Entravision Communications Corporation Reports Fourth Quarter and Full Year 2024 Results
Entravision Communications Corporation (NYSE:EVC), a media and advertising technology company, today announced financial results for its fourth quarter and fiscal year ended December 31, 2024.
"We achieved net revenue growth of 37% and 23% during the fourth quarter and full year 2024, respectively, compared to the same periods in 2023, driven primarily by record political advertising revenue in our Media segment and advertising revenue in our Advertising Technology & Services segment," said Michael Christenson, Chief Executive Officer. "Our balance sheet remains strong, and as we look forward to fiscal year 2025 and beyond we continue to focus on providing highly-rated news and content to our audiences, strengthening our digital marketing solutions in combination with our television and radio offerings, and continuing to grow our Advertising Technology & Services segment."
Highlights
- Consolidated net revenue increased 37% for the fourth quarter 2024 and increased 23% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- The company achieved record political advertising revenue in 2024, which was the fifth election cycle in a row in which the company benefited from increased political advertising revenue compared to the previous election cycle.
- In 2024, the company significantly enhanced its local news programming, making substantial investments in news operations to capitalize on advertising inventory during its newscasts.
- In late 2024, the company realigned its sales management structure and increased the size of its media sales team and it is our current intention that this will continue in 2025.
- Media segment net revenue increased 30% for the fourth quarter 2024 and increased 13% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- Advertising Technology & Services segment net revenue increased 49% for the fourth quarter 2024 and increased 42% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- Media segment operating profit increased 62% for the fourth quarter 2024 and declined 4% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- Advertising Technology & Services segment operating profit increased 39% for the fourth quarter 2024 and increased over 1,000% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- Corporate expenses decreased 48% for the fourth quarter 2024 and decreased 25% for the year ended December 31, 2024 over the respective prior fourth quarter and year ended periods.
- The company incurred an impairment charge of $61.2 million for the year ended December 31, 2024.
- The company made prepayments of $20 million under its credit facility during 2024.
- Total leverage as defined in the company's credit agreement was 2.8 times as of December 31, 2024. Net of total cash and marketable securities, total leverage was 1.8 times.
- Entravision's board of directors approved a quarterly cash dividend to shareholders of $0.05 per share on the company's Class A and Class U common stock. The dividend is payable on March 31, 2025 to shareholders of record as of the close of business on March 17, 2025.
