Beasley Broadcast Group (NASDAQ: BBGI) slashes $95M debt and reports Q2 2026 profit

Rhea-AI Filing Summary

Beasley Broadcast Group reported second quarter 2026 net revenue of $44.1 million, with same-station net revenue down 9.6% amid weakness in traditional national and local agency advertising. GAAP net income was $84.3 million, largely driven by a $91.8 million gain on debt restructuring.

Adjusted EBITDA (non-GAAP) rose to $5.3 million from $4.7 million a year earlier as operating expenses declined 13.2% and corporate expenses fell 37.3%, reflecting roughly $30 million in annualized cost savings over the prior twelve months. Digital revenue was $11.7 million, down 11.6% year-over-year but up 7.1% on a same-station basis, and represented 26% of net revenue with a 15.4% digital segment operating margin.

Through exchanges and repurchases completed on May 1, 2026, the company reduced total outstanding debt by $95 million, including a 46% reduction in second lien debt, contributing to long‑term debt of $144.8 million and stockholders’ equity of $38.8 million as of June 30, 2026.

Positive

• $95 million total debt reduction, including a 46% cut in second lien debt, materially improves the capital structure and lowers future cash interest expense.
• Adjusted EBITDA increased to $5.3 million from $4.7 million in the prior‑year quarter, reflecting margin improvement despite lower revenue.
• Operating expenses declined 13.2% year‑over‑year and corporate expenses fell 37.3%, supported by roughly $30 million in annualized cost reductions over the last twelve months.
• Stockholders’ position improved from a deficit of $(48.4) million at December 31, 2025 to positive equity of $38.8 million at June 30, 2026.
• Local revenue, including locally sold digital packages, grew 9% year‑over‑year and accounted for 74% of net revenue, indicating strength in core local relationships.
• Digital revenue of $11.7 million represented 26% of net revenue and achieved a 15.4% segment operating margin, with 7.1% same‑station digital growth.

Negative

• Same‑station net revenue decreased 9.6% to $44.1 million, reflecting continued weakness in traditional national and local agency advertising.
• Total digital revenue declined 11.6% year‑over‑year to $11.7 million, despite growth on a same‑station basis.
• Net cash used in operating activities worsened to $(15.2) million for the first six months of 2026 versus $(0.4) million in the prior‑year period.
• The company highlights risks related to its ability to comply with Nasdaq continued listing standards and to continue as a going concern for at least one year from the financial statement issuance date.

Filing Explained

The August 12 earnings release describes the completed May 1 debt actions as improving liquidity, but its June 30 figures show cash and cash equivalents of $6,698 thousand and net cash used in operating activities of $15,246,712 for the six months.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Net Revenue: $44,125,702 Q2 2026 Net Income: $84,293,430 Q2 2026 Adjusted EBITDA: $5,282,045 +5 more

8 metrics

Q2 2026 Net Revenue $44,125,702 Net revenue for the three months ended June 30, 2026

Q2 2026 Net Income $84,293,430 Net income for the three months ended June 30, 2026

Q2 2026 Adjusted EBITDA $5,282,045 Adjusted EBITDA for the three months ended June 30, 2026

Debt Reduction $95,000,000 Total outstanding debt reduced through exchange and repurchase of indebtedness

Long-term Debt $144,818 Long-term debt, net of unamortized issuance costs, at June 30, 2026 (in thousands)

Stockholders' Equity $38,827 Stockholders' equity at June 30, 2026 (in thousands)

Net Cash Used in Operating Activities $(15,246,712) Net cash used in operating activities for six months ended June 30, 2026

Digital Revenue Q2 2026 $11,655,659 Digital net revenue for the three months ended June 30, 2026

Key Terms

Adjusted EBITDA, same station net revenue, second lien debt, asset-based lending facility, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA was $5.3 million for the second quarter of 2026"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

same station net revenue financial

"Same station net revenue decreased 9.6% to $44.1 million"

second lien debt financial

"including a 46% reduction in its second lien debt"

A second lien debt is a loan that is secured by a company's assets but is repaid only after the first lien (senior) lenders are paid in full; think of it as standing second in line for the same collateral. For investors this matters because second lien loans carry higher risk of loss in a default than first-lien loans, so they typically offer higher interest or returns to compensate for that greater risk.

asset-based lending facility financial

"establishment of a new asset-based lending facility"

