in June 2024, following Meta Platforms, Inc.'s decision to end its ASP program, which significantly impacted Entravision's operations.
The company recorded impairment charges of $61.2 million related to goodwill and FCC licenses in its media segment, reflecting updated forecasts and market conditions.
Entravision's cash flow from operations remained positive at $74.7 million, slightly down from $75.2 million in the previous year.
The company made a total of $20.0 million in debt prepayments during 2024, reducing its outstanding debt under the 2023 Credit Facility.
Entravision's Board of Directors declared dividends totaling $0.20 per share for the year, consistent with the previous year's dividend policy.
The company continues to focus on expanding its local news programming and enhancing its sales teams to drive future revenue growth.
Entravision's management has realigned its operational segments into media and advertising technology & services, reflecting its current business strategy and market focus.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Entravision Communications Corporation annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.