About Entravision Communications Corporation
Entravision is a media and advertising technology company. In the U.S., we maintain a diversified portfolio of television and radio stations and digital advertising services that target Latino audiences. Our advertising technology business consists of Smadex, our programmatic ad purchasing platform, and Adwake, our mobile growth solutions business. Entravision is the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.
Forward-Looking Statements
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission.
Entravision Communications Corporation Segment Results (Unaudited) (In thousands) |
||||||||||||||||||||||||
|
|
Three-Month Ended
|
|
|
|
|
Year Ended
|
|
|
|
||||||||||||||
|
|
2024 |
|
2023 |
|
% Change |
|
|
2024 |
|
2023 |
|
% Change |
|
||||||||||
Net Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
$ |
67,260 |
|
|
$ |
51,654 |
|
|
|
30 |
% |
|
$ |
222,061 |
|
|
$ |
196,268 |
|
|
|
13 |
% |
Advertising Technology & Services |
|
|
39,702 |
|
|
|
26,602 |
|
|
|
49 |
% |
|
|
142,887 |
|
|
|
100,775 |
|
|
|
42 |
% |
Consolidated |
|
|
106,962 |
|
|
|
78,256 |
|
|
|
37 |
% |
|
|
364,948 |
|
|
|
297,043 |
|
|
|
23 |
% |
Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
$ |
4,838 |
|
|
$ |
3,291 |
|
|
|
47 |
% |
|
$ |
16,726 |
|
|
$ |
10,952 |
|
|
|
53 |
% |
Advertising Technology & Services |
|
|
23,475 |
|
|
|
16,013 |
|
|
|
47 |
% |
|
|
85,470 |
|
|
|
66,262 |
|
|
|
29 |
% |
Consolidated |
|
|
28,313 |
|
|
|
19,304 |
|
|
|
47 |
% |
|
|
102,196 |
|
|
|
77,214 |
|
|
|
32 |
% |
Direct operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
|
28,583 |
|
|
|
24,921 |
|
|
|
15 |
% |
|
|
110,988 |
|
|
|
96,925 |
|
|
|
15 |
% |
Advertising Technology & Services |
|
|
8,505 |
|
|
|
4,150 |
|
|
|
105 |
% |
|
|
25,274 |
|
|
|
16,306 |
|
|
|
55 |
% |
Consolidated |
|
|
37,088 |
|
|
|
29,071 |
|
|
|
28 |
% |
|
|
136,262 |
|
|
|
113,231 |
|
|
|
20 |
% |
Selling, general and administrative expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
|
12,159 |
|
|
|
8,961 |
|
|
|
36 |
% |
|
|
42,759 |
|
|
|
36,000 |
|
|
|
19 |
% |
Advertising Technology & Services |
|
|
4,900 |
|
|
|
3,437 |
|
|
|
43 |
% |
|
|
20,109 |
|
|
|
13,761 |
|
|
|
46 |
% |
Consolidated |
|
|
17,059 |
|
|
|
12,398 |
|
|
|
38 |
% |
|
|
62,868 |
|
|
|
49,761 |
|
|
|
26 |
% |
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
|
3,135 |
|
|
|
3,013 |
|
|
|
4 |
% |
|
|
12,891 |
|
|
|
11,975 |
|
|
|
8 |
% |
Advertising Technology & Services |
|
|
637 |
|
|
|
1,431 |
|
|
|
(55 |
)% |
|
|
3,930 |
|
|
|
4,417 |
|
|
|
(11 |
)% |
Consolidated |
|
|
3,772 |
|
|
|
4,444 |
|
|
|
(15 |
)% |
|
|
16,821 |
|
|
|
16,392 |
|
|
|
3 |
% |
Segment operating profit (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
|
18,545 |
|
|
|
11,468 |
|
|
|
62 |
% |
|
|
38,697 |
|
|
|
40,416 |
|
|
|
(4 |
)% |
Advertising Technology & Services |
|
|
2,185 |
|
|
|
1,571 |
|
|
|
39 |
% |
|
|
8,104 |
|
|
|
29 |
|
|
* |
|
|
Consolidated |
|
|
20,730 |
|
|
|
13,039 |
|
|
|
59 |
% |
|
|
46,801 |
|
|
|
40,445 |
|
|
|
16 |
% |
Corporate expenses |
|
|
7,509 |
|
|
|
14,458 |
|
|
|
(48 |
)% |
|
|
37,498 |
|
|
|
50,294 |
