It may very well be the final look at a quarterly earnings report from Salem Media Group, as the company announced late yesterday that it is going private.
Just how did the purveyor of Christian-themed and conservative secular spoken word content do in the first three months of 2026? A lower net loss was seen, however net revenue dipped. It was a big cut in operating expenses that soften the weak quarter.
For the quarter ending March 31, 2026, Salem’s net revenue moved to $45.89 million from $51.7 million, as total operating expenses were chopped to $48.39 million from $61.01 million.
Thank the deletion of some $3.69 million in restructuring costs for that line-item expense improvement, as it helped Salem achieve a $2.57 million net loss ($0.08 per share) in Q1, compared to a $7.13 million net loss ($0.24) a year earlier.
The adjusted EBITDA loss improved to -$691,000, from $4.66 million.
What are the biggest sources of revenue by category for Salem? Evan Masyr, its Chief Financial Officer, breaks it down:
Notably, Digital revenue experienced a decline in Q1 2026 to $19.7 million, from $18.13 million.
