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Midas Edge

BEASLEY BROADCAST GROUP INC

For the period ended Mar 31, 2025. Filed May 8, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 8, 2025

BBGI$5.89+5.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 1. Condensed Consolidated Financial Statements

Notes to Condensed Consolidated Financial Statements.6
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations.12
Item 3.Quantitative and Qualitative Disclosures About Market Risk.17
Item 4.Controls and Procedures.17
PART II OTHER INFORMATION
Item 1.Legal Proceedings.18
Item 1A.Risk Factors.18
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.18
Item 3.Defaults Upon Senior Securities.18
Item 4.Mine Safety Disclosures.18
Item 5.Other Information.18
Item 6.Exhibits.19
SIGNATURES20

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

December 31,March 31,
20242025
ASSETS
Current assets:
Cash and cash equivalents$13,772,720$12,235,452
Accounts receivable, less allowance for credit losses of $1,698,285 in 2024 and $1,688,852 in 202551,551,94546,305,154
Prepaid expenses3,139,6782,329,962
Other current assets825,7941,782,136
Total current assets69,290,13762,652,704
Property and equipment, net47,000,97845,157,137
Operating lease right-of-use assets33,233,71431,670,132
FCC licenses392,259,831392,259,831
Other intangibles, net2,082,0982,025,283
Other assets5,340,0675,494,311
Total assets$549,206,825$539,259,398
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable$21,037,797$17,955,288
Operating lease liabilities8,688,8748,482,362
Other current liabilities23,260,49623,779,464
Current portion of long-term debt—4,295,000
Total current liabilities52,987,16754,512,114
Due to related parties24,30716,629
Long-term debt247,117,717240,938,876
Operating lease liabilities31,402,42430,287,215
Deferred tax liabilities63,747,93762,177,598
Other long-term liabilities6,707,5666,707,566
Total liabilities401,987,118394,639,998
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued——
Class A common stock, $0.001 par value; 150,000,000 shares authorized; 1,152,366 issued and 957,876 outstanding in 2024; 1,155,769 issued and 960,059 outstanding in 202518,17318,176
Class B common stock, $0.001 par value; 75,000,000 shares authorized; 833,137 issued and outstanding in 2024 and 202516,66216,662
Additional paid-in capital156,595,835156,694,451
Treasury stock, Class A common stock; 194,490 shares in 2024; 195,710 shares in 2025(29,337,880)(29,346,985)
Retained earnings19,155,66816,465,847
Accumulated other comprehensive income771,249771,249
Total stockholders' equity147,219,707144,619,400
Total liabilities and stockholders' equity$549,206,825$539,259,398

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME (LOSS) (UNAUDITED)

Three Months Ended March 31,
20242025
Net revenue$54,380,346$48,912,465
Operating expenses:
Operating expenses (including stock-based compensation of $22,238 in 2024 and $28,168 in 2025 and excluding depreciation and amortization shown separately below)49,240,99845,241,261
Corporate expenses (including stock-based compensation of $131,123 in 2024 and $70,451 in 2025)4,407,8324,019,462
Depreciation and amortization1,834,6021,652,331
Total operating expenses55,483,43250,913,054
Operating loss(1,103,086)(2,000,589)
Non-operating income (expense):
Interest expense(5,587,308)(3,380,642)
Gain on sale of investment6,026,776—
Other income, net270,0051,097,485
Loss before income taxes(393,613)(4,283,746)
Income tax benefit(410,230)(1,567,727)
Income (loss) before equity in earnings of unconsolidated affiliates16,617(2,716,019)
Equity in earnings of unconsolidated affiliates, net of tax(8,647)26,198
Net income (loss)7,970(2,689,821)
Net income (loss) per Class A and Class B common share(1):
Basic and diluted$0.01$(1.50)
Weighted-average shares outstanding(1):
Basic1,516,2901,792,029
Diluted1,523,3361,792,029

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Three Months Ended March 31,
20242025
Cash flows from operating activities:
Net income (loss)$7,970$(2,689,821)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation153,36198,619
Provision for credit losses217,742(9,433)
Depreciation and amortization1,834,6021,652,331
Amortization of premium and debt issuance costs335,639(1,883,841)
Gain on disposition—(1,698,228)
Gain on sale of investment(6,026,776)—
Deferred income taxes(989,766)(1,570,339)
Equity in earnings of unconsolidated affiliates8,647(26,198)
Change in operating assets and liabilities:
Accounts receivable6,697,4965,256,224
Prepaid expenses(88,149)809,716
Other assets241,709(928,464)
Accounts payable(2,584,825)(3,082,509)
Other liabilities(3,884,195)746,272
Other operating activities39,661(148,834)
Net cash used in operating activities(4,036,884)(3,474,505)
Cash flows from investing activities:
Capital expenditures(947,724)(800,165)
Proceeds from disposition—2,746,507
Proceeds from sale of investment6,026,776—
Net cash provided by investing activities5,079,0521,946,342
Cash flows from financing activities:
Purchase of treasury stock(12,636)(9,105)
Net cash used in financing activities(12,636)(9,105)
Net increase (decrease) in cash and cash equivalents1,029,532(1,537,268)
Cash and cash equivalents at beginning of period26,733,92113,772,720
Cash and cash equivalents at end of period$27,763,453$12,235,452
Cash paid for interest$11,514,377$6,592,232
Cash paid for income taxes$84,450$112,450
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.