SGA

MKT CAP:$74M

Saga Communications, Inc.

Market Cap

$74M

Communication Services·Broadcasting·🇺🇸 United States·NASDAQ

Communication·Broadcasting·🇺🇸·NASDAQ

Stock Price

$11.95+$0.45 (+3.91%)

Apr 17, 2026

Company Details

Saga Communications, Inc., a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, adult hits, top 40, country...

CEO

Christopher S. Forgy

IPO Date

Mar 2, 1993

Website

www.sagacom.com

Key Metrics TTM

Revenue

$107M

-6.5% YoY

Net Income

-$8M

EPS (Diluted)

-$1.29

Free Cash Flow

$4M

Revenue / Share

$17.45

Gross Margin

9.5%

Operating Margin

-2.0%

Net Margin

-7.4%

FCF Margin

3.9%

P/S

0.7x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 12, 2026

$107M-5.1%EPS -$1.28

Q4 2025

Mar 12, 2026

$27M-15.6%EPS -$1.13

Q3 2025

Nov 7, 2025

$28MEPS -$0.09

Q2 2025

Aug 8, 2025

$28M-1.8%EPS $0.18

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$32M	$9M	$5M
Q4 20	$29M	$8M	$5M
Q2 22	$30M	$8M	$5M
Q3 22	$30M	$8M	$1M
Q4 22	$30M	$7M	$5M
Q1 23	$25M	$4M	$905.0K
Q2 23	$29M	$7M	$4M
Q3 23	$29M	$6M	$3M
Q4 23	$29M	$6M	$3M
Q1 24	$25M	$3M	-$2M
Q2 24	$29M	$5M	$2M
Q4 24	$31M	$4M	$984.0K
Q1 25	$24M	$2M	-$2M
Q2 25	$28M	$5M	$1M
Q3 25	$28M	$2M	-$635.0K
Q4 25	$27M	$983.0K	-$645.0K

Valuation

Quarter	P/S	P/E
Q4 19	1.4x	13.3x
Q4 20	1.1x	9.2x
Q2 22	1.2x	10.8x
Q3 22	1.2x	14.7x
Q4 22	1.2x	14.2x
Q1 23	1.2x	15.1x
Q2 23	1.1x	15.1x
Q3 23	1.1x	11.2x
Q4 23	1.2x	14.1x
Q1 24	1.2x	19.3x
Q2 24	0.8x	15.3x
Q4 24	0.6x	14.2x
Q1 25	0.7x	122.9x
Q2 25	0.7x	24.0x
Q3 25	0.7x	260.8x
Q4 25	0.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$6M	$5M
Q4 20	$4M	$3M
Q2 22	$2M	-$653.0K
Q3 22	$7M	$6M
Q4 22	$3M	$2M
Q1 23	$5M	$3M
Q2 23	$1M	-$72.0K
Q3 23	$8M	$7M
Q4 23	$1M	$499.0K
Q1 24	$4M	$3M
Q2 24	$1M	-$6M
Q4 24	$4M	$3M
Q1 25	$1M	$668.0K
Q2 25	$755.0K	$1M
Q3 25	$3M	$3M
Q4 25	-$18.0K	-$714.0K

Capital Expenditures

Quarter	CapEx
Q4 19	$1M
Q4 20	$434.0K
Q2 22	$3M
Q3 22	$1M
Q4 22	$1M
Q1 23	$1M
Q2 23	$1M
Q3 23	$760.0K
Q4 23	$959.0K
Q1 24	$1M
Q2 24	$7M
Q4 24	$568.0K
Q1 25	$696.0K
Q2 25	$696.0K
Q3 25	$590.0K
Q4 25	$696.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 19	-3.5%	-2.1%
Q4 20	+3.4%	-8.1%
Q2 22	-7.4%	-4.5%
Q3 22	-4.1%	+9.3%
Q4 22	-5.2%	-4.4%
Q1 23	-12.0%	+2.7%
Q2 23	-2.2%	+1.8%
Q3 23	-2.8%	-11.3%
Q4 23	-3.3%	+4.6%
Q1 24	-0.0%	+13.6%
Q2 24	-1.5%	+6.9%
Q4 24	+7.7%	+18.5%
Q1 25	-16.9%	+0.6%
Q2 25	+11.6%	-3.2%
Q3 25	-2.0%	+8.3%
Q4 25	-15.6%	-10.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$473.0K	1.5%
Q4 20	$422.0K	1.5%
Q2 22	$338.0K	1.1%
Q3 22	$1M	3.5%
Q4 22	$132.0K	0.4%
Q1 23	$245.0K	1.0%
Q2 23	$248.0K	0.9%
Q3 23	$250.0K	0.9%
Q4 23	$373.0K	1.3%
Q1 24	$453.0K	1.8%
Q2 24	$520.0K	1.8%
Q4 24	$503.0K	1.6%
Q1 25	$527.0K	2.2%
Q2 25	$603.0K	2.1%
Q3 25	$518.0K	1.8%
Q4 25	$484.0K	1.8%