|
|
|
(25 |
)% |
Change in fair value of contingent consideration |
|
|
1 |
|
|
|
200 |
|
|
|
(100 |
)% |
|
|
(629 |
) |
|
|
821 |
|
|
* |
|
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
399 |
% |
|
|
61,220 |
|
|
|
13,267 |
|
|
|
361 |
% |
Foreign currency (gain) loss |
|
|
572 |
|
|
|
676 |
|
|
|
(15 |
)% |
|
|
692 |
|
|
|
1,950 |
|
|
|
(65 |
)% |
Other operating (gain) loss |
|
|
— |
|
|
|
609 |
|
|
|
(100 |
)% |
|
|
— |
|
|
|
609 |
|
|
|
(100 |
)% |
Operating income (loss) |
|
|
(48,572 |
) |
|
|
(15,182 |
) |
|
|
220 |
% |
|
|
(51,980 |
) |
|
|
(26,496 |
) |
|
|
96 |
% |
Interest expense |
|
|
(3,824 |
) |
|
|
(4,369 |
) |
|
|
(12 |
)% |
|
|
(16,472 |
) |
|
|
(16,833 |
) |
|
|
(2 |
)% |
Interest income |
|
|
657 |
|
|
|
1,009 |
|
|
|
(35 |
)% |
|
|
2,458 |
|
|
|
3,405 |
|
|
|
(28 |
)% |
Dividend income |
|
|
— |
|
|
|
3 |
|
|
|
(100 |
)% |
|
|
10 |
|
|
|
35 |
|
|
|
(71 |
)% |
Realized gain (loss) on marketable securities |
|
|
— |
|
|
|
1 |
|
|
|
(100 |
)% |
|
|
(110 |
) |
|
|
(93 |
) |
|
|
18 |
% |
Gain (loss) on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
* |
|
|
|
(91 |
) |
|
|
(1,556 |
) |
|
|
(94 |
)% |
|
Income (loss) before income taxes from continuing operations |
|
$ |
(51,739 |
) |
|
$ |
(18,538 |
) |
|
|
179 |
% |
|
$ |
(66,185 |
) |
|
$ |
(41,538 |
) |
|
|
59 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Capital expenditures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Media |
|
$ |
2,543 |
|
|
$ |
6,148 |
|
|
|
|
|
$ |
7,089 |
|
|
$ |
21,208 |
|
|
|
|
||
Advertising Technology & Services |
|
|
74 |
|
|
|
1,043 |
|
|
|
|
|
|
372 |
|
|
|
3,643 |
|
|
|
|
||
Consolidated |
|
$ |
2,617 |
|
|
$ |
7,191 |
|
|
|
|
|
$ |
7,461 |
|
|
$ |
24,851 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Entravision Communications Corporation Consolidated Statements of Operations (Unaudited) (In thousands, except share and per share data) |
||||||||||||||||
|
|
Three-Month Period |
|
Twelve-Month Period |
||||||||||||
|
|
Ended December 31, |
|
Ended December 31, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net revenue |
|
$ |
106,962 |
|
|
$ |
78,256 |
|
|
$ |
364,948 |
|
|
$ |
297,043 |
|
Expenses: |
|
|
|
|
|
|
|
|
||||||||
Cost of revenue |
|
|
28,313 |
|
|
|
19,304 |
|
|
|
102,196 |
|
|
|
77,214 |
|
Direct operating expenses |
|
|
37,088 |
|
|
|
29,071 |
|
|
|
136,262 |
|
|
|
113,231 |
|
Selling, general and administrative expenses |
|
|
17,059 |
|
|
|
12,398 |
|
|
|
62,868 |
|
|
|
49,761 |
|
Corporate expenses |
|
|
7,509 |
|
|
|
14,458 |
|
|
|
37,498 |
|
|
|
50,294 |
|
Depreciation and amortization |
|
|
3,772 |
|
|
|
4,444 |
|
|
|
16,821 |
|
|
|
16,392 |
|
Change in fair value of contingent consideration |
|
|
1 |
|
|
|
200 |
|
|
|
(629 |
) |
|
|
821 |
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
61,220 |
|
|
|
13,267 |
|
Foreign currency (gain) loss |
|
|
572 |
|
|
|
676 |
|
|
|
692 |
|
|
|
1,950 |
|
Other operating (gain) loss |
|
|
— |
|
|
|
609 |
|
|
|
— |
|
|
|
609 |
|
|
|
|
155,534 |
|
|
|
93,438 |
|
|
|
416,928 |
|
|
|
323,539 |
|
Operating income (loss) |
|
|
(48,572 |
) |
|
|
(15,182 |
) |
|
|
(51,980 |
) |
|
|
(26,496 |
) |
Interest expense |
