The Company plans to report a Net revenue of $205.9 million for the year ended December 31, 2025, compared to Net revenue of $240.3 million for the year ended December 31, 2024. The Company also plans to report an Operating loss of approximately $229.7 million for the year ended December 31, 2025, compared to Operating income of $13.1 million for the year ended December 31, 2024. The Company expects to report a Net loss of approximately $196.5 million for the year ended December 31, 2025, compared to approximately $5.9 million for the year ended December 31, 2024.

The Net loss in the year ended December 31, 2025 includes $224.8 million of impairment losses related to FCC licenses. The Net loss in the year ended December 31, 2024 includes a $6.0 million gain on sale of an investment in Broadcast Music, Inc.