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Bright Mountain Media, Inc. — Third Quarter 2026 Earnings Summary

BMTM

  • Financial Performance:

    • Revenue for the three months ended September 30, 2026, was $11.6 million, a 17% decrease from $13.9 million in the same period of 2025.
    • Revenue for the nine months ended September 30, 2026, was $39.2 million, a 10% decrease from $43.5 million in the same period of 2025.
    • Cost of revenue for the three months ended September 30, 2026, was $8.2 million (down 15% from $9.7 million in 2025).
    • Cost of revenue for the nine months ended September 30, 2026, was $29.1 million (down 9% from $32.0 million in 2025).
    • Gross margin for the three months ended September 30, 2026, was $3.4 million (down 20% from $4.3 million in 2025).
    • Gross margin for the nine months ended September 30, 2026, was $10.1 million (down 12% from $11.6 million in 2025).
    • General and administrative expenses for the three months ended September 30, 2026, were $2.6 million, a 37% decrease from $4.1 million in 2025.
    • General and administrative expenses for the nine months ended September 30, 2026, were $8.7 million, a 31% decrease from $12.6 million in 2025.
    • Net loss for the three months ended September 30, 2026, was $3.0 million, a 6% increase from $2.8 million in 2025.
    • Net loss for the nine months ended September 30, 2026, was $7.5 million, a 26% improvement (decrease) from $10.1 million in 2025.
    • Adjusted EBITDA for the three months ended September 30, 2026, was $1.5 million, an increase of 10% from $1.3 million in 2025.
    • Adjusted EBITDA for the nine months ended September 30, 2026, was $3.6 million, an increase of 88% from $1.9 million in 2025.
    • Cash and cash equivalents as of September 30, 2026, were $1.7 million, compared to $1.4 million as of December 31, 2025.
    • Deferred revenue as of September 30, 2026, was $4.5 million, an increase from $2.8 million as of December 31, 2025.
    • Total liabilities as of September 30, 2026, were $116.8 million, compared to $116.3 million as of December 31, 2025.
    • Note payable related to the Centre Lane Senior Secured Credit Facility (current portion) was $90.6 million as of September 30, 2026, up from $84.3 million as of December 31, 2025.
    • Interest expense related to the Centre Lane Senior Secured Credit Facility was $3.3 million for the three months ended September 30, 2026, and $9.6 million for the nine months ended September 30, 2026.

  • Business Segments and Product Lines:

    • For the three months ended September 30, 2026, Advertising technology revenue was $4.5 million, Consumer insights revenue was $4.9 million, Creative and media services revenue was $2.0 million, and Digital publishing revenue was $125,000.
    • For the nine months ended September 30, 2026, Advertising technology revenue was $17.6 million, Consumer insights revenue was $14.9 million, Creative and media services revenue was $6.0 million, and Digital publishing revenue was $703,000.

  • Management Commentary and Tone:

    • CEO Matthew Drinkwater stated the third quarter reflects continued progress in transforming the company into a "more focused, efficient, and profitable organization."
    • Management noted that while revenue reflected the impact of portfolio optimization and broader market conditions, operating performance improved with a 25% improvement in net loss for the first nine months of 2026.
    • Management expressed confidence that actions to streamline operations, strengthen the balance sheet, and invest in AI-driven capabilities position the company to drive long-term shareholder value.

  • Other Key Points:

    • The company reported a loss on sale of assets of $620,000 for the three months ended September 30, 2026, and a gain on sale of assets of $474,000 for the nine months ended September 30, 2026.
    • Weighted-average shares outstanding were 186.9 million (basic) for the three months ended September 30, 2026, and 184.0 million (basic) for the nine months ended September 30, 2026.
    • The company holds a Centre Lane Senior Secured Credit Facility, with related party interest expense of $3.3 million for the quarter and $9.6 million for the nine months.
    • The company's subsidiaries include Deep Focus Agency, LLC, MediaHouse, Inc., BV Insights, LLC, CL Media Holdings, LLC, Bright Mountain, LLC d/b/a BrightStream, Oceanside Media, LLC, Slutzky & Winshman, Ltd., and Wild Sky Media Co. Ltd.