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Cumulus Media (CMLS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Cumulus Media (CMLS) Q2 2026 earnings results →
Q2 2026 Revenue down 10% year over year to $168M · 5¢ of every $1 of revenue lost · operating margin 1.4%
Cumulus Media made $168M in Q2 2026 (-10% Y/Y): Total broadcast radio revenue $103M, Digital $38.7M, Other $26.3M. Operating margin 1.4%, net loss $9.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
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What changed this quarter
Revenue was $167.9M in Q2 2026, down 10% year over year and up 2% from the previous quarter. Spot was the largest line at 49% of revenue. Spot lost $9.7M year over year (down 11%), 54% of the total change.
Operating profit was $2.3M, a 1.4% margin (down 0.6 points year over year). Total costs fell 9% while revenue fell 10%. The quarter ended with a net loss of $9.2M, narrower than the previous quarter's $16.9M loss. Net interest and other expense of $10.7M was the main reason.
Operating cash flow was $6.6M. Non-cash charges added back $12.3M of depreciation and amortization. Working capital and other items added $3.5M. Capital expenditures of $3.2M left free cash flow of $3.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $168M | -10% | 1.4% | −$9.2M | $6.6M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $164M | -12% | -16.1% | −$16.9M | −$19.6M |
| Q4 2025 | 10-K | Apr 10, 2026 | $188M | -14% | -65.3% | −$135M | −$13.2M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $180M | -12% | -2.4% | −$20.4M | −$659K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $186M | -9% | 2.0% | −$12.8M | −$3.7M |
| Q1 2025 | 10-Q | May 1, 2025 | $187M | -6% | -7.9% | −$32.4M | −$3.8M |
| Q4 2024 | 10-K | Feb 27, 2025 | $219M | -1% | -103.5% | −$231M | $17.0M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Cumulus Media
Cumulus Media is an audio-first media company delivering premium content to a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 384 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, US Soccer, AP News, and the Academy of Country Music Awards, across more than 7,800 affiliated stations through Westwood One, a leading national audio network; and inspires listeners through the Cumulus Podcast Network, an established and influential platform for original podcasts that are smart, entertaining, and thought-provoking.
In its own words, from its 8-K, filed Aug 14, 2026.
Cumulus Media against its Radio Broadcasting Stations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -10% against the peers' median -0.3%. Operating margin: 1.4% against the peers' median 2.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CMLS Cumulus Media | Q2 2026 | $168M | -10% | 1.4% |
| SIRI Sirius XM Holdings | Q3 2026 | $2.2B | -0.3% | 22.2% |
| IHRT iHeartMedia | Q2 2026 | $977M | +5% | 3.6% |
| TSQ Townsquare Media | Q3 2026 | $111M | +4% | 5.0% |
| UONE Urban One | Q2 2026 | $85.8M | -6% | -13.1% |
| BBGI Beasley Broadcast Group | Q2 2026 | $44.1M | -17% | 3.0% |
| MDIA Mediaco Holding | Q2 2026 | $34.0M | +9% | -14.4% |
| SGA Saga Communications | Q2 2026 | $26.4M | -6% | 2.4% |
| TMGI Transglobal Management Group | Q1 FY27 | $96K | +703% | -409.6% |
Source: Cumulus Media 10-Q on SEC EDGAR · CIK 1058623 · Radio Broadcasting Stations
More on CMLS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results