Saga Communications, Inc. Reports 1st Quarter 2025 Results
Saga Communications (SGA) reported declining financial results for Q1 2025. Net revenue decreased 4.3% to $24.2 million compared to $25.3 million in Q1 2024. The company reported an operating loss of $2.3 million and a net loss of $1.6 million ($0.25 per diluted share). Station operating expense decreased 2.2% to $22.0 million.
Q2 2025 revenue pacing shows improvement, with April down high single digits, May down low single digits, and June approximately flat. The company maintains a strong balance sheet with $27.0 million in cash and short-term investments. Saga paid a quarterly dividend of $0.25 per share, totaling $1.6 million, and announced plans for potential stock buybacks using proceeds from non-core asset sales.
Saga Communications (SGA) ha riportato risultati finanziari in calo per il primo trimestre 2025. I ricavi netti sono diminuiti del 4,3%, attestandosi a 24,2 milioni di dollari rispetto ai 25,3 milioni di dollari del primo trimestre 2024. L'azienda ha registrato una perdita operativa di 2,3 milioni di dollari e una perdita netta di 1,6 milioni di dollari (0,25 dollari per azione diluita). Le spese operative delle stazioni sono scese del 2,2% a 22,0 milioni di dollari.
Le previsioni di fatturato per il secondo trimestre 2025 mostrano un miglioramento, con aprile in calo a una cifra alta, maggio in calo a una cifra bassa e giugno sostanzialmente stabile. L'azienda mantiene un bilancio solido con 27,0 milioni di dollari in contanti e investimenti a breve termine. Saga ha pagato un dividendo trimestrale di 0,25 dollari per azione, per un totale di 1,6 milioni di dollari, e ha annunciato piani per potenziali riacquisti di azioni utilizzando i proventi della vendita di asset non core.
Saga Communications (SGA) reportó resultados financieros a la baja para el primer trimestre de 2025. Los ingresos netos disminuyeron un 4,3%, alcanzando 24,2 millones de dólares en comparación con 25,3 millones en el primer trimestre de 2024. La compañía informó una pérdida operativa de 2,3 millones de dólares y una pérdida neta de 1,6 millones de dólares (0,25 dólares por acción diluida). Los gastos operativos de las estaciones disminuyeron un 2,2% hasta 22,0 millones de dólares.
Las previsiones de ingresos para el segundo trimestre de 2025 muestran una mejora, con abril cayendo en dígitos altos, mayo en dígitos bajos y junio aproximadamente estable. La empresa mantiene un balance sólido con 27,0 millones de dólares en efectivo e inversiones a corto plazo. Saga pagó un dividendo trimestral de 0,25 dólares por acción, totalizando 1,6 millones de dólares, y anunció planes para posibles recompras de acciones utilizando los ingresos de la venta de activos no estratégicos.
Saga Communications (SGA)는 2025년 1분기 실적이 하락했다고 보고했습니다. 순수익은 2024년 1분기 2,530만 달러에서 4.3% 감소한 2,420만 달러를 기록했습니다. 회사는 230만 달러의 영업 손실과 160만 달러(희석 주당 0.25달러)의 순손실을 보고했습니다. 방송국 운영비는 2.2% 감소하여 2,200만 달러였습니다.
2025년 2분기 매출 전망은 개선되어 4월은 두 자릿수 상단 하락, 5월은 한 자릿수 하락, 6월은 거의 변동이 없습니다. 회사는 2,700만 달러의 현금 및 단기 투자 자산으로 견고한 재무 상태를 유지하고 있습니다. Saga는 주당 0.25달러의 분기 배당금을 지급해 총 160만 달러를 배당했으며, 비핵심 자산 매각 수익을 활용한 주식 자사주 매입 계획을 발표했습니다.
Saga Communications (SGA) a annoncé des résultats financiers en baisse pour le premier trimestre 2025. Le chiffre d'affaires net a diminué de 4,3 % pour atteindre 24,2 millions de dollars, contre 25,3 millions de dollars au premier trimestre 2024. La société a enregistré une perte d'exploitation de 2,3 millions de dollars et une perte nette de 1,6 million de dollars (0,25 dollar par action diluée). Les charges d'exploitation des stations ont diminué de 2,2 % pour s'établir à 22,0 millions de dollars.
