Full-Year Revenue and Adjusted EBITDA Improvement
Total revenue for fiscal 2025 was $357.5 million, up 0.4% year-over-year from $356.0 million, and adjusted EBITDA increased to $42 million, up 2.6% versus 2024, yielding an adjusted EBITDA margin of 11.8%.
Strong Cross-Platform Revenue Growth
Cross-platform revenue reached $50.3 million in 2025, up 24.4% year-over-year, driven by higher usage of Proximic and CCR products and the rollout of the CCM cross-platform content measurement product.
Local TV and Movies Growth
Local TV delivered double-digit year-over-year growth (part of syndicated and other offerings) and movies business revenue grew to $38.4 million, up 3.4% year-over-year; Q4 movies revenue was $9.9 million, up 5.5% versus Q4 2024.
Q4 Profitability and Expense Discipline
Fourth-quarter adjusted EBITDA was $14.7 million, up 3.3% year-over-year with a 15.7% adjusted EBITDA margin. Core operating expenses in Q4 were down 4.4% year-over-year driven by lower employee compensation and data costs.
Capital-Structure Recapitalization Benefits
Year-end recapitalization eliminated $18 million in annual preferred dividends, removed a $47 million special dividend obligation, and converted roughly $80 million of preferred shares into common shares, while reducing Board size—improving financial flexibility and lowering governance costs.
Product Innovation and Early Adoption (CCM and AI)
Launched CCM (cross-platform content measurement) with early adoption by several large broadcasters and technology companies; company is advancing AI-measurement capabilities leveraging unique digital panel assets to observe AI search/chat interactions and related consumer behavior.