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Cumulus Media (CMLS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
Cumulus Media (CMLS) reported revenue of $164M for the first quarter 2026 (Q1 2026), -12% from a year earlier and -13% from the quarter before. Operating margin was -16.1%, net loss $16.9M (10.3% of revenue).
Cumulus Media, Q1 2026: revenue $164M (-12% year over year), operating margin -16.1%, net loss $16.9M, operating cash flow −$19.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $164M | -13% | -12% |
| Operating profit | −$26.4M | — | — |
| Net earnings | −$16.9M | — | — |
| Operating cash flow | −$19.6M | — | — |
What changed
Revenue was $164.4M in Q1 2026, down 12% year over year and down 13% from the previous quarter. Spot was the largest line at 41% of revenue. Spot lost $13.2M year over year (down 16%), 58% of the total change.
Operating costs exceeded revenue by $26.4M, an operating margin of -16.1%. Total costs fell 6% while revenue fell 12%. The quarter ended with a net loss of $16.9M, narrower than the previous quarter's $135.1M loss. Non-operating items added $10.1M, -62% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$19.6M. Non-cash charges added back $12.3M of depreciation and amortization and $535K of share-based compensation. Working capital and other items used $15.5M. Capital expenditures of $3.9M exceeded it, leaving free cash flow of −$23.5M.
Questions
What was Cumulus Media's revenue in the first quarter 2026?
Cumulus Media (CMLS) reported revenue of $164M for the first quarter 2026 (Q1 2026), -12% from a year earlier and -13% from the quarter before.
Was Cumulus Media profitable in the first quarter 2026?
Operating loss was $26.4M (-16.1% of revenue) and net loss $16.9M.
Source: Cumulus Media 10-Q on SEC EDGAR.