BEASLEY BROADCAST GROUP INC Segments Disclosure
The Company currently operates two operating and reportable segments (Audio and Digital). The identification of segments is consistent with how the segments report to and are managed by the Company’s (the Company’s Chief Operating Decision Maker). The Audio segment generates revenue primarily from the sale of commercial advertising to customers of the Company’s stations in the following markets: Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Fort Myers-Naples, FL, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, and Tampa-Saint Petersburg, FL. The Digital segment generates revenue primarily from the sale of digital advertising to customers of the Company’s stations and other advertisers throughout the United States. Corporate expenses include general and administrative expenses and certain other income and expense items not allocated to the operating segments. Non-operating corporate items, including interest expense and income taxes, are reported in the accompanying consolidated statements of comprehensive loss.
Reportable segment information for the year ended December 31, 2025 is as follows:
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Net revenue |
|
$ |
156,467,315 |
|
|
$ |
49,472,312 |
|
|
$ |
— |
|
|
$ |
205,939,627 |
|
Operating expenses |
|
|
148,954,220 |
|
|
|
37,661,036 |
|
|
|
— |
|
|
|
186,615,256 |
|
Corporate expenses |
|
|
— |
|
|
|
— |
|
|
|
14,364,287 |
|
|
|
14,364,287 |
|
Depreciation and amortization |
|
|
5,736,078 |
|
|
|
77,395 |
|
|
|
518,379 |
|
|
|
6,331,852 |
|
FCC licenses impairment losses |
|
|
224,815,149 |
|
|
|
— |
|
|
|
— |
|
|
|
224,815,149 |
|
Other operating expenses |
|
|
3,487,147 |
|
|
|
— |
|
|
|
— |
|
|
|
3,487,147 |
|
Operating income (loss) |
|
$ |
(226,525,279 |
) |
|
$ |
11,733,881 |
|
|
$ |
(14,882,666 |
) |
|
$ |
(229,674,064 |
) |
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Capital expenditures |
|
$ |
2,925,168 |
|
|
$ |
— |
|
|
$ |
1,910,556 |
|
|
$ |
4,835,724 |
|
Reportable segment information for the year ended December 31, 2024 is as follows:
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Net revenue |
|
$ |
193,561,279 |
|
|
$ |
46,730,332 |
|
|
$ |
— |
|
|
$ |
240,291,611 |
|
Operating expenses |
|
|
160,575,045 |
|
|
|
41,193,712 |
|
|
|
— |
|
|
|
201,768,757 |
|
Corporate expenses |
|
|
— |
|
|
|
— |
|
|
|
17,272,696 |
|
|
|
17,272,696 |
|
Depreciation and amortization |
|
|
6,379,197 |
|
|
|
173,164 |
|
|
|
683,699 |
|
|
|
7,236,060 |
|
Goodwill impairment losses |
|
|
— |
|
|
|
922,000 |
|
|
|
— |
|
|
|
922,000 |
|
Operating income (loss) |
|
$ |
26,607,037 |
|
|
$ |
4,441,456 |
|
|
$ |
(17,956,395 |
) |
|
$ |
13,092,098 |
|
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Capital expenditures |
|
$ |
2,463,014 |
|
|
$ |
— |
|
|
$ |
550,654 |
|
|
$ |
3,013,668 |
|
Reportable segment information as of December 31, 2025 is as follows:
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Property and equipment, net |
|
$ |
38,894,643 |
|
|
$ |
— |
|
|
$ |
4,206,678 |
|
|
$ |
43,101,321 |
|
FCC licenses |
|
|
154,711,200 |
|
|
|
— |
|
|
|
— |
|
|
|
154,711,200 |
|
Other intangibles, net |
|
|
1,412,901 |
|
|
|
— |
|
|
|
— |
|
|
|
1,412,901 |
|
Net assets held for sale |
|
|
5,734,281 |
|
|
|
— |
|
|
|
— |
|
|
|
5,734,281 |
|
Reportable segment information as of December 31, 2024 is as follows:
|
|
Audio |
|
|
Digital |
|
|
Corporate |
|
|
Total |
|
||||
Property and equipment, net |
|
$ |
44,089,751 |
|
|
$ |
63,220 |
|
|
$ |
2,848,007 |
|
|
$ |
47,000,978 |
|
FCC licenses |
|
|
392,259,831 |
|
|
|
— |
|
|
|
— |
|
|
|
392,259,831 |
|
Other intangibles, net |
|
|
1,574,817 |
|
|
|
327,618 |
|
|
|
179,663 |
|
|
|
2,082,098 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 8, 2026 | Showing above |
| 2024 | Mar 26, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.