Bright Mountain Media, Inc. reported its financial results for the first quarter of 2025, revealing a revenue increase of 14% to $14.2 million, compared to $12.4 million in the same period of 2024. The company's gross margin also improved, rising to $4.3 million from $3.1 million year-over-year. Despite the revenue growth, Bright Mountain recorded a net loss of $3.2 million, a reduction from the $4.8 million loss reported in the prior year. The loss per share for the quarter was $(0.02), compared to $(0.03) in the first quarter of 2024.
The increase in revenue was primarily driven by the advertising technology division, which saw a significant rise of 61% to $4.2 million. The consumer insights segment also contributed positively, generating $7.0 million, up 5% from the previous year. However, the creative services division experienced a decline, with revenue falling by 27% to $1.5 million, attributed to a decrease in projects from smaller-tier clients. Overall, the company’s gross margin percentage improved to 30%, up from 25% in the prior year.
In terms of operational metrics, Bright Mountain's total current assets decreased slightly to $19.6 million from $20.3 million at the end of 2024, while total current liabilities increased to $34.4 million from $33.8 million. This resulted in a working capital deficit of approximately $14.8 million. The company’s employee headcount decreased to 116 from 167, reflecting ongoing efforts to streamline operations and reduce costs. General and administrative expenses also fell by 14% to $4.5 million, indicating a focus on cost management.
Looking ahead, Bright Mountain Media faces challenges related to its liquidity, as its current cash and working capital are not expected to be sufficient to fund operations over the next twelve months. The company is exploring various strategic alternatives, including restructuring or refinancing its debt and seeking additional equity capital. The Centre Lane Senior Secured Credit Facility remains a critical component of its financing strategy, with outstanding principal owed amounting to $81.1 million as of March 31, 2025. The company’s ability to navigate these financial challenges will be crucial for its future operations and growth.
About Bright Mountain Media, Inc.
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