|
|
(3,824 |
) |
|
|
(4,369 |
) |
|
|
(16,472 |
) |
|
|
(16,833 |
) |
Interest income |
|
|
657 |
|
|
|
1,009 |
|
|
|
2,458 |
|
|
|
3,405 |
|
Dividend income |
|
|
— |
|
|
|
3 |
|
|
|
10 |
|
|
|
35 |
|
Realized gain (loss) on marketable securities |
|
|
— |
|
|
|
1 |
|
|
|
(110 |
) |
|
|
(93 |
) |
Gain (loss) on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
|
(91 |
) |
|
|
(1,556 |
) |
Income before income taxes |
|
|
(51,739 |
) |
|
|
(18,538 |
) |
|
|
(66,185 |
) |
|
|
(41,538 |
) |
Income tax (expense) benefit |
|
|
(3,932 |
) |
|
|
5,337 |
|
|
|
(4,105 |
) |
|
|
8,392 |
|
Net income (loss) from continuing operations |
|
|
(55,671 |
) |
|
|
(13,201 |
) |
|
|
(70,290 |
) |
|
|
(33,146 |
) |
Income (loss) from discontinued operations |
|
|
(687 |
) |
|
|
(5,007 |
) |
|
|
(78,618 |
) |
|
|
17,709 |
|
Net income (loss) attributable to common stockholders |
|
$ |
(56,358 |
) |
|
$ |
(18,208 |
) |
|
$ |
(148,908 |
) |
|
$ |
(15,437 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Basic and diluted earnings (loss) per share: |
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per share attributable to common stockholders, basic and diluted |
|
$ |
(0.62 |
) |
|
$ |
(0.21 |
) |
|
$ |
(1.66 |
) |
|
$ |
(0.18 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Cash dividends declared per common share, basic and diluted |
|
$ |
0.05 |
|
|
$ |
0.05 |
|
|
$ |
0.20 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares outstanding, basic and diluted |
|
|
90,175,742 |
|
|
|
88,193,240 |
|
|
|
89,876,538 |
|
|
|
87,901,938 |
|
Entravision Communications Corporation Consolidated Balance Sheets (Unaudited) (In thousands) |
||||||||
|
|
December 31, |
|
December 31, |
||||
|
|
2024 |
|
2023 |
||||
ASSETS |
|
|
|
|
||||
Current assets |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
95,914 |
|
|
$ |
67,398 |
|
Marketable securities |
|
|
4,694 |
|
|
|
13,172 |
|
Restricted Cash |
|
|
786 |
|
|
|
770 |
|
Trade receivables, net of allowance for doubtful accounts |
|
|
68,319 |
|
|
|
70,082 |
|
Assets held for sale |
|
|
— |
|
|
|
301 |
|
Prepaid expenses and other current assets |
|
|
16,587 |
|
|
|
16,863 |
|
Current assets of discontinued operations |
|
|
— |
|
|
|
217,269 |
|
Total current assets |
|
|
186,300 |
|
|
|
385,855 |
|
Property and equipment, net |
|
|
60,616 |
|
|
|
66,932 |
|
Intangible assets subject to amortization, net |
|
|
4,417 |
|
|
|
7,100 |
|
Intangible assets not subject to amortization |
|
|
177,276 |
|
|
|
195,174 |
|
Goodwill |
|
|
7,352 |
|
|
|
50,674 |
|
Deferred income taxes |
|
|
2,650 |
|
|
|
265 |
|
Operating leases right of use asset |
|
|
40,762 |
|
|
|
42,868 |
|
Other assets |
|
|
7,905 |
|
|
|
21,223 |
|
Noncurrent assets of discontinued operations |
|
|
— |
|
|
|
95,855 |
|
Total assets |
|
$ |
487,278 |
|
|
$ |
865,946 |
|
|
|
|
|
|
||||
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
||||
Current liabilities |
|
|
|
|
||||
Current maturities of long-term debt |
|
$ |
- |
|
|
$ |
8,750 |
|
Accounts payable and accrued expenses |
|
|
53,882 |
|
|
|
47,776 |
|
Operating lease liabilities |
|
|
7,744 |
|
|
|
6,748 |
|
Current liabilities of discontinued operations |
