Bright Mountain Media Q3 revenue falls 17%, net loss widens
BMTM•Bright Mountain Media's third-quarter revenue fell 17% year over year to $11.62 million, while its net loss widened 6% to $3.01 million. Adjusted EBITDA rose 10% to $1.46 million.
1. Quarterly results
Bright Mountain Media reported third-quarter revenue of $11.62 million, down 17% year over year, and a net loss of $3.01 million, which widened 6%. Adjusted EBITDA increased 10% to $1.46 million, and operating income was $221,000.
2. Cost reductions
The company attributed the revenue decline to portfolio optimization initiatives and broader market conditions. General and administrative expenses decreased 37%, contributing to improved operating performance.
3. No specific guidance
Bright Mountain Media did not provide specific guidance for the current quarter or full year in its press release. Its CEO cited efforts to streamline operations and invest in AI-driven capabilities as positioning the company for long-term value.
