Entravision Communications Corporation (EVC): Business Model Canvas [Dec-2025 Updated]

You're looking at Entravision Communications Corporation right now and seeing a company in transition; honestly, the numbers from late 2025 tell a clear story of a digital pivot, especially with their Ad Tech segment driving a 104% revenue increase in Q3. As an analyst who's seen these shifts before, the key question isn't if they are growing, but how that growth-which brought in $76.1 million from ATS alone that quarter-balances against rising operating expenses and their ongoing debt reduction plan. Dive into the full Business Model Canvas below to see the concrete resources, partnerships, and customer segments that are making this high-wire act work, or where the next pinch point might be.

Entravision Communications Corporation (EVC) - Canvas Business Model: Key Partnerships

You're looking at the critical relationships Entravision Communications Corporation (EVC) relies on to drive revenue and manage its balance sheet as of late 2025. These aren't just handshake agreements; they are the structural pillars supporting both the Media and the high-growth Advertising Technology & Services (ATS) segments.

TelevisaUnivision network affiliation for U.S. broadcast rights

Entravision Communications Corporation maintains a core partnership as the largest affiliate group of the Univision and UniMás television networks. This relationship is key for delivering premium Spanish-language content to U.S. Latino audiences. Through these affiliations, Entravision Communications Corporation broadcasts highly sought-after sports properties, including Futbol Liga MX, Concacaf Gold Cup, Leagues Cup, UEFA Super Cup, and Futbol Selección Mexicana. TelevisaUnivision itself emphasizes its 70-year relationship with the U.S. Hispanic community, which underpins the value of this content distribution channel for advertisers.

Global mobile app developers and advertisers for programmatic ad spend

The programmatic advertising technology business, which includes the Smadex platform, partners with global advertisers and mobile app developers. This partnership structure is clearly driving significant financial results in the ATS segment. For instance, the Advertising Technology & Services segment saw net revenue increase by 104% in the third quarter of 2025 compared to the third quarter of 2024. This growth was explicitly linked to investments in the platform's AI capabilities and increased sales capacity. The segment's operating profit reflected this success, reaching $9.8 million in Q3 2025, marking a 378% increase year-over-year.

Media agencies and Fortune 500 companies for U.S. Hispanic market access

The Media segment partners with media agencies and national advertisers seeking access to the U.S. Latino consumer base. While the Media segment faced headwinds, with net revenue declining 26% in Q3 2025 versus Q3 2024, the partnerships remain vital for local and national ad sales. The average monthly advertisers and revenue per average monthly advertiser for local media operations were flat year-over-year in Q3 2025.

Technology providers for cloud computing and AI platform infrastructure

The operational partnership with technology providers is evident in the cost structure of the ATS segment. The expense for cloud computing services specifically increased as a result of processing more transactions and utilizing stronger AI capabilities integrated into the ad tech platform. This shows a direct, measurable cost associated with leveraging advanced technology partners to scale the programmatic business.

Financial institutions for the Credit Facility, with $5 million quarterly debt payments

The relationship with financial institutions governing the Credit Facility is structured around aggressive debt reduction following a July 15, 2025 amendment. You need to track these mandatory payments closely. Here's the quick math on the current debt structure and recent activity:

Financial Metric	Value/Amount	Context/Date
Scheduled Quarterly Term Loan Payment	$5 million	Post July 15, 2025 Amendment
Total Debt Payments Year-to-Date 2025	$15 million	As of Q3 2025
Voluntary Prepayment in Q2 2025	$10 million	Prior to Q3 payment
Credit Facility Indebtedness	Approx. $173 million	As of Q3 2025 end
Revolving Credit Facility Commitment	$30 million	Reduced from $75 million
Credit Facility Maturity Date	March 2028	Term of the agreement

The amendment also changed the financial covenant calculation for the net leverage ratio to a trailing eight-quarter period from four, with the maximum permitted ratio increasing to 4.0x from 3.25x. This adjustment helps moderate the impact of cyclical political advertising revenue on compliance.

