$TSQ reports Q4 FY2022 financial results displaying growth in digital advertising and broadcast advertising.
Mar 9th 2023, 11:06 am
Analyst Summary: Townsquare Media, Inc. reported its financial results for Q4 and FY2022, showcasing an increase in net revenue by 8.2% to $472.9 million. The Subscription Digital Marketing Solutions segment experienced an increase in revenue of 10%, while Digital Advertising revenue grew by 20%, leading Total Digital net revenue to increase 16%. Broadcast Advertising revenue increased by 4% year-over-year. Net leverage declined to an all-time low of 4.0, while the CEO expressed confidence in the company’s capitalization and free cash flow generation, leading to an approved dividend of $0.1875 per share. The company’s position as a Digital First Local Media Company positions it well to weather economic challenges, with a goal to reach $275 million in Adjusted EBITDA by 2024. While management provided forward-looking statements, investors should remain cautious due to various factors beyond the company's control.