Bright Mountain Media, Inc Announces Fourth Quarter and Full-Year 2024 Financial Results
Bright Mountain Media (OTCQB: BMTM) reported strong financial growth for Q4 and full-year 2024. Fourth quarter revenue increased 13% to $17.1 million, with a 1% gross margin increase to $5.5 million. Full-year 2024 saw revenue surge 27% to $56.7 million, while gross margin grew 29% to $16.5 million.
Q4 revenue breakdown shows advertising technology at $7.6 million, consumer insights at $6.9 million, creative services at $1.7 million, media services at $626,000, and digital publishing at $265,000. The company reduced its Q4 net loss by 36% to $3.8 million, while achieving Adjusted EBITDA of $2.0 million compared to a loss of $616,000 in Q4 2023.
For full-year 2024, revenue segments included advertising technology ($18.4M), consumer insights ($27.0M), creative services ($7.1M), media services ($2.4M), and digital publishing ($1.7M). The company significantly reduced its annual net loss by 52% to $17.0 million.
Bright Mountain Media (OTCQB: BMTM) ha riportato una forte crescita finanziaria per il quarto trimestre e l'intero anno 2024. I ricavi del quarto trimestre sono aumentati del 13% a 17,1 milioni di dollari, con un incremento del margine lordo dell'1% a 5,5 milioni di dollari. Nell'anno intero 2024, i ricavi sono aumentati del 27% a 56,7 milioni di dollari, mentre il margine lordo è cresciuto del 29% a 16,5 milioni di dollari.
La suddivisione dei ricavi del Q4 mostra la tecnologia pubblicitaria a 7,6 milioni di dollari, le informazioni sui consumatori a 6,9 milioni di dollari, i servizi creativi a 1,7 milioni di dollari, i servizi media a 626.000 dollari e la pubblicazione digitale a 265.000 dollari. L'azienda ha ridotto la sua perdita netta del Q4 del 36% a 3,8 milioni di dollari, raggiungendo un EBITDA rettificato di 2,0 milioni di dollari rispetto a una perdita di 616.000 dollari nel Q4 2023.
Per l'intero anno 2024, i segmenti di ricavo includevano la tecnologia pubblicitaria (18,4 milioni di dollari), le informazioni sui consumatori (27,0 milioni di dollari), i servizi creativi (7,1 milioni di dollari), i servizi media (2,4 milioni di dollari) e la pubblicazione digitale (1,7 milioni di dollari). L'azienda ha ridotto significativamente la sua perdita netta annuale del 52% a 17,0 milioni di dollari.
Bright Mountain Media (OTCQB: BMTM) reportó un fuerte crecimiento financiero para el cuarto trimestre y el año completo 2024. Los ingresos del cuarto trimestre aumentaron un 13% a 17,1 millones de dólares, con un incremento del margen bruto del 1% a 5,5 millones de dólares. En el año completo 2024, los ingresos se dispararon un 27% a 56,7 millones de dólares, mientras que el margen bruto creció un 29% a 16,5 millones de dólares.
El desglose de ingresos del Q4 muestra tecnología publicitaria por 7,6 millones de dólares, información del consumidor por 6,9 millones de dólares, servicios creativos por 1,7 millones de dólares, servicios de medios por 626,000 dólares y publicación digital por 265,000 dólares. La compañía redujo su pérdida neta del Q4 en un 36% a 3,8 millones de dólares, logrando un EBITDA ajustado de 2,0 millones de dólares en comparación con una pérdida de 616,000 dólares en el Q4 de 2023.
Para el año completo 2024, los segmentos de ingresos incluyeron tecnología publicitaria (18,4 millones de dólares), información del consumidor (27,0 millones de dólares), servicios creativos (7,1 millones de dólares), servicios de medios (2,4 millones de dólares) y publicación digital (1,7 millones de dólares). La compañía redujo significativamente su pérdida neta anual en un 52% a 17,0 millones de dólares.
브라이트 마운틴 미디어 (OTCQB: BMTM)는 2024년 4분기 및 연간 강력한 재무 성장을 보고했습니다. 4분기 수익은 13% 증가하여 1,710만 달러에 달했으며, 총 이익률은 1% 증가하여 550만 달러에 달했습니다. 2024년 전체에서는 수익이 27% 증가하여 5,670만 달러에 도달했으며, 총 이익률은 29% 증가하여 1,650만 달러에 달했습니다.
4분기 수익 세부 내역은 광고 기술이 760만 달러, 소비자 인사이트가 690만 달러, 창의적 서비스가 170만 달러, 미디어 서비스가 626,000 달러, 디지털 출판이 265,000 달러입니다. 회사는 4분기 순손실을 36% 줄여 380만 달러로 줄였으며, 2023년 4분기 616,000 달러의 손실에 비해 조정된 EBITDA는 200만 달러를 기록했습니다.