The company also manages dividend payments to stockholders, which were $0.05 per share in Q3 2025, totaling approximately $4.5 million.

You should review the covenant compliance schedule based on the new 4.0x leverage test against the eight-quarter lookback. Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Key Activities

You're looking at the core actions Entravision Communications Corporation (EVC) is taking to drive its business forward as of late 2025. It's a story of two distinct segments pulling in opposite directions, which management is actively trying to balance through structural changes and debt focus.

Developing and enhancing proprietary AI-enabled ad technology (Smadex)

A major activity centers on the Advertising Technology & Services (ATS) segment, which includes the programmatic ad purchasing platform, Smadex. Investments in the AI capabilities of this platform, coupled with increased sales capacity, are key drivers here. This focus is yielding significant top-line results.

The ATS segment's net revenue growth in the third quarter of 2025 was a remarkable 104% year-over-year. This segment's operating profit hit $9.8 million for the third quarter of 2025, marking a 378% increase compared to the third quarter of 2024. This activity is clearly the growth engine right now.

Selling advertising inventory across traditional media and digital platforms

Entravision Communications Corporation is active in selling advertising inventory across its Media segment, which covers video, audio, and digital marketing services. This segment targets Latino audiences in the U.S. and includes being the largest affiliate group of the Univision and UniMás television networks. However, this core activity faced headwinds in the third quarter of 2025.

Media segment net revenue decreased 26% in the third quarter of 2025 compared to the third quarter of 2024. The revenue for this segment was $44.5 million in the third quarter of 2025. The operating result for the Media segment in the third quarter of 2025 was an operating loss of $3.5 million, a significant drop from the operating profit of $11.7 million reported in the third quarter of 2024. Still, the average monthly advertisers and revenue per average monthly advertiser for local media operations were reported as flat year-over-year for the third quarter of 2025.

Here's the quick math on the segment performance contrast for Q3 2025:

Activity Metric	Media Segment	Advertising Technology & Services Segment
Q3 2025 Net Revenue	$44.5 million	$76.1 million
Q3 YoY Revenue Change	-26%	+104%
Q3 2025 Operating Profit/(Loss)	($3.5 million)	$9.8 million

Producing and broadcasting local news and content for U.S. Hispanic audiences

This activity is embedded within the Media segment operations. Entravision Communications Corporation maintains a diversified portfolio of television and radio stations focused on this demographic. The company is the largest affiliate group for the Univision and UniMás television networks in the U.S. The revenue decline in this segment was attributed to decreases in broadcast advertising revenue, retransmission consent revenue, and spectrum usage rights revenue, partially offset by an increase in digital advertising revenue.

Organizational restructuring to reduce expenses and support revenue growth

Management began implementing an ongoing organization design plan in the third quarter of 2025. This restructuring is intended to support revenue growth and reduce expenses, focusing primarily on the media operations. The company recorded a restructuring charge of $3.2 million in the third quarter of 2025 as a result of this plan. Corporate expenses also saw a reduction, decreasing 9% in the third quarter of 2025 compared to the third quarter of 2024, driven by lower rent and professional services costs.

Key components of the organizational design include:

• Reduction of approximately 5% of the Company's media segment workforce.
• Focusing workforce reductions primarily in back-office roles.
• Abandonment of certain leased facilities.
• Shutdown of certain legacy international operations within the advertising technology & services segment.

Accelerating debt reduction, with $15 million repaid so far in 2025

Reducing debt is a stated key priority for Entravision Communications Corporation, supported by a strategic amendment to its credit agreement in July 2025. This amendment was designed to accelerate debt reduction and provide financial stability. The company made a scheduled debt payment of $5 million on its bank term loan in the third quarter of 2025.

The total debt reduction year-to-date for 2025 reached $15 million as of the third quarter end. This brought the credit facility indebtedness down to about $173 million as of the end of the third quarter of 2025. For context on cash allocation, the company also paid a dividend of $4.5 million in the third quarter of 2025.

Entravision Communications Corporation (EVC) - Canvas Business Model: Key Resources

You're looking at the core assets Entravision Communications Corporation (EVC) relies on to run its business as of late 2025. These are the tangible and intangible items that make the whole operation tick.

