Bright Mountain Media, Inc. Announces First Quarter 2026 Financial Results
Rhea-AI Summary
Bright Mountain Media (OTCID:BMTM) reported Q1 2026 revenue of approximately $14.0 million, down 2% from $14.2 million in Q1 2025. Cost of revenue declined 3% to $9.7 million, keeping gross margin steady at $4.3 million.
General and administrative expense fell 43% to $2.6 million. Net loss improved 60% to $1.3 million, while adjusted EBITDA rose 189% to $2.4 million. The company is also investing in proprietary AI capabilities across its AdTech and MarTech platform.
Positive
- Net loss improved 60% to approximately $1.3 million
- Adjusted EBITDA increased 189% to approximately $2.4 million
- General and administrative expense decreased 43% to $2.6 million
- Cost of revenue declined 3% to approximately $9.7 million
- Gross margin remained stable at approximately $4.3 million year-over-year
Negative
- Revenue declined 2% year-over-year to approximately $14.0 million
- Company still reported a net loss of approximately $1.3 million
AI-generated analysis. How Rhea-AI works. Not financial advice.
Boca Raton, FL, May 12, 2026 (GLOBE NEWSWIRE) -- Bright Mountain Media, Inc. (OTCID: BMTM) ("Bright Mountain", or the "Company"), a global holding company with current investments in digital publishing, advertising technology, consumer insights, creative services, and media services, today announced its financial results for the first quarter ended March 31, 2026.
"Q1 2026 underscores the strength and resilience of Bright Mountain’s operating model," said Matthew Drinkwater, CEO of Bright Mountain Media. "Our diversified portfolio enables us to efficiently allocate capital toward our highest-momentum advertising technology assets while continuing to invest in product innovation across our marketing technology platform. This intentional balance supports consistent performance, improves operating leverage, and positions the company to generate sustainable value as individual businesses scale and mature."
"The
"At the same time, we see a meaningful opportunity to differentiate ourselves through proprietary AI. After extensive evaluation of third-party solutions in the market, we believe there is a clear gap in what today’s AdTech and MarTech companies need. As a result, we have chosen to invest internally to develop our own AI-driven capabilities. We’re encouraged by early progress and look forward to updating investors as these initiatives begin to contribute to growth and competitive positioning in the coming quarters."
Financial Results for the Three Months Ended March 31, 2026
Revenue was approximately
Cost of revenue was approximately
General and administrative expense was
Gross margin remained consistent at
Net loss was
Adjusted EBITDA was
About Bright Mountain Media, Inc.
Bright Mountain Media, Inc. (OTCID: BMTM) unites a diverse portfolio of companies to deliver a full spectrum of advertising, marketing, technology, and media services under one roof - fused together by data-driven insights. Bright Mountain Media's subsidiaries include Deep Focus Agency, LLC, MediaHouse, Inc., BV Insights, LLC, CL Media Holdings, LLC, Bright Mountain, LLC d/b/a BrightStream, Oceanside Media, LLC, Slutzky & Winshman, Ltd., and Wild Sky Media Co. Ltd. For more information, please visit www.brightmountainmedia.com.
Forward-Looking Statements for Bright Mountain Media, Inc.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties. Such forward-looking statements can be identified by the use of words such as "should", "may", "intends", "anticipates", "believes", "estimates", "projects", "forecasts", "expects", "plans", and "proposes", and similar words. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations of our ability to successfully integrate acquisitions, and the realization of any expected benefits from such acquisitions. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in Bright Mountain's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the SEC. Bright Mountain does not undertake any duty to update any forward-looking statements except as may be required by law.
