BURBANK, Calif.–(BUSINESS WIRE)–
Entravision Communications Corporation (NYSE: EVC), a media and advertising technology company, today announced financial results for its first quarter ended March 31, 2026.
“Net revenue in our Media segment increased 4% in first quarter 2026 compared to first quarter 2025 due to an increase in digital advertising revenue and retransmission fees which were partially offset by lower broadcast advertising revenue and revenue from spectrum usage rights. Local advertising revenue increased 6% and national advertising revenue decreased 18%, excluding political revenue,” said Michael Christenson, Chief Executive Officer. “Net revenue in our Advertising and Technology Services segment increased 204% in first quarter 2026 compared to first quarter 2025. The ATS segment had higher monthly active advertisers and higher revenue per monthly active advertiser. These results were driven by the investments in the AI capabilities of our platform and our expanded sales capacity.”
Mr. Christenson continued, “We repaid $5 million on our bank term loan in the first quarter of 2026, and we remain committed to reducing our debt and maintaining a strong balance sheet.”
Highlights
Entravision reports its operating results for two segments. The Media segment provides video, audio and digital marketing services to local and national advertisers in the U.S. The Advertising Technology & Services (“ATS”) segment provides programmatic advertising technology and services to advertisers and mobile app developers on a global basis.
- Consolidated net revenue increased 114% for first quarter 2026 compared to first quarter 2025.
- Media segment net revenue increased 4% for first quarter 2026 compared to first quarter 2025, primarily due to an increase in digital advertising revenue and an increase in retransmission consent revenue, partially offset by a decrease in broadcast advertising revenue and a decrease in spectrum usage rights revenue.
- ATS segment net revenue increased 204% for first quarter 2026 compared to first quarter 2025, primarily due to increases in monthly active advertisers and revenue per monthly active advertiser, which were driven by investments we made in the AI capabilities of our platform and increased sales capacity.
- Segment operating profit was $29.1 million for first quarter 2026, compared to operating profit of $3.9 million for first quarter 2025.
- Media segment operating loss was $5.2 million for first quarter 2026, compared to operating loss of $2.6 million for first quarter 2025.
- ATS segment operating profit was $34.3 million for first quarter 2026, compared to operating profit of $6.5 million for first quarter 2025.
- Corporate expenses decreased 8% for first quarter 2026 compared to first quarter 2025, primarily due to expense reductions in rent and professional services, partially offset by an increase in bonus expense and non-cash stock-based compensation.
- The company made a $5.0 million scheduled debt payment and paid a dividend of $4.6 million in first quarter 2026.
- The company had $71.1 million in cash and cash equivalents and marketable securities and $162.2 million of long-term debt and current maturities of long-term debt as of March 31, 2026.
- Entravision’s board of directors approved a quarterly cash dividend to shareholders of $0.05 per share on the company’s Class A and Class U common stock. The dividend is payable on June 30, 2026 to shareholders of record as of the close of business on June 16, 2026.
Notice of Conference Call
Entravision will host a webinar to discuss its first quarter 2026 results on Tuesday, May 5, 2026 at 4:30 p.m. Eastern Time. The webinar may be accessed on company’s Investor Relations website at investor.entravision.com or via webinar registration. The webinar will also be archived on the company’s Investor Relations website under the Events section.
About Entravision
Entravision is a media and advertising technology company. In the U.S., we provide video, audio and digital marketing services to local and national advertisers through a portfolio of television and radio stations and digital advertising services that target Latino audiences. Our advertising technology business provides programmatic advertising technology and services to advertisers and app developers on a global basis. Entravision is the largest affiliate group of the Univision and UniMás television networks. The term “Entravision” as used in this press release refers to Entravision Communications Corporation. Shares of Entravision Class A Common Stock trade on the NYSE under the ticker: EVC. Learn more about us at entravision.com.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.
