GTNGray Media, Inc.

$491M

Q3 2025 Earnings

Communication Services Broadcasting

Income Statement

Revenue

$749M-21.2% YoY

Gross Profit

$726M96.9% margin

Operating Income

$102M13.6% margin

Net Income

-$10M-1.3% margin

EPS (Diluted)

$-0.10

QoQ Revenue Growth

-3.0%

Cash Flow

Operating Cash Flow

$14M

Free Cash Flow

-$11M

Stock-Based Comp.

$5M

Balance Sheet

Total Assets

$10.3B

Total Liabilities

$7.5B

Stockholders' Equity

$2.8B

Cash & Equivalents

$182M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$749M	$950M	-21.2%
Gross Profit	$726M	$357M	+103.4%
Operating Income	$102M	$250M	-59.2%
Net Income	-$10M	$96M	-110.4%

Revenue Segments

Advertising

$363M33%

Core Advertising

$355M32%

Retransmission Consent

$346M31%

Production Companies

$25M2%

Service, Other

$15M1%

Political Advertising

$8M1%

GTN Q3 2025 Earnings — Gray Media, Inc. Revenue & Financial Results | Market Cap Arena