ENTRAVISION COMMUNICATIONS CORP Q2 FY2024 earnings call

• Completed divestiture of digital platform representation business to Aleph Group on June 28, including operations in 32 countries with over 320 people. Also sold controlling interest in Adsmurai on May 6.
• Focus now on core U.S. media business; invested in expanding news production capabilities with morning, midday, early evening, and late news in all markets, and weekend news in key markets.
• Invested in sales organization to engage with political decision makers.
• Made significant investments in Smadex and Adwake to improve platforms and operational capabilities; both growing faster than industry rates and profitable.

Digital Segment

• Revenue for Q2 2024: $41.1 million, up 36% compared to Q2 2023.
• Operating margin: 6% in Q2 2024, compared to negative 1% in Q2 2023. Revenue contribution: Calculated based on total consolidated revenue of $82.7 million, so ~49.7% of total revenue.

Television Segment

• Revenue for Q2 2024: $28.6 million, down 5% compared to Q2 2023.
• Operating profit: $3.1 million, down 59% compared to Q2 2023. Revenue contribution: ~34.6% of total revenue.

Audio Segment

• Revenue for Q2 2024: $13 million, down 4% compared to Q2 2023.
• Operating profit: $1.9 million, up 21% compared to Q2 2023. Revenue contribution: ~15.7% of total revenue.

• Third quarter revenue for Digital segment pacing +17% compared to Q3 2023.
• Third quarter revenue for Television segment pacing +9% compared to Q3 2023, expected to increase as political advertising picks up.
• Third quarter revenue for Audio segment pacing flat compared to Q3 2023, expected to increase as political advertising picks up.
• Board of Directors approved a $0.05 dividend per share for Q3 2024, payable on September 30.

• This call contains forward-looking statements subject to risks and uncertainties; refer to Entravision’s SEC filings for list of risks impacting actual results.

Q: A: Q: A: