PURCHASE, N.Y., Aug. 17, 2026 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare” or the “Company”), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Midlands Media Group, a Columbia, S.C.-based multimedia company with two radio stations, a digital news service, a digital ticketing provider, a discount certificate site, and a comprehensive digital advertising platform.
“Midlands Media Group has built a highly local portfolio of radio and digital news brands with engaged audiences and a strong market presence, making them an ideal partner for our digital platform and services,” said Shaun Collignon, CRO of Townsquare Ignite, the Company’s Digital Advertising division. “By combining their multi-channel reach with our proprietary technology, data-driven strategy, and execution expertise, we are well positioned to unlock new revenue opportunities and drive meaningful, measurable growth.”
In 2024, Townsquare launched its Media Partnerships division as part of Townsquare Ignite, its Digital Advertising segment, to bring its industry-leading digital solutions to other local media companies. The division provides a white-label service that allows partners to tap into the same data-driven strategies and proprietary technology that have powered Townsquare’s success, with digital now contributing more than half of the Company’s total revenue and profit.
This partnership with Midlands Media Group is one of 16 strategic alliances Townsquare has established under this initiative, collectively expanding the Company’s reach into 41 new markets beyond its owned and operated footprint, including those in the Top 50 markets. Townsquare will work closely with Midlands Media Group, which operates in the #90-ranked MSA in the United States, to deliver customized, data-driven advertising solutions tailored to local, regional, and national clients, helping to grow their digital business while enhancing the value of their trusted broadcast and multimedia platforms.
“This alliance reflects our continued commitment to helping leading local media companies to more fully monetize their audiences across platforms and deliver stronger results for their clients,” Collignon added.
“Midlands Media Group is very excited to partner with Townsquare Ignite to further expand our digital solutions capabilities. After extensive evaluation and industry experience, we believe Townsquare Ignite is best-in-class and fully committed to digital growth. Their team and technology position us to accelerate results for our clients across all platforms,” said Keith Stover, President & CEO of Midlands Media Group.
Marie Stover, Chief Operating Officer of Midlands Media Group, added: “Our unique focus is to super-serve the marketing needs of local businesses in our community. Adding Townsquare Ignite’s digital marketing component to our market-leading radio and news products positions us to deliver fully integrated campaigns that are authentic, high-impact, and measurable. We look forward to what this partnership will bring to our clients and communities.”
About Townsquare Media, Inc. Townsquare is a community-focused digital and broadcast media and digital marketing solutions company principally focused outside the top 50 markets in the U.S. Townsquare Ignite, our robust digital advertising division, specializes in helping businesses of all sizes connect with their target audience through data-driven, results based strategies, by utilizing a) our proprietary digital programmatic advertising technology stack with an in-house demand and data management platform and b) our owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data. Townsquare Interactive, our subscription digital marketing services business, partners with SMBs to help manage their digital presence by providing a SAAS business management platform, website design, creation and hosting, search engine optimization and other digital services. And through our portfolio of local radio stations strategically situated outside the Top 50 markets in the United States, we provide effective advertising solutions for our clients and relevant local content for our audiences. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.
About Midlands Media Group Midlands Media Group is a Columbia, S.C.-based multimedia company and the only locally owned and operated media company in the Columbia market. The company connects local audiences and businesses through two radio stations, a digital news service, a digital ticketing provider, a discount certificate platform and a comprehensive suite of digital advertising solutions.
CULVER CITY, Calif., Aug. 14, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading independent global developer and publisher of interactive digital entertainment, today highlighted several recent milestones across its gaming portfolio, including a newly released title, upcoming PixARK content, and continued development of the indie portfolio.
Stoneguard, developed by a two-person independent development team and published under the Wandering Wizard label, launched on Steam Early Access and has achieved a “Mostly Positive” rating from Steam users to date. The Early Access launch provides the development team with an opportunity to continue refining the game based on player feedback while expanding its content and features.
Wandering Wizard also released a new demo and trailer for Veil of Madness, providing players with an updated look at the upcoming first-person psychological horror deckbuilding game. The latest materials are intended to allow players to experience the game ahead of its full release later this year as development continues.
Alongside the new content for its indie label, Snail Games has released a new demo for Dead Party, a sequel to the title Dead Block. The new demo represents the latest development milestone and provides players with an early opportunity to experience the co-op party action game.