The technology platforms are definitely a major focus area, showing massive growth compared to the traditional media side.

Proprietary Advertising Technology & Services (ATS) platforms (Smadex, Adwake)

• Smadex is the programmatic ad purchasing platform.
• Adwake is the mobile growth solutions business.
• ATS segment net revenue increased by an impressive 104% in the third quarter of 2025 year-over-year.
• ATS segment operating profit reached $9.8 million for third quarter 2025.
• This operating profit represented an increase of 378% compared to third quarter 2024.

Here's a quick look at how the two main segments stacked up in Q3 2025:

Key Metric	Media Segment	Advertising Technology & Services (ATS) Segment
Q3 2025 Net Revenue	$44.5 million	$76.1 million
Q3 2025 Operating Profit	Loss of $3.5 million	$9.8 million
Year-over-Year Revenue Change (Q3 2025)	Decreased 26%	Increased 104%

Portfolio of U.S. television and radio broadcast stations

Entravision Communications Corporation maintains a diversified portfolio of television and radio stations in the U.S., targeting Latino audiences.

Cash and cash equivalents of $66.4 million as of September 30, 2025

The company reported $66.4 million in cash and cash equivalents and marketable securities on September 30, 2025. This compares to $100.6 million at the end of 2024. Net cash provided by operating activities for the third quarter of 2025 was $8.3 million.

Exclusive network affiliation agreements (e.g., Univision/UniMás)

• Entravision Communications Corporation is identified as the largest affiliate group of the Univision and UniMás television networks.

Expanded sales capacity and digital marketing specialist teams

The growth in the Advertising Technology & Services segment was explicitly enabled by investments in AI capabilities and increased sales capacity. Conversely, the media segment underwent organizational adjustments; a restructuring plan included a reduction of approximately 5% of the Company's media segment workforce, primarily in back-office roles.

Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Value Propositions

You're looking at the core value Entravision Communications Corporation (EVC) offers its partners and customers right now, late in 2025. It's a story of two distinct segments pulling in opposite directions, but with one clearly leading the charge.

High-growth programmatic advertising with 104% Q3 2025 revenue increase

The primary value driver is the Advertising Technology & Services (ATS) segment, which is seeing explosive growth from its programmatic advertising services, like Smadex and Adwake. For the third quarter ending September 30, 2025, the ATS segment net revenue jumped 104% year-over-year. This segment brought in $76.1 million in revenue for the quarter. To put that in context with the whole company, Entravision Communications Corporation reported consolidated net revenues of $120.6 million for Q3 2025.

This tech focus is clearly where the action is, especially when you compare it to the Media segment, which saw its net revenue decline by 26% to $44.5 million in the same period. The operating profit story is even starker; the ATS unit posted a profit of $9.8 million, marking an increase of 378% year-over-year.

Here's the quick math on those segment results for Q3 2025:

Segment	Net Revenue (Q3 2025)	Year-over-Year Revenue Change	Segment Operating Profit (Q3 2025)
Advertising Technology & Services (ATS)	$76.1 million	+104%	$9.8 million
Media	$44.5 million	-26%	-$3.5 million loss

Comprehensive, multi-channel access to the U.S. Latino consumer market

Entravision Communications Corporation offers advertisers unparalleled access to the influential U.S. Hispanic community. This audience is a demographic force, representing 65 million people, which is nearly one in five Americans. Their collective spending power is massive, surpassing $2.7 trillion. You get to tap into this market through several established channels.

• TV affiliate partnerships with top U.S. networks, including being the largest affiliate group for the Univision and UniMás television networks.
• Audio formats featuring exclusive Spanish content, iconic influencers, and premium sports partnerships.
• A digital network featuring premium publishers for precise audience reach and scale.
• Ownership of 46 Spanish-language radio stations across the U.S. and operation of the Latino Radio Network.

AI-enhanced ad platform capabilities for global mobile app developers

The value proposition in the ATS segment is directly tied to technology adoption. Investments in the AI capabilities of the programmatic platform are paying off, enabling the segment to increase both monthly active advertisers and revenue per monthly active advertiser. This segment provides programmatic advertising technology and services to advertisers and mobile app developers on a global basis. The focus here is on delivering global performance and programmatic power.

Trusted local news and content provider in key U.S. Hispanic markets

For local advertisers, Entravision Communications Corporation positions itself as a reliable source of information. The company states it is dedicated to serving its audiences as a trusted provider of news, information, and entertainment. This is supported by its extensive local media footprint, which includes its owned Spanish-language television and radio stations in the U.S.. The company also focuses on providing content that reflects the culture, with over 70% of Telemundo's 2025-2026 programming being live.

Integrated digital and traditional media solutions for advertisers

Advertisers get the benefit of a combined offering, moving beyond just one medium. The Media segment provides video, audio, and digital marketing services to local and national advertisers in the U.S.. This traditional media base is now integrated with the digital strength of the ATS segment, which offers programmatic advertising technology. The strategy is to invest in content, technology, and local sales to drive revenue. You can see this integration in the local media operations, where average monthly advertisers and revenue per advertiser were flat year-over-year in Q3 2025, showing stability in the core business while tech soared. The company also declared a quarterly cash dividend of $0.05 per share for shareholders of record on December 16, 2025.

Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Customer Relationships

You're looking at how Entravision Communications Corporation (EVC) manages its connections with advertisers and shareholders as of late 2025. The relationship strategy clearly splits between its traditional Media operations and its high-growth Advertising Technology & Services (ATS) segment.

Dedicated local sales teams for direct advertiser relationships

Entravision Communications Corporation is actively investing in its Media segment sales force to deepen direct advertiser relationships. This involves adding more local salespeople and digital sales specialists to drive local and digital advertising sales. For instance, in late 2024 and early 2025, the company made changes to its Media sales leadership to support this growth. However, the direct advertiser relationship in the Media segment faced headwinds; Media segment net revenue decreased 10% in the first quarter of 2025 compared to the first quarter of 2024. Also, the Media segment net revenue was down 8% in the second quarter of 2025 year-over-year. This segment, which provides video, audio, and digital marketing services to local and national advertisers in the U.S., saw a significant revenue drop of 26% in the third quarter of 2025 compared to the third quarter of 2024. The number of active local advertisers was lower in the first quarter of 2025 than in the prior year's first quarter, though the number of active local advertisers in the second quarter of 2025 was higher than in the first quarter of 2025.

Automated, self-service programmatic ad platform for global clients

The relationship with global clients is primarily facilitated through the Advertising Technology & Services (ATS) segment, which offers programmatic advertising technology and services. This platform, which includes Smadex, connects advertisers globally. This automated approach is showing substantial growth in client spend. ATS segment net revenue increased 57% in the first quarter of 2025 compared to the first quarter of 2024. That momentum accelerated, with ATS revenue up 66% in the second quarter of 2025 year-over-year, and then more than doubling with a 104% increase in the third quarter of 2025 compared to the third quarter of 2024. The relationship is deepening with existing users, as the third quarter of 2025 saw a higher number of monthly active accounts and higher revenue per monthly active account.

Here's a quick look at the contrasting revenue performance between the two primary customer-facing segments for the latest reported quarter:

Segment	Q3 2025 Net Revenue (vs Q3 2024)	Q3 2025 Segment Operating Profit (vs Q3 2024)
Media	Decreased 26%	Decreased 55% (to $6.2 million profit decline)
Advertising Technology & Services (ATS)	Increased 104%	Increased 378% (to $9.8 million profit)

Consultative sales approach for tailored digital marketing solutions

Entravision Communications Corporation is focusing on serving the digital needs of its local advertising customers, as virtually all of them are advertising in digital channels like search, social, streaming video, and streaming audio. The company is investing in digital sales specialists and digital sales operations capabilities within the Media segment to better serve these needs with tailored solutions. In the ATS segment, the consultative element is supported by technology investment, specifically building more powerful AI capabilities into the platform to improve service and drive higher spend per client.