Contact / Investor Relations:
Email: ir@brightmountainmedia.com
https://brightmountainmedia.com/investor-relations
BRIGHT MOUNTAIN MEDIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share data)
| Three Months Ended | ||||||||
| March 31, 2026 | March 31, 2025 | |||||||
| Revenue | $ | 13,963 | $ | 14,190 | ||||
| Cost of revenue | 9,654 | 9,918 | ||||||
| Gross margin | 4,309 | 4,272 | ||||||
| General and administrative expenses | 2,566 | 4,524 | ||||||
| Income (loss) from operations | 1,743 | (252 | ) | |||||
| Financing and other expense: | ||||||||
| Other income | 62 | 47 | ||||||
| Interest expense - Centre Lane Senior Secured Credit Facility - related party | (3,101 | ) | (3,020 | ) | ||||
| Other interest expense | (4 | ) | (6 | ) | ||||
| Total financing and other expense, net | (3,043 | ) | (2,979 | ) | ||||
| Net loss before income tax | (1,300 | ) | (3,231 | ) | ||||
| Income tax provision | - | - | ||||||
| Net loss | $ | (1,300 | ) | $ | (3,231 | ) | ||
| Foreign currency translation | - | 42 | ||||||
| Comprehensive loss | $ | (1,300 | ) | $ | (3,189 | ) | ||
| Net loss per common share: | ||||||||
| Basic | $ | (0.01 | ) | $ | (0.02 | ) | ||
| Diluted | $ | (0.01 | ) | $ | (0.02 | ) | ||
| Weighted-average shares outstanding: | ||||||||
| Basic | 181,032,929 | 175,974,990 | ||||||
| Diluted | 181,032,929 | 175,974,990 | ||||||
BRIGHT MOUNTAIN MEDIA, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
| March 31, 2026 | December 31, 2025* | |||||||
| (unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 594 | $ | 1,371 | ||||
| Restricted cash | 1,861 | 1,861 | ||||||
| Accounts receivable, net | 15,409 | 16,287 | ||||||
| Prepaid expenses and other current assets | 1,035 | 1,170 | ||||||
| Total current assets | 18,899 | 20,689 | ||||||
| Property and equipment, net | 107 | 124 | ||||||
| Intangible assets, net | 11,097 | 11,542 | ||||||
| Goodwill | 6,999 | 6,999 | ||||||
| Operating lease right-of-use assets, net | 150 | 173 | ||||||
| Other long-term assets | 9 | 158 | ||||||
| Total assets | $ | 37,261 | $ | 39,685 | ||||
| Liabilities and Stockholders' Deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued expenses | $ | 20,342 | $ | 24,852 | ||||
| Other current liabilities | 3,555 | 4,210 | ||||||
| Interest payable - Centre Lane Senior Secured Credit Facility | 47 | 59 | ||||||
| Deferred revenue | 4,399 | 2,834 | ||||||
| Note payable - Centre Lane Senior Secured Credit Facility - related party (current) | 86,755 | 84,276 | ||||||
| Total current liabilities | 115,098 | 116,231 | ||||||
| Other long-term liabilities | - | 12 | ||||||
| Operating lease liabilities | 63 | 77 | ||||||
| Total liabilities | 115,161 | 116,320 | ||||||
| Stockholders' deficit: | ||||||||
| Convertible preferred stock, par value | - | - | ||||||
| Common stock, par value | 1,861 | 1,832 | ||||||
| Treasury stock at cost, 2,185,575 and 2,185,575 shares at March 31, 2026 and December 31, 2025, respectively | (220 | ) | (220 | ) | ||||
| Additional paid-in capital | 101,994 | 101,988 | ||||||
| Accumulated deficit | (181,612 | ) | (180,312 | ) | ||||
| Accumulated other comprehensive income | 77 | 77 | ||||||
| Total stockholders' deficit | (77,900 | ) | (76,635 | ) | ||||
| Total liabilities and stockholders' deficit | $ | 37,261 | $ | 39,685 | ||||
* Derived from audited consolidated financial statements.
BRIGHT MOUNTAIN MEDIA, INC.
RECONCILIATION OF NET LOSS TO NON-GAAP EBITDA AND ADJUSTED EBITDA
(in thousands)
Non-GAAP Financial Measures
Non-GAAP results are presented only as a supplement to the financial statements and for use within management's discussion and analysis based on U.S. generally accepted accounting principles ("GAAP"). The non-GAAP financial information is provided to enhance the reader's understanding of the Company's financial performance, but non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP.
All other items included in the reconciliation from net loss before taxes to EBITDA and from EBITDA to adjusted EBITDA are either (i) non-cash items (e.g., depreciation, amortization of purchased intangibles, stock-based compensation, etc.) or (ii) items that management does not consider to be useful in assessing the Company's ongoing performance (e.g., M&A costs, income taxes, gain on sale of investments, loss on disposal of assets, etc.). In the case of the non-cash items, management believes that investors can better assess the Company's operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect the Company's ability to generate free cash flow or invest in its business.
We use, and we believe investors benefit from the presentation of, EBITDA and Adjusted EBITDA in evaluating our operating performance because it provides us and our investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect our core operations. We believe that EBITDA is useful to investors and other external users of our financial statements in evaluating our operating performance because EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, and depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired.
Because not all companies use identical calculations, the Company's presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the Company's performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures.
A reconciliation of net loss to EBITDA and Adjusted EBITDA is as follows:
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| (in thousands) | ||||||||
| Net loss before income tax | $ | (1,300 | ) | $ | (3,231 | ) | ||
| Depreciation expense | 17 | 13 | ||||||
| Amortization of intangibles | 445 | 485 | ||||||
| Amortization of debt discount | 460 | 633 | ||||||
| Other interest expense | 4 | 6 | ||||||
| Interest expense - Centre Lane Senior Secured Credit Facility | 2,641 | 2,387 | ||||||
| EBITDA | 2,267 | 293 | ||||||
| Stock compensation expense | 21 | 37 | ||||||
| Non-recurring professional fees | - | 241 | ||||||
| Non-recurring legal fees | - | 245 | ||||||
| Non-recurring severance expense | 68 | - | ||||||
| Adjusted EBITDA | $ | 2,356 | $ | 816 | ||||
