Beasley Broadcast Group (BBGI) investor relations material

Executive summary

• Q2 2026 net revenue was $44.1 million, down 16.7% year-over-year, with digital revenue comprising 26% of total and same-station digital revenue up 7.1% year-over-year.

• Adjusted EBITDA improved to $5.3 million from $4.7 million in the prior year, reflecting restructuring and cost reductions.

• Net income was $84.3 million, or $45.95 per diluted share, driven by a $91.8 million non-cash gain on debt restructuring.

• Major asset sales and divestitures in Fort Myers, Charlotte, and Las Vegas contributed to debt reduction and liquidity improvement.

• Operational focus is on efficiency, digital expansion, and rebuilding local direct revenue.

Financial highlights

• Q2 2026 audio segment revenue was $32.5 million, digital segment revenue was $11.7 million, and operating income was $1.3 million.

• Net revenue declined 9.6% on a same-station basis; operating expenses fell 13.3% year-over-year to $38.8 million.

• Interest expense dropped 54.8% year-over-year due to debt restructuring.

• Corporate G&A expense for Q2 2026 was $2.4 million, including ~$400,000 in restructuring and transaction costs.

• Cash and cash equivalents at June 30, 2026 were $6.7 million.

Outlook and guidance

• Q3 same station revenue expected to decline mid-single digits year-over-year; Q4 pacing is strong with minimal political risk.

• Expense reductions from May anticipated to provide greater benefit in the second half of 2026.

• Management expects sufficient liquidity for at least the next 12 months and is focused on cost reductions, digital growth, and asset monetization.

• Four priorities: improve local direct sales, increase digital revenue/margins, realize full cost action benefits, and continue debt reduction.

• Strategic focus on operational efficiency and digital expansion leveraging scalable digital business models.