What is Townsquare Media's latest dividend and current dividend yield?

What guidance did Townsquare Media's management provide for the next earnings period?

What is the market's earnings forecast for Townsquare Media next quarter?

What is the revenue and EPS growth rate for Townsquare Media year over year?

What factors drove the changes in Townsquare Media's revenue and profit?

Did Townsquare Media beat or miss consensus estimates last quarter?

What does Townsquare Media do and what are its main business segments?

What were the key takeaways from Townsquare Media’s earnings call?

- **Digital Dominance**: 55% of revenue now from digital, up from 52%, with programmatic +high single digits and owned properties +10% YoY.
- **Profit Resilience**: Broadcast ex-political profit margin 28% (vs. 25% prior), Interactive profit +21% despite 2% revenue decline.
- **Headwinds & Growth**: Remnant revenue down 50% YoY, but media partnerships to scale to $50M in 5 years.
- **2025 Guidance**: Net revenue $426-430M, EBITDA $88-90M, with Q4 revenue $105-109M.
- **Interactive Margin Expansion**: 33% profit margin in 2025, targeting 30%+ in 2026 despite salesforce rebuild.

**【CEO Summary Section】**
- Total net revenue of $106.8 million met Q3 guidance, with adjusted EBITDA of $22 million. Digital revenue now accounts for 55% of total net revenue, up from 52% in 2024, driven by programmatic advertising growth (+high single digits) and direct sales of owned digital properties (+10% year-over-year). Remnant revenue declined 50% YoY due to AI-driven search traffic declines, offsetting programmatic growth. Broadcast advertising ex-political declined 8% YoY but maintained 28% profit margin, up from 25% in Q3 2024. Townsquare Interactive (SaaS) delivered 21% profit growth despite 2% revenue decline, driven by AI efficiency and reduced salesforce costs.

**【CFO Financial Commentary】**
- Q3 net loss of $5.5 million ($0.36 per share) reflected $18 million cash flow from operations, down $3 million YoY. Debt reduced by $17 million through Q3, with net leverage of 4.71x. Full year 2025 guidance revised to net revenue $426-$430 million (down from prior $430-$435 million) and adjusted EBITDA $88-$90 million (down from $90-$92 million), due to $7.5 million remnant revenue decline and $1 million political revenue shortfall. Q4 2025 guidance: net revenue $105-$109 million, adjusted EBITDA $21.5-$23.5 million.

**【Q&A Key Highlights】**
- **Broadcast Advertising Stabilization**: Q4 ex-political decline of 8% vs. Q3's 8%, with slight improvement in sales trends. Profit margin up 3% YoY to 28%.
- **Interactive Segment Momentum**: 33% profit margin in Q3 (vs. 28% historical), driven by AI and reduced salesforce. 2025 profit growth expected despite 2026 revenue recovery lag.
- **Ignite Media Partnerships**: 6 partners signed, contributing $6 million in 2025 revenue at 20% margin. Potential to scale to $50 million in 5 years.
- **Remnant Revenue Outlook**: 2025 remnant revenue expected to decline $7.5 million (from $20 million in 2024), stabilizing in H2 2026.


Townsquare Media, Inc. (TSQ) Q3 2025 Earnings Call Transcript

- **Digital Dominance**: 55% of revenue from digital (vs 52% in 2024), with programmatic ads (60% of digital ad revenue) leading growth.
- **Profit Power**: TSI segment profit +19% YoY (33% margin), Ignite EBITDA +1% YoY despite macro headwinds.
- **Debt Reduction**: $13M debt repayment since Feb, net leverage 4.58x, high-yield dividend ($12% yield).
- **Growth Catalysts**: Media partnerships ($6M+ in 2025, targeting $50M+ in 5 years), AI-driven efficiency, and broadcast market share gains (39% spot share).

**【CEO Summary Section】**
- **Revenue and EBITDA Performance**: Q2 total net revenue (-2% YoY) and adjusted EBITDA (+1% YoY) met/exceeded guidance, driven by digital growth and cost control. Digital revenue now 55% of total, up from 52% in 2024.
- **Digital Advertising Growth**: Ignite segment grew +2% YoY despite search traffic decline, with programmatic (60% of digital ad revenue) leading. Media partnerships added $6M+ in 2025, targeting $50M+ in 5 years.
- **Subscription Business Strength**: Townsquare Interactive (TSI) segment profit +19% YoY (33% margin), despite +1% revenue growth. AI and sales restructuring driving efficiency.
- **Broadcast Resilience**: Radio revenue (-8% YoY ex-political) maintained 30% profit margin, gaining market share (39% spot share in Q2).
- **Challenges**: Search engine referral traffic decline muted indirect ad revenue, DOGE cuts reduced govt advertising by several million dollars.

**【CFO Financial Commentary】**
- **Q2 Financials**: Net revenue $115.4M (-2.3% YoY), adjusted EBITDA $26.4M (+0.7% YoY). TSI profit +15% YoY, broadcast margin 30% (vs 28.5% 2024).
- **Cash Flow & Debt**: Generated $10M cash flow Q2, repaid $13M debt since Feb refinancing. Net leverage 4.58x, dividend $0.20Q1 ($13M annualized).
- **Guidance Update**: Full-year revenue $435-440M, EBITDA $90-94M. Q3 revenue $106.5-108.5M, EBITDA $22-23M.

