| Summary of Reportable Segment Information |
Reportable segment information for the three months ended March 31, 2026 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
Net revenue |
|
$ |
31,884,452 |
|
|
$ |
10,704,283 |
|
|
$ |
— |
|
|
$ |
42,588,735 |
|
Operating expenses |
|
|
33,126,917 |
|
|
|
9,043,714 |
|
|
|
— |
|
|
|
42,170,631 |
|
Corporate expenses |
|
|
— |
|
|
|
— |
|
|
|
3,527,570 |
|
|
|
3,527,570 |
|
Depreciation and amortization |
|
|
1,399,274 |
|
|
|
— |
|
|
|
258,017 |
|
|
|
1,657,291 |
|
Gain on dispositions |
|
|
(12,461,477 |
) |
|
|
— |
|
|
|
— |
|
|
|
(12,461,477 |
) |
Operating income (loss) |
|
$ |
9,819,738 |
|
|
$ |
1,660,569 |
|
|
$ |
(3,785,587 |
) |
|
$ |
7,694,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Corporate |
|
|
Total |
|
Capital expenditures |
|
$ |
577,812 |
|
|
$ |
72,966 |
|
|
$ |
650,778 |
|
Reportable segment information for the three months ended March 31, 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
Net revenue |
|
$ |
38,153,370 |
|
|
$ |
10,759,095 |
|
|
$ |
— |
|
|
$ |
48,912,465 |
|
Operating expenses |
|
|
36,394,976 |
|
|
|
8,846,285 |
|
|
|
— |
|
|
|
45,241,261 |
|
Corporate expenses |
|
|
— |
|
|
|
— |
|
|
|
4,019,462 |
|
|
|
4,019,462 |
|
Depreciation and amortization |
|
|
1,493,963 |
|
|
|
31,488 |
|
|
|
126,880 |
|
|
|
1,652,331 |
|
Gain on disposition |
|
|
(1,698,228 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1,698,228 |
) |
Operating income (loss) |
|
$ |
1,962,659 |
|
|
$ |
1,881,322 |
|
|
$ |
(4,146,342 |
) |
|
$ |
(302,361 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
Capital expenditures |
|
$ |
461,592 |
|
|
$ |
1,713 |
|
|
$ |
336,860 |
|
|
$ |
800,165 |
|
Reportable segment information as of March 31, 2026 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Corporate |
|
|
Total |
|
Property and equipment, net |
|
$ |
37,013,712 |
|
|
$ |
4,021,627 |
|
|
$ |
41,035,339 |
|
FCC licenses |
|
|
154,711,200 |
|
|
— |
|
|
|
154,711,200 |
|
Other intangibles, net |
|
|
1,379,628 |
|
|
|
— |
|
|
|
1,379,628 |
|
Reportable segment information as of December 31, 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audio |
|
|
Corporate |
|
|
Total |
|
Property and equipment, net |
|
$ |
38,894,643 |
|
|
$ |
4,206,678 |
|
|
$ |
43,101,321 |
|
FCC licenses |
|
|
154,711,200 |
|
|
— |
|
|
|
154,711,200 |
|
Other intangibles, net |
|
|
1,412,901 |
|
|
|
— |
|
|
|
1,412,901 |
|
Net assets held for sale |
|
|
5,734,281 |
|
|
— |
|
|
|
5,734,281 |
|
|