Mediaco Holding Inc. Files Q2 2024 10-Q

Ticker: MDIA · Form: 10-Q · Filed: Sep 18, 2024 · CIK: 1784254

Mediaco Holding Inc. 10-Q Filing Summary
FieldDetail
CompanyMediaco Holding Inc. (MDIA)
Form Type10-Q
Filed DateSep 18, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: quarterly-report, sec-filing, compliance

Related Tickers: MDIA

TL;DR

MDIA filed its 10-Q for Q2 2024, confirming compliance with filing requirements.

AI Summary

Mediaco Holding Inc. filed its quarterly report for the period ending June 30, 2024. The company is registered in Indiana and its Class A common stock trades under the symbol MDIA on the Nasdaq Capital Market. Mediaco Holding Inc. has confirmed it has filed all required reports for the preceding 12 months and has been subject to such filing requirements for the past 90 days.

Why It Matters

This filing provides investors with an update on Mediaco Holding Inc.'s financial performance and compliance status for the second quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate financial distress or significant new risks.

Key Numbers

  • 001-39029 — Commission File Number (Unique identifier for the SEC filing)
  • 84-2427771 — I.R.S. Employer Identification No. (Tax identification number for the company)

Key Players & Entities

  • Mediaco Holding Inc. (company) — Registrant
  • June 30, 2024 (date) — Quarterly period end date
  • Indiana (location) — State of incorporation
  • MDIA (ticker) — Trading symbol for Class A common stock
  • Nasdaq Capital Market (exchange) — Exchange where MDIA is traded

FAQ

What is the primary purpose of this Form 10-Q filing?

The primary purpose is to provide a quarterly report on Mediaco Holding Inc.'s financial performance and operations for the period ended June 30, 2024, as required by Section 13 or 15(d) of the Securities Exchange Act of 1934.

What class of securities is registered and traded for Mediaco Holding Inc.?

The Class A common stock, with a par value of $0.01, is registered and traded under the symbol MDIA on the Nasdaq Capital Market.

Has Mediaco Holding Inc. met its filing obligations for the past 12 months?

Yes, the filing indicates that Mediaco Holding Inc. has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Where is Mediaco Holding Inc. incorporated?

Mediaco Holding Inc. is incorporated in Indiana.

What is the principal executive office address for Mediaco Holding Inc.?

The principal executive offices are located at 48 West 25th Street, Third Floor, New York, New York 10010.

Filing Stats: 4,844 words · 19 min read · ~16 pages · Grade level 17.5 · Accepted 2024-09-18 16:12:14

Key Financial Figures

  • $0.01 — which registered Class A common stock, $0.01 par value MDIA Nasdaq Capital Market

Filing Documents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Statements of Operations for the three-month and six-month periods ended June 3 0 , 2024 and 2023 3 Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 4 Condensed Consolidated Statements of Changes in Equity (Deficit) for the three-month and six-month periods ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six -month periods ended June 3 0 , 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 33

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 34

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 34

SIGNATURES

SIGNATURES 36 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MEDIACO HOLDING INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2024 2023 2024 2023 NET REVENUES $ 26,202 $ 12,080 $ 32,908 $ 19,415 OPERATING EXPENSES: Operating expenses excluding depreciation and amortization expense 34,647 11,046 41,297 18,283 Corporate expenses 3,445 1,002 6,835 2,886 Depreciation and amortization 1,431 148 1,564 307 Loss (gain) on disposal of assets 5 — 5 ( 39 ) Total operating expenses 39,528 12,196 49,701 21,437 OPERATING LOSS ( 13,326 ) ( 116 ) ( 16,793 ) ( 2,022 ) OTHER INCOME (EXPENSE): Interest expense, net ( 3,782 ) ( 116 ) ( 3,918 ) ( 219 ) Change in fair value of warrant shares liability ( 31,027 ) — ( 31,027 ) — Other income (expense) 10 ( 123 ) 20 6 Total other expense ( 34,799 ) ( 239 ) ( 34,925 ) ( 213 ) LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES ( 48,125 ) ( 355 ) ( 51,718 ) ( 2,235 ) PROVISION FOR INCOME TAXES 182 75 266 150 NET LOSS FROM CONTINUING OPERATIONS ( 48,307 ) ( 430 ) ( 51,984 ) ( 2,385 ) NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS — 9 — ( 143 ) CONSOLIDATED NET LOSS ( 48,307 ) ( 421 ) ( 51,984 ) ( 2,528 ) Net income attributable to noncontrolling interest 828 — 828 — PREFERRED STOCK DIVIDENDS 128 596 851 1,186 NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ ( 49,263 ) $ ( 1,017 ) $ ( 53,663 ) $ ( 3,714 ) Net loss per share attributable to common shareholders - basic and diluted: Continuing operations $ ( 0.75 ) $ ( 0.04 ) $ ( 1.19 ) $ ( 0.14 ) Discontinued operations $ — $ — $ — $ ( 0.01 ) Net loss per share attributable to common shareholders - basic and diluted: $ ( 0.75 ) $ ( 0.04 ) $ ( 1.19 ) $ ( 0.15 ) Weighted average common shares outstanding: Basic 65,415 24,947 45,166 24,927 Diluted 65,415 24,947 45,166 24,927 The accompanying notes are an integral part of these unaudited condensed consolidated statements. -3- Table

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