A lending arrangement where a company borrows money using specific assets—such as unpaid customer invoices, inventory, or equipment—as collateral, similar to using items at a pawn shop to get a short-term loan. Investors care because it alters a company’s cash flow and risk profile: it can provide quick working capital but increases secured obligations and can affect lenders’ priority if the business runs into financial trouble. The terms and size of the facility also influence borrowing costs and financial flexibility.

going concern financial

"risks related to our ability to continue as a going concern for at least one year"

Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.

gain on extinguishment of debt financial

"resulting in a significant non-cash gain on extinguishment of debt"

Earnings Snapshot

Net revenue (Q2 2026): $44,125,702

Three and six months ended June 30, 2026

Net revenue (Q2 2026) $44,125,702 Same-station net revenue decreased 9.6% year-over-year

Net income (Q2 2026) $84,293,430 Improved from net loss of $154,175 in Q2 2025, driven by gain on debt restructure

Adjusted EBITDA (Q2 2026) $5,282,045 Increased from $4,706,522 in Q2 2025

Operating expenses (Q2 2026) $42,794,127 Declined 13.2% year-over-year

Corporate expenses (Q2 2026) $2,360,974 Declined 37.3% year-over-year

Digital revenue (Q2 2026) $11,655,659 Down 11.6% year-over-year; up 7.1% on a same-station basis

FAQ

How much revenue did Beasley Broadcast Group (BBGI) generate in Q2 2026?

Beasley Broadcast Group reported Q2 2026 net revenue of $44.1 million. Same‑station net revenue decreased 9.6% as weakness in traditional national and local agency advertising was only partly offset by stronger digital and local direct spot revenues.

What was Beasley Broadcast Group’s (BBGI) Q2 2026 net income and EPS?

For Q2 2026, Beasley recorded net income of $84.3 million, driven largely by a $91.8 million gain on debt restructuring. Diluted net income per Class A and B share was $45.95, compared with a diluted loss per share of $(0.09) a year earlier.

How did Beasley Broadcast Group’s (BBGI) Adjusted EBITDA change in Q2 2026?

Adjusted EBITDA increased to $5.3 million in Q2 2026 from $4.7 million in Q2 2025. The improvement reflects lower operating and corporate expenses, including about $30 million of annualized cost reductions achieved over the prior twelve months.

What debt reduction did Beasley Broadcast Group (BBGI) achieve in 2026?

Through exchanges and repurchases completed on May 1, 2026, Beasley reduced total outstanding debt by $95 million, including a 46% reduction in second lien debt. Long‑term debt stood at $144.8 million as of June 30, 2026, significantly lowering future cash interest expense.

How is Beasley Broadcast Group’s (BBGI) digital business performing?

Digital revenue was $11.7 million in Q2 2026, down 11.6% year‑over‑year but up 7.1% on a same‑station basis. Digital accounted for 26% of net revenue, and the digital segment delivered a 15.4% operating margin for the quarter.

What liquidity and cash flow trends did Beasley Broadcast Group (BBGI) report for 2026 year‑to‑date?

For the six months ended June 30, 2026, Beasley reported net cash used in operating activities of $(15.2) million. Net cash from investing activities was $17.9 million, while financing activities used $(5.9) million, resulting in a $3.2 million decrease in cash.

What key risks did Beasley Broadcast Group (BBGI) highlight in this update?

The company cited risks including its ability to comply with Nasdaq continued listing standards and continue as a going concern for at least one year, along with macroeconomic, advertising, regulatory, technology, and leverage‑related risks outlined in its SEC filings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 08/12/2026 - 05:01 PM Accepted by SEC EDGAR 08/12/2026 - 05:00 PM Learn about SEC filing dates

0001099160false00010991602026-08-122026-08-12

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 12, 2026

BEASLEY BROADCAST GROUP, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			000-29253	65-0960915
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3033 Riviera Drive, Suite 200
Naples, Florida				34103
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 239 263-5000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, par value $0.001 per share		BBGI		The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 12, 2026, Beasley Broadcast Group, Inc. issued a press release announcing its financial results for the fiscal quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number		Description
99.1		Press Release dated August 12, 2026 issued by Beasley Broadcast Group, Inc.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			BEASLEY BROADCAST GROUP, INC.
Date:	August 12, 2026	By:	/s/ Caroline Beasley
			Caroline Beasley Chief Executive Officer