|
|
— |
|
|
|
208,779 |
|
Total current liabilities |
|
|
61,626 |
|
|
|
272,053 |
|
Long-term debt, less current maturities, net of unamortized debt issuance costs |
|
|
186,958 |
|
|
|
197,884 |
|
Long-term operating lease liabilities |
|
|
42,101 |
|
|
|
45,178 |
|
Other long-term liabilities |
|
|
12,168 |
|
|
|
4,624 |
|
Deferred income taxes |
|
|
38,405 |
|
|
|
46,849 |
|
Noncurrent liabilities of discontinued operations |
|
|
— |
|
|
|
33,072 |
|
Total liabilities |
|
|
341,258 |
|
|
|
599,660 |
|
|
|
|
|
|
||||
Redeemable noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
43,758 |
|
|
|
|
|
|
||||
Stockholders' equity |
|
|
|
|
||||
Class A common stock |
|
|
8 |
|
|
|
8 |
|
Class U common stock |
|
|
1 |
|
|
|
1 |
|
Additional paid-in capital |
|
|
815,532 |
|
|
|
743,246 |
|
Accumulated deficit |
|
|
(668,720 |
) |
|
|
(519,812 |
) |
Accumulated other comprehensive income (loss) |
|
|
(801 |
) |
|
|
(915 |
) |
Total stockholders' equity |
|
|
146,020 |
|
|
|
222,528 |
|
Total liabilities, redeemable noncontrolling interest and equity |
|
$ |
487,278 |
|
|
$ |
865,946 |
|
Entravision Communications Corporation Consolidated Statements of Cash Flows (Unaudited) (In thousands) |
||||||||||||||||
|
|
Three-Month Period |
|
Twelve-Month Period |
||||||||||||
|
|
Ended December 31, |
|
Ended December 31, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
||||||||
Net income (loss) |
|
$ |
(56,358 |
) |
|
$ |
(18,208 |
) |
|
$ |
(148,908 |
) |
|
$ |
(15,437 |
) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
|
3,772 |
|
|
|
7,671 |
|
|
|
20,779 |
|
|
|
28,007 |
|
Impairment charge |
|
|
61,220 |
|
|
|
12,278 |
|
|
|
110,658 |
|
|
|
13,267 |
|
Deferred income taxes |
|
|
(6,995 |
) |
|
|
(10,796 |
) |
|
|
(10,281 |
) |
|
|
(10,965 |
) |
Non-cash interest |
|
|
61 |
|
|
|
91 |
|
|
|
284 |
|
|
|
355 |
|
Amortization of syndication contracts |
|
|
111 |
|
|
|
113 |
|
|
|
450 |
|
|
|
471 |
|
Payments on syndication contracts |
|
|
(114 |
) |
|
|
(114 |
) |
|
|
(451 |
) |
|
|
(480 |
) |
Non-cash stock-based compensation |
|
|
1,426 |
|
|
|
6,645 |
|
|
|
13,848 |
|
|
|
23,698 |
|
(Gain) loss on marketable securities |
|
|
— |
|
|
|
(1 |
) |
|
|
110 |
|
|
|
93 |
|
(Gain) loss on disposal of property and equipment |
|
|
71 |
|
|
|
748 |
|
|
|
277 |
|
|
|
737 |
|
Loss (gain) on the sale of businesses |
|
|
48 |
|
|
|
— |
|
|
|
45,187 |
|
|
|
— |
|
(Gain) loss on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
|
91 |
|
|
|
1,556 |
|
Change in fair value of contingent consideration |
|
|
— |
|
|
|
6,400 |
|
|
|
(13,198 |
) |
|
|
(2,539 |
) |
Net income (loss) attributable to redeemable noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
157 |
|
|
|
(2,779 |
) |
|
|
158 |
|
Net income (loss) attributable to noncontrolling interest - discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(342 |
) |
Changes in assets and liabilities, net of businesses acquired and disposed of: |
|
|
|
|
|
|
|
|
||||||||
(Increase) decrease in trade receivables, net |
|
|
(519 |
) |
|
|
(25,508 |
) |
|
|
10,092 |
|
|
|
(9,247 |
) |
(Increase) decrease in prepaid expenses and other current assets, operating leases right of use asset and other assets |
