Beasley Broadcast Group, Inc. · NASDAQ:BBGI
Beasley Broadcast — FY 2024 Earnings Presentation
25 slides from Beasley Broadcast's earnings presentation, Mar 20, 2025
Slide 1: FY 2024 Earnings Presentation
FY 2024 EARNINGS P R E S E N TAT I O N MARCH 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements and Non-GAAP Financial Measures This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States (“GAAP”), including, without limitation, EBITDA, Statio
Slide 3: Overview
1. WHO WE ARE 2. REVENUE MIX 3. OUR OPERATING SEGMENTS 4. FINANCIAL PERFORMANCE 5. APPENDIX jasd OVERVIEW
Slide 4: 1. Who We Are
1. WHO WE ARE
Slide 5: An Empire Rooted in Radio, Beasley Offers Advertisers a Single Destination
AN EMPIRE ROOTED IN RADIO, BEASLEY OFFERS ADVERTISERS A SINGLE DESTINATION FOR MULTI- PLATFORM SOLUTIONS THAT DRIVE RESULTS 2025: BEYOND BEASLEY'S FUTURE FOUNDED BY COMPANY IPO ACQUIRED EXPANDED WILL BE DRIVEN BY VIA NASDAQ GREATER MEDIA, DIGITAL GEORGE BEASLEY IN ADDING 20 CAPABILITIES OPERATIONAL
Slide 6: Audience reach and media strategy
AM / FM STATIONS PODCASTS STREAMING 14.8M 3.2M 2.6M AVG WEEKLY AUDIENCE SIZE AVG MONTHLY DOWNLOADS AVG UNIQUE STREAMERS OPERATING IN OUR MEDIA STRATEGY 10 BRINGING TOGETHER THE REACH OF U.S. MARKETS RADIO AND THE PRECISION OF DIGITAL TO DELIVER SMARTER, FULL- SOCIAL MEDIA FUNNEL CAMPAIGNS THAT DRIVE
Slide 7: Our Market
OUR MARKET WHILE CORE LOCAL RADIO REVENUE REMAINS STABLE IN A MATURE MARKET, THE INCREASING CONTRIBUTION FROM DIGITAL HIGHLIGHTS A CRITICAL GROWTH OPPORTUNITY. BEASLEY IS CAPITALIZING ON THIS TREND BY BUILDING A SCALABLE DIGITAL BUSINESS THAT INTEGRATES SEAMLESSLY WITH OUR AUDIO BRANDS—OFFERING ADVE
Slide 8: 2024 Overview
2024 OVERVIEW 2024 WAS A YEAR OF TRANSFORMATION, LAYING THE FOUNDATION FOR GREATER EFFICIENCY AND LONG-TERM GROWTH IN THE YEARS AHEAD NEW LEADERSHIP DEBT REFINANCING STREAMLINING OPERATIONS LAUREN BURROWS COLEMAN CHIEF FINANCIAL OFFICER With BBGI Since: Nov. 2024 2028 $20M+ DAVE SNYDER EXTENDED DEBT
Slide 9: 2. Revenue Mix
2. REVENUE MIX
Slide 10: Beasley's Segments Provide Full-Service, Innovative Advertising Solutions
BEASLEY’S 2 SEGMENTS PROVIDE FULL-SERVICE, INNOVATIVE ADVERTISING SOLUTIONS, AND CONNECTION WITH NEW AUDIENCES FY 2024 KEY METRICS AUDIO DIGITAL 0.2% BEASLEY’S FOUNDATIONAL ENABLING CUSTOMERS TO BUSINESS DIGITIZE THEIR BUSINESS SAME STATION NET REVENUE INCREASE1, YOY 19.4% $55.8M $11.5M DIGITAL REVE
Slide 11: Our Advertisers
OUR ADVERTISERS AN INTEGRATED DIGITAL AND AUDIO STRATEGY FY 2024 REVENUE BY CLIENT TYPE THAT PROVIDES ADVERTISERS WITH TARGETED, SCALABLE MEDIA SOLUTIONS. 13% LOCAL ADVERTISERS 6% BEASLEY’S MULTIMEDIA PLATFORM ENABLES LOCAL BUSINESSES TO MAXIMIZE AUDIENCE REACH 13% NATIONAL ADVERTISERS 68% LARGER CO
Slide 12: Our Revenue Categories
OUR REVENUE CATEGORIES CONSUMER OTHER SERVICES 32% 29% • CONSUMER SERVICES CONTINUES TO BE OUR DOMINANT SEGMENT • WITHIN CONSUMER SERVICES, AUTO ENTERTAINMENT GAMING AND HEALTHCARE WERE 16% 8% OUR STRONGEST CATEGORIES RETAIL 15% NOTE: REFLECTS FY 2024 REVENUE
Slide 13: 3. Our Operating Segments
3. OUR OPERATING SEGMENTS
Slide 14: Audio: Powerful Audio Outreach