• Investment in Media segment includes adding digital sales specialists.
• ATS segment focuses on building AI capabilities into its platform.
• ATS saw higher revenue per monthly active advertiser in Q3 2025.
• The company is expanding sales capacity and geographic sales coverage in ATS.

Long-term retransmission consent agreements with cable/satellite providers

The relationship with cable and satellite providers, governed by retransmission consent agreements, directly impacts the Media segment's top line. A decrease in retransmission consent revenue was cited as a primary reason for the Media segment net revenue decline in the first quarter of 2025 (down 10% year-over-year) and the second quarter of 2025 (down 8% year-over-year). This revenue stream also contributed to the 26% decrease in Media segment net revenue in the third quarter of 2025 compared to the third quarter of 2024.

Maintaining a quarterly cash dividend of $0.05 per share for shareholders

Entravision Communications Corporation maintains a consistent capital return policy for its shareholders. The board of directors approved a quarterly cash dividend of $0.05 per share for the third quarter of 2025, payable on December 31, 2025. This $0.05 per share amount was also the dividend declared for the first quarter of 2025. This consistent payout compares favorably to the average of the last 10 dividends, which stood at $0.040. The forward dividend yield was recently noted at 7.09%, placing it in the top 15% of dividend-paying stocks.

Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Channels

You're looking at how Entravision Communications Corporation (EVC) gets its value propositions to the market as of late 2025. It's a blend of traditional media assets and a rapidly growing ad-tech arm. Here's the breakdown of the primary channels they use to reach customers.

Advertising Technology & Services (ATS) platform for global reach

The programmatic advertising technology and services segment, which includes the Smadex demand-side platform and the Adwake media agency, serves advertisers and mobile app developers on a global basis. This channel is showing explosive growth, which is a key focus area for Entravision Communications Corporation right now. Investments in AI capabilities and sales capacity are driving this channel's reach.

Here are the recent performance numbers for this channel:

Metric	Value (Q3 2025)	Comparison to Q3 2024
ATS Segment Net Revenue	$76.1 million	Increased 104%
ATS Segment Operating Profit	$9.8 million	Increased 378%
Sequential Quarterly Revenue Growth (Q2 to Q3 2025)	N/A	38%

This segment's revenue growth is the primary driver lifting the consolidated numbers. It's definitely the growth engine.

Owned and operated U.S. television and radio broadcast stations

This is the core of the Media segment, focusing on serving the U.S. Hispanic community. Entravision Communications Corporation operates the largest affiliate group for both the Univision and UniMás television networks. They also hold a significant radio footprint.

• Television stations are affiliated with TelevisaUnivision networks in 21 markets, including 14 of the top 50 U.S. Latino markets.
• They own and operate 44 radio stations in the U.S., consisting of 37 FM and 7 AM stations.
• These radio stations broadcast into markets covering approximately 19 million U.S. Latinos, representing about 31% of the total U.S. Latino population.

The performance of these broadcast assets is currently under pressure. For the third quarter ending September 30, 2025, the Media segment net revenue was $44.5 million, a year-over-year decrease of 26%, resulting in an operating loss of $3.5 million.

Local and national direct sales forces for media segment

Direct sales forces are the mechanism used to monetize the owned and operated media assets. They target both local and national advertisers for video, audio, and digital marketing services. The sales teams are focused on driving advertising spend across the local media properties.

The composition of the Media segment revenue shows where the sales efforts are currently facing headwinds:

• The 26% year-over-year revenue decline in Q3 2025 was primarily due to lower revenue from national television and radio advertisers and a drop in political revenue.
• For local media operations in Q3 2025, metrics like average monthly advertisers and revenue per average monthly advertiser were flat year-over-year.

Digital advertising services and local digital content websites

Digital advertising is a component within the Media segment, providing an offset to the broadcast declines. This channel involves selling digital marketing services and leveraging local digital content websites to reach audiences. While the overall Media segment revenue declined in Q3 2025, the digital advertising revenue component provided a partial offset to that decrease.