2024년 전체 연도에 대한 수익 세그먼트에는 광고 기술(1,840만 달러), 소비자 인사이트(2,700만 달러), 창의적 서비스(710만 달러), 미디어 서비스(240만 달러), 디지털 출판(170만 달러)가 포함되었습니다. 회사는 연간 순손실을 52% 줄여 1,700만 달러로 줄였습니다.
Bright Mountain Media (OTCQB: BMTM) a rapporté une forte croissance financière pour le quatrième trimestre et l'année complète 2024. Les revenus du quatrième trimestre ont augmenté de 13 % pour atteindre 17,1 millions de dollars, avec une augmentation de la marge brute de 1 % à 5,5 millions de dollars. Pour l'année complète 2024, les revenus ont bondi de 27 % pour atteindre 56,7 millions de dollars, tandis que la marge brute a progressé de 29 % pour s'établir à 16,5 millions de dollars.
La répartition des revenus du Q4 montre que la technologie publicitaire a généré 7,6 millions de dollars, les insights consommateurs 6,9 millions de dollars, les services créatifs 1,7 million de dollars, les services médiatiques 626 000 dollars et l'édition numérique 265 000 dollars. L'entreprise a réduit sa perte nette du Q4 de 36 % à 3,8 millions de dollars, tout en atteignant un EBITDA ajusté de 2,0 millions de dollars par rapport à une perte de 616 000 dollars au Q4 2023.
Pour l'année complète 2024, les segments de revenus comprenaient la technologie publicitaire (18,4 millions de dollars), les insights consommateurs (27,0 millions de dollars), les services créatifs (7,1 millions de dollars), les services médiatiques (2,4 millions de dollars) et l'édition numérique (1,7 million de dollars). L'entreprise a considérablement réduit sa perte nette annuelle de 52 % à 17,0 millions de dollars.
Bright Mountain Media (OTCQB: BMTM) berichtete über ein starkes finanzielles Wachstum im 4. Quartal und im Gesamtjahr 2024. Die Umsätze im 4. Quartal stiegen um 13% auf 17,1 Millionen Dollar, mit einem Anstieg der Bruttomarge um 1% auf 5,5 Millionen Dollar. Im Gesamtjahr 2024 stiegen die Umsätze um 27% auf 56,7 Millionen Dollar, während die Bruttomarge um 29% auf 16,5 Millionen Dollar wuchs.
Die Umsatzaufteilung für das Q4 zeigt, dass die Werbungstechnologie 7,6 Millionen Dollar, Verbraucheranalysen 6,9 Millionen Dollar, kreative Dienstleistungen 1,7 Millionen Dollar, Mediendienstleistungen 626.000 Dollar und digitale Publikationen 265.000 Dollar ausmachten. Das Unternehmen reduzierte seinen Nettoverlust im Q4 um 36% auf 3,8 Millionen Dollar und erzielte ein bereinigtes EBITDA von 2,0 Millionen Dollar im Vergleich zu einem Verlust von 616.000 Dollar im Q4 2023.
Für das Gesamtjahr 2024 umfassten die Umsatzsegmente Werbungstechnologie (18,4 Millionen Dollar), Verbraucheranalysen (27,0 Millionen Dollar), kreative Dienstleistungen (7,1 Millionen Dollar), Mediendienstleistungen (2,4 Millionen Dollar) und digitale Publikationen (1,7 Millionen Dollar). Das Unternehmen reduzierte seinen jährlichen Nettoverlust um 52% auf 17,0 Millionen Dollar.
- Revenue increased 27% to $56.7M for full-year 2024
- Gross margin grew 29% to $16.5M in 2024
- Q4 2024 Adjusted EBITDA improved to $2.0M from -$616K in Q4 2023
- Net loss decreased 52% to $17.0M in 2024
- General and administrative expenses reduced by 5% in 2024
- Digital publishing revenue declined due to macroeconomic factors
- Q4 cost of revenue increased 19% to $11.6M
- Continued net loss of $17.0M in 2024
- Digital publishing revenue remained low at $1.7M for full-year 2024
- Fourth quarter revenue increased
13% to$17.1 million compared to the fourth quarter of 2023. - Fourth quarter gross margin increased
1% to$5.5 million compared to the fourth quarter of 2023. - Full-year 2024 revenue increased
27% to$56.7 million , compared to the full-year of 2023. - Full-year 2024 gross margin increased
29% to$16.5 million , compared to the full-year of 2023.
