Townsquare Media (NYSE:TSQ) announced its fourth-quarter and full-year 2025 financial results on March 16, 2026, marking a significant structural pivot for the Purchase, New York-based company.
For the first time in its history, digital operations represented the majority of the business, accounting for 55% of total net revenue and 56% of total segment profit for the full year.
The company reported full-year net revenue of $427.4 million, a 5.2% decline compared to 2024.
Adjusted EBITDA followed a similar trend, falling 12.2% to $88.1 million.
Chief Executive Officer Bill Wilson noted that while the broadcast segment faced ongoing pressure—with revenue down 12.6% for the year—the company’s "Digital First" strategy allowed it to outperform traditional media peers and gain market share in mid-sized U.S. markets.
The digital advertising division, Townsquare Ignite, and the subscription marketing arm, Townsquare Interactive, provided a critical buffer against the volatility of the radio landscape.
Financially, Townsquare prioritized balance sheet health and shareholder returns throughout 2025.
The company generated $30.6 million in cash flow from operations, which was utilized to reduce total debt by $22.6 million following a successful refinancing in February 2025.
This move secured a new five-year, $490 million credit agreement, extending the company’s maturity profile to 2030.
Net leverage at year-end was approximately 5.1x, with management reiterating its commitment to further deleveraging in the coming year.
Reflecting confidence in its long-term cash flow profile, the Board of Directors approved a quarterly cash dividend of $0.20 per share, payable on May 4, 2026, to shareholders of record as of April 27.
For 2026, the company issued a stable outlook, projecting net revenue between $420 million and $440 million and adjusted EBITDA in the range of $87 million to $93 million.