|
|
11,806 |
|
|
|
15,025 |
|
|
|
9,878 |
|
|
|
7,826 |
|
Increase (decrease) in accounts payable, accrued expenses and other liabilities |
|
|
(1,746 |
) |
|
|
11,578 |
|
|
|
38,668 |
|
|
|
38,038 |
|
Net cash provided by operating activities |
|
|
12,783 |
|
|
|
6,079 |
|
|
|
74,705 |
|
|
|
75,196 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
||||||||
Proceeds from sale of assets/business, net of cash divested |
|
|
2,486 |
|
|
|
175 |
|
|
|
(40,481 |
) |
|
|
258 |
|
Purchases of property and equipment |
|
|
(2,174 |
) |
|
|
(7,446 |
) |
|
|
(8,463 |
) |
|
|
(27,327 |
) |
Purchase of businesses, net of cash acquired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(6,930 |
) |
Purchases of marketable securities |
|
|
(2,303 |
) |
|
|
— |
|
|
|
(2,303 |
) |
|
|
(11,355 |
) |
Proceeds from sale of marketable securities |
|
|
408 |
|
|
|
5,242 |
|
|
|
10,789 |
|
|
|
43,335 |
|
Proceeds from loan receivable |
|
|
2,888 |
|
|
|
— |
|
|
|
13,636 |
|
|
|
— |
|
Purchases of investments |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(300 |
) |
Issuance of loan receivable |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(13,636 |
) |
Net cash provided by (used in) investing activities |
|
|
1,305 |
|
|
|
(2,029 |
) |
|
|
(26,822 |
) |
|
|
(15,955 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
||||||||
Proceeds from stock option exercises |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
554 |
|
Tax payments related to shares withheld for share-based compensation plans |
|
|
(2,537 |
) |
|
|
(3,899 |
) |
|
|
(2,564 |
) |
|
|
(4,057 |
) |
Payments on debt |
|
|
— |
|
|
|
(1,250 |
) |
|
|
(20,275 |
) |
|
|
(215,745 |
) |
Dividends paid |
|
|
(4,504 |
) |
|
|
(4,406 |
) |
|
|
(17,975 |
) |
|
|
(17,588 |
) |
Distributions to noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
(1,078 |
) |
|
|
(3,380 |
) |
Payment of contingent consideration |
|
|
(1,350 |
) |
|
|
— |
|
|
|
(15,650 |
) |
|
|
(35,113 |
) |
Principal payments under finance lease obligation |
|
|
(38 |
) |
|
|
(39 |
) |
|
|
(148 |
) |
|
|
(152 |
) |
Proceeds from borrowings on debt |
|
|
— |
|
|
|
667 |
|
|
|
— |
|
|
|
213,087 |
|
Payments for debt issuance costs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,777 |
) |
Net cash used in financing activities |
|
|
(8,429 |
) |
|
|
(8,927 |
) |
|
|
(57,690 |
) |
|
|
(64,171 |
) |
Effect of exchange rates on cash, cash equivalents and restricted cash |
|
|
— |
|
|
|
(3 |
) |
|
|
(2 |
) |
|
|
(5 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
|
|
5,659 |
|
|
|
(4,880 |
) |
|
|
(9,809 |
) |
|
|
(4,935 |
) |
Cash, cash equivalents and restricted cash: |
|
|
|
|
|
|
|
|
||||||||
Beginning |
|
|
91,041 |
|
|
|
111,389 |
|
|
|
106,509 |
|
|
|
111,444 |
|
Ending |
|
$ |
96,700 |
|
|
$ |
106,509 |
|
|
$ |
96,700 |
|
|
$ |
106,509 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250306185087/en/
For more information, please contact:
Mark Boelke
Chief Financial Officer
Entravision
310-447-3870
[email protected]
Roy Nir
VP, Financial Reporting and Investor Relations
Entravision
310-447-3870
[email protected]