Townsquare Media, Inc.
- Open
- 7.12
- Day high
- 7.20
- Day low
- 6.97
- Prev close
- 7.07
- Volume
- 4K
- Mkt cap
- $128M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -3.2
- P/S
- 0.3
- Yield
- 2.81%
- Per share
- $0.20
- ▼Insiders net selling -$769K over the last 3 months (1 open-market buy, 5 sales)
- 🏛Institutions reducing (13F)
Townsquare Media, Inc. (TSQ) is a Communication Services company listed on NYSE. The stock is down 12% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 5 sales (SEC Form 4).
Townsquare Media, Inc. (TSQ) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TSQ earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 11, 2026 | $-0.12 | $-0.16 | -33.3% | $97M | +0.3% |
| Mar 16, 2026 | $0.11 | $0.05 | -54.5% | $106M | +11.1% |
| Aug 6, 2025 | $0.21 | $0.22 | +4.8% | $115M | +4.0% |
| May 8, 2025 | $-0.05 | $-0.05 | +0.0% | $99M | -14.8% |
| Mar 17, 2025 | $0.53 | $0.60 | +13.2% | $118M | +1.2% |
| Nov 7, 2024 | $0.35 | $0.35 | +0.0% | $115M | +0.3% |
| May 9, 2024 | $0.06 | $0.03 | -50.0% | $100M | -15.5% |
| Mar 15, 2024 | $0.26 | $0.34 | +30.8% | $115M | +2.6% |
| Nov 9, 2023 | $0.30 | $0.46 | +53.3% | $115M | +3.0% |
| Mar 9, 2023 | $0.52 | $0.66 | +26.9% | $120M | +2.1% |
| Nov 9, 2022 | $0.59 | $0.47 | -20.3% | $121M | -1.4% |
| Aug 2, 2022 | $0.63 | $0.71 | +12.7% | $122M | +3.5% |
TSQ insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 11, 2026 | Hellum Erikofficer: COO | Sell | 35,000 | $6.44 |
| May 29, 2026 | WORSHEK ROBERT L.officer: SVP, Chief Accounting Officer | Grant | 34,299 | $6.56 |
| May 29, 2026 | WORSHEK ROBERT L.officer: SVP, Chief Accounting Officer | Grant | 250,000 | $6.56 |
| May 29, 2026 | WORSHEK ROBERT L.officer: SVP, Chief Accounting Officer | Grant | 280,129 | $6.56 |
| May 29, 2026 | WORSHEK ROBERT L.officer: SVP, Chief Accounting Officer | Sell | 34,299 | $6.62 |
| May 20, 2026 | Yenicay Claire Marieofficer: EVP, Inv Rel and Corp Comm | Grant | 53,151 | $6.03 |
| May 20, 2026 | Yenicay Claire Marieofficer: EVP, Inv Rel and Corp Comm | Sell | 15,718 | $6.04 |
| May 20, 2026 | Yenicay Claire Marieofficer: EVP, Inv Rel and Corp Comm | Sell | 17,717 | $6.05 |
| May 20, 2026 | Yenicay Claire Marieofficer: EVP, Inv Rel and Corp Comm | Sell | 19,716 | $6.09 |
| May 6, 2026 | Schatz Scottofficer: EVP, Finance Op and Tech | Buy | 943 | $6.51 |
| Mar 24, 2026 | Schatz Scottofficer: EVP, Finance Op and Tech | Sell | 21,090 | $5.02 |
| Mar 24, 2026 | Schatz Scottofficer: EVP, Finance Op and Tech | Sell | 34,836 | $5.25 |
| Mar 20, 2026 | Schatz Scottofficer: EVP, Finance Op and Tech | Grant | 84,906 | $5.83 |
| Mar 20, 2026 | Schatz Scottofficer: EVP, Finance Op and Tech | Sell | 28,980 | $5.08 |
| Feb 20, 2026 | Hellum Erikofficer: COO | Sell | 20,106 | $6.58 |
Source: TSQ SEC Form 4 filings, latest Jun 11, 2026. For informational purposes only — not investment advice.
See the full TSQ insider & 13F page →Townsquare Media, Inc. company profile
Overview
Townsquare Media, Inc. (NASDAQ:TSQ) is a digital media and marketing solutions company that has transformed from a traditional radio broadcaster into a digitally-focused local media enterprise. Founded in 1996 as Regent Communications and rebranded as Townsquare Media in 2010, the company went public in 2014. Headquartered in Purchase, New York, Townsquare operates primarily in small and medium-sized markets outside the top 50 U.S. cities, providing digital marketing services to local businesses while maintaining a portfolio of radio stations and live events.
Business
Townsquare Media operates as a local digital media and marketing solutions provider serving small and medium-sized businesses across three main segments: 1. **Subscription Digital Marketing Solutions (Townsquare Interactive)** - This segment provides comprehensive digital marketing services to approximately 24,000 small business subscribers. Services include website design and hosting, search engine optimization (SEO), online directory management, e-commerce solutions, social media management, online reputation monitoring, email marketing, appointment scheduling, payment processing, and customer relationship management (CRM). The company recently launched a new SaaS-based business management platform that integrates these services into a unified solution for small businesses. 2. **Digital Advertising (Townsquare Ignite)** - Representing approximately 35% of total company revenue, this segment operates digital advertising platforms that serve local, regional, and national advertisers. The division specializes in programmatic advertising, which uses automated systems to buy and place digital ads across websites and mobile applications. Townsquare leverages first-party data from its radio stations and digital properties to provide targeted advertising solutions. The company has also launched a Media Partnership Program, white-labeling its digital advertising solutions to other broadcasters. 3. **Broadcast Advertising** - The traditional radio broadcasting segment owns and operates 322 radio stations across 67 local markets, along with approximately 330 local websites. This segment generates revenue by selling advertising spots to local, regional, and national advertisers. While this remains a significant revenue source, it's viewed as a mature, slowly declining business that serves as a cash generator to fund digital growth initiatives. The company also operates approximately 200 live events annually, including concerts and expositions, though this represents a minimal portion of overall revenue. Digital solutions now account for over 50% of total revenue, marking the company's successful transformation from traditional broadcasting to digital-first operations.
