$MDIA

Mediaco Holding Inc.

CIK:0001784254|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
NET REVENUES	$ 33,969	$ 31,245	$ 65,355	$ 59,275
OPERATING EXPENSES:
Operating expenses	35,227	34,774	70,049	63,986
Corporate expenses	2,055	1,554	3,721	3,147
Depreciation and amortization	1,343	1,697	3,019	3,466
Loss on disposal of assets	233	5	985	144
Total operating expenses	38,858	38,030	77,774	70,743
OPERATING LOSS	(4,889)	(6,785)	(12,419)	(11,468)
OTHER INCOME (EXPENSE):
Interest expense, net	(4,029)	(3,855)	(7,969)	(7,609)
Change in fair value of warrant shares liability	0	1,410	0	1,410
Other income, net	543	2,119	4,222	2,230
Total other expense	(3,486)	(326)	(3,747)	(3,969)
LOSS BEFORE INCOME TAXES AND EQUITY METHOD INVESTMENTS	(8,375)	(7,111)	(16,166)	(15,437)
PROVISION FOR INCOME TAXES	(150)	279	1,172	559
LOSS BEFORE EQUITY METHOD INVESTMENTS	(8,225)	(7,390)	(17,338)	(15,996)
EQUITY LOSS IN INVESTMENTS	(388)	0	(643)	0
NET LOSS	(8,613)	(7,390)	(17,981)	(15,996)
Net income attributable to noncontrolling interest	0	278	0	475
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (8,613)	$ (7,668)	$ (17,981)	$ (16,471)
Net loss per share attributable to common shareholders - basic and diluted
Net loss per share attributable to common shareholders - basic (in dollars per share)	$ (0.10)	$ (0.10)	$ (0.22)	$ (0.21)
Net loss per share attributable to common shareholders - diluted (in dollars per share)	$ (0.10)	$ (0.10)	$ (0.22)	$ (0.21)
Weighted-average common shares outstanding - basic and diluted
Weighted-average common shares outstanding - basic (in shares)	82,586	79,719	82,126	77,100
Weighted-average common shares outstanding - diluted (in shares)	82,586	79,719	82,126	77,100

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss	$ (17,981)	$ (15,996)
Adjustments to reconcile net loss to net cash used in operating activities -
Depreciation and amortization	3,019	3,466
Amortization of debt discount	408	310
Amortization of fair value debt adjustments	1,533	1,126
Noncash change in warrant shares	0	(1,410)
Noncash interest expense	3,023	2,865
Noncash lease expense	1,168	1,386
Noncash gain on remeasurement of lease	(1,614)	0
Provision for bad debts	(330)	1,313
Provision for deferred income taxes	399	559
Loss on equity method investment	643	0
Other noncash items	2,018	223
Changes in assets and liabilities
Accounts receivable	3,306	(2,779)
Prepaid expenses and other current assets	1,866	1,452
Other assets	94	4,866
Accounts payable and accrued liabilities	4,160	4,894
Deferred revenue	(2,404)	(539)
Operating lease liabilities	(852)	(820)
Income taxes	330	2,826
Other liabilities	(1,555)	(4,635)
Net cash used in operating activities	(2,769)	(893)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(158)	(277)
Investment in equity method investment	(643)	0
Proceeds from the sale of property and equipment	551	0
Net cash used in investing activities	(250)	(277)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of class A common stock	0	8
Finance lease principal payments	(276)	(233)
Settlement of tax withholding obligations	0	(95)
Net cash used in financing activities	(276)	(320)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(3,295)	(1,490)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:
Beginning of period	7,095	6,933
End of period	3,800	5,443
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	2,898	3,090
Cash paid for income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING:
Capital expenditures received in exchange for liabilities included in deferred revenue	$ 240	$ 123

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 1,807	$ 5,109
Accounts receivable, net of allowance for credit losses of $892 and $1,671, respectively	30,350	33,326
Current programming rights	310	655
Prepaid expenses and other current assets	1,033	2,556
Assets held for sale	700	427
Total current assets	34,200	42,073
PROPERTY AND EQUIPMENT, NET	14,838	17,639
GOODWILL	8,403	8,403
INTANGIBLE ASSETS, NET	171,394	172,718
OPERATING LEASE RIGHT OF USE ASSETS	39,225	45,830
OTHER NONCURRENT ASSETS	3,935	4,395
Total assets	271,995	291,058
CURRENT LIABILITIES:
Accounts payable	44,336	36,913
Accrued expenses	13,581	14,815
Current maturities of long-term debt	74,956	10,000
Accrued salaries and commissions	3,547	5,337
Deferred revenue	7,194	9,598
Operating lease liabilities	5,852	6,746
Income taxes payable	5,357	4,972
Other current liabilities	1,400	2,683
Total current liabilities	156,223	91,064
LONG TERM DEBT, NET OF CURRENT	0	63,284
SERIES B PREFERRED STOCK	44,547	41,320
OPERATING LEASE LIABILITIES, NET OF CURRENT	28,998	36,007
UNRECOGNIZED TAX LIABILITY	8,838	8,386
OTHER NONCURRENT LIABILITIES	4,747	4,683
Total liabilities	243,353	244,744
COMMITMENTS AND CONTINGENCIES (See Note 9)
EQUITY:
Additional paid-in capital	140,572	140,269
Accumulated deficit	(112,753)	(94,772)
Total equity	28,642	46,314
Total liabilities and equity	271,995	291,058
Class A common stock
EQUITY:
Common stock	769	763
Class B common stock
EQUITY:
Common stock	54	54
Class C Common Stock
EQUITY:
Common stock	$ 0	$ 0