Exhibit 99.1

Conference Call and Webcast

Today, August 12, 2026 at 6:00 p.m. ET

(800) 715-9871 or +1 (646) 307-1963, conference ID 1613596 or

www.bbgi.com

Replay information provided below

CONTACT:
Heidi Raphael	Ilana Goldstein
Chief Communications Officer	Director, IR & Corp. Dev.
Beasley Broadcast Group, Inc.	Beasley Broadcast Group, Inc.
239/263-5000 or Heidi.raphael@bbgi.com	212/835-8500 or ilana@bbgi.com

BEASLEY BROADCAST GROUP REPORTS SECOND QUARTER REVENUE OF $44.1 MILLION

NAPLES, Florida, August 12, 2026 – Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three-month period ended June 30, 2026. For further information, the Company has posted a presentation to its website regarding the first quarter highlights and accomplishments that management will review on today’s conference call.

Second Quarter Financial Highlights

In millions, except per share data		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2026				2025				2026
Net revenue		$	53.0			$	44.1			$	101.9			$	86.7
Operating income			2.9				1.3				0.9				9.0
Net income (loss)			(0.2	)			84.3				(2.8	)			87.5
Net income (loss) per diluted share			(0.09	)			45.95				(1.59	)			48.01
Adjusted EBITDA (non-GAAP)		$	4.7			$	5.3			$	5.8			$	4.9

Second Quarter 2026 Highlights

•Revenue from new business accounted for 13% of net revenue

•Local revenue, including digital packages sold locally, accounted for 74% of net revenue and grew 9% year-over-year

•Digital revenue was $11.7 million, down 11.6% year-over-year and a 7.1% increase on a same-station basis

•Digital revenue accounted for 26% of net revenue

•Digital segment operating margin was 15.4%

On May 1st, we took significant steps to strengthen our balance sheet and improve financial flexibility. Through the completion of our second lien restructuring, repurchase of a portion of our first lien notes, establishment of a new asset-based lending facility, and the continued execution of our portfolio optimization strategy, we meaningfully improved our capital structure and liquidity position. These actions provide additional runway and flexibility as we continue executing our operating and deleveraging strategy. Through the exchange and repurchase of indebtedness, the Company reduced total outstanding debt by $95 million, including a 46% reduction in its second lien debt, resulting in a significant non-cash gain on extinguishment of debt that drove GAAP net income for the quarter. Beyond its accounting impact, the transaction materially lowers future cash interest expense, simplifies the Company's capital structure, and represents a meaningful step forward in Beasley's long-term strategy to improve free cash flow, reduce leverage, and create shareholder value.

Beasley Broadcast Group, 8/12/2026 page 2

Net revenue during the three months ended June 30, 2026 decreased 9.6% on a same-station basis to $44.1 million, reflecting continued weakness in the Company's traditional national and local agency advertising businesses. These declines were partially offset by strength in digital revenues, including 7.1% same-station growth in digital revenue, and stabilization in local direct spot revenues.

Operating expenses declined 13.2% year-over-year, reflecting the continued benefit of previously announced cost reduction initiatives and disciplined expense management across the organization. During the second quarter of 2026, the Company implemented approximately $10 million of additional annualized expense reductions, bringing total savings achieved over the trailing twelve months to roughly $30 million.

Station Operating Income totaled $5.3 million, representing an SOI margin of 12.1%. Corporate expenses, including $367,275 of expenses related to our debt restructuring which closed on May 1,2026, declined 37.3% year-over-year, reflecting impacts from cost actions taken over the trailing twelve month period.

Adjusted EBITDA was $5.3 million for the second quarter of 2026, compared to $4.7 million in the prior year period.

Please refer to the "Reconciliation of Net Income (Loss) to Adjusted EBITDA" table at the end of this release.

Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said:

“While second quarter results continued to reflect pressure across portions of the traditional advertising marketplace, we are encouraged by the progress we're making in transforming Beasley into a more diversified, higher-margin media company. Our digital and local direct spot businesses continue to build momentum, our cost structure is significantly more efficient than it was a year ago, and we remain focused on improving the quality of our revenue. We believe these initiatives are creating a stronger operating foundation and positioning the Company for more consistent financial performance over the long term.”

“At the same time, we continue to execute against the financial priorities we established at the beginning of the year. We are operating with discipline, allocating capital thoughtfully, and taking deliberate actions to strengthen our balance sheet through debt reduction, portfolio optimization, and improved financial flexibility. These efforts, combined with our ongoing operational initiatives, are designed to improve cash flow generation and create long-term value for our shareholders.”

