Saga Communications released its 2025 Q1 financial report today for January through March.

Saga reported net revenue decreased 4.3% to $24.2 million year-over-year. Station operating expense decreased 2.2% for the quarter to $22.0 million compared to the same period last year. For the quarter, operating loss was $2.3 million compared to an operating loss of $2.4 million for the same quarter last year and station operating income (a non-GAAP financial measure) decreased to $2.2 million from $2.8 million for the same period last year. Capital expenditures were $700 thousand for the quarter compared to $1.1 million for the same period last year. Saga had a net loss of $1.6 million for the quarter consistent with the same period last year. Diluted loss per share was $0.25 in the first quarter of 2025.

Saga says revenue pacing for the second quarter remains uncertain but is improving as the quarter progresses stating they are currently pacing down mid single digits. April was down high single digits. May improved to being down low single digits and June is approximately flat with the same period last year.

Saga says its balance sheet reflects $27.0 million in cash and short-term investments as of March 31, 2025 and $27.2 million as of May 5, 2025. The company expects to spend approximately $4.0 – $4.5 million for capital expenditures during 2025.