Townsquare Media, Inc. (TSQ), a community-focused digital media, digital marketing solutions, and radio company, on Monday posted a first quarter profit versus a year-ago loss after a higher income tax benefit offset lower revenue.
For the first quarter, net income was $2.96 million or $0.16 per share compared to a loss of $1.51 million or $0.12 per share last year.
On the other hand, adjusted net loss grew to $2.74 million or $0.16 per share from $0.87 million or $0.05 per share a year ago.
Adjusted EBITDA came in at $16.38 million compared to $18.14 million in the previous year.
Income tax benefit advanced to $15.67 million from $3.04 million in the prior year.
Quarterly revenue declined to $96.78 million from $98.68 million a year earlier.
Looking ahead to the second quarter, the company expects net revenue to be between $114 million and $116 million, and Adjusted EBITDA is expected to be between $24 million and $25 million.
For the fiscal 2026, net revenue is reaffirmed to be between $420 million and $440 million, and Adjusted EBITDA is reaffirmed to be between $87 million and $93 million.
In pre-market activity on the NYSE, shares of Townsquare were up 1.53 percent, changing hands at $6.65, after closing Friday's regular session 0.76 percent lower.
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