Boca Raton, FL, March 10, 2025 (GLOBE NEWSWIRE) -- Bright Mountain Media, Inc. (OTCQB: BMTM) (“Bright Mountain” or the “Company”), a global holding company with current investments in digital publishing, advertising technology, consumer insights, creative services, and media services, today announced its financial results for the fourth quarter and year ended December 31, 2024.
Matt Drinkwater, the CEO of Bright Mountain Media, is thrilled to share news of our ongoing financial success. He commented, "We are delighted with our steady financial performance. In the fourth quarter, our revenue rose by
We are actively leveraging the strong synergies from our previous acquisitions while focusing on launching innovative products and services, and are striving to achieve our ambitious goal of creating a fully integrated marketing services platform."
Financial Results for the Three Months Ended December 31, 2024
- Revenue was
$17.1 million , an increase of$2.0 million , or13% , compared to$15.1 million for the same period of 2023. The increase in revenue was primarily from our advertising technology division, and was driven by our ability to leverage our resources to attract top advertisers, which in turn allowed us to onboard premium publishers. This led to an increase in volume, as well as rates and overall revenue. The increase was partially offset by a decline in revenue from our digital publishing division, which was significantly impacted by macroeconomic factors, which reduced traffic to our website, coupled with an overall reduction in spending by some customers related to inflationary concerns.
Advertising technology revenue was approximately
- Cost of revenue was
$11.6 million , an increase of$1.9 million , or19% , compared to$9.7 million for the same period in 2023. Cost of revenue is inclusive of: direct salary and labor costs of approximately$1.9 million for employees that work directly on customer projects; direct project costs of approximately$2.5 million for payments made to third-parties that are directly attributable to the completion of projects to allow for revenue recognition, non-direct project costs of approximately$1.2 million , publisher costs of approximately$5.3 million , and sales commissions of approximately$496,000. - General and administrative expense was
$6.4 million , a decrease of16% , compared to$7.6 million in the same period of 2023. - Gross margin was
$5.5 million , an increase of1% , compared to$5.4 million in the same period of 2023. - Net loss was
$3.8 million , a decrease of36% , compared to a$5.9 million net loss in the same period of 2023. - Adjusted EBITDA was
$2.0 million compared to Adjusted EBITDA loss of$616,000 in the same period of 2023. See the below section on Non-GAAP Financial Measure for a reconciliation of net loss to EBITDA and Adjusted EBITDA.
Financial Results for the Year Ended December 31, 2024
- Revenue was
$56.7 million , an increase of$12.1 million or27% , compared to$44.5 million for the same period of 2023. For the year ended December 31, 2024, revenue includes$36.5 million which represents the impact of the Big Village Acquisition, which was completed in April 2023. This compares to$31.0 million for the same period in 2023. As a result, the acquisition contributed to revenue for nine months of the prior period and for the full twelve months of the current period, and is the main driver of the increase in revenue for the year ended December 31, 2024.
Advertising technology revenue was approximately
- Cost of revenue was
$40.2 million , an increase of$8.5 million , or27% , compared to$31.8 million for the same period in 2023. For the year ended December 31, 2024, cost of revenue includes$25.9 million which represents the impact of the Big Village Acquisition, which was completed in April 2023. This compares to$24.0 million for the same period in 2023. As a result, the acquisition contributed to cost of revenue for nine months of the prior period and for the full twelve months of the current period, and is the main driver of the increase in cost of revenue for the year ended December 31, 2024. - Cost of revenue is inclusive of: direct salary and labor costs of approximately
$7.6 million for employees that work directly on customer projects; direct project costs of approximately$11.7 million for payments made to third-parties that are directly attributable to the completion of projects to allow for revenue recognition, non-direct project costs of approximately$6.6 million , publisher costs of approximately$12.4 million , and sales commissions of approximately$1.2 million . - General and administrative expense was
$21.4 million , a decrease of5% , compared to$22.5 million in the same period of 2023. - The Company performed an assessment of its goodwill and intangibles for the Ad Network, Owned & Operated, and Insights reporting units for the years ended December 31, 2024 and 2023. The assessment of 2023 indicated that the carrying value was in excess of the implied fair value for the Ad Network and Owned & Operated reporting units, resulting in an impairment charge of
$14.1 million and$2.9 million for goodwill and intangibles, respectively. There was no such charge for the same period in 2024. - Gross margin was
$16.5 million , an increase of29% , compared to$12.8 million in the same period of 2023. - Net loss was
$17.0 million , a decrease of52% , compared to a$35.6 million net loss in the same period of 2023. - Adjusted EBITDA was
$790,000 compared to Adjusted EBITDA loss of$3.9 million in the same period of 2023. See the below section on Non-GAAP Financial Measure for a reconciliation of net loss to EBITDA and Adjusted EBITDA.
