TSQ · Townsquare Media, Inc.
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AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Townsquare met Q2 net revenue and Adjusted EBITDA guidance, with Digital Advertising revenue accelerating to 11% YoY growth and the company narrowing its full-year guidance to ranges that sit within its original outlook. Town Square Interactive posted record-high segment profit margins, while Broadcast revenue continued to decline and a $26.6M non-cash FCC license impairment drove a GAAP net loss.
- + Digital Advertising revenue accelerated to +11% YoY in Q2, up from +7% in Q1, with management guiding Q3 growth to be even higher.
- + Town Square Interactive delivered record-high segment profit margins of ~38% in Q2, with margins expected to exceed 2025's record for the remainder of 2026.
- + Programmatic digital advertising revenue grew +27% YoY in Q2 and now represents ~70% of year-to-date digital advertising revenue.
- + Full-year 2026 guidance was narrowed to ranges that remain within the original outlook: net revenue $425–$431M and Adjusted EBITDA $87–$90M, with Q3 net revenue guided to low-single-digit YoY growth at the midpoint.
- + Digital now represents ~57% of YTD net revenue and ~59% of YTD segment profit, completing the company's transition to a digital-first local media model.
- − Broadcast Advertising net revenue declined 5.5% YoY in Q2 (7.2% ex-political), continuing the secular decline despite outperforming the industry.
- − Town Square Interactive revenue declined 8.5% YoY in Q2, though it stabilized sequentially at ~$5.7M per month.
- − Q2 GAAP net loss of $41.8M ($2.36/diluted share) was driven by a $26.6M non-cash FCC license impairment and an $18M income tax provision.
- − Net leverage of 5.44x and $462M of debt outstanding remain elevated, with the dividend yielding ~13% based on the current share price.
- − Q2 Adjusted EBITDA declined 6.2% YoY (8.8% ex-political) to $24.8M, with YTD Adjusted EBITDA down 7.6%, reflecting continued margin pressure.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Net revenue excluding political revenue non-GAAP | $114M | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Advertising Agencies — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
TSQ
this stock
Townsquare Media, Inc.
|
$90.79M | -13.6% | -5.2% | — | 1.3% |
|
APP
AppLovin Corp
|
$102.76B | -58.2% | +70.0% | 23.6 | 3.3% |
|
OMC
Omnicom Group Inc.
|
$21.70B | -6.8% | +10.1% | — | 9.1% |
|
TTD
Trade Desk, Inc.
|
$5.92B | -68.4% | +18.5% | 15.0 | 18.8% |
|
WPP
WPP plc
|
$5.61B | +9.4% | — | — | 0.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| TSQ | -3.7% | -21.0% | -31.7% | -5.7% | -13.6% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -4.9% | -21.6% | -43.3% | -7.3% | -27.2% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.