CUMULUS MEDIA INC
CMLS, CMLSQ · Radio Broadcasting Stations · 17.7M shares · -5%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $3M (gross $8M, SBC $5M)
Grade
D50gen composite 36pct→60; net + operating loss; negative equity (distress)
Notable findings
- BankruptcyRecent 8-K item 1.03 8-K ↗
- Debt accelerationRecent 8-K item 2.04 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-41.6M)
- Negative equityNegative book equity (debt/equity -3.75)
- Net lossNet loss (net margin -27.1%)
- Buying back stockNet buyback — share count -5%/yr over 4y
- Revenue declineRevenue -12.2% YoY
- Notable holderHeld by 1 notable fund(s): BlackRock Finance, Inc. (as of 2024-06-30)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-18.6%
Net margin
-27.1%
Return on equity
104.8%
Return on assets
-21.3%
ROIC
-20.7%
Revenue growth (QoQ)
-12.2%
Debt / equity
-3.8×
Current ratio
1.5×
Free cash flow
-$42M
EBITDA
-$84M
Tangible book value
-$659M
Cash & investments
$82M
Cash runway
8q
Stock comp / revenue
0.3%
Leadership & compensation
| Name | Role | Latest total comp |
|---|---|---|
| Mary G. Berner | President & CEO | $5M FY2024 |
| Collin R. Jones | See Remarks | $1M FY2024 |
| Denning Richard | See Remarks | — |
| Francisco J. Lopez-Balboa | See Remarks | $2M FY2024 |
| Milner David Edward | President - Operations | — |
| Walker Robert J | President - Operations | — |
| Andrew W. Hobson | Director | $345K FY2024 |
| Brian G. Kushner | Director | $225K FY2024 |
| Deborah A. Farrington | Director | $200K FY2024 |
| Joan Hogan Gillman | Director | $215K FY2024 |
| Matthew C. Blank | Director | $200K FY2024 |
| Thomas H. Castro | Director | $200K FY2024 |
Officers & directors from SEC filings (Form 4 + DEF 14A proxy); compensation is the latest reported fiscal year.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-04-17 | BankruptcyExec/director changeReg FDOtherExhibits | filing ↗ |
| 2026-04-10 | ResultsExhibits | filing ↗ |
| 2026-03-05 | Material agreementBankruptcyDebt accelerationExec/director changeReg FDOtherExhibits | filing ↗ |
| 2026-01-15 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-10-30 | ResultsExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-05-30 | Shareholder voteExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K/A | 2026-04-30 | 2025-12-31 | 0001104659-26-052957 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001058623-26-000028 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001058623-26-000029 ↗ |
| 8-K | 2026-04-17 | 2026-04-15 | 0001104659-26-044909 ↗ |
| 10-K | 2026-04-10 | 2025-12-31 | 0001058623-26-000018 ↗ |
| 8-K | 2026-04-10 | 2026-04-10 | 0001058623-26-000017 ↗ |
| 8-K | 2026-03-05 | 2026-03-04 | 0001104659-26-023855 ↗ |
| 8-K | 2026-01-15 | 2026-01-14 | 0001058623-26-000004 ↗ |
| 8-K | 2025-10-30 | 2025-10-30 | 0001058623-25-000067 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001058623-25-000068 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001058623-25-000051 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001058623-25-000052 ↗ |