第一電台｜10-Q：2025 財年 Q3 營收 92.68 百萬美元

Revenue: As of FY2025 Q3, the actual value is USD 92.68 M.

EPS: As of FY2025 Q3, the actual value is USD -0.06.

EBIT: As of FY2025 Q3, the actual value is USD 11.45 M.

Radio Broadcasting Segment

• Net Revenue: $104.0 million for the nine months ended September 30, 2025, compared to $118.1 million for the same period in 2024, a decrease of $14.1 million, primarily due to weaker market demand and non-returning political revenues.
• Operating Expenses: Programming and technical expenses increased by $1.0 million due to higher music royalty expenses, offset by lower headcount costs.

Reach Media Segment

• Net Revenue: $17.3 million for the nine months ended September 30, 2025, compared to $37.6 million for the same period in 2024, a decrease of $20.3 million, primarily due to the timing of the Fantastic Voyage cruise and decreased national sales.
• Operating Expenses: Decreased by $7.0 million due to the timing of the Fantastic Voyage cruise and a change in bad debt reserve.

Digital Segment

• Net Revenue: $33.2 million for the nine months ended September 30, 2025, compared to $44.6 million for the same period in 2024, a decrease of $11.4 million, driven by decreased direct revenue streams and lower political revenue.
• Operating Expenses: Decreased by $0.8 million due to lower headcount and contract labor expenses.

Cable Television Segment

• Net Revenue: $124.1 million for the nine months ended September 30, 2025, compared to $134.1 million for the same period in 2024, a decrease of $10.0 million, primarily due to decreased audience viewership and subscriber churn.
• Operating Expenses: Decreased by $5.1 million due to reduced programming asset amortization and lower headcount.

Cash Flow

• Operating Cash Flow: $8.1 million for the nine months ended September 30, 2025, compared to $1.9 million for the same period in 2024, primarily due to lower payments for content.
• Free Cash Flow: Not explicitly stated, but net cash flows used in investing activities were $7.3 million, and net cash flows used in financing activities were $58.6 million for the nine months ended September 30, 2025.

Future Outlook and Strategy

• Core Business Focus: The company is focusing on managing costs and optimizing revenue streams across its segments, particularly in response to market demand fluctuations and subscriber churn in the Cable Television segment.
• Non-Core Business: The company is managing its debt through repurchases, having repurchased $96.7 million of its 2028 Notes at an average price of 53.6% of par, resulting in a net gain on retirement of debt of $44.0 million.