|
Entravision Communications Corporation Segment Results (Unaudited) (In thousands) |
||||||||||||
|
Three-Month Period |
||||||||||||
|
Ended March 31, |
% |
|||||||||||
|
2026 |
2025 |
Change |
||||||||||
|
Net revenue |
||||||||||||
|
Media |
$ |
42,421 |
$ |
40,977 |
4 |
% |
||||||
|
Advertising Technology & Services |
154,550 |
50,874 |
204 |
% |
||||||||
|
Consolidated |
196,971 |
91,851 |
114 |
% |
||||||||
|
Cost of revenue |
||||||||||||
|
Media |
5,365 |
3,266 |
64 |
% |
||||||||
|
Advertising Technology & Services |
96,589 |
30,206 |
220 |
% |
||||||||
|
Consolidated |
101,954 |
33,472 |
205 |
% |
||||||||
|
Direct operating expenses |
||||||||||||
|
Media |
28,136 |
26,550 |
6 |
% |
||||||||
|
Advertising Technology & Services |
16,663 |
8,952 |
86 |
% |
||||||||
|
Consolidated |
44,799 |
35,502 |
26 |
% |
||||||||
|
Selling, general and administrative expenses |
||||||||||||
|
Media |
11,352 |
10,805 |
5 |
% |
||||||||
|
Advertising Technology & Services |
6,787 |
4,701 |
44 |
% |
||||||||
|
Consolidated |
18,139 |
15,506 |
17 |
% |
||||||||
|
Depreciation and amortization |
||||||||||||
|
Media |
2,786 |
2,970 |
(6 |
)% |
||||||||
|
Advertising Technology & Services |
205 |
507 |
(60 |
)% |
||||||||
|
Consolidated |
2,991 |
3,477 |
(14 |
)% |
||||||||
|
Segment operating profit (loss) |
||||||||||||
|
Media |
(5,218 |
) |
(2,614 |
) |
100 |
% |
||||||
|
Advertising Technology & Services |
34,306 |
6,508 |
427 |
% |
||||||||
|
Consolidated |
29,088 |
3,894 |
647 |
% |
||||||||
|
Corporate expenses |
7,173 |
7,788 |
(8 |
)% |
||||||||
|
Impairment charge |
– |
23,673 |
(100 |
)% |
||||||||
|
Loss on lease abandonment |
– |
25,191 |
(100 |
)% |
||||||||
|
Restructuring costs |
983 |
– |
* |
|||||||||
|
Foreign currency (gain) loss |
243 |
12 |
1,925 |
% |
||||||||
|
Operating income (loss) |
20,689 |
(52,770 |
) |
* |
||||||||
|
Interest expense |
$ |
(3,315 |
) |
$ |
(3,663 |
) |
(10 |
)% |
||||
|
Interest income |
358 |
605 |
(41 |
)% |
||||||||
|
Dividend income |
14 |
– |
* |
|||||||||
|
Realized gain (loss) on marketable securities |
8 |
1 |
700 |
% |
||||||||
|
Income (loss) before income taxes |
17,754 |
(55,827 |
) |
* |
||||||||
|
Capital expenditures |
||||||||||||
|
Media |
$ |
2,899 |
$ |
2,360 |
||||||||
|
Advertising Technology & Services |
998 |
24 |
||||||||||
|
Consolidated |
$ |
3,897 |
$ |
2,384 |
||||||||
|
Entravision Communications Corporation Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) |
||||||||
|
Three-Month Period |
||||||||
|
Ended March 31, |
||||||||
|
2026 |
2025 |
|||||||
|
Net revenue |
$ |
196,971 |
$ |
91,851 |
||||
|
Expenses: |
||||||||
|
Cost of revenue |
101,954 |
33,472 |
||||||
|
Direct operating expenses |
44,799 |
35,502 |
||||||
|
Selling, general and administrative expenses |
18,139 |
15,506 |
||||||
|
Corporate expenses |
7,173 |
7,788 |
||||||
|
Depreciation and amortization |
2,991 |
3,477 |
||||||
|
Impairment charge |
— |
23,673 |
||||||
|
Loss on lease abandonment |
— |
25,191 |
||||||
|
Restructuring costs |
983 |
— |
||||||
|
Foreign currency (gain) loss |
243 |
12 |
||||||
|
Total expenses |
176,282 |
144,621 |
||||||
|
Operating income (loss) |
20,689 |
(52,770 |
) |
|||||
|
Interest expense |
(3,315 |
) |
(3,663 |
) |
||||
|
Interest income |
358 |
605 |
||||||
|
Dividend income |
14 |
— |
||||||
|
Realized gain (loss) on marketable securities |
8 |
1 |
||||||
|
Income (loss) before income taxes |
17,754 |
(55,827 |
) |
|||||
|
Income tax benefit (expense) |
(5,394 |
) |
8,052 |
|||||
|
Net income (loss) from continuing operations |
12,360 |
(47,775 |
) |
|||||
|
Net income (loss) from discontinued operations, net of tax |
— |
(191 |
) |
|||||
|
Net income (loss) attributable to common stockholders |
$ |
12,360 |
$ |
(47,966 |
) |
|||
|
Basic and diluted earnings per share: |
||||||||
|
Net income (loss) per share from continuing operations, basic and diluted |
$ |
0.13 |
$ |
(0.53 |
) |
|||
|
Net income (loss) per share from discontinued operations, basic and diluted |
$ |
– |
$ |
(0.00 |
) |
|||
|
Net income (loss) per share attributable to common stockholders, basic and diluted |
$ |
0.13 |
$ |
(0.53 |
) |
|||
|
Cash dividends declared per common share, basic and diluted |
$ |
0.05 |
$ |
0.05 |
||||
|
Weighted average common shares outstanding, basic |
91,985,480 |
90,976,288 |
||||||
|
Weighted average common shares outstanding, diluted |
96,420,181 |
90,976,288 |
||||||
|
Entravision Communications Corporation Consolidated Balance Sheets (Unaudited) (In thousands) |
