Entravision Communications Corporation Reports Third Quarter 2025 Results

Entravision Communications Corporation Reports Third Quarter 2025 Results November 4, 2025 Entravision Communications Corporation (NYSE: EVC), a media and advertising technology company, today announced financial results for its third quarter ended September 30, 2025. “Our Media segment net revenue declined 26% in the third quarter of 2025 year-over-year, primarily due to lower political revenue and weaker revenue from national television and radio advertisers. Average monthly advertisers and revenue per average monthly advertiser for our local media operations in the third quarter of 2025 were flat year-over-year,” said Michael Christenson, Chief Executive Officer. “Net revenue for our Advertising Technology & Services ("ATS") segment increased 104% in the third quarter of 2025 year-over-year. Investments in the AI capabilities of our platform and increased sales capacity enabled ATS to increase monthly active advertisers and revenue per monthly active advertiser.” Mr. Christenson continued, “We repaid $5 million on our bank term loan in the third quarter of 2025, bringing our total reduction to $15 million so far for the year. We are committed to reducing our debt and maintaining a strong balance sheet.” Highlights Entravision currently reports its operating results for two segments. The Media segment provides video, audio and digital marketing services to local and national advertisers in the U.S. The Advertising Technology & Services segment provides programmatic advertising technology and services to advertisers and mobile app developers on a global basis. Consolidated net revenue increased 24% for third quarter 2025 compared to third quarter 2024.Media segment net revenue decreased 26% for third quarter 2025 compared to third quarter 2024, primarily due to decreases in broadcast advertising revenue, retransmission consent revenue, and spectrum usage rights revenue, partially offset by an increase in digital advertising revenue.Advertising Technology & Services segment net revenue increased 104% for third quarter 2025 compared to third quarter 2024, primarily due to increases in advertising revenue including advertising spend per client.Segment operating profit was $6.2 million for third quarter 2025, a decrease of 55% compared to third quarter 2024.Media segment operating loss was $3.5 million for third quarter 2025, compared to operating profit of $11.7 million in third quarter 2024.Advertising Technology & Services segment operating profit was $9.8 million for third quarter 2025, an increase of 378% compared to third quarter 2024.Corporate expenses decreased 9% for third quarter 2025 compared to third quarter 2024, primarily due to expense reductions in rent and professional services.During third quarter 2025 the Company's management began to implement an ongoing organization design plan intended to support revenue growth and reduce expenses, primarily in the Company’s media operations. As a result, the Company recorded a restructuring charge of $3.2 million in the third quarter of 2025. Key components of this plan in the media segment include a reduction of approximately 5% of the Company's media segment workforce, primarily in back-office roles, and the abandonment of certain leased facilities, with impacted employees transitioning to remote work, and the shutdown of certain legacy international operations within the advertising technology & services segment.The company entered into a strategic amendment to its credit agreement on July 15, 2025, intended to accelerate debt reduction and provide additional financial stability and flexibility.The company made a $5 million scheduled debt payment and paid a dividend of $4.5 million in third quarter 2025.The company had $66.4 million in cash and cash equivalents and marketable securities as of September 30, 2025, compared to $100.6 million as of December 31, 2024. Net cash provided by operating activities was $8.3 million for third quarter 2025.Entravision’s board of directors approved a quarterly cash dividend to shareholders of $0.05 per share on the company's Class A and Class U common stock. The dividend is payable on December 31, 2025 to shareholders of record as of the close of business on December 16, 2025. Notice of Conference Call Entravision will host a webinar to discuss its third quarter 2025 results on Tuesday, November 4, 2025 at 5:00 p.m. Eastern Time. The webinar may be accessed on company’s Investor Relations website at investor.entravision.com or via webinar registration. The webinar will also be archived on the company’s Investor Relations website under the Events section. About Entravision