About Bright Mountain Media
Bright Mountain Media, Inc. (OTCQB: BMTM) unites a diverse portfolio of companies to deliver a full spectrum of advertising, marketing, technology, and media services under one roof—fused together by data-driven insights. Bright Mountain Media’s subsidiaries include Deep Focus Agency, LLC, BV Insights, LLC, CL Media Holdings, LLC, and Bright Mountain, LLC d/b/a BrightStream. For more Information, please visit www.brightmountainmedia.com.
Forward-Looking Statements for Bright Mountain Media, Inc.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes,” and similar words. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations of our ability to successfully integrate acquisitions, and the realization of any expected benefits from such acquisitions. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Bright Mountain Media, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2024 and our other filings with the SEC. Bright Mountain Media, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.
Contact / Investor Relations:
Douglas Baker
Email:corp@otcprgroup.com
Tel: (561) 807-6350
https://otcprgroup.com
BRIGHT MOUNTAIN MEDIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share data)
| Three Months Ended | Year Ended | ||||||||||||||||
| December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | ||||||||||||||
| Revenue | $ | 17,079 | $ | 15,143 | $ | 56,681 | $ | 44,546 | |||||||||
| Cost of revenue | 11,565 | 9,707 | 40,221 | 31,766 | |||||||||||||
| Gross margin | 5,514 | 5,436 | 16,460 | 12,780 | |||||||||||||
| General and administrative expenses | 6,412 | 7,599 | 21,378 | 22,522 | |||||||||||||
| Impairment of goodwill and intangibles | - | 811 | - | 17,070 | |||||||||||||
| Loss from operations | (898 | ) | (2,974 | ) | (4,918 | ) | (26,812 | ) | |||||||||
| Financing and other expense: | |||||||||||||||||
| Other income | 119 | 22 | 547 | 437 | |||||||||||||
| Interest expense - | - | (4 | ) | (4 | ) | (20 | ) | ||||||||||
| Interest expense - Centre Lane senior secured credit facility - related party | (3,008 | ) | (2,967 | ) | (12,610 | ) | (9,142 | ) | |||||||||
| Other interest expense | (7 | ) | (8 | ) | (39 | ) | (27 | ) | |||||||||
| Total financing and other expense, net | (2,896 | ) | (2,957 | ) | (12,106 | ) | (8,752 | ) | |||||||||
| Net loss before income tax | (3,794 | ) | (5,931 | ) | (17,024 | ) | (35,564 | ) | |||||||||
| Income tax provision | - | - | - | - | |||||||||||||
| Net loss | $ | (3,794 | ) | $ | (5,931 | ) | $ | (17,024 | ) | $ | (35,564 | ) | |||||
| Foreign currency translation | (49 | ) | (45 | ) | 15 | 145 | |||||||||||
| Comprehensive loss | $ | (3,843 | ) | $ | (5,976 | ) | $ | (17,009 | ) | $ | (35,419 | ) | |||||
| Net loss per common share: | |||||||||||||||||
| Basic | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.10 | ) | $ | (0.22 | ) | |||||
| Diluted | $ | (0.02 | ) | $ | (0.03 | ) | $ | (0.10 | ) | $ | (0.22 | ) | |||||
| Weighted average shares outstanding: | |||||||||||||||||
| Basic | 171,330,139 | 171,301,201 | 171,199,036 | 164,845,671 | |||||||||||||
| Diluted | 171,330,139 | 171,301,201 | 171,199,036 | 164,845,671 | |||||||||||||
BRIGHT MOUNTAIN MEDIA, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 2,546 | $ | 4,001 | ||||
| Restricted cash | 1,861 | - | ||||||
| Accounts receivable, net | 15,033 | 14,679 | ||||||
| Prepaid expenses and other current assets | 859 | 1,057 | ||||||
| Total current assets | 20,299 | 19,737 | ||||||
| Property and equipment, net | 69 | 199 | ||||||
| Intangible assets, net | 13,406 | 15,234 | ||||||
| Goodwill | 7,785 | 7,785 | ||||||
| Operating lease right-of-use assets | 253 | 306 | ||||||
| Other long-term assets | 158 | 156 | ||||||
| Total assets | $ | 41,970 | $ | 43,417 | ||||
| Liabilities and Stockholders' Deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued expenses | $ | 22,667 | $ | 17,497 | ||||
| Other current liabilities | 4,401 | 3,025 | ||||||
| Interest payable - | - | 39 | ||||||
| Interest payable - Centre Lane senior secured credit facility - related party | 21 | - | ||||||
| Deferred revenue | 2,883 | 4,569 | ||||||
| Note payable - | - | 80 | ||||||
| Note payable - Centre Lane senior secured credit facility - related party (current) | 3,808 | 5,592 | ||||||
| Total current liabilities | 33,780 | 30,802 | ||||||
