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MARKETS / BALCAO / CMLS
BALCAO · RADIO BROADCASTING STATIONS · SMALL CAP

Cumulus Media Inc. CMLS

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$741.7M
▼ 10.3% YoY
$-200.7M
$-41.6M
In brief

What this company does

Cumulus Media operates 393 owned-and-operated radio stations across 84 markets, distributes nationally-syndicated sports, news, talk, and entertainment programming to more than 7,800 affiliated stations through Westwood One, and produces podcasts through the Cumulus Podcast Network. The company's stations and network affiliates reach an aggregate monthly audience of a quarter billion listeners. As of December 31, 2025, the company's workforce comprised 2,862 people, 2,078 of whom were employed full-time. The company generates revenue across three revenue streams, the first being broadcast radio revenue. Most of the company's revenue is generated through the sale of terrestrial broadcast radio spot advertising time to local, regional, and national clients. Digital advertising revenue is generated from the sale of advertising and promotional opportunities across the company's podcasting network, streaming audio network, websites, mobile applications, and from the sale of digital marketing services. Cumulus Media is a Delaware corporation organized in 2018 and the successor to a Delaware corporation with the same name that was organized in 2002.

Written from the business description in Cumulus Media Inc's annual report to the U.S. Securities and Exchange Commission, filed 10 April 2026. Every sentence was checked against that document before publication.

Growth
USD 741.7M
Revenue, FY2025 · full 16-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.7 · Net income -0.2
0.5B1.0B-0.2B-0.4B200920112013201520172020202220242025
Compound annual growth
−8.0%
−1.9%
−4.4%
+7.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −1.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−27 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -18.6% · Net -27.1%
10%20%-20%-40%200920112013201520172020202220242025
ROE
FY2024 · ROE -193.0%
20%40%-50%-100%-150%200920112013201520172020202220242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -41.6
80M160M-20M-40M200920112013201520172020202220242025
Net buybacks $M Dividends $M
FY2024 · Dividends — · Net buybacks 0.0
20M20092021202220232024

Total assetsUSD 941.0M
EquityUSD -191.5M
CashUSD 82.0M
Gross debtUSD 718.7M
Net debtUSD 636.7M
Current ratio1.54×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201720162015201420132012201120102009
Revenue $B0.70.80.81.00.90.81.11.11.11.21.31.01.00.50.20.3
Operating income $B−0.1−0.2−0.00.10.1−0.00.2−0.2−0.4−0.50.20.20.10.10.1−0.1
EBITDA $B−0.1−0.2−0.00.10.10.00.2−0.2−0.4−0.40.20.20.10.10.1·
Income tax $B−0.0−0.00.00.00.0−0.00.0−0.2−0.0−0.00.0−0.1−0.0−0.00.0−0.0
Net income $B−0.2−0.3−0.10.00.0−0.10.1−0.2−0.5−0.50.00.2−0.00.10.0−0.1
Free cash flow $B−0.0−0.00.00.00.00.00.10.10.00.10.10.10.20.10.00.0
EPS, diluted $−11.55−16.79−6.830.810.83−2.943.02··−2.340.050.75−0.330.800.68−3.13
Dividend / sh $················
Payout %················
ROE %·−193.0−33.93.94.2−14.014.5··−196.02.246.4−12.2···
Shares out B0.020.020.020.020.020.02··········

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 1 failures · 1 divergences in 63 reconciliationsAUDITED

Reconciled in 15 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 31 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures1 divergent
ActivityRadio Broadcasting Stations
Listed onOTC market
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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