Snail Games has also announced the official release date for PixARK: Terracrypt, the voxel-based sandbox survival game’s first premium expansion, set to launch on Steam on August 26, 2026. As the largest expansion created for PixARK, Terracrypt will deliver more than 200 hours of gameplay, 80 new creatures, and 12 new biomes.
Snail Games intends to continue providing updates on its portfolio as projects progress toward additional releases, demonstrations, and milestones. With a robust slate of ARK content, alongside AAA and indie titles in development, the Company remains focused on executing against its pipeline through the second half of 2026.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
About Wandering Wizard Wandering Wizard is passionately committed to championing indie game developers. We provide a platform for fresh voices, revolutionary ideas, and daring experiments within the indie gaming realm. Embracing the inherent risks of indie game development, we partner with creators worldwide to enrich the global gaming community with inclusive, inspiring, and innovative gaming experiences. For more information, please visit: wanderingwizard.com.
Forward-Looking Statements: This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: the Early Access launch providing an opportunity to continue refining a game based on player feedback while expanding its content and features; the demo and trailer for Veil of Madness allowing players to experience the game ahead of its full release later this year as development continues; the Company’s continued exploration of artificial intelligence and interactive technologies; Snail Games’ intent to continue providing updates on its portfolio and its projects progressing toward additional releases, demonstrations, and milestones; and the Company’s efforts to become a world-class game developer and publisher with a diversified portfolio and a technological leader in the wide range of interactive entertainment space.
Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 [email protected]
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 exceeded expectations. Revenue declined 6.5% year over year to $26.4 million, beating our estimate of $25.5 million by 3.5%. Additionally, adj. EBITDA of approximately $1.1 million compared favorably with our $0.1 million estimate. The beat reflected growth in blended digital revenue, which cushioned double-digit declines across the traditional broadcast business.
Digital continues to scale. Blended digital offering grew 60.8% during the quarter and was up 76.4% for the first 6 months of the year. Digital reached 19% of gross revenue in the first half compared with 14% a year ago. Management has brought search capabilities in-house with three dedicated specialists, hired and trained ten digital campaign managers, and migrated digital fulfillment to a new platform. In our view, the pace of blended digital growth is the most encouraging development in the quarter and the clearest evidence that the multi-year platform build is beginning to convert.
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Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A milestone quarter. Newsmax reported record Q2 revenue of $54.1 million, up 16.5%, while Adjusted EBITDA improved to $5.7 million from a loss of $3.8 million, and the company generated its first quarterly net income as a public company. We believe the results provide an important early indication of the operating leverage inherent in the business model.
Higher-margin revenue streams gaining momentum. Affiliate fee revenue increased 81.9% to $13.4 million, while licensing revenue increased 563.5% to $4.6 million. In our view, continued affiliate repricing and licensing growth should improve the company’s revenue mix and provide an increasingly important driver of margin expansion.
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Reddit (NYSE: RDDT) will join the S&P 500 before markets open on Tuesday, August 18, S&P Dow Jones Indices announced Thursday, sending shares as much as 15% higher in after-hours and premarket trading. The stock will replace AvalonBay Communities, which is exiting the index following its acquisition by fellow S&P 500 member Equity Residential, a deal shareholders overwhelmingly approved this week. The combined entity will drop both legacy names and begin trading as Vivmark Residential once the transaction closes.
This is an off-cycle inclusion, triggered by the vacancy AvalonBay’s departure created rather than a scheduled quarterly rebalance, which is exactly the same mechanism we detailed in our earlier coverage of the Russell reconstitution process, index committees filling open seats based on eligibility rules rather than a fixed calendar.
The Detail That Actually Unlocked This Move
The most instructive part of this story is not the price pop itself, it is what made Reddit eligible in the first place. S&P’s index committee requires candidates to demonstrate sustained profitability, and Reddit did not post a full fiscal year of positive GAAP net income until 2025, when the company reported roughly $530 million in net income on $2.2 billion in revenue. That single financial milestone is what flipped Reddit from ineligible to eligible, ending months of speculation about when the company might finally clear the bar. Reddit becomes only the second pureplay social media company in the S&P 500, alongside Meta, with larger, longer-established platforms like Pinterest and Snap still falling short on scale.