“Looking ahead, our strategy remains unchanged. We are focused on delivering sustainable revenue growth, expanding EBITDA through continued operating discipline and higher-margin revenue, and further reducing leverage over time. While the broader advertising environment remains dynamic, we believe the actions we are taking today are positioning Beasley to emerge as a stronger, more profitable, and more resilient company.”

Conference Call and Webcast Information

The Company will host a conference call and webcast today, August 12, 2026 at 6:00 p.m. ET to discuss its financial results and operations. To access the conference call, interested parties may dial (800) 715-9871 or +1 (646) 307-1963 conference ID 1613596 (domestic and international callers). Participants can also listen to a live webcast of the call at the Company’s website at www.bbgi.com. Please allow 15 minutes to register and download and install any necessary software. Following its completion, a replay of the webcast can be accessed for five days on the Company’s website, www.bbgi.com.

Questions from analysts, institutional investors and debt holders may be e-mailed to ir@bbgi.com at any time up until 4:00 p.m. ET on Wednesday, August 12, 2026. Management will answer as many questions as possible during the conference call and webcast (provided the questions are not addressed in their prepared remarks).

About Beasley Broadcast Group

The Company is a multi-platform media company whose primary business is operating radio stations throughout the United States. The Company offers local and national advertisers integrated marketing solutions across audio, digital and event platforms. The Company owns and operates 49 AM and FM stations in the following large- and mid-size markets in the United States: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Las Vegas, NV, Middlesex, NJ,

Beasley Broadcast Group, 8/12/2026 page 3

Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. Approximately 18 million consumers listen to the Company’s radio stations weekly over-the-air, online and on smartphones and tablets, and millions regularly engage with the Company’s brands and personalities through digital platforms such as Facebook, X, text, apps and email. For more information, please visit www.bbgi.com.

For further information, or to receive future Beasley Broadcast Group news announcements via e-mail, please contact Beasley Broadcast Group, at 239-263-5000 or ir@bbgi.com.

Definitions

EBITDA is defined as net income (loss) before interest income or expense, income tax expense or benefit, depreciation, and amortization.

Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain, non-operating or other items that we believe are not indicative of the performance of our ongoing operations, such as impairment losses, other income or expense, one-time severance expense, stock-based compensation or equity in earnings of unconsolidated affiliates. See “Reconciliation of Net Loss to Adjusted EBITDA” for additional information.

Adjusted EBITDA is a measure widely used in the media industry. The Company recognizes that because Adjusted EBITDA is not calculated in accordance with GAAP, it is not necessarily comparable to similarly titled measures employed by other companies. However, management believes that Adjusted EBITDA provides meaningful information to investors because it is an important measure of how effectively we operate our business and assists investors in comparing our operating performance with that of other media companies.

Same station revenue and same station operating expenses exclude revenue or operating expenses, as applicable, from all divestitures and other operations that were exited in the prior 12 months. These measures provide investors with a clearer view of core business performance by eliminating the impact of portfolio changes and enabling more meaningful year-over-year comparisons. By isolating the performance of continuing operations, same station results offer greater transparency into underlying trends, operational execution, and the effectiveness of strategic initiative.

New business revenue is defined as revenue from an advertiser that has not advertised in the prior 13 months before the start of the current quarter.

Note Regarding Forward-Looking Statements

Statements in this release that are “forward-looking statements” are based upon current expectations and assumptions and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as “looking ahead,” “intends,” “believes,” “expects,” “seek,” “will,” “should” or variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements, by their nature, address matters that are, to different degrees, uncertain. Key risks are described in the Company’s reports filed with the Securities and Exchange Commission (“SEC”) including its annual report on Form 10-K and quarterly reports on Form 10-Q. Readers should note that forward-looking statements are subject to change and to inherent risks and uncertainties and may be impacted by several factors, including:

•our ability to comply with the continued listing standards of Nasdaq, remain listing on Nasdaq and make periodic filings with the SEC;

•risks from health epidemics, natural disasters, terrorism, and other catastrophic events;

•adverse effects of inflation;

•external economic forces and conditions that could have a material adverse impact on our advertising revenues and results of operations;

•the ability of our stations to compete effectively in their respective markets for advertising revenues;

•our ability to develop compelling and differentiated digital content, products and services;

•audience acceptance of our content, particularly our audio programs;

Beasley Broadcast Group, 8/12/2026 page 4

•our ability to adapt or respond to changes in technology, standards and services that affect the audio industry;

•our dependence on federally issued licenses subject to extensive federal regulation;