Communications Corporation Entravision is a media and advertising technology company. In the U.S., we provide video, audio and digital marketing services to local and national advertisers through a portfolio of television and radio stations and digital advertising services that target Latino audiences. Our advertising technology business provides programmatic advertising technology and services to advertisers and app developers on a global basis. Entravision is the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under the ticker: EVC. Learn more about us at entravision.com. Forward-Looking Statements This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission. Entravision Communications Corporation Segment Results (Unaudited) (In thousands) Three-Month Period Nine-Month Period Ended September 30, % Ended September 30, % 2025 2024 Change 2025 2024 Change Net revenue Media $ 44,505 $ 59,802 (26 )% $ 130,895 $ 154,801 (15 )% Advertising Technology & Services 76,125 37,354 104 % 182,321 103,185 77 % Consolidated 120,630 97,156 24 % 313,216 257,986 21 % Cost of revenue Media 5,015 4,881 3 % 12,932 11,888 9 % Advertising Technology & Services 45,971 21,920 110 % 109,536 61,995 77 % Consolidated 50,986 26,801 90 % 122,468 73,883 66 % Direct operating expenses Media 28,596 29,193 (2 )% 81,941 82,405 (1 )% Advertising Technology & Services 12,651 6,424 97 % 32,520 16,769 94 % Consolidated 41,247 35,617 16 % 114,461 99,174 15 % Selling, general and administrative expenses Media 11,598 10,860 7 % 33,409 30,600 9 % Advertising Technology & Services 7,430 6,252 19 % 17,578 15,209 16 % Consolidated 19,028 17,112 11 % 50,987 45,809 11 % Depreciation and amortization Media 2,808 3,165 (11 )% 8,385 9,756 (14 )% Advertising Technology & Services 322 717 (55 )% 1,249 3,293 (62 )% Consolidated 3,130 3,882 (19 )% 9,634 13,049 (26 )% Segment operating profit (loss) Media (3,512 ) 11,703 * (5,772 ) 20,152 * Advertising Technology & Services 9,751 2,041 378 % 21,438 5,919 262 % Consolidated 6,239 13,744 (55 )% 15,666 26,071 (40 )% Corporate expenses 6,340 6,930 (9 )% 20,503 29,989 (32 )% Change in fair value of contingent consideration - (650 ) (100 )% - (630 ) (100 )% Impairment charge 5,705 - * 29,378 - * Loss on lease abandonment - - * 25,191 - * Restructuring costs 3,188 - * 3,188 - * Foreign currency (gain) loss 92 (121 ) * 110 120 (8 )% Operating income (loss) (9,086 ) 7,585 * (62,704 ) (3,408 ) 1,740 % Interest expense $ (3,803 ) $ (4,087 ) (7 )% $ (11,503 ) $ (12,648 ) (9 )% Interest income 574 646 (11 )% 1,798 1,801 (0 )% Dividend income 1 - * 2 10 (80 )% Realized gain (loss) on marketable securities 2 (1 ) * 6 (110 ) * Gain (loss) on debt extinguishment (176 ) - * (214 ) (91 ) 135 % Income (loss) before income taxes (12,488 ) 4,143 * (72,615 ) (14,446 ) 403 % Capital expenditures Media $ 1,154 $ 1,020 $ 5,484 $ 4,546 Advertising Technology & Services 33 31 87 298 Consolidated $ 1,187 $ 1,051 $ 5,571 $ 4,844 Entravision Communications Corporation Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) Three-Month Period Nine-Month Period Ended September 30, Ended September 30, 2025 2024 2025 2024 Net revenue $ 120,630 $ 97,156 $ 313,216 $ 257,986 Expenses: Cost of revenue 50,986 26,801 122,468 73,883 Direct operating expenses 41,247 35,617 114,461 99,174 Selling, general and administrative expenses 19,028 17,112 50,987 45,809 Corporate expenses 6,340 6,930 20,503 29,989 Depreciation and amortization 3,130 3,882 9,634 13,049 Change in fair value of contingent consideration — (650 ) — (630 ) Impairment charge 5,705 — 29,378 — Loss on lease abandonment — — 25,191 — Restructuring costs 3,188 — 3,188 — Foreign currency (gain) loss 92 (121 ) 110 120 Total expenses 129,716 89,571 375,920 261,394 Operating income (loss) (9,086 ) 7,585 (62,704 ) (3,408 ) Interest expense (3,803 ) (4,087 ) (11,503 ) (12,648 ) Interest income 574 646 1,798 1,801 Dividend income 1 — 2 10 Realized gain (loss) on marketable securities 2 (1 ) 6 (110 ) Gain (loss) on debt extinguishment (176 ) — (214 ) (91 ) Income (loss) before income taxes (12,488 ) 4,143 (72,615 ) (14,446 ) Income tax benefit (expense) 2,829 (14,984 ) 11,681 (173 ) Net income (loss) from continuing operations (9,659 ) (10,841 ) (60,934 ) (14,619 ) Net income (loss) from discontinued operations, net of tax - (1,139 ) (28 ) (77,931 ) Net income (loss) attributable to common stockholders $ (9,659 ) $ (11,980 ) $ (60,962 ) $ (92,550 ) Basic and diluted earnings per share: Net income (loss) per share from continuing operations, basic and diluted $ (0.11 ) $ (0.12 ) $ (0.67 ) $ (0.16 ) Net income (loss) per share from discontinued operations, basic and diluted $ - $ (0.01 ) $ (0.00 ) $ (0.87 ) Net income (loss) per