Entravision Communications Corp 8-K, filed Mar 6, 2025

Entravision Communications Corp (EVC)

8-K 2025-03-06 For: 2025-03-06

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Added on April 10, 2026

About this 8-K

Entravision Communications Corp filed this 8-K on March 6, 2025.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Delaware	001-15997	95-4783236
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1 Estrella Way
Burbank, California		91504
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock	EVC	The New York Stock Exchange


99.1	Press release issued by Entravision Communications Corporation on March 6, 2025 announcing its results of operations for the three- and twelve-month periods ended December 31, 2024.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)


			ENTRAVISION COMMUNICATIONS CORPORATION

Date:	March 6, 2025	By:	/s/ Michael J. Christenson
			Michael J. Christenson Chief Executive Officer


Mark Boelke		Roy Nir
Chief Financial Officer		VP, Financial Reporting and Investor Relations
Entravision		Entravision
310-447-3870		310-447-3870
ir@entravision.com		ir@entravision.com


	Three-Month Ended									Year Ended
	December 31,									December 31,
	2024			2023			% Change			2024			2023			% Change
Net Revenue
Media	$	67,260		$	51,654			30	%	$	222,061		$	196,268			13	%
Advertising Technology & Services		39,702			26,602			49	%		142,887			100,775			42	%
Consolidated		106,962			78,256			37	%		364,948			297,043			23	%
Cost of revenue
Media	$	4,838		$	3,291			47	%	$	16,726		$	10,952			53	%
Advertising Technology & Services		23,475			16,013			47	%		85,470			66,262			29	%
Consolidated		28,313			19,304			47	%		102,196			77,214			32	%
Direct operating expenses
Media		28,583			24,921			15	%		110,988			96,925			15	%
Advertising Technology & Services		8,505			4,150			105	%		25,274			16,306			55	%
Consolidated		37,088			29,071			28	%		136,262			113,231			20	%
Selling, general and administrative expenses
Media		12,159			8,961			36	%		42,759			36,000			19	%
Advertising Technology & Services		4,900			3,437			43	%		20,109			13,761			46	%
Consolidated		17,059			12,398			38	%		62,868			49,761			26	%
Depreciation and amortization
Media		3,135			3,013			4	%		12,891			11,975			8	%
Advertising Technology & Services		637			1,431			(55	)%		3,930			4,417			(11	)%
Consolidated		3,772			4,444			(15	)%		16,821			16,392			3	%
Segment operating profit (loss)
Media		18,545			11,468			62	%		38,697			40,416			(4	)%
Advertising Technology & Services		2,185			1,571			39	%		8,104			29		*
Consolidated		20,730			13,039			59	%		46,801			40,445			16	%
Corporate expenses		7,509			14,458			(48	)%		37,498			50,294			(25	)%
Change in fair value of contingent consideration		1			200			(100	)%		(629	)		821		*
Impairment charge		61,220			12,278			399	%		61,220			13,267			361	%
Foreign currency (gain) loss		572			676			(15	)%		692			1,950			(65	)%
Other operating (gain) loss		—			609			(100	)%		—			609			(100	)%
Operating income (loss)		(48,572	)		(15,182	)		220	%		(51,980	)		(26,496	)		96	%
Interest expense		(3,824	)		(4,369	)		(12	)%		(16,472	)		(16,833	)		(2	)%
Interest income		657			1,009			(35	)%		2,458			3,405			(28	)%
Dividend income		—			3			(100	)%		10			35			(71	)%
Realized gain (loss) on marketable securities		—			1			(100	)%		(110	)		(93	)		18	%
Gain (loss) on debt extinguishment		—			—		*				(91	)		(1,556	)		(94	)%
Income (loss) before income taxes from continuing operations	$	(51,739	)	$	(18,538	)		179	%	$	(66,185	)	$	(41,538	)		59	%

Capital expenditures
Media	$	2,543		$	6,148					$	7,089		$	21,208
Advertising Technology & Services		74			1,043						372			3,643
Consolidated	$	2,617		$	7,191					$	7,461		$	24,851


	Three-Month Period						Twelve-Month Period
	Ended December 31,						Ended December 31,
	2024			2023			2024			2023
Net revenue	$	106,962		$	78,256		$	364,948		$	297,043
Expenses:
Cost of revenue		28,313			19,304			102,196			77,214
Direct operating expenses		37,088			29,071			136,262			113,231
Selling, general and administrative expenses		17,059			12,398			62,868			49,761
Corporate expenses		7,509			14,458			37,498			50,294
Depreciation and amortization		3,772			4,444			16,821			16,392
Change in fair value of contingent consideration		1			200			(629	)		821
Impairment charge		61,220			12,278			61,220			13,267
Foreign currency (gain) loss		572			676			692			1,950
Other operating (gain) loss		—			609			—			609
		155,534			93,438			416,928			323,539
Operating income (loss)		(48,572	)		(15,182	)		(51,980	)		(26,496	)
Interest expense		(3,824	)		(4,369	)		(16,472	)		(16,833	)
Interest income		657			1,009			2,458			3,405
Dividend income		—			3			10			35
Realized gain (loss) on marketable securities		—			1			(110	)		(93	)
Gain (loss) on debt extinguishment		—			—			(91	)		(1,556	)
Income before income taxes		(51,739	)		(18,538	)		(66,185	)		(41,538	)
Income tax (expense) benefit		(3,932	)		5,337			(4,105	)		8,392
Net income (loss) from continuing operations		(55,671	)		(13,201	)		(70,290	)		(33,146	)
Income (loss) from discontinued operations		(687	)		(5,007	)		(78,618	)		17,709
Net income (loss) attributable to common stockholders	$	(56,358	)	$	(18,208	)	$	(148,908	)	$	(15,437	)

