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Townsquare Media (TSQ) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Townsquare Media (TSQ) Q3 2026 earnings results →

Q3 2026 Revenue up 4% year over year to $111M · 4¢ of every $1 of revenue lost · operating margin 5.0%

Townsquare Media made $111M in Q3 2026 (+4% Y/Y): Broadcast Advertising $47.2M, Digital Advertising $45.3M, Subscription Digital Marketing Solutions $17.1M. Operating margin 5.0%, net loss $4.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$111M

Year over year+4%

Operating margin5.0%

Net earnings−$4.0M

Operating cash flow$5.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $110.9M in Q3 2026, up 4% year over year and down 4% from the previous quarter. Broadcast Advertising was the largest line at 43% of revenue. Digital Advertising added $5.1M year over year (up 13%), 122% of the total change. Subscription Digital Marketing Solutions declined 8%.

Gross margin was 25.8%, down 0.4 points from Q3 2025. Operating profit was $5.5M, a 5.0% margin (down 0.6 points year over year). Operating profit fell $432K even though revenue rose $4.2M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 5% against revenue growth of 4%. The quarter ended with a net loss of $4.0M, narrower than the previous quarter's $41.8M loss. Net interest and other expense of $11.4M was the main reason.

Operating cash flow was $5.1M (down 35% year over year). Non-cash charges added back $4.9M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $2.9M left free cash flow of $2.3M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Nov 4, 2026	$111M	+4%	5.0%	−$4.0M	$5.1M
Q2 2026	10-Q	Aug 6, 2026	$115M	-0.1%	-10.7%	−$41.8M	$3.6M
Q1 2026	10-Q	May 11, 2026	$96.8M	-2%	-1.3%	$3.0M	$4.2M
Q4 2025	10-K	Mar 16, 2026	$106M	-10%	9.5%	−$4.8M	$12.6M
Q3 2025	10-Q	Nov 10, 2025	$107M	-7%	5.6%	−$5.5M	$7.9M
Q2 2025	10-Q	Aug 6, 2025	$115M	-2%	18.2%	$1.6M	$10.2M
Q1 2025	10-Q	May 8, 2025	$98.7M	-1%	7.2%	−$1.5M	−$66K

Charts

Latest (Q3 2026): Y/Y +4%, Q/Q -4%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income −$4.0M, Operating cash flow $5.1M.

-13.2% since FY2020: buybacks shrank the count.

Cash $4.8M, short-term investments —, long-term debt $433M at 2025-12-31.

Radio Broadcasting Stations; dot size is quarterly revenue; dashed lines are the industry's medians.