Les perspectives de revenus pour le deuxième trimestre 2025 montrent une amélioration, avec une baisse à un chiffre élevé en avril, une baisse à un chiffre faible en mai, et une stabilité approximative en juin. La société conserve un bilan solide avec 27,0 millions de dollars en liquidités et placements à court terme. Saga a versé un dividende trimestriel de 0,25 dollar par action, totalisant 1,6 million de dollars, et a annoncé des projets de rachats d'actions potentiels financés par les recettes de la vente d'actifs non stratégiques.
Saga Communications (SGA) meldete rückläufige Finanzergebnisse für das erste Quartal 2025. Der Nettoumsatz sank um 4,3 % auf 24,2 Millionen US-Dollar im Vergleich zu 25,3 Millionen US-Dollar im ersten Quartal 2024. Das Unternehmen verzeichnete einen operativen Verlust von 2,3 Millionen US-Dollar und einen Nettoverlust von 1,6 Millionen US-Dollar (0,25 US-Dollar pro verwässerter Aktie). Die Betriebskosten der Stationen sanken um 2,2 % auf 22,0 Millionen US-Dollar.
Die Umsatzentwicklung für das zweite Quartal 2025 zeigt eine Verbesserung: Im April ging der Umsatz um hohe einstellige Prozentzahlen zurück, im Mai um niedrige einstellige Prozentzahlen und im Juni blieb er ungefähr stabil. Das Unternehmen verfügt über eine starke Bilanz mit 27,0 Millionen US-Dollar in bar und kurzfristigen Investitionen. Saga zahlte eine Quartalsdividende von 0,25 US-Dollar pro Aktie, insgesamt 1,6 Millionen US-Dollar, und kündigte Pläne für mögliche Aktienrückkäufe an, die aus Erlösen aus dem Verkauf nicht zum Kerngeschäft gehörender Vermögenswerte finanziert werden sollen.
- Strong cash position with $27.0 million in cash and short-term investments
- Progressive improvement in Q2 2025 revenue pacing from high single-digit decline to flat
- Continued dividend payments, with $137 million paid since 2012
- Planned stock buyback program announced
- Net revenue declined 4.3% to $24.2 million
- Operating loss of $2.3 million in Q1 2025
- Net loss of $1.6 million ($0.25 per share)
- Additional expenses expected in Q2 due to proxy contest
Insights
Saga Communications reported Q1 operating loss amid declining revenues, with slight sequential improvements projected for Q2 2025.
Saga Communications' Q1 2025 results reveal continuing challenges in the radio broadcasting sector. The company reported a 4.3% decrease in net revenue to
The same-station metrics paint an even more concerning picture, with revenue declining
Looking forward, Q2 revenue trends show a pattern of sequential improvement: April was down high single digits, May improved to low single-digit declines, and June is trending approximately flat compared to 2024. This gradual stabilization, while not representing growth, indicates some operational improvements.
Despite ongoing operational challenges, Saga maintains a solid balance sheet with
The
GROSSE POINTE FARMS, Mich., May 08, 2025 (GLOBE NEWSWIRE) -- Saga Communications, Inc. (Nasdaq - SGA) (the “Company”, “Saga”, “we” or “our”) today reported that net revenue decreased
On a same-station basis for the quarter ended March 31, 2025, we had an operating loss of
Revenue pacing for the second quarter remains uncertain but is improving as the quarter progresses. For the second quarter we are currently pacing down mid single digits. April was down high single digits. May improved to being down low single digits and June is approximately flat with the same period last year.
Included in the corporate general and administrative expense line item, for the quarter ended March 31, 2025, is
The Company paid a quarterly dividend of
The Company’s balance sheet reflects
Saga’s 2025 First Quarter conference call will be held on Thursday, May 8, 2025 at 11:00 a.m. The dial-in number for the call is (973) 528-0008. Enter conference code 530273. A recording and transcript of the call will be posted to the Company’s website as soon as it is available after the call.
The Company requests that all parties that have a question that they would like to submit to the Company please email the inquiry by 10:00 a.m. on May 8, 2025 to SagaIR@sagacom.com. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing directions will be discussed during the call.