**【Q&A Key Highlights】**
- **Search Traffic Impact**: Referral traffic decline (Google AI changes) muted indirect ad revenue, but direct sales (programmatic + owned sites) remain strong. Expect plateau in 2026.
- **Advertiser Caution**: Shorter campaign durations post-Liberation Day, but direct sales growth (+high single digits) offset remnant declines.
- **Phoenix Office Update**: 40+ employees, focused on West Coast clients and talent recruitment. TSI on track for $7-10M 2026 revenue.
- **Govt Advertising Cuts**: DOGE reductions impacted $M+ in broadcast and digital ad revenue, but expect normalization in 2026.

Townsquare Media (TSQ)-6 Aug 25-2025 Q2 Earnings call transcript

- **Digital Dominance**: 57% of Q1 revenue and 62% of profit from digital, with Ignite growing 8% YoY and Interactive profit up 22%.
- **Partnership Growth**: 5 media partnerships signed, targeting $50M+ annual revenue in 3-5 years at 20% margins.
- **Broadcast Resilience**: 9% YoY decline but 20%+ margins maintained via market share gains and cost control.
- **Q2 Outlook**: Adjusted EBITDA guidance of $25-26M, supported by mid-single-digit Ignite growth and Interactive profit expansion.
- **Trade Policy Recovery**: May advertising rebound post-April uncertainty, with June trends returning to pre-April levels.

**【CEO Opening Remarks】**
- Q1 net revenue was $98.7 million, flat year-over-year excluding political, with digital revenue accounting for 57% of total revenue (up from 52% in 2024). Digital segment profit reached 62% of total profit, the highest in company history.
- Digital advertising (Ignite) grew 8% YoY to $37 million, driven by programmatic solutions and media partnerships. Q1 added 2 new media partners, bringing total to 5, with long-term target of $50 million+ annual revenue.
- Subscription-based digital solutions (Interactive) saw revenue grow 4% YoY and profit rise 22% YoY to $1.1 million, with 32% margins. Addressable market of 9 million SMBs positions for long-term growth.
- Broadcast advertising declined 9% YoY, but maintained 20%+ profit margins through market share gains and cost control.

**【CFO Financial Highlights】**
- Q1 adjusted EBITDA of $18.1 million (+3.5% YoY) exceeded guidance range of $17-18 million, driven by digital margin expansion to 18.4%.
- Ignite segment profit margin improved to 21.5%, while Interactive achieved 32% margins.
- Q2 guidance: Net revenue $114-116 million, adjusted EBITDA $25-26 million. Full-year targets remain $435-455 million revenue and $90-98 million EBITDA.
- Cash balance of $6 million post-refinancing, with $477 million debt outstanding and net leverage of 4.67x.

**【Q&A Key Takeaways】**
- **Market Differentiation**: 74 non-top-50 markets provide 2x+ digital advertising margins vs. top-50 peers, with Ignite acting as full-service digital agency.
- **Broadcast Synergy**: 85%+ of broadcast advertisers also use digital solutions, with share shift from broadcast to digital offset by equal/double-digit digital margins.
- **Acquisition Strategy**: Organic growth in digital (8% Q1 Ignite) and media partnerships ($1M+ Q1 contribution) complement potential acquisitions, with Cherry Creek proving 2.5-year profit doubling model.
- **Tariff Impact**: April advertising pause (due to trade policy uncertainty) reversed in May, with June trends returning to pre-April levels.


Townsquare Media (TSQ)-8 May 25-2025 Q1 Earnings call transcript

- **Digital Dominance**: 52% of revenue from digital, with Ignite +15.5% YoY and Interactive returning to growth in Q4.
- **Profitability Boost**: Digital advertising margins ~26%, Interactive margins ~28%, driving $62M segment profit.
- **Debt Refinancing Success**: Extended debt to 2030, reducing leverage to 4.33x while maintaining high-yield dividend (+1.3% YoY).
- **Growth Catalysts**: Media partnerships poised for $50M+ top line by 2028, Interactive targeting $2.5M-$3M profit in 2025.
- **Broadcast Transition**: Broadcast ex-political down -6% YoY, but profit margin improving to ~30% as digital offsets decline.

**【CEO Summary Section】**
- **Revenue Performance**: Q4 2024 net revenue of $117.8M (+2.6% YoY), full year $451M (-0.7% YoY). Digital revenue contributed 52% of total net revenue and 50% of segment profit. Q4 digital revenue grew +11% YoY.
- **Digital Growth Drivers**: 
  - **Ignite (Digital Advertising)**: Q4 net revenue +15.5% YoY, full year +5.5%. Programmatic advertising led growth, with Q1 2025 expected in high single digits.
  - **Interactive (SaaS)**: Q4 returned to +2% YoY revenue growth, Q1 2025 expected +4% YoY. Segment profit to increase ~20% in Q1 vs. Q4 2024.
- **Broadcast Performance**: Ex-political revenue declined -6% YoY (Q4) and -1.3% full year, but broadcast segment profit margin improved to ~30%.
- **Strategic Initiatives**: 
  - Media partnerships (e.g., Summit Media, Steel City Media) generated ~$1M in Q1 2025, with potential to scale to $50M+ in top line by 2028.
  - Refinanced $490M debt to 2030 maturity, reducing leverage to 4.33x.
- **Dividend Increase**: Annual dividend raised to $0.80/share (+1.3% YoY), yielding ~10%.

