The company is effectively insolvent with $86.8M in current debt vs $594K cash. The 60% net loss improvement is from cost-cutting, not revenue growth. Monitor for debt restructuring, potential default, or dilutive equity raise. The Apr 6 amendment deferring payments and issuing shares to the lender signals distress.
Price Chart
Executive Summary
Bright Mountain Media reported Q1 2026 revenue of $14.0M, down 2% YoY from $14.2M, but net loss improved 60% to $1.3M from $3.2M. Adjusted EBITDA surged 189% to $2.4M. The company's massive debt load ($86.8M current portion of Centre Lane facility) and negative stockholders' equity ($77.9M deficit) overshadow the operational improvements.
Key Financial Metrics
Key Facts
- Revenue declined 2% YoY to $14.0M from $14.2M
- Net loss improved 60% to $1.3M from $3.2M
- Adjusted EBITDA rose 189% to $2.4M from $816K
- Gross margin flat at $4.3M
- Operating income swung positive to $1.7M from -$252K
- Interest expense on Centre Lane facility was $3.1M, exceeding operating income
- Current portion of Centre Lane debt is $86.8M, total current liabilities $115.1M
- Stockholders' deficit of $77.9M, accumulated deficit $181.6M
- Cash and cash equivalents only $594K vs $20.3M accounts payable
- Prior 8-K (Apr 6) deferred $1.2M loan amortization and issued 2.9M shares to lender
Financial Impact
Revenue down $227K YoY; net loss improved $1.9M; $86.8M debt due within 12 months vs $594K cash
Risk Factors
- Potential default on $86.8M Centre Lane facility due Dec 2026 with only $594K cash
- Negative stockholders' equity of $77.9M indicates balance sheet insolvency
- Revenue decline trend continues (2nd consecutive quarter of YoY decline per cross-filing)
- Interest expense ($3.1M) exceeds operating income ($1.7M) - debt burden unsustainable
- Further dilution likely as lender already received 2.9M shares in Apr 2026 amendment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-219222 |
| Document: bmtm-20260512.htm | 0001193125-26-219222 |
| Document: 0001193125-26-219222-index-headers.html | 0001193125-26-219222 |
| Document: 0001193125-26-219222-index.html | 0001193125-26-219222 |
| Document: 0001193125-26-219222.txt | 0001193125-26-219222 |
| 8-K Data (Synthetic) | 0001193125-26-219222 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 23, 2026 4w ago | 8-K | $0.005200 $0.002400 | ▲ +53.85% | ▲ +54.53% | $0.002400 (+53.85%) |
Jul 7, 2026 15w ago | 8-K | $0.008300 $0.009600 | ▼ −15.66% | ▼ −12.50% | $0.002400 (+71.08%) |
Jun 16, 2026 18w ago | 8-K | $0.007000 $0.009000 | ▲ +28.57% | ▲ +27.72% | $0.002400 (−65.71%) |
May 12, 2026 23w ago | 8-K | $0.004000 $0.007300 | ▼ −82.50% | ▼ −84.23% | $0.002400 (+40.00%) |
Apr 16, 2026 27w ago | 8-K | $0.006000 $0.004000 | ▲ +33.33% | ▲ +39.15% | $0.002400 (+60.00%) |
Apr 6, 2026 29w ago | 8-K | $0.004800 $0.004000 | ▼ −16.67% | ▼ −25.65% | $0.002400 (−50.00%) |
US Market Status
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