POWERFUL AUDIO OUTREACH REACHING 17.5 MILLION LISTENERS WEEKLY ACROSS OUR KEY MARKETS, BEASLEY’S STATIONS CONSISTENTLY DELIVER HIGHLY ENGAGED LOCAL AUDIENCES, REINFORCING OUR VALUE TO 5 ADVERTISERS. PRO SPORTS TEAMS WITH WHOM BEASLEY HAS EXCLUSIVE RIGHTS1 80% BEASLEY RANKS IN THE TOP 3 STATION GROUP
Slide 15: Digital
DIGITAL A DIVERSIFIED PRODUCT AND PLATFORM MIX ALLOWS BEASLEY TO MAXIMIZE DIGITAL MONETIZATION, BALANCING HIGH-MARGIN OWNED & OPERATED (O&O) SALES WITH SCALABLE THIRD-PARTY INVENTORY (TPP) FY 2024 DIGITAL SALES MIX $’S IN MILLIONS 47% 53% TPP O&O NOTE: CLOSURE OF GUARANTEE DIGITAL IN Q3 2024 ACCOUNT
Slide 16: 4. Financial Performance
4. FINANCIAL PERFORMANCE
Slide 17: Beasley Media Group: Tomorrow's Media Company Today
BEASLEY MEDIA GROUP: TOMORROW’S MEDIA COMPANY TODAY FY 2024 PERFORMANCE SUMMARY: TOTAL NET CORPORATE G&A CAPEX REVENUE EXPENSE $240.3M $17.3M $3.0M INCLUDING $1M+ IN SEVERANCE AND OTHER ONE TIME EXPENSES1 EBITDA PER CASH AND CASH SOI INDENTURE EQUIVALENTS $38.5M $32.2M $13.8M 1 NON-GAAP MEASURE – SE
Slide 18: Historical P&L Performance
HISTORICAL P&L PERFORMANCE $’S IN MILLIONS $80.00 PERFORMANCE $70.00 $68.5 $70.7 $72.0 $67.3 COMPARISON $64.8 $65.8 $’S IN MILLIONS $62.9 $63.8 $63.5 $59.6 $60.1 $60.4 $58.2 $60.00 $55.7 $57.8 Q4’24 Q4’23 $54.4 $50.00 $48.2 TOTAL REVENUE $67.3 $65.7 TOTAL $40.00 EXPENSES $53.2 $56.1 $30.00 SOI $14.1
Slide 19: Balance Sheet Items
BALANCE SHEET ITEMS $’S IN MILLIONS FY 2023 FY 2024 CAPEX $4.2 $3.0 CASH AND CASH $26.7 $13.8 EQUIVALENTS PRINCIPAL $267 $220 OUTSTANDING DEBT
Slide 20: Appendix
©) BEASLEY « BROADCAST GROUP APPENDIX
Slide 21: Calculation of SOI
CALCULATION OF SOI Calculation of Station Operating Income 4q 1q 2q 3q 4q 1q 2q 3q 4q 2022 2023 2023 2023 2023 2024 2024 2024 2024 Net revenue $72,027,012 $57,779,120 $63,461,723 $60,119,757 $65,748,658 $54,380,346 $60,435,657 $58,190,116 $67,285,492 Operating expenses (58,088,223) (50,653,655) (51,
Slide 22: Reconciliation of Net Income/Loss to SOI
RECONCILIATION OF NET INCOME/LOSS TO SOI Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 4q 1q 2q 3q 4q 1q 2q 3q 4q 2022 2023 2023 2023 2023 2024 2024 2024 2024 Net loss attributable to BBGI stockholders (17,869,178) (3,536,566) (10,430,629) (67,536,837) 6,58
Slide 23: Reconciliation of Net Income (Loss) to Adj EBITDA
RECONCILIATION OF NET INCOME (LOSS) TO ADJ EBITDA Reconciliation of Net Income (Loss) to Adjusted EBITDA Three months ended Year ended December 31, December 31, 2024 2023 2024 2023 Net income (loss) $ (2,168,604) $ 6,383,894 $ (5,997,230) $ (75,120,138) Interest expense 3,460,070 6,843,853 21,233,02
Slide 24: Reconciliation of Net Income (Loss) to EBITDA per Indenture
RECONCILIATION OF NET INCOME (LOSS) TO EBITDA PER INDENTURE Reconciliation of Net Income (Loss) to Adjusted EBITDA Three months ended Year ended December 31, December 31, 2024 2023 2024 2023 Net income (loss) $ (2,168,604) $ 6,383,894 $ (5,997,230) $ (75,120,138) Interest expense 3,460,070 6,843,853
Slide 25: Calculation of Same-Station Net Revenue
CALCULATION OF SAME-STATION NET REVENUE Year ended December 31, 2024 2023 Net revenue $240,291,611 $247,109,258 Atlanta (965) (364,416) Wilmington (55,117) (3,076,405) Guarantee (1,250,588) (3,194,528) Outlaws (204,890) (2,210,094) Same Station Net Revenue 238,780,051 238,263,815
Beasley Broadcast Group — FY 2024 Earnings Presentation on 6ix