Filing Flows › Townsquare Media (TSQ) › Q3 2025
Townsquare Media (TSQ) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Townsquare Media (TSQ) reported revenue of $107M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -8% from the quarter before. Operating margin was 5.6%, net loss $5.5M (5.1% of revenue).
Townsquare Media, Q3 2025: revenue $107M (-7% year over year), operating margin 5.6%, net loss $5.5M, operating cash flow $7.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $107M | -8% | -7% |
| Operating profit | $5.9M | -72% | — |
| Net earnings | −$5.5M | -451% | — |
| Operating cash flow | $7.9M | -23% | -20% |
| Free cash flow | $4.3M | -32% | -10% |
What changed
Revenue was $106.8M in Q3 2025, down 7% year over year and down 8% from the previous quarter. Broadcast Advertising was the largest line at 44% of revenue. Broadcast Advertising lost $7.5M year over year (down 14%), 88% of the total change.
Gross margin was 26.2%, down 1.1 points from a year earlier. Operating profit was $5.9M, a 5.6% margin (down 7.5 points year over year). Operating expenses grew 34% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+55%). The quarter ended with a net loss of $5.5M, after a profit of $2.0M the previous quarter. Net interest and other expense of $12.5M was the main reason.
Operating cash flow was $7.9M (down 20% year over year). Non-cash charges added back $4.6M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items added $5.7M. Capital expenditures of $3.6M left free cash flow of $4.3M.
Questions
What was Townsquare Media's revenue in the third quarter 2025?
Townsquare Media (TSQ) reported revenue of $107M for the third quarter 2025 (Q3 2025), -7% from a year earlier and -8% from the quarter before.
Was Townsquare Media profitable in the third quarter 2025?
Operating profit was $5.9M (5.6% of revenue) and net loss $5.5M.
Source: Townsquare Media 10-Q on SEC EDGAR.