Beasley Broadcast Group, Inc. (Nasdaq: BBGI) reported financial results for the three-month period ended September 30, 2026, in a press release dated November 13, 2026. The company reported net revenue of $42.8 million for the third quarter of 2026, a decrease of 16.1% compared to the same period in 2025. On a same-station basis, revenue declined by 10.2%.
For the nine months ended September 30, 2026, net revenue totaled $129.5 million, down from $152.9 million in the prior year. The company reported an operating loss of $12.8 million for the third quarter of 2026, compared to an operating loss of $0.5 million in the prior year. Net income for the third quarter was a loss of $12.1 million, or a loss of $6.52 per diluted share, compared to a net loss of $3.6 million, or a loss of $1.97 per diluted share, in the prior year.
Adjusted EBITDA for the third quarter of 2026 was $1.3 million, a decrease from $3.9 million in the prior year. Digital revenue for the quarter was $9.8 million, down 24% year-over-year and down 12% on a same-station basis. Digital revenue accounted for 23% of net revenue. The digital segment operating margin was 32%, up from 21% in the third quarter of 2025.
Local revenue, including digital packages sold locally, accounted for 76% of net revenue and declined 6% year-over-year. Local direct revenue increased 7% on a same-station basis, partially offset by weakness in traditional national and local agency advertising. Revenue from new business accounted for 14% of net revenue.
Beasley Broadcast Group also reported actions taken to strengthen its balance sheet. In September, the company raised gross proceeds of approximately $4.6 million through a registered direct offering and concurrent private placement. Subsequent to quarter-end, the company completed the sale of two radio stations and two parcels of real estate, generating more than $10 million in net proceeds. These transactions reduced the outstanding principal amount of first-lien notes to approximately $3.6 million.
