Saga Communications reported its first-quarter 2025 financial results today, showing a modest year-over-year revenue decline and continued focus on cost controls amid a challenging ad environment.
For the quarter ended March 31, Saga posted net revenue of $24.2 million, down 4.3% from the same period in 2024. Station operating expenses declined 2.2% to $22.0 million, reflecting the company’s ongoing efforts to manage costs in a soft local advertising market.
Despite the revenue pressure, Saga narrowed its operating loss slightly to $2.3 million, compared to $2.4 million a year ago. Station operating income—a key internal metric used by many radio broadcasters—fell to $2.2 million, down from $2.8 million in Q1 2024. The company’s net loss remained unchanged at $1.6 million, or a diluted loss of $0.25 per share.
Capital expenditures for the quarter dropped to $700,000 from $1.1 million a year earlier, part of a more measured investment strategy. Saga Communications projects total capital spending for 2025 to land between $4.0 million and $4.5 million.
While first-quarter results reflect persistent headwinds across the industry, Saga signaled tentative optimism for the second quarter. The company said revenue pacing remains volatile but is showing gradual improvement: April was down by high single digits, May is pacing down by low single digits, and June is currently tracking flat year-over-year.
As of March 31, Saga held $27.0 million in cash and short-term investments, a figure that slightly increased to $27.2 million as of May 5.
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