share attributable to common stockholders, basic and diluted $ (0.11 ) $ (0.13 ) $ (0.67 ) $ (1.03 ) Cash dividends declared per common share, basic and diluted $ 0.05 $ 0.05 $ 0.15 $ 0.15 Weighted average common shares outstanding, basic and diluted 90,976,288 89,987,110 90,976,288 89,776,075 Entravision Communications Corporation Consolidated Balance Sheets (Unaudited) (In thousands) September 30, December 31, 2025 2024 ASSETS Current assets Cash and cash equivalents $ 61,755 $ 95,914 Marketable securities 4,683 4,694 Restricted cash 795 786 Trade receivables, net of allowance for doubtful accounts 88,985 68,319 Prepaid expenses and other current assets 22,671 16,587 Assets held for sale 5,597 — Total current assets 184,486 186,300 Property and equipment, net 45,911 60,616 Intangible assets subject to amortization, net 3,050 4,417 Intangible assets not subject to amortization 149,276 177,276 Goodwill 7,352 7,352 Deferred income taxes 2,924 2,650 Operating leases right of use asset 18,018 40,762 Other assets 3,586 7,905 Total assets $ 414,603 $ 487,278 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Current maturities of long-term debt $ 20,000 $ - Accounts payable and accrued expenses 78,643 53,882 Operating lease liabilities 7,494 7,744 Total current liabilities 106,137 61,626 Long-term debt, less current maturities, net of unamortized debt issuance costs 152,040 186,958 Long-term operating lease liabilities 38,942 42,101 Other long-term liabilities 12,941 12,168 Deferred income taxes 26,378 38,405 Total liabilities 336,438 341,258 Stockholders' equity Class A common stock 8 8 Class U common stock 1 1 Additional paid-in capital 808,598 815,532 Accumulated deficit (729,682 ) (668,720 ) Accumulated other comprehensive income (loss) (760 ) (801 ) Total stockholders' equity 78,165 146,020 Total liabilities and equity $ 414,603 $ 487,278 Entravision Communications Corporation Consolidated Statements of Cash Flows (Unaudited) (In thousands) Three-Month Period Nine-Month Period Ended September 30, Ended September 30, 2025 2024 2025 2024 Cash flows from operating activities: Net income (loss) attributable to common stockholders $ (9,659 ) $ (11,980 ) $ (60,962 ) $ (92,550 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 3,130 3,882 9,634 17,007 Impairment charge 5,705 — 29,378 49,438 Loss on lease abandonment — — 25,191 — Deferred income taxes (5,421 ) (3,500 ) (12,300 ) (3,286 ) Non-cash interest 415 63 995 223 Amortization of syndication contracts 107 112 328 339 Payments on syndication contracts (70 ) (108 ) (290 ) (337 ) Non-cash stock-based compensation 2,804 3,688 8,102 12,422 (Gain) loss on marketable securities (2 ) 1 (6 ) 110 (Gain) loss on disposal of property and equipment 7 23 13 206 Loss (gain) on the sale of businesses — 125 — 45,139 (Gain) loss on debt extinguishment 176 — 214 91 Change in fair value of contingent consideration — (650 ) — (13,198 ) Net income (loss) attributable to redeemable noncontrolling interest - discontinued operations — — — (2,779 ) Changes in assets and liabilities: (Increase) decrease in accounts receivable (10,572 ) 1,025 (20,553 ) 10,611 (Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets 3,706 17,662 2,358 (1,928 ) Increase (decrease) in accounts payable, accrued expenses and other liabilities 17,951 508 18,759 40,414 Net cash provided by (used in) operating activities 8,277 10,851 861 61,922 Cash flows from investing activities: Proceeds from sale of businesses, net of cash divested — — — (42,967 ) Purchases of property and equipment (1,216 ) (1,552 ) (6,020 ) (6,289 ) Purchases of marketable securities (574 ) — (1,539 ) — Proceeds from sale of marketable securities 672 362 1,619 10,381 Proceeds from loan receivable — — — 10,748 Net cash provided by (used in) investing activities (1,118 ) (1,190 ) (5,940 ) (28,127 ) Cash flows from financing activities: Tax payments related to shares withheld for share-based compensation plans — — — (27 ) Payments on debt (5,000 ) — (15,000 ) (20,275 ) Dividends paid (4,549 ) (4,499 ) (13,647 ) (13,471 ) Distributions to noncontrolling interest — — — (1,078 ) Payment of contingent consideration — — — (14,300 ) Principal payments under finance lease obligation (34 ) (36 ) (99 ) (110 ) Payments for debt issuance costs (325 ) — (325 ) — Net cash provided by (used in) financing activities (9,908 ) (4,535 ) (29,071 ) (49,261 ) Effect of exchange rates on cash, cash equivalents and restricted cash — — — (2 ) Net increase (decrease) in cash, cash equivalents and restricted cash (2,749 ) 5,126 (34,150 ) (15,468 ) Cash, cash equivalents and restricted cash: Beginning 65,299 85,915 96,700 106,509 Ending $ 62,550 $ 91,041 $ 62,550 $ 91,041 Source: Entravision