Cable and satellite providers via retransmission consent

This channel involves securing payments from Multichannel Video Programming Distributors (MVPDs) for the right to rebroadcast Entravision Communications Corporation's television signals. This revenue stream is a direct channel of cash flow from distributors to the company.

The retransmission consent revenue stream was also cited as a factor contributing to the Media segment's net revenue decrease in Q3 2025. You should note that the term for all current agreements with MVPDs for their Univision and UniMás network affiliate stations is set to expire on December 31, 2026.

For context on the total picture, Entravision Communications Corporation's consolidated net revenue for Q3 2025 was $120.6 million, up 24% year-over-year, with a trailing twelve-month revenue of $0.42 Billion USD as of November 2025.

Entravision Communications Corporation (EVC) - Canvas Business Model: Customer Segments

You're looking at the specific groups Entravision Communications Corporation (EVC) serves across its two main operating segments, Media and Advertising Technology & Services (ATS). This breakdown shows where the revenue is coming from, which is key for understanding their current strategy.

The customer base is split between traditional media buyers and the rapidly growing digital ad tech clients. Here's how the primary groups look based on the 2025 reporting structure:

• Global advertisers and mobile app developers (ATS segment)
• Local and national advertisers targeting U.S. Hispanic audiences
• U.S. Hispanic/Latino consumers of video and audio content
• Cable and satellite operators paying for retransmission consent
• Institutional investors and hedge funds, owning 69.46% of the stock

The ATS segment, which serves global advertisers and mobile app developers, has been the primary growth engine throughout 2025. For instance, in the third quarter of 2025, the net revenue for the Advertising Technology & Services segment increased by a massive 104% year-over-year. This growth was driven by an increase in monthly active advertisers and higher revenue per monthly active account.

Contrast that with the Media segment, which targets local and national advertisers in the U.S. This segment saw a significant revenue contraction in the same period. You can see the quarterly revenue dynamics here:

Customer Group/Segment	Q1 2025 Net Revenue Change (YoY)	Q2 2025 Net Revenue Change (YoY)	Q3 2025 Net Revenue Change (YoY)
Media Segment (U.S. Advertisers)	Decreased 10%	Decreased 8%	Decreased 26%
ATS Segment (Global Advertisers/Developers)	Increased 57%	Increased 66%	Increased 104%

The local media operations, which serve local advertisers, showed some resilience, with the average monthly advertisers and revenue per average monthly advertiser being flat year-over-year in the third quarter of 2025. Still, the overall Media segment faced headwinds, reporting an operating loss of $3.5 million in Q3 2025, down from an operating profit of $11.7 million in Q3 2024.

For the U.S. Hispanic/Latino consumers, Entravision Communications Corporation positions itself as a key gateway. The company operates as the largest affiliate group for the TelevisaUnivision networks. According to data cited by Entravision Communications Corporation, the Univision and UniMás networks combined represent more than half of Spanish language broadcast prime time viewers.

Cable and satellite operators are a distinct customer group, as they pay Entravision Communications Corporation for retransmission consent. This revenue stream was noted as a contributor to the decrease in Media segment net revenue in the first quarter of 2025.

Finally, the financial community, including institutional investors and hedge funds, are critical stakeholders. As of the data available, these entities collectively held approximately 69.46% of the stock. The company's focus on debt reduction, including prepaying $5 million in the third quarter of 2025, is directly aimed at this group.

Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving Entravision Communications Corporation's costs as of late 2025. It's a story of digital investment colliding with media contraction, so the cost structure reflects that tension.

The Cost of Revenue, which is highly variable based on ad volume, saw the total for the company reach $50.98 million in the third quarter of 2025. This is set against the backdrop of the Advertising Technology & Services (ATS) segment revenue surging by 104% to $76.1 million in that same quarter, indicating a significant increase in the variable costs associated with programmatic ad transactions.

For the ATS segment specifically, the push for growth required investment, which shows up in operating expenses. Total operating expenses in the ATS segment increased by 58% in the third quarter of 2025 compared to the prior year, representing an increase of $7.4 million. This is slightly different from the 60% increase you mentioned, but it's the real-life figure from Q3 2025.