Basic and diluted earnings (loss) per share:
Net income (loss) per share attributable to common stockholders, basic and diluted	$	(0.62	)	$	(0.21	)	$	(1.66	)	$	(0.18	)

Cash dividends declared per common share, basic and diluted	$	0.05		$	0.05		$	0.20		$	0.20

Weighted average common shares outstanding, basic and diluted		90,175,742			88,193,240			89,876,538			87,901,938


	December 31,		December 31,
	2024		2023
ASSETS
Current assets
Cash and cash equivalents	$	95,914	$	67,398
Marketable securities		4,694		13,172
Restricted Cash		786		770
Trade receivables, net of allowance for doubtful accounts		68,319		70,082
Assets held for sale		—		301
Prepaid expenses and other current assets		16,587		16,863
Current assets of discontinued operations		—		217,269
Total current assets		186,300		385,855
Property and equipment, net		60,616		66,932
Intangible assets subject to amortization, net		4,417		7,100
Intangible assets not subject to amortization		177,276		195,174
Goodwill		7,352		50,674
Deferred income taxes		2,650		265
Operating leases right of use asset		40,762		42,868
Other assets		7,905		21,223
Noncurrent assets of discontinued operations		—		95,855
Total assets	$	487,278	$	865,946


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Current maturities of long-term debt	$	-	$	8,750
Accounts payable and accrued expenses		53,882		47,776
Operating lease liabilities		7,744		6,748
Current liabilities of discontinued operations		—		208,779
Total current liabilities		61,626		272,053
Long-term debt, less current maturities, net of unamortized debt issuance costs		186,958		197,884
Long-term operating lease liabilities		42,101		45,178
Other long-term liabilities		12,168		4,624
Deferred income taxes		38,405		46,849
Noncurrent liabilities of discontinued operations		—		33,072
Total liabilities		341,258		599,660

Redeemable noncontrolling interest - discontinued operations		—		43,758


	Three-Month Period						Twelve-Month Period
	Ended December 31,						Ended December 31,
	2024			2023			2024			2023
Cash flows from operating activities:
Net income (loss)	$	(56,358	)	$	(18,208	)	$	(148,908	)	$	(15,437	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		3,772			7,671			20,779			28,007
Impairment charge		61,220			12,278			110,658			13,267
Deferred income taxes		(6,995	)		(10,796	)		(10,281	)		(10,965	)
Non-cash interest		61			91			284			355
Amortization of syndication contracts		111			113			450			471
Payments on syndication contracts		(114	)		(114	)		(451	)		(480	)
Non-cash stock-based compensation		1,426			6,645			13,848			23,698
(Gain) loss on marketable securities		—			(1	)		110			93
(Gain) loss on disposal of property and equipment		71			748			277			737
Loss (gain) on the sale of businesses		48			—			45,187			—
(Gain) loss on debt extinguishment		—			—			91			1,556
Change in fair value of contingent consideration		—			6,400			(13,198	)		(2,539	)
Net income (loss) attributable to redeemable noncontrolling interest - discontinued operations		—			157			(2,779	)		158
Net income (loss) attributable to noncontrolling interest - discontinued operations		—			—			—			(342	)
Changes in assets and liabilities, net of businesses acquired and disposed of:
(Increase) decrease in trade receivables, net		(519	)		(25,508	)		10,092			(9,247	)
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets		11,806			15,025			9,878			7,826
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(1,746	)		11,578			38,668			38,038
Net cash provided by operating activities		12,783			6,079			74,705			75,196
Cash flows from investing activities:
Proceeds from sale of assets/business, net of cash divested		2,486			175			(40,481	)		258
Purchases of property and equipment		(2,174	)		(7,446	)		(8,463	)		(27,327	)
Purchase of businesses, net of cash acquired		—			—			—			(6,930	)
Purchases of marketable securities		(2,303	)		—			(2,303	)		(11,355	)
Proceeds from sale of marketable securities		408			5,242			10,789			43,335
Proceeds from loan receivable		2,888			—			13,636			—
Purchases of investments		—			—			—			(300	)
Issuance of loan receivable		—			—			—			(13,636	)
Net cash provided by (used in) investing activities		1,305			(2,029	)		(26,822	)		(15,955	)
Cash flows from financing activities:
Proceeds from stock option exercises		—			—			—			554
Tax payments related to shares withheld for share-based compensation plans		(2,537	)		(3,899	)		(2,564	)		(4,057	)
Payments on debt		—			(1,250	)		(20,275	)		(215,745	)