Beasley Broadcast Group, Inc. · NASDAQ:BBGI
Beasley Broadcast — Q1 2025 Earnings Presentation
30 slides from Beasley Broadcast's earnings presentation, May 7, 2025
Slide 1: Q1 2025 Earnings Presentation
Q1 2025 EARNINGS P R E S E N TAT I O N MAY 20 25
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 jasd 5. APPENDIX OVERVIEW
Slide 4: 1. Who We Are
1. WHO WE ARE
Slide 5: An Empire Rooted in Radio
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 GEORGE BEASLEY IN VIA NASDAQ GREATER MEDIA, ADDING 20 DIGITAL CAPABILITIES OPERATIONAL
Slide 6: Audience reach and media strategy
AM / FM STATIONS PODCASTS STREAMING 15.0M 3.1M 2.6M AVG WEEKLY AUDIENCE SIZE AVG MONTHLY DOWNLOADS AVG UNIQUE STREAMERS OPERATING IN 12 OUR MEDIA STRATEGY 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: 2. Revenue Mix
2. REVENUE MIX
Slide 9: Beasley's Two Segments Provide Full-Service Advertising Solutions
BEASLEY’S TWO SEGMENTS PROVIDE FULL-SERVICE, INNOVATIVE ADVERTISING SOLUTIONS, AND CONNECTION WITH NEW AUDIENCES Q1 2025 AUDIO DIGITAL KEY BEASLEY’S FOUNDATIONAL ENABLING CUSTOMERS TO BUSINESS METRICS DIGITIZE THEIR BUSINESS 22% DIGITAL REVENUE $38.2M $10.8M AS % OF TOTAL NET REVENUE Q1 2025 REVENUE
Slide 10: Our Advertisers
OUR ADVERTISERS AN INTEGRATED DIGITAL AND AUDIO STRATEGY THAT PROVIDES ADVERTISERS WITH TARGETED, SCALABLE MEDIA SOLUTIONS. LOCAL ADVERTISERS BEASLEY’S MULTIMEDIA PLATFORM ENABLES LOCAL BUSINESSES TO MAXIMIZE AUDIENCE REACH NATIONAL ADVERTISERS LARGER COMPANIES BENEFIT FROM BEASLEY’S BRANDS AND PRES
Slide 11: Our Revenue Categories
OUR REVENUE CATEGORIES 27% 30% • CONSUMER SERVICES CONTINUES TO BE OUR DOMINANT SEGMENT 10% 19% • WITHIN CONSUMER SERVICES, 15% GAMING AND HEALTHCARE WERE OUR STRONGEST CATEGORIES CONSUMER SERVICES ENTERTAINMENT RETAIL AUTO OTHER NOTE: REFLECTS Q1 2025 REVENUE
Slide 12: 3. Our Operating Segments
3. OUR OPERATING SEGMENTS
Slide 13: Audio
POWERFUL AUDIO OUTREACH REACHING NEARLY 18 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 70%2 BEASLEY RANKS IN THE TOP 3 STATION
Slide 14: 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) Q1 2025 DIGITAL SALES MIX $’S IN MILLIONS 49% 51% TPP O&O NOTE: CLOSURE OF GUARANTEE DIGITAL IN Q3 2024 ACCOUNT
Slide 15: 4. Financial Performance
4. FINANCIAL PERFORMANCE
Slide 16: Q1 2025 Performance Summary
BEASLEY MEDIA GROUP: TOMORROW’S MEDIA COMPANY TODAY Q1 2025 PERFORMANCE SUMMARY: TOTAL NET CORPORATE G&A CAPEX REVENUE EXPENSE $48.9M $4.0M $0.8M INCLUDING $0.5M IN SEVERANCE AND OTHER ONE TIME EXPENSES1 ADJ EBITDA1 CASH AND CASH SOI1 EQUIVALENTS $3.7M $1.1M $12.2M 1 NON-GAAP MEASURE – SEE RECONCLIA
Slide 17: Historical P&L Performance
HISTORICAL P&L PERFORMANCE $’S IN MILLIONS PERFORMANCE COMPARISON $80.00 $72.0 $70.7 $70.00 $67.3 $’S IN MILLIONS $64.8 $65.8 $62.9 $63.8 $63.5 $60.00 $59.6 $57.8 $60.1 $60.4 $58.2 Q1’25 Q1’24 $55.7 $54.4 $50.00 $48.2 $48.9 TOTAL REVENUE $48.9 $54.4 TOTAL $40.00 EXPENSES $45.2 $49.2 $30.00 SOI* $3.7
Slide 18: Slide 17 $4.0M $1.5M
Slide 17 0 $4.0M Lauren Burrows Coleman, 2025-05-06T22:15:07.534 1 $1.5M Lauren Burrows Coleman, 2025-05-06T22:16:47.807
Slide 19: Balance Sheet Items
BALANCE SHEET ITEMS $’S IN MILLIONS 0 Q1 2025 Q4 2024 WORKING CAPITAL $8.1 $16.3 CASH AND CASH $12.2 $13.8 EQUIVALENTS PRINCIPAL $220 $220 OUTSTANDING DEBT
Slide 20: Slide 18