**【CFO Financial Commentary】**
- **Profitability**: Q4 adjusted EBITDA $31.2M (+25.8% YoY), full year $100.4M (+0.4% YoY). Digital advertising margin ~26%, Interactive margin ~28%.
- **Cash Flow**: Q4 cash flow from ops $28.2M, full year $48.8M. Ended 2024 with $33M cash.
- **Share Repurchases**: $24M in 2024, +$13M in buybacks since 2021 at $7.30 avg price.
- **Debt Management**: Reduced leverage to 4.33x, with $45M annual interest expense (up $9M YoY but offset by debt paydowns).

**【Q&A Highlights】**
- **Interactive Subscribers**: Q4 ended with ~25,000 subscribers, ARPU ~$300. Q1 2025 expects +4% YoY revenue growth, +20% YoY profit growth.
- **M&A Outlook**: Open to acquiring broadcast assets outside top 50 markets if FCC deregulation allows, but prioritizing media partnerships and debt reduction.
- **Economic Resilience**: Digital advertising growth (+15.5% Q4) and Interactive recovery demonstrate ability to navigate macro uncertainty.


Townsquare Media (TSQ)-17 Mar 25-2024 Q4 Earnings call transcript

Townsquare Media (TSQ)-7 Nov 24-2024 Q3 Earnings call transcript

Townsquare Media Inc - Ordinary Shares (TSQ)-7 Aug 24-2024 Q2 Earnings call transcript

Townsquare Media, Inc. (TSQ) Q1 2024 Earnings Call Transcript

- **Digital Dominance**: 51% of revenue and 55% of profits from digital, with advertising up 7% YoY to $232.5 million.
- **TSI Recovery**: Q2 2024 subscriber growth expected after 2023 losses, with ARPU improving and churn stabilizing.
- **Cash Flow Strength**: $68 million operating cash flow (35% YoY growth) supports 5.3% dividend hike and balance sheet flexibility.
- **Political Tailwind**: $14-$16 million political revenue in 2024, up to 45% YoY, targeting key Senate and Presidential races.
- **Programmatic Momentum**: Low double-digit growth in 2023, Q2 2024 pacing stronger than Q1.

**【CEO Summary Section】**
- **Revenue Performance**: Full-year net revenue of $454.2 million (excluding political) was the second highest in company history, with digital revenue accounting for 51% of total net revenue and 55% of adjusted operating income.
- **Digital Growth**: Digital advertising net revenue grew 7% YoY to $232.5 million, driven by programmatic and local solutions. National digital advertising faced challenges due to algorithm changes but showed sequential improvement in Q2 2024.
- **Market Share**: Broadcast advertising market share increased since 2019, with Q4 2023 net revenue down 3.6% YoY (excluding political) due to national ad weakness.
- **Dividend Increase**: A 5.3% dividend hike to $0.1975 per share, reflecting confidence in cash flow generation.
- **TSI Recovery**: Expecting subscriber growth in Q2 2024, with ARPU improving and customer churn stabilizing after 2023 losses.

**【CFO Financial Commentary】**
- **Cash Flow**: Operating cash flow of $68 million (up 35% YoY) supported a high-yielding dividend and balance sheet strength (net leverage 4.4x).
- **Impairments**: Non-cash FCC license impairments of $90.6 million (2023) due to rising interest rates, with no impact on cash or operations.
- **2024 Guidance**: Revenue $440-$460 million (YoY -3% to +1%), adjusted EBITDA $100-$110 million. Political revenue expected at $14-$16 million.
- **Segment Performance**: Broadcast profit margins stable at 25%, Ignite digital margins 31%, TSI margins 28% despite revenue decline.

**【Q&A Highlights】**
- **TSI Turnaround**: Q1 2024 subscriber losses halved vs. Q4 2023, with Q2 expected to return to growth. ARPU improvement driven by new CRM tools and in-house solutions.
- **Programmatic Growth**: Low double-digit YoY growth in 2023, outpacing industry averages, with Q2 2024 pacing stronger than Q1.
- **Political Outlook**: $14-$16 million political revenue in 2024, up to 45% YoY, with focus on key states (MI, AZ, MT) for Senate and Presidential races.
- **Cookie Impact**: First-party data advantage mitigates cookie deprecation risks, with owned-and-operated sites outperforming national peers.
- **Balance Sheet**: $61 million cash on hand, $27.1 million bond buybacks, and plans to refinance 2026 debt.


TSQ

TSQ fundamentals

Earnings Call

You can ask Aime