Revenue model
Townsquare Media generates revenue through multiple business models across its three segments: **Subscription Revenue Model**: The Interactive segment operates on a monthly subscription basis, charging small businesses approximately $300 per month per subscriber for comprehensive digital marketing services. With around 24,000 subscribers, this creates a recurring revenue stream that provides predictable cash flow. The company has been expanding this model with new SaaS offerings that can command higher pricing. **Advertising Commission and Service Fees**: The Digital Advertising segment earns revenue by selling programmatic advertising space and taking commissions on ad placements. The company leverages its first-party data and local market expertise to command premium pricing for targeted advertising solutions. The Media Partnership Program generates additional revenue by white-labeling these services to other broadcasters. **Traditional Advertising Sales**: The Broadcast segment generates revenue through the sale of radio advertising spots to local, regional, and national advertisers, operating on traditional CPM (cost per thousand listeners) and sponsorship models. **Factors Affecting Margins**: Several factors influence the company's profitability. **Positive margin drivers** include the scalability of digital platforms, high-margin programmatic advertising growth, recurring subscription revenue, and the company's focus on smaller markets with less competition. **Negative margin pressures** come from the ongoing decline in traditional broadcast advertising, macroeconomic pressures affecting small business advertising budgets, increased competition in digital marketing services, and the need for continuous technology investment. The company's margins also benefit from operating in markets outside the top 50 cities, where competition is less intense and local relationships provide competitive advantages. Political advertising provides periodic revenue boosts during election cycles, though this creates some volatility in quarterly results.
Competitive moat
Townsquare Media's competitive moat is **moderate but geographically specific**. The company's primary advantage lies in its dominant local market positions in smaller U.S. cities outside the top 50 markets, where it faces limited competition from larger digital marketing agencies and national broadcasters. This geographic focus creates several defensive characteristics: deep local market knowledge, established relationships with local businesses, and integrated cross-platform solutions that combine radio, digital, and live events. The company's **first-party data advantage** from its radio stations provides valuable audience insights that enhance its digital advertising targeting capabilities. Additionally, over 85% of its broadcast advertisers also use digital services, creating cross-selling opportunities and customer stickiness. The recurring subscription model in the Interactive segment provides some revenue stability and switching costs for small business customers. However, the moat faces **significant challenges**. The traditional broadcast advertising business is in structural decline, and digital marketing is a highly competitive space with low barriers to entry. Large technology companies like Google, Facebook, and Amazon offer competing digital marketing solutions, often at lower prices or with more sophisticated capabilities. The company's small business customer base is also economically sensitive, making them prone to reducing marketing spend during economic downturns. **Disruption risks** include the continued shift of advertising dollars to major digital platforms, the potential for artificial intelligence to automate many digital marketing functions, and the possibility that larger competitors could expand into Townsquare's smaller markets. While the company's local market focus provides some protection, this advantage may erode as digital marketing becomes increasingly automated and less dependent on local relationships.
Risks & safety
**Overall Assessment**: Townsquare Media presents a **moderate to high financial risk** profile with limited margin of safety. **Cash and Debt Concerns**: - Cash position of $5.5 million is critically low relative to operations - Negative free cash flow of -$4.5 million in Q1 2025 - High net leverage ratio around 4.8x EBITDA - Total liabilities of $571 million exceed total assets of $545 million - Current ratio below 1.0 indicates potential liquidity stress **Valuation Metrics**: - EV/EBITDA of 16x appears elevated for a declining traditional media company - Negative book value results in meaningless price-to-book ratios - Graham Net-Net value is deeply negative at -33%, indicating no asset protection **Other Considerations**: - Company refinanced debt extending maturities to 2030, providing some breathing room - High dividend yield of 11.5% may not be sustainable given cash flow challenges - Political advertising provides periodic revenue boosts but creates earnings volatility - Digital transformation progress provides some upside potential but execution risk remains high
Recent development
Over the past few years, Townsquare Media has undergone a **strategic transformation from traditional radio broadcaster to digital-first local media company**. The most significant development has been the company's digital revenue growing to represent over 50% of total revenue, with management targeting this to become the majority of business operations. **Key strategic initiatives include**: The launch of the Media Partnership Program, which white-labels Townsquare's digital advertising solutions to other broadcasters, with management targeting $50 million in revenue over 3-5 years. The company has signed multiple partnership agreements and views this as a significant growth opportunity without requiring additional capital investment. **Product innovation** has centered around Townsquare Interactive's new SaaS-based business management platform, which integrates CRM, email marketing, appointment scheduling, payment processing, and invoicing services for small businesses. This represents an evolution from simple website hosting to comprehensive business management solutions, potentially commanding higher subscription fees. **Financial repositioning** has been another major focus, with the company successfully refinancing its debt to extend maturities to 2030, providing financial flexibility. Despite cash flow challenges, management has maintained an aggressive capital return strategy, repurchasing approximately $24 million in shares and $36 million in bonds while maintaining a high-yield dividend. **Operational focus** has shifted toward programmatic digital advertising, which now represents 60% of digital advertising revenue and has shown consistent growth. The company has also expanded geographically by opening a second Townsquare Interactive office in Phoenix and has been selective about potential acquisitions in its core markets outside the top 50 cities.
TSQ company profile · for informational purposes only — not investment advice.
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