OpEx Breakdown

Quarter	G&A
Q4 19	$3M
Q4 20	$3M
Q2 22	$3M
Q3 22	$7M
Q4 22	$2M
Q1 23	$3M
Q2 23	$2M
Q3 23	$3M
Q4 23	$3M
Q1 24	$3M
Q2 24	$3M
Q4 24	$3M
Q1 25	$3M
Q2 25	$3M
Q3 25	$3M
Q4 25	$3M

Revenue Segments

Quarter	Broadcast Advertising Revenue Net	Digital Advertising Revenue	Other Revenue	Broadcast Advertising Revenue, Net	Broadcast Advertising Revenue, net
Q4 19	$29M	$1M	$2M	—	—
Q4 20	$26M	$1M	$1M	—	—
Q2 22	—	$2M	$2M	$25M	—
Q3 22	—	$2M	$2M	$26M	—
Q4 22	—	$2M	$2M	$26M	—
Q1 23	—	$2M	$2M	$21M	—
Q2 23	—	$2M	$2M	$24M	—
Q3 23	—	$3M	$2M	$24M	—
Q1 24	—	$2M	$2M	$20M	—
Q2 24	—	$3M	$2M	$23M	—
Q1 25	—	$3M	$2M	—	$19M
Q2 25	—	$5M	$2M	—	$22M
Q3 25	—	$5M	$3M	—	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$55M	$0	$55M
Q2 22	$42M	$10M	$52M
Q3 22	$48M	$10M	$58M
Q4 22	$37M	$10M	$47M
Q1 23	$27M	$10M	$37M
Q2 23	$24M	$10M	$34M
Q3 23	$31M	$10M	$42M
Q4 23	$30M	$11M	$40M
Q1 24	$20M	$9M	$29M
Q2 24	$15M	$9M	$24M
Q3 24	$20M	$9M	$29M
Q4 24	$19M	$9M	$28M
Q1 25	$18M	$9M	$27M
Q2 25	$16M	$9M	$25M
Q3 25	$17M	$9M	$26M
Q4 25	$0	$0	$0

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	6M	-0.3%	-0.1%
Q4 20	6M	+1.1%	+0.7%
Q2 22	6M	+1.2%	+1.8%
Q3 22	6M	+0.2%	+2.2%
Q4 22	6M	+0.9%	+3.4%
Q1 23	6M	+0.2%	+2.5%
Q2 23	6M	+0.1%	+1.3%
Q3 23	6M	0.0%	+1.2%
Q4 23	6M	-0.0%	+0.3%
Q1 24	6M	+0.5%	+0.6%
Q2 24	6M	+0.1%	+0.7%
Q4 24	6M	+0.3%	+0.9%
Q1 25	6M	+0.6%	+1.5%
Q2 25	6M	+0.2%	+1.2%
Q3 25	6M	+0.3%	+1.4%
Q4 25	6M	-0.3%	+0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$48.0K	663
Q4 20	$47.4K	607
Q2 22	$52.3K	570
Q3 22	$52.6K	570
Q4 22	$51.5K	585
Q1 23	$43.3K	585
Q2 23	$49.9K	585
Q3 23	$49.8K	585
Q4 23	$49.5K	589
Q1 24	$42.9K	589
Q2 24	$48.8K	589
Q4 24	$52.2K	601
Q1 25	$40.3K	601
Q2 25	$47.0K	601
Q3 25	$46.9K	601
Q4 25	$44.1K	601

Revenue / Employee