Salem Media Group Inc. (NASDAQ:SALM) Q1 2022 Earnings Conference Call May 10, 2022 4:00 PM ET

Company Participants

Evan Masyr - Chief Financial Officer

David Santrella - Chief Executive Officer

David Evans - Chief Operating Officer

Conference Call Participants

Michael Kupinski - NOBLE Capital Markets

Lisa Springer - Singular Research

Barry Sine - Spartan Capital

Edward Riley - EF Hutton

Operator

Greetings, and welcome to the Salem Media Group, Inc Q1 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. Evan Masyr, CFO.

Please go ahead, sir.

Evan Masyr

Thank you, and thank you all for joining us today for Salem Media Group's First Quarter 2022 Earnings Call. As a reminder, if you get disconnected at any time, you can dial back in or listen from our website at www.salemmedia.com. In the room with me today is David Santrella, Chief Executive Officer. David Evans, Chief Operating Officer, is traveling this week but is on the phone as well.

We'll begin in just a moment with our prepared remarks. Once we are done, the conference call operator will come back on the line to instruct you on how to submit questions.

Please be advised that statements made on this call that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available information. Actual results may differ materially from those anticipated, and reported results should not be considered an indication of future performance. We do not intend and undertake no obligation to update our forward-looking statements, including forecasts of future performance, the potential for growth of existing markets, the opening of new markets or the potential growth from future acquisitions.

This conference call also contains non-GAAP financial measures within the meaning of Regulation G, specifically station operating income or SOI, EBITDA, adjusted EBITDA and adjusted free cash flow. In conformity with Regulation G, information required to accompany the disclosure of non-GAAP financial measures is available on the Investor Relations portion of the company's website at salemmedia.com.

And I would now like to turn the call over to David Santrella. Dave?

David Santrella

Thanks, Evan, and thanks to all of you for being on today's call. In my prepared remarks, I'll focus on our Q1 financial results, including our continued growth in digital, provide an update on M&A and conclude with the discussion of our recently released movie produced in collaboration with Dinesh D'Souza and True The Vote. I'll then turn the call back to Evan, who will provide more detail on first quarter financial performance, and Evan will give guidance for Q2.