Saga utilizes certain financial measures that are not calculated in accordance with generally accepted accounting principles (GAAP) to assess its financial performance. The attached Selected Supplemental Financial Data tables disclose “actual”, “same station”, and “proforma” financial information as well as the Company’s reconciliation of non-GAAP measures: GAAP operating income to station operating income, GAAP net income to trailing twelve-month consolidated EBITDA and actual operating results to same station operating results as well as other financial data. The actual financial information reflects our historical financial results and include the results of operations for stations that we did not own for the entire comparable period. The same station financial information reflects only the results of operations for stations that we owned for the entire comparable period. The proforma financial information assume all acquisitions in 2024 occurred as of January 1, 2024. Such non-GAAP measures include same station financial information, pro forma financial information, station operating income, trailing 12-month consolidated EBITDA, and leverage ratio. These non-GAAP measures are generally recognized by the broadcasting industry as measures of performance and are used by Saga to assess its financial performance including, but not limited to, evaluating individual station and market-level performance, evaluating overall operations, as a primary measure for incentive-based compensation of executives and other members of management and as a measure of financial position. Saga’s management believes these non-GAAP measures are used by analysts who report on the industry and by investors to provide meaningful comparisons between broadcasting groups, as well as an indicator of their market value. These measures are not measures of liquidity or of performance in accordance with GAAP and should be viewed as a supplement to and not as a substitute for the results of operations presented on a GAAP basis including net operating revenue, operating income, and net income. Reconciliations for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the Selected Supplemental Financial Data tables.
This press release contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that are based upon current expectations and involve certain risks and uncertainties. Words such as “will,” “may,” “believes,” “intends,” “expects,” “anticipates,” “guidance,” and similar expressions are intended to identify forward-looking statements. The material risks facing our business are described in the reports Saga periodically files with the U.S. Securities and Exchange Commission, including, in particular, Item 1A of our Annual Report on Form 10-K. Readers should note that forward-looking statements may be impacted by several factors, including global, national, and local economic changes and changes in the radio broadcast industry in general as well as Saga’s actual performance. Actual results may vary materially from those described herein and Saga undertakes no obligation to update any information contained herein that constitutes a forward-looking statement.
Saga is a media company whose business is devoted to acquiring, developing and operating broadcast properties with a growing focus on opportunities complimentary to our core radio business including digital, e-commerce, local on-line news services and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM, 31 AM radio stations and 79 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.
Contact:
Samuel D. Bush
(313) 886-7070
| Saga Communications, Inc. Selected Consolidated Financial Data For the Three Months Ended March 31, 2025 and 2024 (amounts in 000’s except per share data) (Unaudited) | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating Results | ||||||||
