Beasley Broadcast Group Reports Decline in Revenue and Increased Net Loss for Q3 2025

Beasley Broadcast Group, Inc. reported a decline in financial performance for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. For the three months ended September 30, 2025, the company generated net revenue of $50.98 million, a decrease of 12.4% from $58.19 million in the same period of 2024. The decline was primarily attributed to a significant drop in audio revenue, which fell by 18.9% to $38.03 million, largely due to reduced local and national advertising, including a decrease in political advertising. In contrast, digital revenue increased by 14.6% to $12.95 million, reflecting continued growth in that segment.

For the nine months ending September 30, 2025, Beasley reported total net revenue of $152.89 million, down 11.6% from $173.01 million in the prior year. The audio segment experienced a more pronounced decline, with revenue decreasing by 15.8% to $116.00 million, while digital revenue saw a modest increase of 4.6% to $36.89 million. Operating expenses also decreased, totaling $136.08 million for the nine-month period, down from $148.53 million, indicating the company's efforts to manage costs amid declining revenues.

In terms of strategic developments, Beasley Broadcast Group has been active in asset sales, completing the sale of WPBB-FM in Tampa for $8 million and entering agreements to sell multiple stations in Fort Myers for a total of $18 million, pending regulatory approval. These transactions are expected to close in early 2026 and will result in the company exiting the Fort Myers-Naples market. Additionally, the company adopted a new equity incentive plan in June 2025, allowing for the issuance of up to 300,000 shares of Class A common stock to employees and directors.

Operationally, Beasley reported a net loss of $3.56 million for the third quarter of 2025, nearly unchanged from a loss of $3.56 million in the same quarter of 2024. For the nine-month period, the net loss increased to $6.40 million from $3.83 million, reflecting the impact of declining revenues and increased operating costs. The company’s effective tax rate for the nine months was 20%, down from 32% in the previous year, influenced by state taxes and non-deductible expenses.

Looking ahead, Beasley Broadcast Group anticipates that the proceeds from the asset sales will bolster its liquidity, which is primarily derived from cash flow and cash reserves. The company has suspended dividend payments and is focused on managing its debt obligations while navigating the challenges posed by market conditions and competition in the advertising sector. The management remains cautious about future performance, emphasizing the need for continued expense management and strategic positioning in the evolving media landscape.