Filing Flows › Cumulus Media (CMLS) › Q2 2026 › vs Q2 2025
Cumulus Media (CMLS) Q2 2026 vs Q2 2025 (year over year)
Cumulus Media's revenue fell $18.1M (-10%) from $186M in Q2 2025 to $168M in Q2 2026. The biggest changes: Total broadcast radio revenue −$15.6M (-13%); Other −$2.4M (-8%); Digital −$120K (-0.3%).
Cumulus Media, Q2 2026: revenue $168M (-10% year over year), operating margin 1.4%, net loss $9.2M, operating cash flow $6.6M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 2.0% | -5.0% | +7.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Spot | $81.4M | $91.2M | −$9.7M | -11% |
| Network | $21.4M | $27.3M | −$5.9M | -22% |
| Total broadcast radio revenue | $103M | $118M | −$15.6M | -13% |
| Digital | $38.7M | $38.8M | −$120K | -0.3% |
| Other | $26.3M | $28.7M | −$2.4M | -8% |
| Revenue | $168M | $186M | −$18.1M | -10% |
| Net loss | $9.2M | $12.8M | −$3.6M | -28% |
| Costs & expenses | $177M | $199M | −$21.7M | -11% |
| Operating costs | $166M | $182M | −$16.8M | -9% |
| Interest & other, net | $10.7M | $16.1M | −$5.5M | -34% |
| Income tax | $881K | $372K | $509K | +137% |
| SG&A | $85.9M | $93.2M | −$7.4M | -8% |
| Other operating costs | $79.7M | $89.1M | −$9.4M | -11% |
| Operating cash sources | $15.8M | $8.5M | $7.3M | +85% |
| Depreciation & amortization | $12.3M | $14.0M | −$1.7M | -12% |
| Working capital & other | $3.5M | −$5.5M | $9.0M | — |
| Net loss absorbed | $9.2M | $12.8M | −$3.6M | -28% |
| Operating cash flow | $6.6M | −$3.7M | $10.3M | — |
| Free cash flow (OCF − capex) | $3.4M | −$9.2M | $12.7M | — |
| Capital expenditures | $3.2M | $5.5M | −$2.3M | -42% |
Questions
How much did Cumulus Media's revenue grow year over year in Q2 2026?
Cumulus Media's revenue fell $18.1M (-10%) from $186M in Q2 2025 to $168M in Q2 2026.
What drove Cumulus Media's revenue change in Q2 2026?
Total broadcast radio revenue −$15.6M (-13%); Other −$2.4M (-8%); Digital −$120K (-0.3%).