Slide 18 0 Just an FYI that I updated this slide to compare vs Q4 2024 like we have in the earnings release Lauren Burrows Coleman, 2025-05-06T22:34:49.719
Slide 21: Appendix
BEASLEY » BROADCAST GROUP APPENDIX
Slide 22: Calculation of SOI FY 2021-2022
CALCULATION OF SOI FY 2021-2022 Calculation of Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 2021 2021 2021 2021 2022 2022 2022 2022 Net revenue $48,212,040 $59,574,705 $62,902,935 $70,736,628 $55,720,268 $64,810,450 $63,823,288 $72,027,012 Operating expenses (42,967,871) (48,494,420) (51,186,064
Slide 23: Calculation of SOI FY 2023-2025
CALCULATION OF SOI FY 2023-2025 Calculation of Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 1q 2023 2023 2023 2023 2024 2024 2024 2024 2025 Net revenue $57,779,120 $63,461,723 $60,119,757 $65,748,658 $54,380,346 $60,435,657 $58,190,116 $67,285,492 $48,912,465 Operating expenses (50,653,655) (51,
Slide 24: Reconciliation of Net Loss to SOI FY 2021-2022
RECONCILIATION OF NET LOSS TO SOI FY 2021 - 2022 Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 2021 2021 2021 2021 2022 2022 2022 2022 Net loss attributable to BBGI stockholders (10,555,392) 187,694 (1,620,323) 10,582,176 (3,590,930)
Slide 25: Reconciliation of Net Loss to SOI FY 2023-2025
RECONCILIATION OF NET LOSS TO SOI FY 2023 - 2025 Reconciliation of Net Loss Attributable to BBGI Stockholders to Station Operating Income 1q 2q 3q 4q 1q 2q 3q 4q 1q 2023 2023 2023 2023 2024 2024 2024 2024 2025 Net loss attributable to BBGI stockholders (3,536,566) (10,430,629) (67,536,837) 6,580,317
Slide 26: Reconciliation of Net Income (Loss) to Adj EBITDA and EBITDA per Indenture
RECONCILIATION OF NET INCOME (LOSS) TO ADJ EBITDA AND EBITDA PER INDENTURE Three Months Ended, March 31 2025 2024 Net income (loss) -2,689,821 7,970 Interest expense 3,380,642 5,587,308 Income tax benefit -1,567,727 -410,230 Depreciation and amortization 1,652,331 1,834,602 EBITDA 775,425 7,019,650
Slide 27: Slide 24
Slide 24 0 this number is limited to 10% of the EBITDA prior to this adjustment. I think this should be $150,701 based on your backup file Lauren Burrows Coleman, 2025-05-06T22:23:05.257
Slide 28: Calculation of Same-Station Net Revenue and Operating Expenses
CALCULATION OF SAME-STATION NET REVENUE AND OPERATING EXPENSES Three months ended March 31, 2025 2024 Net revenue $48,912,465 $54,380,346 Atlanta - Wilmington (55,117) Guarantee Digital (744,691) Outlaws (99,191) Same Station Net Revenue $48,912,465 $53,481,347 Three months ended March 31, 2025 2024
Slide 29: Calculation of Same-Station Digital Revenue and Digital Operating Expenses
CALCULATION OF SAME-STATION DIGITAL REVENUE AND DIGITAL OPERATING EXPENSES Three months ended, March 31 2025 2024 Digital Net Revenue $10,759,095 $10,952,219 Outlaws $- $99,191 Guarantee $- $744,691 Discontinued Digital Operations $- $843,882 Same Station Digital $10,759,095 $10,108,337 Three months
Slide 30: Calculation of Same-Station Audio Revenue and Audio Operating Expenses
CALCULATION OF SAME-STATION AUDIO REVENUE AND AUDIO OPERATING EXPENSES Three months ended, March 31 2025 2024 Audio Net Revenue $38,153,370 $43,428,127 Atlanta $- $- Wilmington $- $(55,117) Same Station Audio Net Revenue $38,153,370 $43,373,010 Three months ended, March 31 2025 2024 Audio Operating
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