Bright Mountain Media, Inc. Announces Third Quarter 2026 Financial Results

(OTCID: BMTM) Bright Mountain Media, Inc. announced its financial results for the third quarter and nine months ended September 30, 2026. Matthew Drinkwater, Chief Executive Officer, stated that the company made progress in transforming into a more focused, efficient, and profitable organization, highlighting a 25% improvement in net loss for the first nine months of 2026. For the three months ended September 30, 2026, revenue was approximately $11.6 million, down $2.3 million or 17% from $13.9 million in the same period of 2025. Advertising technology revenue was $4.5 million, digital publishing revenue was $125,000, consumer insights revenue was $4.9 million, and creative and media services revenue was $2.0 million. Cost of revenue was $8.2 million, a decrease of $1.5 million or 15% from $9.7 million in 2025, including direct salary and labor costs of $117,000, direct project costs of $2.4 million, non-direct project costs of $1.9 million, publisher costs of $3.4 million, and sales commissions of $128,000. General and administrative expense was $2.6 million, down 37% from $4.1 million in 2025. Gross margin was $3.4 million, a decrease of 20% from $4.3 million in 2025. Net loss for the quarter was $3.0 million, a decrease of 6% compared to $2.8 million in 2025. Adjusted EBITDA was $1.5 million, up 10% from $1.3 million in 2025. For the nine months ended September 30, 2026, revenue was $39.2 million, down $4.3 million or 10% from $43.5 million in 2025. Advertising technology revenue was $17.6 million, digital publishing revenue was $703,000, consumer insights revenue was $14.9 million, and creative and media services revenue was $6.0 million. Cost of revenue was $29.1 million, a decrease of $2.9 million or 9% from $32.0 million in 2025, including direct salary and labor costs of $747,000, direct project costs of $6.9 million, non-direct project costs of $6.6 million, publisher costs of $13.0 million, and sales commissions of $758,000. General and administrative expense was $8.7 million, down 31% from $12.6 million in 2025. Gross margin was $10.1 million, a decrease of 12% from $11.6 million in 2025. Net loss for the nine months was $7.5 million, an improvement of 26% compared to $10.1 million in 2025. Adjusted EBITDA was $3.6 million, up 88% from $1.9 million in 2025. As of September 30, 2026, total assets were $32.8 million and total liabilities were $116.8 million. The company had cash and cash equivalents of $1.7 million, accounts receivable of $13.1 million, and an accumulated deficit of $187.8 million. The company’s subsidiaries include Deep Focus Agency, LLC, MediaHouse, Inc., BV Insights, LLC, CL Media Holdings, LLC, Bright Mountain, LLC d/b/a BrightStream, Oceanside Media, LLC, Slutzky & Winshman, Ltd., and Wild Sky Media Co. Ltd. The company provided a reconciliation of net loss to EBITDA and adjusted EBITDA, with adjustments for depreciation, amortization, interest expense, stock compensation, loss/gain on sale of assets, and non-recurring professional, legal, and severance expenses.