| Other long-term liabilities | 169 | 325 | ||||||
| Note payable - Centre Lane senior secured credit facility - related party (long-term) | 71,043 | 58,674 | ||||||
| Finance lease liabilities | 20 | 42 | ||||||
| Operating lease liabilities | 185 | 239 | ||||||
| Total liabilities | 105,197 | 90,082 | ||||||
| Stockholders' deficit: | ||||||||
| Convertible preferred stock, par value | - | - | ||||||
| Common stock, par value | 1,775 | 1,721 | ||||||
| Treasury stock at cost, 1,350,175 and 825,175 shares at December 31, 2024 and December 31, 2023, respectively | (220 | ) | (220 | ) | ||||
| Additional paid-in capital | 101,798 | 101,405 | ||||||
| Accumulated deficit | (166,857 | ) | (149,833 | ) | ||||
| Accumulated other comprehensive income | 277 | 262 | ||||||
| Total stockholders' deficit | $ | (63,227 | ) | $ | (46,665 | ) | ||
| Total liabilities and stockholders' deficit | $ | 41,970 | $ | 43,417 | ||||
BRIGHT MOUNTAIN MEDIA, INC.
RECONCILIATION OF NET LOSS TO NON-GAAP EBITDA AND ADJUSTED EBITDA
(in thousands)
Non-GAAP Financial Measure
Non-GAAP results are presented only as a supplement to the financial statements and for use within management's discussion and analysis based on U.S. generally accepted accounting principles ("GAAP"). The non-GAAP financial information is provided to enhance the reader's understanding of the Company's financial performance, but non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP.
All of the items included in the reconciliation from net loss before taxes to EBITDA and from EBITDA to Adjusted EBITDA are either (i) non-cash items (e.g., depreciation, amortization of purchased intangibles, stock-based compensation, etc.) or (ii) items that management does not consider to be useful in assessing the Company's ongoing operating performance (e.g., M&A costs, income taxes, gain on sale of investments, loss on disposal of assets, etc.). In the case of the non-cash items, management believes that investors can better assess the Company's operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect the Company's ability to generate free cash flow or invest in its business.
We use, and we believe investors benefit from the presentation of, EBITDA and Adjusted EBITDA in evaluating our operating performance because it provides us and our investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect our core operations. We believe that EBITDA is useful to investors and other external users of our financial statements in evaluating our operating performance because EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, and depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired.
Because not all companies use identical calculations, the Company's presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the Company's performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures.
A reconciliation of net loss to EBITDA and Adjusted EBITDA is as follows:
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2023 | |||||||||||||
| (in thousands) | ||||||||||||||||
| Net loss before tax | $ | (3,794 | ) | $ | (5,931 | ) | $ | (17,024 | ) | $ | (35,564 | ) | ||||
| Depreciation expense | 16 | 41 | 127 | 125 | ||||||||||||
| Amortization of intangibles | 482 | 547 | 1,924 | 2,490 | ||||||||||||
| Impairment of goodwill and intangibles | - | 812 | - | 17,070 | ||||||||||||
| Amortization of debt discount | 454 | 636 | 2,697 | 2,074 | ||||||||||||
| Other interest expense | 8 | 8 | 39 | 27 | ||||||||||||
| Interest expense - Centre Lane Senior Secured Credit Facility and Convertible Promissory Notes | 2,554 | 2,334 | 9,917 | 7,088 | ||||||||||||
| EBITDA | (280 | ) | (1,553 | ) | (2,320 | ) | (6,690 | ) | ||||||||
| Stock compensation expense | 64 | 74 | 254 | 196 | ||||||||||||
| Non-recurring professional fees | 223 | 483 | 390 | 1,462 | ||||||||||||
| Non-recurring legal fees | 1,847 | 313 | 2,216 | 711 | ||||||||||||
| Non-recurring severance expense | 157 | 67 | 250 | 389 | ||||||||||||
| Adjusted EBITDA (loss) | $ | 2,011 | $ | (616 | ) | $ | 790 | $ | (3,932 | ) | ||||||
FAQ
What was Bright Mountain Media's (BMTM) revenue growth in Q4 2024?
How much did BMTM's full-year 2024 gross margin increase?
What was BMTM's net loss improvement in 2024?
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