Context Matters Here: This Is a Bounce, Not Just a Breakout
It is worth noting Reddit shares had fallen more than 22% over the prior month and were down roughly 31% year to date heading into this announcement, following concerns about Google search traffic dependency and AI-driven changes to how users discover content. Part of Thursday’s surge likely reflects short covering as much as new buying interest, with roughly 13% of Reddit’s available float sold short heading into the news, representing several days worth of potential buy-side pressure if those positions unwind.
Why the “Index Effect” Has Weakened Over Time
Academic research has long documented what is known as the index effect, a historical tendency for stocks to see a price bump between an inclusion announcement and the effective date, as funds tracking the S&P 500 are forced to buy shares regardless of valuation. That effect has thinned considerably over the past decade, largely because active managers now anticipate these moves and front-run them, meaning much of the price reaction happens on the announcement itself rather than during the actual passive buying window. History also offers a caution here. When Workday’s S&P 500 inclusion was announced in December 2024, shares initially jumped roughly 10%, only to fall 19% from that peak in the weeks after actually joining the index, a reminder that an inclusion pop and sustained outperformance are not the same thing.
For investors following the small cap space, this story is a useful real-time illustration of a dynamic that applies at every level of the market, not just the S&P 500. Whether it is a company graduating into the Russell 1000 from the Russell 2000 or, as in this case, into the S&P 500 itself, forced passive buying can create a genuine, mechanical demand shock independent of a company’s underlying fundamentals. Understanding that distinction, between a stock moving because trillions in indexed capital must now own it and a stock moving because its business has fundamentally improved, is one of the more useful lenses an investor can apply across market cap ranges.
Company Reports Record Quarterly Revenues of $54.1 million, a 16.5% Year-Over-Year Increase
Broadcast Revenues Increase to $45.8 million, a 20.5% Increase Year-Over-Year
Company Reports Net Income of $2.9 million and Adjusted EBITDA of $5.7 million, Its First Profitable Quarter as a Public Company
BOCA RATON, FL / ACCESS Newswire / August 13, 2026 / Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced its financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Business and Operational Highlights
Delivered second quarter audience reach of 26.9 million total viewers, up 4% year-over-year and the highest second quarter total reach in the past four years, including 11.3 million Adults 35-64, reinforcing Newsmax’s position as the fourth highest-rated cable news channel and #2 in cable news audience engagement among Adults 35-64.
Continued to strengthen the Company’s multi-platform audience ecosystem, with total social media followers rising to 26.2 million as of June 30, 2026.
Entered into the Company’s first major AI content partnership, a multi-year partnership with Meta that puts Newsmax content across Meta’s apps and devices, reflecting a broader strategy of licensing content to leading AI technology companies.
Achieved exceptional growth in our international licensing business, with multiple brand content licenses signed this year and related licensing revenues expected to increase 344% year-over-year to approximately $16 million in 2026, including the Q2 launch of the Newsmax Poland channel with longtime partner Telekom Serbia, all strengthening the Newsmax brand, which reaches more than 100 countries worldwide.
Management Commentary
“This was a milestone quarter for Newsmax. We delivered record revenues and our first quarterly net income since becoming a public company, led by strong growth in affiliate fees and licensing, our highest-margin revenue streams,” said Christopher Ruddy, Chief Executive Officer of Newsmax. “Halfway through the year, we continue to execute on our growth strategy. With the majority of one-time costs of becoming a public company largely behind us, the value creation opportunities of our multi-platform model are showing positive results.”
Ruddy continued, “We are still in strategic investment mode, and that will not change. We continue to invest in content and streaming, while our licensing strategy is growing rapidly, domestically with AI deals like the one we completed with Meta, and internationally with media partners licensing our brand and content. Our strategy is to maximize these relationships to license the Newsmax brand and launch local channels in foreign markets, a model that requires minimal capital from us. We are also staying at the forefront of emerging technology, and our recently announced AI partnership will help us meet viewers wherever they consume content. The market for center right news is huge with limited options and significant whitespace to grow, increase monetization and deliver sustainable, long-term growth for our shareholders.”
