Townsquare Media reports Q3 mixed results; initiates Q4 and updates FY outlook

* Townsquare Media press release [https://seekingalpha.com/pr/20299928-townsquare-reports-q3-results] (TSQ [https://seekingalpha.com/symbol/TSQ]): Q3 Non-GAAP EPS of $0.05 beats by $0.02.
* Revenue of $106.8M (-7.4% Y/Y) misses by $1.19M.
* Adjusted EBITDA decreased 13.5%, and 2.0% excluding political

* Total Digital net revenue decreased 1.8%

* Digital Advertising net revenue decreased 1.5%
* Subscription Digital Marketing Solutions (“Townsquare Interactive”) net revenue decreased 2.3%

* Total Digital Segment Profit decreased 6.8%

* Digital Advertising Segment Profit decreased 20.1%
* Subscription Digital Marketing Solutions Segment Profit increased 21.1%

* Broadcast Advertising net revenue decreased 13.8%, and 8.1% excluding political
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GUIDANCEFor the fourth quarter of 2025, net revenue is expected to be between $105 million and $109 million VS. $111.59M CONSENSUS, and Adjusted EBITDA is expected to be between $21.5 million and $23.5 million.

For the full year 2025, net revenue is expected to be between $426 million and $430 million (PRIOR $435 MILLION AND $440 MILLION) VS. $433.64M CONSENSUS, and Adjusted EBITDA is expected to be between $88 million and $90 million.