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We are a media company whose business provides radio, digital, e-commerce, on-line news and non-traditional revenue initiatives. We provide services to national, regional and local advertisers to help them meet their growing advertising needs.
The business is unprofitable at the operating level (-10.38% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 4.9% YoY. Margins deteriorated 12.5pp alongside, both lines moving the wrong way.
Free cash flow declined 76% versus the prior year, cash generation momentum has weakened. ROIC dropped from 0.70% to -5.13%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$105M
▼ -4.9% YoY
Net Income (TTM)
-$9M
▼ -328.3% YoY
Op. Margin
-11.42%
▼ -12.5pp YoY
ROIC
-5.68%
▼ -5.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1M
▼ -75.8% YoY
Op. Cash Flow (TTM)
$5M
▼ -60.3% YoY
Net Debt
-$20M
Net Cash Position
Cash & Equiv.
$30M
5Y CAGR: +2.1%
5Y CAGR: -24.3%
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