Welcome to our dedicated page for Bright Mountain 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 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.
PERGOLA JOSEPH reported acquisition or exercise transactions in this Form 4 filing.
Bright Mountain Media, Inc. director Joseph Pergola reported receiving a grant of stock options covering 100,000 shares of the company’s stock. This is an award of derivative securities, not an open-market purchase or sale.
According to the terms, the options are scheduled to vest and become exercisable on December 31, 2026. If Pergola resigns from the board without cause during 2026, the number of shares underlying the option will be prorated through his resignation date and that prorated portion will vest at the time he resigns.
Riddell Elaine J. reported acquisition or exercise transactions in this Form 4 filing.
Bright Mountain Media director Elaine J. Riddell reported receiving a grant of stock options for 100,000 shares of Bright Mountain Media, Inc. common stock. These options will vest and become exercisable on December 31, 2026, with prorated vesting if she resigns from the board without cause during 2026.
Bright Mountain Media, Inc. received an updated ownership report showing large passive stakes held through funds advised by 10th Lane Partners. 10th Lane is reported as beneficial owner of 44,386,469 shares of common stock, representing 24.5% of the class, based on approximately 181,310,000 outstanding shares.
BV Agency, LLC directly holds 26,403,984 shares, and Centre Lane Partners Master Credit Fund II, L.P. directly holds 17,982,485 shares. The reporting parties certify the holdings are in the ordinary course of business and not for the purpose of changing or influencing control of Bright Mountain Media.
Bright Mountain Media, Inc. insider Matthew Drinkwater, the company’s Chief Executive Officer and a director, reported a small acquisition of common stock. On 12/10/2025 he acquired 299,500 shares of common stock at $0.0054 per share under transaction code “L.”
Following this transaction, he held 319,932 shares of Bright Mountain Media common stock with direct ownership at the end of the issuer’s 2025 fiscal year. The filing notes that this was a small acquisition eligible for deferred reporting under Rule 16a-6 of the Securities Exchange Act of 1934.