v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ (38,849) $ 498
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 9,479 8,973
Amortization of debt discount and deferred financing costs 2,364 2,011
Non-cash lease income (425) (849)
Net deferred taxes and other 2,125 2,901
Allowance for credit losses 1,576 1,869
Stock-based compensation expense 7,033 7,978
Loss on extinguishment of debt 0 1,452
Trade and barter activity, net (1,130) (267)
Impairment of intangible assets 35,231 1,500
Net gain on sales and retirements of assets (318) (5,903)
Amortization of content rights 739 739
Change in content rights liabilities (971) (833)
Other 1,612 1,391
Changes in assets and liabilities    
Accounts receivable (9,561) (860)
Prepaid expenses and other assets (683) (1,762)
Accounts payable 2,342 5,399
Accrued expenses (2,524) (5,892)
Accrued interest (256) (8,422)
Other long-term liabilities (5) 206
Net cash provided by operating activities 7,779 10,129
Cash flows from investing activities:    
Purchases of property and equipment (7,037) (8,265)
Net proceeds from sales of assets 842 6,349
Proceeds from insurance recoveries 54 10
Net cash used in investing activities (6,141) (1,906)
Cash flows from financing activities:    
Repayment and repurchases of 2026 Notes 0 (467,436)
Proceeds from Term Loan 0 446,400
Fixed quarterly repayments of Term Loan (5,875) (2,938)
Deferred financing costs 0 (4,676)
Borrowings under the revolving credit facility 10,000 10,000
Repayment of borrowings under the revolving credit facility 0 (10,000)
Dividend payments (7,240) (6,558)
Proceeds from stock options exercised 381 691
Shares withheld in lieu of employee tax withholding 0 (1,475)
Withholdings for shares issued under the ESPP 174 289
Cash distribution to non-controlling interests (1,569) (1,299)
Repayments of capitalized obligations (833) (705)
Net cash used in financing activities (4,962) (37,707)
Cash and cash equivalents and restricted cash:    
Net decrease in cash, cash equivalents and restricted cash (3,324) (29,484)
Beginning of period 4,817 32,990
End of period 1,493 3,506
Cash payments:    
Interest 20,574 29,340
Income and Franchise taxes 452 785
Supplemental Disclosure of Non-cash Activities:    
Dividends declared, but not paid during the period 4,027 3,519
Accrued financing costs 0 849
Property and equipment acquired in exchange for advertising [1] 865 522
Accrued capital expenditures 106 212
Financed equipment purchases 641 0
Supplemental Disclosure of Cash Flow Information relating to Leases:    
Cash paid for amounts included in the measurement of operating lease liabilities, included in operating cash flows 5,729 6,110
Right-of-use assets obtained in exchange for operating lease obligations 2,582 1,899
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 1,170 3,183
Restricted cash 323 323
Cash, cash equivalents, and restricted cash $ 1,493 $ 3,506
[1] Represents total advertising services provided by the Company in exchange for property and equipment during each of the six months ended June 30, 2026 and 2025, respectively.