Net Revenue Down 4.3 Percent At Saga

Saga Communications released its 2025 Q1 financial report on May 8, 2025, covering January through March.

• Net revenue fell 4.3% to $24.2 million compared to the prior year. 
• Station operating expenses decreased 2.2% to $22.0 million from the same period in 2024. The operating loss was $2.3 million, an improvement from $2.4 million in Q1 2024.
• Station operating income, a non-GAAP measure, declined to $2.2 million from $2.8 million year-over-year. 
• Capital expenditures totaled $700,000, down from $1.1 million in Q1 2024. The company reported a net loss of $1.6 million, unchanged from the prior year, with a diluted loss per share of $0.25.

Saga noted uncertainty in Q2 revenue pacing but sees improvement. April revenue was down high single digits, May improved to low single digits, and June is roughly flat compared to last year.

The company’s balance sheet showed $27.0 million in cash and short-term investments as of March 31, 2025, and $27.2 million as of May 5, 2025. Saga anticipates $4.0–$4.5 million in capital expenditures for 2025.