•actions by the Federal Communications Commission (“FCC”) or new legislation affecting the audio industry;

•increases in royalties we pay to copyright owners or the adoption of legislation requiring royalties to be paid to record labels and recording artists;

•our dependence on selected market clusters of stations for a material portion of our net revenue;

•credit risk on our accounts receivable;

•impairment of our FCC licenses;

•our substantial debt levels and the potential effect of restrictive debt covenants on our operational flexibility and ability to pay dividends;

•the potential effects of hurricanes, extreme weather and other climate change conditions on our corporate offices and stations;

•the failure or destruction of the internet, satellite systems and transmitter facilities that we depend upon to distribute our programming;

•modifications or interruptions of our information technology infrastructure and information systems;

•the loss of key executives and other key employees;

•our ability to identify, consummate and integrate acquired businesses and stations;

•our stock may be subject to immediate and substantial dilution and other risks related to our at the market offering program;

•risks related to our ability to continue as a going concern for at least one year from the date of issuance of the financial statements included in this earnings release;

•the fact that our Company is controlled by the Beasley family, which creates difficulties for any attempt to gain control of our Company; and

•other economic, business, competitive, and regulatory factors, such as the ongoing U.S. government shutdown, affecting our businesses, including those set forth in our filings with the SEC.

Our actual performance and results could differ materially because of these factors and other factors discussed in our SEC filings, including but not limited to our annual reports on Form 10-K or quarterly reports on Form 10-Q, copies of which can be obtained from the SEC at www.sec.gov, or our website at www.bbgi.com. All information in this release is as of August 12, 2026, and we undertake no obligation to update the information contained herein to actual results or changes to our expectations, except as required by law.

Beasley Broadcast Group, 8/12/2026 page 5

BEASLEY BROADCAST GROUP, INC.

Condensed Consolidated Statements of Net Income (Loss) - Unaudited

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Net revenue		$	52,999,711			$	44,125,702			$	101,912,176			$	86,714,437
Operating expenses:
Operating expenses (including stock-based compensation and excluding depreciation and amortization shown separately below)			44,750,198				38,808,170				89,991,459				80,978,801
Corporate expenses (including stock-based compensation)			3,769,243				2,360,974				7,788,705				5,888,544
Depreciation and amortization			1,589,014				1,624,983				3,241,345				3,282,274
Gain on dispositions			—				—				(1,698,228	)			(12,461,477	)
Total operating expenses			50,108,455				42,794,127				99,323,281				77,688,142
Operating income			2,891,256				1,331,575				2,588,895				9,026,295
Non-operating income (expense):
Interest expense			(3,294,772	)			(1,487,741	)			(6,675,414	)			(4,751,138	)
Gain on debt restructure			—				91,785,121				—				91,785,121
Gain on repurchase of long-term debt			525,000				—				525,000				—
Other income (expense), net			75,887				78,729				(524,856	)			161,645
Income (loss) before income taxes			197,371				91,707,684				(4,086,375	)			96,221,923
Income tax expense (benefit)			283,990				7,299,839				(1,283,737	)			8,628,207
Income (loss) before equity in earnings of unconsolidated affiliates			(86,619	)			84,407,845				(2,802,638	)			87,593,716
Equity in earnings of unconsolidated affiliates, net of tax			(67,556	)			(114,415	)			(41,358	)			(85,496	)
Net income (loss)		$	(154,175	)		$	84,293,430			$	(2,843,996	)		$	87,508,220
Basic net income (loss) per Class A and Class B common share		$	(0.09	)		$	46.47			$	(1.59	)		$	48.34
Diluted net income (loss) per Class A and Class B common share		$	(0.09	)		$	45.95			$	(1.59	)		$	48.01
Basic weighted-average common shares outstanding			1,794,754				1,814,006				1,793,399				1,810,145
Diluted weighted-average common shares outstanding			1,794,754				1,834,274				1,793,399				1,822,735

Selected Balance Sheet Data - Unaudited

(in thousands)

		December 31,				June 30,
		2025				2026
Cash and cash equivalents		$	9,937			$	6,698
Working capital			230				9,130
Total assets			299,288				279,597
Long-term debt, net of unamortized debt issuance costs			235,287				144,818
Stockholders' equity (deficit)		$	(48,365	)		$	38,827

