Townsquare Media Inc. reported third quarter 2025 net revenue decreased by 7.4% year-over-year, with net revenue excluding political down 4.5%. Adjusted EBITDA declined by 13.5% year-over-year, or 2.0% excluding political. The company recorded a net loss of $5.5 million for the quarter. For the first nine months of 2025, digital net revenue rose 2.1% year-over-year, representing 55% of total net revenue, while Digital Segment Profit increased 3.6% year-over-year, also accounting for 55% of total Segment Profit. Direct Digital Advertising revenue grew 7% year-over-year in the third quarter. Townsquare Interactive reported Segment Profit growth of 21% year-over-year in the third quarter and 19% year-to-date. Since its February 2025 refinancing, Townsquare reduced its outstanding debt by $17 million. The Board approved a quarterly cash dividend of $0.20 per share, with a dividend yield of approximately 13%.