Filing Flows › Saga Communications (SGA) › Q3 2025
Saga Communications (SGA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 7, 2025
Saga Communications (SGA) reported revenue of $28.2M for the third quarter 2025 (Q3 2025), -2% from a year earlier and -0.2% from the quarter before. Operating margin was -2.2%, net loss $532K (1.9% of revenue).
Saga Communications, Q3 2025: revenue $28.2M (-2% year over year), operating margin -2.2%, net loss $532K, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.2M | -0.2% | -2% |
| Operating profit | −$626K | -144% | — |
| Net earnings | −$532K | -147% | — |
| Operating cash flow | $3.4M | +345% | -34% |
| Free cash flow | $2.8M | — | -38% |
What changed
Revenue was $28.2M in Q3 2025, down 2% year over year and roughly flat from the previous quarter. Broadcast Advertising Revenue, net was the largest line at 74% of revenue. Broadcast Advertising Revenue, net lost $1.7M year over year (down 7%), 313% of the total change.
Operating costs exceeded revenue by $626K, an operating margin of -2.2%. Total costs grew 6% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $532K, after a profit of $1.1M the previous quarter. Non-operating items added $189K, -43% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.4M (down 34% year over year). Non-cash charges added back $1.3M of depreciation and amortization. Working capital and other items added $2.6M. Capital expenditures of $590K left free cash flow of $2.8M.
Questions
What was Saga Communications' revenue in the third quarter 2025?
Saga Communications (SGA) reported revenue of $28.2M for the third quarter 2025 (Q3 2025), -2% from a year earlier and -0.2% from the quarter before.
Was Saga Communications profitable in the third quarter 2025?
Operating loss was $626K (-2.2% of revenue) and net loss $532K.