Cumulus Media Inc. (NASDAQ:CMLS) Q2 2022 Earnings Conference Call August 3, 2022 4:30 PM ET

Company Participants

Collin Jones - Executive Vice President of Strategy and Development

Mary Berner - President and Chief Executive Officer

Frank Lopez-Balboa - Chief Financial Officer

Conference Call Participants

Dan Day - B. Riley Securities

Pat McCann - Noble Capital Markets

Jim Goss - Barrington Research

Avi Steiner - JPMorgan

Operator

Welcome to the Cumulus Media Quarterly Earnings Conference Call. I will now turn it over to Collin Jones, Executive Vice President of Strategy and Development. Sir, you may proceed.

Collin Jones

Thank you, operator. Welcome, everyone, to our Second Quarter 2022 Earnings Conference Call. I'm joined today by our President and CEO, Mary Berner; and our CFO, Frank Lopez-Balboa.

Before we start, please note that certain statements in today's press release and discussed on this call may constitute forward-looking statements under federal securities laws. Actual results may differ materially from the results expressed or implied in forward-looking statements. These statements are based on management's current assessments and assumptions, and they are subject to a number of risks and uncertainties.

In addition, we will also use certain non-GAAP financial measures. We believe the supplementary information is useful to investors, although it should not be considered superior to the measures presented in accordance with GAAP. A full description of these risks, as well as financial reconciliations to non-GAAP terms are in our press release and SEC filings.

The press release can be found in the Investor Relations portion of our website and our Form 10-Q was also filed with the SEC shortly before this call. We also posted a Q2 investor update to our website, which we encourage you to download if you haven’t already. A recording of today's call will be available for about a month via a link on our website.

With that, I'll now turn it over to our President and CEO, Mary Berner. Mary?

Mary Berner

Thanks, Collin, and good afternoon, everyone. To reiterate what we've said on prior calls, our de facto management and cultural mantra is to focus acutely, move decisively, and execute efficiently. And that mindset continues to pay off as our strong Q2 performance once again reflects our rigorous execution of our business plan, a plan we continue to strongly believe will provide significant upside for our shareholders.

Elements of the plan include our multi-platform audio first content strategy, which extends our broadcast, and digital content and talent across channels to expand and diversify our audiences. Multiple digital businesses developed profitably from day one, which have bolstered and will continue to drive the company's ability to deliver sustainable top line growth.