| Net operating revenue | $ | 24,212 | $ | 25,294 | ||||
| Station operating expense | 21,963 | 22,459 | ||||||
| Corporate general and administrative | 3,167 | 3,083 | ||||||
| Depreciation and amortization | 1,326 | 1,198 | ||||||
| Other operating expense (income), net | 54 | 971 | ||||||
| Operating loss | (2,298 | ) | (2,417 | ) | ||||
| Interest expense | 107 | 43 | ||||||
| Interest income | (222 | ) | (303 | ) | ||||
| Other income, net | (23 | ) | — | |||||
| Loss before income tax expense | (2,160 | ) | (2,157 | ) | ||||
| Income tax (benefit) expense | ||||||||
| Current | (670 | ) | (515 | ) | ||||
| Deferred | 85 | (65 | ) | |||||
| (585 | ) | (580 | ) | |||||
| Net loss | $ | (1,575 | ) | $ | (1,577 | ) | ||
| Loss per share: | ||||||||
| Basic | $ | (0.25 | ) | $ | (0.25 | ) | ||
| Diluted | $ | (0.25 | ) | $ | (0.25 | ) | ||
| Weighted average common shares | 6,123 | 6,063 | ||||||
| Weighted average common and common equivalent shares | 6,123 | 6,063 | ||||||
| March 31, | ||||||
| 2025 | 2024 | |||||
| Balance Sheet Data | ||||||
| Working capital | $ | 28,838 | $ | 27,216 | ||
| Net fixed assets | $ | 51,337 | $ | 51,230 | ||
| Net intangible assets and other assets | $ | 122,362 | $ | 119,243 | ||
| Total assets | $ | 219,305 | $ | 218,046 | ||
| Long-term debt | $ | 5,000 | $ | — | ||
| Stockholders' equity | $ | 163,560 | $ | 164,372 | ||
| Saga Communications, Inc. Selected Consolidated Financial Data For the Three Months Ended March 31, 2025 and 2024 (amounts in 000’s except per share data) (Unaudited) | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2025 | 2024 | |||||||
| (Unaudited) | ||||||||
| (In thousands) | ||||||||
| Statement of Cash Flows | ||||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (1,575 | ) | $ | (1,577 | ) | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 1,326 | 1,198 | ||||||
| Deferred income tax (benefit) expense | 85 | (65 | ) | |||||
| Amortization of deferred costs | 8 | 9 | ||||||
| Compensation expense related to restricted stock awards | 527 | 453 | ||||||
| Provision for credit losses | 174 | 359 | ||||||
| Loss on sale of assets, net | 54 | 971 | ||||||
| (Gain) on insurance claims | (23 | ) | — | |||||
| Barter (revenue) expense, net | (64 | ) | 13 | |||||
| Deferred and other compensation | (17 | ) | (24 | ) | ||||
| Changes in assets and liabilities: | ||||||||
| Decrease (increase) in receivables and prepaid expenses | 913 | 1,776 | ||||||
| Increase (decrease) in accounts payable, accrued expenses, and other liabilities | (44 | ) | 690 | |||||
| Total adjustments | 2,939 | 5,380 | ||||||
| Net cash provided by operating activities | 1,364 | 3,803 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchase of short-term investments | (4,498 | ) | (4,297 | ) | ||||
| Redemption of short-term investments | 4,498 | 6,432 | ||||||
| Acquisition of property and equipment (Capital Expenditures) | (696 | ) | (1,050 | ) | ||||
| Proceeds from sale and disposal of assets | — | 21 | ||||||
| Proceeds from insurance claims and other | 23 | — | ||||||
| Other investing activities | — | (246 | ) | |||||
| Net cash (used in) provided by investing activities | (673 | ) | 860 | |||||
| Cash flows from financing activities: | ||||||||
| Cash dividends paid | (1,604 | ) | (14,068 | ) | ||||
| Net cash used in financing activities | (1,604 | ) | (14,068 | ) | ||||
| Net decrease in cash and cash equivalents | (913 | ) | (9,405 | ) | ||||
| Cash and cash equivalents, beginning of period | 18,860 | 29,582 | ||||||
| Cash and cash equivalents, end of period | $ | 17,947 | $ | 20,177 | ||||
| Saga Communications, Inc. Selected Supplemental Financial Data For the Three Months Ended March 31, 2025 and 2024 (amounts in 000’s, except per share data) (Unaudited) | ||||||||||||||||||||||||
