Tue, Apr 15, 12:25 PM (38 days ago)
### Summary of MediaCo Holding Inc. (MDIA) 2024 Annual Report **Financial Performance:** - **Revenue:** $95.6 million, a 195% increase from 2023. - **Operating Loss:** $28.2 million, a 316% increase from 2023. - **Net Loss:** $1.3 million, an 82% decrease from 2023. - **Adjusted EBITDA:** $(2.2) million, consistent with 2023. - **Cash Flows:** $19.9 million used in operating activities, a 257% increase from 2023. **Strategic Overview:** - **Acquisitions:** Significant expansion through the Estrella Acquisition, diversifying content portfolio and establishing a leading multi-platform media network serving U.S. Hispanic audiences. - **Segment Performance:** Audio Segment revenue increased by $25.1 million, driven by the Estrella Acquisition. Video Segment revenue was entirely due to the Estrella Acquisition. - **Market Position:** Expanded national footprint and diversified content portfolio, establishing a leading position in the multi-platform media network serving U.S. Hispanic audiences. **Future Outlook:** - **Integration:** Progress in integrating Estrella operations, with initial cost synergies realized in the second half of 2024 and further efficiencies anticipated in 2025. - **Growth Initiatives:** Continued focus on digital and streaming initiatives, with revenue from digital platforms increasing by 452% year-over-year. **Risk Factors:** - **Economic Conditions:** Advertising revenues and results of operations could be negatively impacted by weak economic conditions and instability in financial markets. - **Competition:** Risk of losing audience share and advertising revenue to competing broadcast stations or other types of media. - **Regulatory Risks:** FCC ownership restrictions and other regulatory risks could impact the ability to acquire, operate, and dispose of stations. **Financial Condition:** - **Liquidity:** Primary sources of liquidity are cash provided by operations and At Market Issuance Sales Agreements. Management anticipates meeting liquidity needs for the next twelve months with cash on hand, additional draws on its First Lien Term Loan, and projected cash flows from operations. - **Debt:** Significant long-term debt with variable interest rates, subject to interest rate risk and inflationary pressures. **Market Position Changes:** - **Segment Performance:** Audio Segment revenue increased by $25.1 million, driven by the Estrella Acquisition. Video Segment revenue was entirely due to the Estrella Acquisition. - **Integration Progress:** Initial cost synergies realized in the second half of 2024 and further efficiencies anticipated in 2025. **Earnings per Share:** Not explicitly stated but implied by the net loss and share count. **Note:** Amounts are in thousands, $000s.