v3.25.3

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Income Statement [Abstract]
Net revenue	$ 180,255	$ 203,598	$ 553,621	$ 608,500
Operating expenses:
Content costs	60,251	76,368	199,008	235,056
Selling, general and administrative expenses	93,797	93,890	280,403	283,009
Depreciation and amortization	12,726	14,721	41,516	44,270
Corporate expenses	20,656	11,934	49,423	59,483
(Gain) loss on sale or disposal of assets or stations	(2,866)	6	(2,744)	60
Impairment of assets held for sale	0	0	1,420	0
Total operating expenses	184,564	196,919	569,026	621,878
Operating (loss) income	(4,309)	6,679	(15,405)	(13,378)
Non-operating expense:
Interest expense	(16,612)	(17,043)	(48,941)	(52,029)
Interest income	377	34	665	526
Gain on early extinguishment of debt	0	0	0	170
Other (expense) income, net	(30)	(32)	(62)	14,774
Total non-operating expense, net	(16,265)	(17,041)	(48,338)	(36,559)
Loss before income taxes	(20,574)	(10,362)	(63,743)	(49,937)
Income tax benefit (expense)	167	41	(1,852)	(2,237)
Net loss	$ (20,407)	$ (10,321)	$ (65,595)	$ (52,174)
Basic and diluted loss per common share (see "Note 9, Loss Per Share"):
Basic: Loss per share (in dollars per share)	$ (1.17)	$ (0.61)	$ (3.78)	$ (3.10)
Diluted: Loss per share (in dollars per share)	$ (1.17)	$ (0.61)	$ (3.78)	$ (3.10)
Weighted average basic common shares outstanding (in shares)	17,440,084	16,936,749	17,362,543	16,836,679
Weighted average diluted common shares outstanding (in shares)	17,440,084	16,936,749	17,362,543	16,836,679

The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.

CUMULUS MEDIA INC 10-Q