| Actual | Same Station (1) | Pro Forma (2) | ||||||||||||||||||||||
| Three Months Ended | Three Months Ended | Three Months Ended | ||||||||||||||||||||||
| March 31, | March 31, | March 31, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||
| Operating Results | ||||||||||||||||||||||||
| Net operating revenue | $ | 24,212 | $ | 25,294 | $ | 23,617 | $ | 25,294 | $ | 24,212 | $ | 25,922 | ||||||||||||
| Station operating expense | 21,963 | 22,459 | 21,344 | 22,459 | 21,963 | 22,987 | ||||||||||||||||||
| Corporate general and administrative | 3,167 | 3,083 | 3,167 | 3,083 | 3,167 | 3,083 | ||||||||||||||||||
| Depreciation and amortization | 1,326 | 1,198 | 1,188 | 1,198 | 1,326 | 1,335 | ||||||||||||||||||
| Other operating expense (income), net | 54 | 971 | 54 | 971 | 54 | 971 | ||||||||||||||||||
| Operating loss | (2,298 | ) | (2,417 | ) | $ | (2,136 | ) | $ | (2,417 | ) | (2,298 | ) | (2,454 | ) | ||||||||||
| Interest expense | 107 | 43 | 107 | 122 | ||||||||||||||||||||
| Interest income | (222 | ) | (303 | ) | (222 | ) | (303 | ) | ||||||||||||||||
| Other income, net | (23 | ) | — | (23 | ) | — | ||||||||||||||||||
| Loss before income tax expense | (2,160 | ) | (2,157 | ) | (2,160 | ) | (2,273 | ) | ||||||||||||||||
| Income tax (benefit) expense | ||||||||||||||||||||||||
| Current | (670 | ) | (515 | ) | (670 | ) | (541 | ) | ||||||||||||||||
| Deferred | 85 | (65 | ) | 85 | (78 | ) | ||||||||||||||||||
| (585 | ) | (580 | ) | (585 | ) | (619 | ) | |||||||||||||||||
| Net loss | $ | (1,575 | ) | $ | (1,577 | ) | $ | (1,575 | ) | $ | (1,654 | ) | ||||||||||||
| Loss per share: | ||||||||||||||||||||||||
| Basic | $ | (0.25 | ) | $ | (0.25 | ) | $ | (0.25 | ) | $ | (0.26 | ) | ||||||||||||
| Diluted | $ | (0.25 | ) | $ | (0.25 | ) | $ | (0.25 | ) | $ | (0.26 | ) | ||||||||||||
| Weighted average common shares | 6,123 | 6,063 | 6,123 | 6,063 | ||||||||||||||||||||
| Weighted average common and common equivalent shares | 6,123 | 6,063 | 6,123 | 6,063 | ||||||||||||||||||||
| Actual | Same Station (1) | Pro Forma (2) | ||||||||||||||||||||||
| Three Months Ended | Three Months Ended | Three Months Ended | ||||||||||||||||||||||
| March 31, | March 31, | March 31, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||
| Depreciation and amortization by segment | ||||||||||||||||||||||||
| Radio Stations | $ | 1,283 | $ | 1,152 | $ | 1,145 | $ | 1,152 | $ | 1,283 | $ | 1,289 | ||||||||||||
| Corporate | 43 | 46 | 43 | 46 | 43 | 46 | ||||||||||||||||||
| $ | 1,326 | $ | 1,198 | $ | 1,188 | $ | 1,198 | $ | 1,326 | $ | 1,335 | |||||||||||||
(1) Same station includes only the results of stations we owned and operated for the entire comparable period.
(2) Pro Forma results assume all acquisitions in 2024 occurred as of January 1, 2024.
| Saga Communications, Inc. Selected Supplemental Financial Data For the Three Months Ended March 31, 2025 and 2024 (amounts in 000’s) (Unaudited) | |||||||||
| Three Months Ended | |||||||||
| March 31, | |||||||||
| 2025 | 2024 | ||||||||
| Reconciliation of GAAP operating income to station operating income (a non-GAAP financial measure) | |||||||||
| Operating loss | $ | (2,298 | ) | $ | (2,417 | ) | |||
| Plus: | |||||||||
| Corporate general and administrative | 3,167 | 3,083 | |||||||
| Other operating expense (income), net | 54 | 971 | |||||||
| Depreciation and amortization | 1,326 | 1,198 | |||||||
| Station operating income | $ | 2,249 | $ | 2,835 | |||||
| Other financial data | |||||||||
| Depreciation and amortization: | |||||||||
| Radio Stations | $ | 1,283 | $ | 1,152 | |||||
| Corporate | $ | 43 | $ | 46 | |||||
| Compensation expense related to restricted stock awards | $ | 527 | (1) | $ | 453 | (1) | |||