||||||||
|
March 31, |
December 31, |
|||||||
|
2026 |
2025 |
|||||||
|
ASSETS |
||||||||
|
Current assets |
||||||||
|
Cash and cash equivalents |
$ |
68,171 |
$ |
59,439 |
||||
|
Marketable securities |
2,973 |
3,762 |
||||||
|
Restricted cash |
799 |
797 |
||||||
|
Trade receivables, net of allowance for doubtful accounts |
128,102 |
94,912 |
||||||
|
Prepaid expenses and other current assets |
24,876 |
18,974 |
||||||
|
Assets held for sale |
5,415 |
5,597 |
||||||
|
Total current assets |
230,336 |
183,481 |
||||||
|
Property and equipment, net |
46,256 |
44,797 |
||||||
|
Intangible assets subject to amortization, net |
2,139 |
2,593 |
||||||
|
Intangible assets not subject to amortization |
123,275 |
123,275 |
||||||
|
Goodwill |
7,352 |
7,352 |
||||||
|
Deferred income taxes |
3,824 |
3,823 |
||||||
|
Operating leases right of use asset |
20,005 |
18,807 |
||||||
|
Other assets |
3,205 |
3,383 |
||||||
|
Total assets |
$ |
436,392 |
$ |
387,511 |
||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
||||||||
|
Current liabilities |
||||||||
|
Current maturities of long-term debt |
$ |
20,000 |
$ |
20,000 |
||||
|
Accounts payable and accrued expenses |
133,526 |
91,736 |
||||||
|
Operating lease liabilities |
10,512 |
9,737 |
||||||
|
Total current liabilities |
164,038 |
121,473 |
||||||
|
Long-term debt, less current maturities, net of unamortized debt issuance costs |
142,195 |
147,119 |
||||||
|
Long-term operating lease liabilities |
37,404 |
36,775 |
||||||
|
Other long-term liabilities |
13,048 |
12,197 |
||||||
|
Deferred income taxes |
14,744 |
14,505 |
||||||
|
Total liabilities |
371,429 |
332,069 |
||||||
|
Stockholders’ equity |
||||||||
|
Class A common stock |
8 |
8 |
||||||
|
Class U common stock |
1 |
1 |
||||||
|
Additional paid-in capital |
801,268 |
804,075 |
||||||
|
Accumulated deficit |
(735,527 |
) |
(747,887 |
) |
||||
|
Accumulated other comprehensive income (loss) |
(787 |
) |
(755 |
) |
||||
|
Total stockholders’ equity |
64,963 |
55,442 |
||||||
|
Total liabilities and equity |
$ |
436,392 |
$ |
387,511 |
||||
|
Entravision Communications Corporation Consolidated Statements of Cash Flows (Unaudited) (In thousands) |
||||||||
|
Three-Month Period |
||||||||
|
Ended March 31, |
||||||||
|
2026 |
2025 |
|||||||
|
Cash flows from operating activities: |
||||||||
|
Net income (loss) attributable to common stockholders |
$ |
12,360 |
$ |
(47,966 |
) |
|||
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
||||||||
|
Depreciation and amortization |
2,991 |
3,477 |
||||||
|
Impairment charge |
— |
23,673 |
||||||
|
Loss on lease abandonment |
— |
25,191 |
||||||
|
Deferred income taxes |
240 |
(1,467 |
) |
|||||
|
Non-cash interest |
423 |
176 |
||||||
|
Amortization of syndication contracts |
99 |
110 |
||||||
|
Payments on syndication contracts |
(67 |
) |
(109 |
) |
||||
|
Non-cash stock-based compensation |
3,252 |
2,613 |
||||||
|
(Gain) loss on marketable securities |
(8 |
) |
(1 |
) |
||||
|
(Gain) loss on disposal of property and equipment |
87 |
4 |
||||||
|
Changes in assets and liabilities: |
||||||||
|
(Increase) decrease in accounts receivable |
(32,682 |
) |
(10,460 |
) |
||||
|
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets |
(4,476 |
) |
(9,529 |
) |
||||
|
Increase (decrease) in accounts payable, accrued expenses and other liabilities |
39,565 |
(956 |
) |
|||||
|
Net cash provided by (used in) operating activities |
21,784 |
(15,244 |
) |
|||||
|
Cash flows from investing activities: |
||||||||
|
Purchases of property and equipment |
(3,637 |
) |
(2,643 |
) |
||||
|
Purchases of marketable securities |
(2 |
) |
(218 |
) |
||||
|
Proceeds from sale of marketable securities |
760 |
386 |
||||||
|
Net cash provided by (used in) investing activities |
(2,879 |
) |
(2,475 |
) |
||||
|
Cash flows from financing activities: |
||||||||
|
Tax payments related to shares withheld for share-based compensation plans |
(538 |
) |
— |
|||||
|
Payments on debt |
(5,000 |
) |
— |
|||||
|
Dividends paid |
(4,602 |
) |
(4,549 |
) |
||||
|
Principal payments under finance lease obligation |
(31 |
) |
(33 |
) |
||||
|
Net cash provided by (used in) financing activities |
(10,171 |
) |
(4,582 |
) |
||||
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
8,734 |
(22,301 |
) |
|||||
|
Cash, cash equivalents and restricted cash: |
||||||||
|
Beginning |
60,236 |
96,700 |
||||||
|
Ending |
$ |
68,970 |
$ |
74,399 |
||||
