Townsquare Media, Inc. (NYSE:TSQ) Q1 2023 Earnings Conference Call May 10, 2023 8:00 AM ET

Company Participants

Claire Yenicay – Executive Vice President

Bill Wilson – Chief Executive Officer

Stuart Rosenstein – Executive Vice President and Chief Financial Officer

Conference Call Participants

Michael Kupinski – Noble Capital Markets

Jim Goss – Barrington Research

Operator

Good morning. And welcome to Townsquare Media’s First Quarter 2023 Conference Call. As a reminder, today’s call is being recorded and your participation implies consent to do such recording. At this time, all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

With that, I would like to introduce to you the first speaker for today’s call, Claire Yenicay, Executive Vice President.

Claire Yenicay

Thank you, operator. And good morning to everyone. Thank you for joining us today for Townsquare’s first quarter financial update.

With me on the call today are Bill Wilson, our CEO; and Stuart Rosenstein, our CFO and Executive Vice President.

Please note that, during this call, we may make statements that provide information other than historical information, including statements relating to the company’s future expectations, plans and prospects. These statements are considered forward-looking statements under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially from these statements. These statements reflect the company’s beliefs based on current conditions, but are subject to certain risks and uncertainties, including those that are detailed in the company’s annual report on Form 10-K filed with the SEC.

We may also discuss certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and adjusted operating income, which we may refer to as profit in our remarks. Such non-GAAP financial measures should be used in conjunction with all the information contained in the quarterly, year-end and current reports available on our website. I would also encourage all participants to go to our corporate website and download our investor presentation, as Bill will reference some of those slides during our discussion this morning.

At this time, I would like to turn the call over to Bill Wilson.

Bill Wilson

Thank you, Claire. And thank you all for joining us this morning. We are pleased to share our first quarter results with you today.

Although we face the same headwinds that have impacted the entire media sector, our first quarter results demonstrate the strength of our Digital Advertising platform and solutions and validate our Digital First Local Media strategy with a focus exclusively on local markets outside of the top 50.