Selected Statement of Cash Flows Data – Unaudited

		Six months ended
		June 30,
		2025				2026
Net cash used in operating activities		$	(419,923	)		$	(15,246,712	)
Net cash provided by investing activities			1,373,169				17,865,256
Net cash used in financing activities			(1,002,042	)			(5,857,736	)
Net decrease in cash and cash equivalents		$	(48,796	)		$	(3,239,192	)

Beasley Broadcast Group, 8/12/2026 page 6

Reconciliation of Net Income (Loss) to Adjusted EBITDA – Unaudited

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Net income (loss)		$	(154,175	)		$	84,293,430			$	(2,843,996	)		$	87,508,220
Interest expense			3,294,772				1,487,741				6,675,414				4,751,138
Income tax expense (benefit)			283,990				7,299,839				(1,283,737	)			8,628,207
Depreciation and amortization			1,589,014				1,624,983				3,241,345				3,282,274
EBITDA			5,013,601				94,705,993				5,789,026				104,169,839
Severance expenses			149,643				1,904,893				1,039,113				2,063,563
Non-recurring expenses			—				367,275				494,961				2,891,873
Stock-based compensation expenses			76,609				53,319				175,228				104,107
Gain on dispositions			—				—				(1,698,228	)			(12,461,477	)
Gain on debt restructure			—				(91,785,121	)			—				(91,785,121	)
Gain on repurchase of long-term debt			(525,000	)			—				(525,000	)			—
Other (income) expense, net			(75,887	)			(78,729	)			524,856				(161,645	)
Equity in earnings of unconsolidated affiliates, net of tax			67,556				114,415				41,358				85,496
Adjusted EBITDA		$	4,706,522			$	5,282,045			$	5,841,314			$	4,906,635

Calculation of Same Station Net Revenue and Operating Expenses – Unaudited

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Net revenue		$	52,999,711			$	44,125,702			$	101,912,176			$	86,714,437
Fort Myers			(1,964,133	)			808				(3,853,572	)			(299,007	)
Tampa (WPBB-FM)			(357,369	)			—				(646,215	)			—
Digital Direct			(1,890,898	)			—				(3,597,531	)			—
Same station net revenue		$	48,787,311			$	44,126,510			$	93,814,858			$	86,415,430

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Operating expenses		$	44,750,198			$	38,808,170			$	89,991,459			$	80,978,801
Fort Myers			(1,573,346	)			(43,110	)			(3,250,632	)			(1,280,533	)
Tampa (WPBB-FM)			(256,629	)			—				(498,868	)			—
Digital Direct			(2,044,752	)			—				(4,014,535	)			—
Same station operating expenses		$	40,875,471			$	38,765,060			$	82,227,424			$	79,698,268

Calculation of Same Station Audio Net Revenue and Audio Operating Expenses – Unaudited

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Audio net revenue		$	39,818,870			$	32,470,043			$	77,972,240			$	64,354,495
Fort Myers			(1,561,217	)			808				(3,067,205	)			(225,659	)
Tampa (WPBB-FM)			(357,369	)			—				(646,215	)			—
Same station audio net revenue		$	37,900,284			$	32,470,851			$	74,258,820			$	64,128,836

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Audio operating expenses		$	35,095,319			$	28,950,275			$	71,490,295			$	9,857,895
Fort Myers			(1,293,770	)			(36,567	)			(2,762,771	)			(1,044,102	)
Tampa (WPBB-FM)			(256,629	)			—				(498,868	)			—
Same station audio operating expenses		$	33,544,920			$	28,913,708			$	68,228,656			$	8,813,793

Calculation of Same Station Digital Net Revenue and Digital Operating Expenses – Unaudited

Beasley Broadcast Group, 8/12/2026 page 7

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Digital net revenue		$	13,180,481			$	11,655,659			$	23,939,936			$	22,359,942
Fort Myers			(402,916	)			—				(786,367	)			(73,348	)
Digital Direct			(1,890,898	)			—				(3,597,531	)			—
Same station digital net revenue		$	10,886,667			$	11,655,659			$	19,556,038			$	22,286,594

		Three months ended								Six months ended
		June 30,								June 30,
		2025				2026				2025				2026
Digital operating expenses		$	9,654,879			$	9,857,895			$	18,501,164			$	18,901,609
Fort Myers			(279,576	)			(6,543	)			(487,861	)			(236,431	)
Digital Direct			(2,044,752	)			—				(4,014,535	)			—
Same station digital operating expenses		$	7,330,551			$	9,851,352			$	13,998,768			$	18,665,178

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 610.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 23.3 KB