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Cumulus Media cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$3.4M in Q2 2026 · −$43.0M over twelve months

Operating cash flow$6.6M
Capital spending−$3.2M
Free cash flow+$3.4M

Analysis

In Q2 2026, Cumulus Media generated $6.6M of operating cash flow and spent $3.2M on capital projects, leaving free cash flow of $3.4M. That is $12.7M more than in Q2 2025 (−$9.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$26.8M; the largest uses were operating cash flow ($26.8M), capital spending ($16.3M), other financing ($7.4M); besides operations, cash came from other investing ($12.8M), net borrowing (+) / repaid (−) ($2.0M); the cash balance fell by $35.6M.

Operating cash flow was $6.6M against net income of −$9.2M. The largest differences: depreciation & amortization +$12.3M, receivables +$9.4M, prepaid and other assets −$4.0M.

Free cash flow

Cumulus Media: free cash flow by quarterCumulus Media: free cash flow by quarter$598KQ3 2024$13.4MQ4 2024−$9.4MQ1 2025−$9.2MQ2 2025−$5.1MQ3 2025−$17.9MQ4 2025−$23.5MQ1 2026$3.4MQ2 2026
Operating cash flow less capital spending.
Cumulus Media: operating cash flow against capital spendingCumulus Media: operating cash flow against capital spendingOperating cash flowCapital spending$3.9M$3.3MQ3 2024$17.0M$3.6MQ4 2024−$3.8M$5.5MQ1 2025−$3.7M$5.5MQ2 2025−$659K$4.4MQ3 2025−$13.2M$4.8MQ4 2025−$19.6M$3.9MQ1 2026$6.6M$3.2MQ2 2026
Latest (Q2 2026): Operating cash flow $6.6M, Capital spending $3.2M.

Capital allocation, year by year

Cumulus Media: where the cash came from (up) and went (down), by fiscal yearCumulus Media: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY2021: Operating cash flow $68.5MFY2021: Net borrowing −$43.4MFY2021: Capital spending −$29.1M$68.5MFY2021FY2022: Operating cash flow $78.5MFY2022: Net borrowing −$64.9MFY2022: Capital spending −$31.1MFY2022: Buybacks −$31.9M$78.5MFY2022FY2023: Operating cash flow $31.7MFY2023: Net borrowing −$26.7MFY2023: Capital spending −$24.8MFY2023: Buybacks −$7.8M$31.7MFY2023FY2024: Operating cash flow −$3.1MFY2024: Net borrowing −$1.4MFY2024: Asset sales $14.8MFY2024: Capital spending −$19.5M$14.8MFY2024FY2025: Operating cash flow −$21.3MFY2025: Net borrowing $53.9MFY2025: Capital spending −$20.2M$53.9MFY2025
Over these 5 years operating cash flow totalled $154M; the largest uses were net borrowing ($136M) and capital spending ($125M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$61.1M
Debt$1.4B
Net debt$1.3B
Due within a year$23.9M
Cash runway17 months

Cumulus Media is burning cash: its operations consume cash, a free cash flow of −$43.0M a year at the current rate against $61.1M of cash and investments: a runway of about 17 months; $23.9M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Cumulus Media: debt maturities by year (FY2025)Cumulus Media: debt maturities by year (FY2025)$23.9MYear 1$673MYear 4
Principal due in each year as disclosed in the annual report, against $61.1M of cash and investments now.

Where the cash came from and went

Cumulus Media: sources (+) and uses (−) of cash, Q2 2026Cumulus Media: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$6.6MCash drawn (+) / kept (−)−$3.5MCapital spending−$3.2MOther investing$467KOther financing−$386K
Cumulus Media: sources (+) and uses (−) of cash, TTM to Q2 2026Cumulus Media: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$35.6MOperating cash flow−$26.8MCapital spending−$16.3MOther investing$12.8MOther financing−$7.4MNet borrowing (+) / repaid (−)$2.0MTaxes on employees’ shares−$24K

From profit to cash

Cumulus Media: net income to operating cash flow, Q2 2026Cumulus Media: net income to operating cash flow, Q2 2026Net income−$9.2MDepreciation & amortization$12.3MStock-based pay−$63KDeferred taxes$765KGains on disposals−$82KReceivables$9.4MPayables$215KPrepaid and other assets−$4.0MOther liabilities−$43KOperating cash flow$6.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 2026$6.6M−$3.2M−$3.5M$3.4M
Q1 2026−$19.6M−$3.9M$24.4M−$23.5M
Q4 2025−$13.2M−$4.8M$8.4M−$17.9M
Q3 2025−$659K−$4.4M$6.3M−$5.1M
Q2 2025−$3.7M−$5.5M−$44.1M−$9.2M
Q1 2025−$3.8M−$5.5M$11.1M−$9.4M
Q4 2024$17.0M−$3.6M−$11.7M$13.4M
Q3 2024$3.9M−$3.3M$1.3M$598K

Cumulus Media: income statement and cash flow

Cumulus Media, Q2 2026: revenue $168M (-10% year over year), operating margin 1.4%. The chart follows the revenue to costs, profit and cash.

Cumulus Media: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.