“Our second quarter results demonstrate the operating leverage we are building across the business, with net income of $2.9 million and Adjusted EBITDA of $5.7 million,” commented Darryle Burnham, Chief Financial Officer of Newsmax. “The improvement in our revenue mix, combined with the operating discipline we have established in our second year as a public company, allowed strong top-line growth to flow through to the bottom line. We will continue to invest in content, distribution and OTT initiatives that support long-term growth, and with a strong balance sheet, no debt and a disciplined approach to capital allocation, we are reiterating our full-year revenue guidance and remain focused on sustainable, long-term shareholder value.”
Financial Results: Revenue by Segment by Component Table (unaudited):
Second Quarter 2026 Financial Highlights:
Newsmax reported record total quarterly revenues of $54.1 million for the three-month period ended June 30, 2026, representing a 16.5% year-over-year increase and the highest quarterly revenues in the Company’s history.
Total broadcasting revenues grew 20.5% year-over year to $45.8 million for the second quarter of 2026. This was driven by an increase in affiliate fee revenue attributed to new contractual relationships and rate increases that took effect in late 2025 and 2026, as well as expanded international licensing agreements.
Newsmax reported a quarterly net income of $2.9 million, or $0.02 per share, the Company’s first quarterly net income since becoming a public company, as compared to a net loss of $(75.2) million reported in same quarter in the prior year. The improvement was primarily driven by higher total revenue, improved operating efficiency and the absence of legal settlement expenses recorded in the prior-year period.
Quarterly adjusted EBITDA was $5.7 million, the Company’s highest as a public company and an improvement of $9.5 million from $(3.8) million reported in the same quarter last year, primarily due to growth in high-margin affiliate fee and licensing revenue and lower general and administrative expenses, partially offset by continued investment in programming, production and OTT initiatives. See reconciliation of net income (loss) to adjusted EBITDA below.
The Company ended the quarter with $128.3 million in cash and short-term investments. Cash and cash equivalents were $25.9 million and short-term investments were $102.4 million.
The Company is reiterating its previously issued full-year 2026 revenue guidance of $212 million to $216 million, representing 13% year-over-year growth at the midpoint of the range.
About Newsmax
Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major pay TV providers. Newsmax’s media properties reach more than 50 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches over 26 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”
For more information, please visit Investor Relations | Newsmax Inc.
This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to changes in domestic and global general economic and macro-economic conditions and the volatility of the price of Common Stock that may result from, among other things, comments by securities analysts or other third parties, including blogs, articles, message boards and social and other media, large shareholders exiting their position in our Common Stock, any negative public perception of us, sales of shares previously registered for resale, or other uncertainties and the factors set forth in the sections entitled “Risk Factors” in Newsmax’s Annual Report on Form 10-K for the twelve months ended December 31, 2025 and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.
USE AND DEFINITION OF NON-GAAP FINANCIAL MEASURES
This press release contains a financial measure that has not been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). This financial measure is Adjusted EBITDA.
Non-GAAP financial measures are used to supplement the financial information presented on a U.S. GAAP basis and should not be considered in isolation or as a substitute for the relevant U.S. GAAP measures and should be read in conjunction with information presented on a U.S. GAAP basis. Because not all companies use identical calculations, our presentation of Non-GAAP measures may not be comparable to other similarly titled measures of other companies.
Adjusted EBITDA1 is defined as revenues less cost of revenues and general and administrative expenses and does not include depreciation, amortization related to the incremental costs to obtain a contract, interest expense, net, impairment charges, unrealized gains (losses) on marketable securities, stock-based compensation, other corporate matters (consisting primarily of certain litigation expenses, and related fees, for specific legal proceedings that the Company has determined are infrequent and unusual in terms of their magnitude), other, net, and income tax expense.
You are encouraged to evaluate each adjustment used in calculating our non-GAAP financial measure and the reasons we consider our non-GAAP financial measure appropriate for supplemental analysis. In evaluating our non-GAAP financial measure, you should be aware that in the future we may incur expenses similar to the adjustments in our presentation. Our non-GAAP financial measure has limitations as an analytical tool, and you should not consider this measure in isolation or as a substitute for analysis of our results as reported under GAAP. Our presentation of our non-GAAP financial measure should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Our non-GAAP financial measure may not be comparable to other companies. Please see a historical reconciliation of this measure to the most comparable GAAP measure presented in our consolidated financial statements below.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 results highlight meaningful operating leverage. Second-quarter revenue was $44.1 million, while Adjusted EBITDA of $5.3 million was well above our previous $2.2 million estimate. We believe the results provide encouraging evidence that recent cost actions are materially improving EBITDA conversion despite continued pressure on traditional advertising.