| Other operating expense, net (2) | $ | 54 | $ | 971 | |||||
| Other income, net (2) | $ | (23 | ) | $ | - | ||||
| Deferred income tax expense (2) | $ | 85 | $ | (65 | ) | ||||
| Acquisition of property and equipment (Capital Expenditures) | $ | 696 | (1) | $ | 1,050 | (1) | |||
(1) As presented in the Statement of Cash Flows in the Selected Consolidated Financial Data tables
(2) As presented in the Operating Results in the Selected Consolidated Financial Data tables
| Saga Communications, Inc. Selected Supplemental Financial Data March 31, 2025 (amounts in 000's) (Unaudited) | |||||||||||||||||||
| Less: | Plus: | Trailing | |||||||||||||||||
| 12 Months Ended | 3 Months Ended | 3 Months Ended | Add: | 12 Months Ended | |||||||||||||||
| December 31, | March 31, | March 31, | Pro Forma | March 31, | |||||||||||||||
| 2024 | 2024 | 2025 | Acquisitions(2) | 2025 | |||||||||||||||
| Reconciliation of GAAP Net Income to trailing 12 Month Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") (a non-GAAP financial measure) (1) | |||||||||||||||||||
| Net income (loss) | $ | 3,460 | $ | (1,577 | ) | $ | (1,575 | ) | $ | 12 | $ | 3,474 | |||||||
| Exclusions: | |||||||||||||||||||
| Gain (loss) on sale of assets, net | (1,048 | ) | (971 | ) | (54 | ) | — | (131 | ) | ||||||||||
| Other income, net | 2,474 | 290 | 309 | — | 2,493 | ||||||||||||||
| Total exclusions | 1,426 | (681 | ) | 255 | — | 2,362 | |||||||||||||
| Consolidated adjusted net income (loss) (1) | 2,034 | (896 | ) | (1,830 | ) | 12 | 1,112 | ||||||||||||
| Plus: | |||||||||||||||||||
| Interest expense | 348 | 43 | 107 | 52 | 464 | ||||||||||||||
| Income tax (benefit) expense | 1,110 | (580 | ) | (585 | ) | 10 | 1,115 | ||||||||||||
| Depreciation & amortization expense | 5,283 | 1,198 | 1,326 | 92 | 5,503 | ||||||||||||||
| Non-cash compensation | 1,950 | 453 | 527 | — | 2,024 | ||||||||||||||
| Trailing twelve month consolidated EBITDA (1) | $ | 10,725 | $ | 218 | $ | (455 | ) | $ | 166 | $ | 10,218 | ||||||||
| Total long-term debt, including current maturities | $ | 5,000 | |||||||||||||||||
| Divided by trailing twelve month consolidated EBITDA (1) | 10,218 | ||||||||||||||||||
| Leverage ratio | 0.49 | ||||||||||||||||||
(1) As defined in the Company's credit facility.
(2) Trailing Twelve Month Adjustment.
| Saga Communications, Inc. Selected Supplemental Financial Data For the Three Months Ended March 31, 2025 and 2024 (amounts in 000’s) (Unaudited) | |||||||||||||||||||||||
| Reconciliation of Actual Information to Same Station Operating Income | |||||||||||||||||||||||
| Adjustments | Adjustments | ||||||||||||||||||||||
| Actual | For Acquisitions | Same Station | Actual | For Acquisitions | Same Station | ||||||||||||||||||
| Three Months | and Dispositions | Three Months | Three Months | and Dispositions | Three Months | ||||||||||||||||||
| Ended | Not Included in | Ended | Ended | Not Included in | Ended | ||||||||||||||||||
| March 31, | Entire Comparable | March 31, | March 31, | Entire Comparable | March 31, | ||||||||||||||||||
| 2025 | Period | 2025 | 2024 | Period | 2024 | ||||||||||||||||||
| Net operating revenue | $ | 24,212 | $ | (595 | ) | $ | 23,617 | $ | 25,294 | $ | - | $ | 25,294 | ||||||||||
| Station operating expense | 21,963 | (619 | ) | 21,344 | 22,459 | - | 22,459 | ||||||||||||||||
| Corporate general and administrative | 3,167 | - | 3,167 | 3,083 | - | 3,083 | |||||||||||||||||
| Depreciation and amortization | 1,326 | (138 | ) | 1,188 | 1,198 | - | 1,198 | ||||||||||||||||
| Other operating expense (income), net | 54 | - | 54 | 971 | - | 971 | |||||||||||||||||
| Operating loss | $ | (2,298 | ) | $ | 162 | $ | (2,136 | ) | $ | (2,417 | ) | $ | - | $ | (2,417 | ) | |||||||
FAQ
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