Debt service costs are being actively managed. Following a strategic amendment to the credit agreement in July 2025, scheduled quarterly term loan payments were increased to $5 million. Entravision Communications Corporation made a payment of $5 million on its bank term loan in the third quarter of 2025, bringing the total reduction for the year up to $15 million.

Costs related to personnel are shifting due to strategic reorganization. The company is expanding sales capacity, particularly in ATS, but is simultaneously streamlining the Media segment. Corporate expenses were down 41% in Q2 2025 due to reductions in salaries and bonuses. However, the Q3 2025 restructuring plan involved a 5% reduction of the Media segment workforce.

The financial impact of the strategic realignment is clearly visible in the non-recurring charges for Q3 2025. The consolidated operating loss of $9.1 million included specific charges that sum to $8.9 million.

Here's a quick breakdown of those significant non-operating charges from Q3 2025:

• Impairment charge (non-cash): $5.7 million
• Restructuring costs: $3.2 million

To be fair, excluding these charges, the company was effectively breakeven on an operating basis for the quarter.

The cost structure components for Q3 2025 can be summarized as follows:

Cost Component	Financial Amount (Q3 2025)	Context/Change
Total Cost of Revenue	$50.98 million	Total cost associated with generating $120.6 million in revenue.
ATS Segment Operating Expense Increase (YoY)	58% increase	Represents an increase of $7.4 million over Q3 2024.
Quarterly Term Loan Payment	$5 million	Scheduled payment amount following the July 2025 credit agreement amendment.
Restructuring Charge (Q3 2025)	$3.2 million	Associated with workforce reduction and facility closures.
Impairment Charge (Q3 2025)	$5.7 million	Primarily related to assets held for sale.
Corporate Expense (Q3 2025)	$6.3 million	Represents a 9% decrease compared to Q3 2024.

The company is definitely shifting its spending profile. If onboarding the new sales capacity takes longer than expected, those salary and commission costs will continue to pressure the Media segment's profitability, which posted a loss of $3.5 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

Entravision Communications Corporation (EVC) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for Entravision Communications Corporation as of late 2025, and frankly, the story is one of two very different businesses operating under one roof. The company's revenue streams are clearly bifurcated between its legacy media assets and its rapidly growing advertising technology arm. This split is key to understanding their current financial picture.

For the third quarter ending September 30, 2025, Entravision Communications Corporation posted a consolidated net revenue of $120.6 million. This represented a significant year-over-year increase of 24% compared to Q3 2024. That overall growth masks the internal dynamics, which we can see clearly when we break down the two main segments.

Here's a quick look at the revenue contribution by segment for Q3 2025:

Revenue Stream Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Change
Advertising Technology & Services	$76.1 million	+104%
Media Segment	$44.5 million	-26%
Consolidated Net Revenue	$120.6 million	+24%

The Advertising Technology & Services revenue, which you can think of as their programmatic advertising business, was the engine here, generating $76.1 million. That segment saw a massive 104% surge, fueled by strategic investments in AI capabilities and expanded sales capacity, leading to higher advertising spend per client.

The Broadcast advertising revenue from Media segment (TV and Radio), however, faced headwinds. The Media segment contributed $44.5 million, which was a 26% decline year-over-year. This segment's performance is sensitive to cyclical spending patterns, and Q3 2025 showed that sensitivity clearly. What this estimate hides is the impact of the political advertising cycle; 2024 had significant political revenue that was not present in 2025.

The decline in the Media segment revenue was driven by several factors related to traditional advertising sales:

• Lower political revenue compared to the prior year.
• Weaker revenue from national television and radio advertisers.
• Decreases in broadcast advertising revenue.
• Decreases in retransmission consent revenue from cable/satellite providers.

To be fair, the Digital advertising revenue within the Media segment provided some offset, as local media operations saw average monthly advertisers and revenue per average monthly advertiser remain flat year-over-year. Still, the overall drag from broadcast and national advertising was too much to overcome in the quarter. Finance: draft 13-week cash view by Friday.