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Townsquare Media Inc. Class A (TSQ-4.87%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The filing reports a decrease in net revenue to $450.98 million from $454.23 million in the previous year. The decrease is attributed to a decline in Subscription Digital Marketing Solutions and Broadcast Advertising revenue.
Operating income increased to $21.69 million, compared to an operating loss of $19.14 million in the previous year. This improvement was primarily due to a decrease in non-cash impairment charges.
The company's Digital Advertising segment reported an increase in revenue to $158.62 million, up from $150.28 million in 2023. However, the segment's profit decreased due to higher operating expenses.
Subscription Digital Marketing Solutions revenue declined to $75.34 million from $82.22 million, while the segment's profit also fell due to a reduction in net subscribers.
Broadcast Advertising revenue decreased slightly to $208.96 million from $211.73 million, but the segment's profit increased due to lower compensation costs.
The company reported a net loss of $10.93 million, an improvement from a net loss of $43.02 million in the previous year.
Cash provided by operating activities was $48.75 million, down from $67.83 million in 2023. Cash used in investing activities increased to $9.93 million, while cash used in financing activities rose to $67.38 million.
Townsquare Media announced a quarterly dividend of $0.20 per share, payable on May 1, 2025, to shareholders of record as of April 17, 2025.
The company entered into a new $490 million credit agreement on February 19, 2025, which was used to repay its outstanding 2026 Notes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Townsquare Media Inc. Class A annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.