Welcome to our dedicated page for Bright Mountain Media SEC filings (Ticker: BMTM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Bright Mountain Media, Inc. filings document material events for a public marketing services and media holding company whose subsidiaries include CL Media Holdings LLC, Bright Mountain LLC, MediaHouse, Inc., Deep Focus Agency LLC, and BV Insights LLC. Recent disclosures cover furnished operating results, non-GAAP reconciliations, and the company’s reporting of quarterly and annual financial performance.
The filing record also includes 8-K and amended 8-K disclosures on amendments to its senior secured credit agreement, direct financial obligations, share issuances connected to lender arrangements, OTC market-tier status for BMTM common stock, and executive officer departure, appointment, and compensation arrangements.
Bright Mountain Media, Inc. reported a leadership change in its finance organization. Effective April 30, 2026, Chief Financial Officer Ethan Rudin departed and will receive severance equal to six months of his base salary under his employment agreement.
Chief Executive Officer Matt Drinkwater will serve as interim principal financial officer and interim principal accounting officer until the company files its next Form 10-Q. The company appointed Mr. Olgun as its new Chief Financial Officer under a May 1, 2026 employment agreement, with a $335,000 annual base salary and an annual bonus opportunity of up to 50% of base salary.
Mr. Olgun received options to purchase 1,000,000 shares of common stock at an exercise price of $0.004 per share, vesting over four years starting May 6, 2027, and is entitled to six months of base salary as severance if terminated without cause. His agreement includes customary non-competition, non-solicitation, and non-disclosure covenants.
Bright Mountain Media, Inc. reports that its common stock has been moved to the OTCID market tier of the OTC Markets Group under the symbol “BMTM”. The change followed a notice that the Company’s bid price stayed below $0.01 for more than 30 consecutive days and it did not regain the required minimum closing bid of $0.01 by April 9, 2026. Trading on the OTCID tier began on April 10, 2026.
Bright Mountain Media, Inc. filed an amendment describing the Twenty-Fifth Amendment to its Amended and Restated Senior Secured Credit Agreement effective as of March 31, 2026. The amendment defers a quarterly principal payment on the Second Out Loans of approximately $1.2 million that was due March 31, 2026 until December 20, 2026, and changes interest of about $201,000 for the same period to be paid in kind instead of cash. As consideration, the company agreed to issue 2,922,566 shares of common stock, equal to 1.5% of fully-diluted pro forma ownership as of March 31, 2026, to Centre Lane Partners, which will hold about 27.3% of the common stock after the issuance. The company states that approximately $1.6 million will be due under the credit agreement as of June 30, 2026, and about $92.1 million will be due as of the maturity date on December 20, 2026.
Bright Mountain Media, Inc. amended its senior secured credit agreement through a Twenty-Fifth Amendment effective March 31, 2026. The company deferred a quarterly principal installment on its Second Out Loans of approximately $1.2 million that was due March 31, 2026, pushing it to December 20, 2026. Interest of about $201,000 on the Second Out Loans for the period ended March 31, 2026 was changed to payable-in-kind instead of cash. As consideration, the company will issue 2,922,566 shares of common stock, equal to 1.5% of fully-diluted pro forma ownership, to Centre Lane Partners, which will bring Centre Lane and its affiliates to 27.3% beneficial ownership. Under the amended schedule, approximately $1.6 million is due under the credit agreement as of June 30, 2026, and about $92.1 million will be due on December 20, 2026, the maturity date.
Bright Mountain Media, Inc. reported that OTC Markets Group notified it that the Company no longer meets OTCQB continued listing standards because its common stock bid price stayed below $0.01 for more than 30 consecutive calendar days. The Company was granted a 90-day cure period, later extended to April 9, 2026, during which the bid price must close at or above $0.01 for ten consecutive trading days.
Management evaluated options such as a reverse stock split but decided not to pursue actions to regain compliance, citing costs, administrative burden, and low trading volume. As the Company has not regained compliance, management expects the common stock to begin trading on the OTCID market tier on April 10, 2026 under the same symbol, “BMTM,” if the bid price requirement is still not met.
Bright Mountain Media reported mixed fourth-quarter and full-year 2025 results. Full-year revenue rose to $59.2 million from $56.7 million, driven mainly by advertising technology and consumer insights, while fourth-quarter revenue fell to $15.7 million from $17.1 million as advertisers became more cautious.
Cost of revenue for 2025 increased to $43.4 million, but general and administrative expenses dropped to $16.4 million from $21.4 million, helping narrow the net loss to $13.5 million from $17.0 million. Adjusted EBITDA improved sharply to $3.0 million from $790,000, reflecting operational efficiencies despite sector headwinds.
The balance sheet remains highly leveraged, with total assets of $39.7 million versus total liabilities of $116.3 million and a stockholders’ deficit of $76.6 million. A large Centre Lane senior secured credit facility continues to drive substantial interest expense.
Bright Mountain Media, Inc. reported 2025 revenue of $59.2 million, up 4% from 2024, while net loss narrowed to $13.5 million from $17.0 million. Growth came mainly from advertising technology and creative services, offset by declines in media services, consumer insights, and digital publishing.
Gross margin slipped to 27% as cost of revenue grew faster than sales, but general and administrative expenses fell 23%, helping Adjusted EBITDA improve to $3.0 million. The company carries $86.1 million of Centre Lane debt and ended 2025 with a working capital deficit of $95.5 million, prompting a going concern warning and a search for refinancing, restructuring, or new capital.
Triscari Thomas A. reported acquisition or exercise transactions in this Form 4 filing.
Bright Mountain Media, Inc. director Thomas A. Triscari reported a grant of stock options on shares of the company’s common stock. The award covers 100,000 stock options at a price of $0.0000 per share, increasing his directly owned derivative securities to 100,000 options following the transaction.
According to the terms, these stock options are scheduled to vest and become exercisable on December 31, 2026. If Triscari resigns from the board without cause during 2026, the number of shares underlying the option will be prorated through his resignation date and will vest on that date.
Triscari Thomas A. reported acquisition or exercise transactions in this Form 4 filing.
Bright Mountain Media, Inc. director Thomas A. Triscari received a grant of stock options covering 100,000 shares on January 2, 2025. These options are scheduled to vest and become exercisable on December 31, 2025, with prorated vesting if he resigns from the board without cause during 2025.
Bright Mountain Media director Jeffrey K. Hirsch received a grant of stock options for 100,000 shares of the company on February 26, 2026. The options have an exercise price of $0.00 per share and represent a new derivative position reported as directly owned.
The stock options are scheduled to vest and become exercisable on December 31, 2026. If Hirsch resigns from the Board without cause during 2026, the number of shares underlying the option will be prorated through his resignation date and will vest on that resignation date.