Cost reductions are beginning to reshape the earnings profile. Operating expenses declined 13.2% year-over-year, and management implemented an additional $10 million of annualized expense reductions during the quarter, bringing total savings over the trailing twelve months to roughly $30 million. In our view, the magnitude of these savings suggests normalized earnings power could be greater than previously anticipated.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
PURCHASE, N.Y., Aug. 12, 2026 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare” or the “Company”), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Muirfield Broadcasting, home to STAR 102.5 FM and WIOZ 550 AM, whose trusted local brands have connected businesses with audiences throughout North Carolina’s Sandhills and Moore County for more than 50 years.
In 2024, Townsquare launched its Media Partnerships division as part of Townsquare Ignite, its Digital Advertising segment, to bring its industry-leading digital solutions to other local media companies. Through a white-label offering, the division enables partners to benefit from the same proprietary technology, operational expertise, and data-driven strategies that have fueled Townsquare’s success, with digital now contributing more than half of the Company’s total revenue and profit.
“We’re seeing growing interest from local media companies looking to diversify and grow their digital advertising business while strengthening their relationships with advertisers. Because Townsquare has successfully transformed its own business, we’re uniquely positioned to help other broadcasters do the same,” said Shaun Collignon, CRO of Townsquare Ignite, the Company’s Digital Advertising division. “By combining Muirfield’s trusted local brands and deep community relationships with Townsquare’s proprietary technology, digital advertising expertise, and data-driven strategies, we’re enabling Muirfield to offer a broader suite of marketing solutions that deliver measurable business results while opening doors to new advertisers – including businesses that may not have traditionally considered radio. That’s what continues to make our Media Partnerships platform so compelling.”
The partnership with Muirfield Broadcasting is one of 16 strategic alliances Townsquare has established under this initiative, collectively expanding the Company’s reach into 41 new markets beyond its owned and operated footprint. Through this collaboration, Townsquare will provide Muirfield with customized, data-driven digital advertising solutions that complement its trusted local brands, enabling the company to deliver a more comprehensive suite of marketing services to local, regional, and national advertisers.
“We are excited to work with Townsquare Ignite; this partnership strengthens our ability to deliver comprehensive marketing solutions for our clients. By combining advanced technology, strategic expertise, and real-time campaign insights, we can offer businesses smarter, more effective digital marketing that complements the trusted reach of our local media brands,” said Tiffany Hewitt, General Manager, Muirfield Broadcasting. “Today’s businesses need more than advertising – they need a strategic marketing partner. By combining the power of live, local radio with cutting-edge digital solutions, we’re helping our clients grow their brands, reach new audiences, and achieve measurable success.”
About Townsquare Media, Inc. Townsquare is a community-focused digital and broadcast media and digital marketing solutions company principally focused outside the top 50 markets in the U.S. Townsquare Ignite, our robust digital advertising division, specializes in helping businesses of all sizes connect with their target audience through data-driven, results based strategies, by utilizing a) our proprietary digital programmatic advertising technology stack with an in-house demand and data management platform and b) our owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data. Townsquare Interactive, our subscription digital marketing services business, partners with SMBs to help manage their digital presence by providing a SAAS business management platform, website design, creation and hosting, search engine optimization and other digital services. And through our portfolio of local radio stations strategically situated outside the Top 50 markets in the United States, we provide effective advertising solutions for our clients and relevant local content for our audiences. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.
About Muirfield Broadcasting Company Muirfield Broadcasting – home of STAR 102.5 FM and WIOZ 550 AM – has proudly served the Sandhills and Moore County for more than 50 years. Combining the power of trusted local radio with a growing digital marketing platform, we deliver integrated advertising solutions that help businesses reach and engage their ideal audience. Built on a commitment to being live, local, and community-focused, Muirfield Broadcasting connects brands with the communities they serve through trusted personalities, compelling content, strategic marketing, and multi-platform campaigns across broadcast, digital, social media, streaming, and online channels.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 Results Were Soft, Ahead of a Busier Second Half. Second quarter revenue declined to $19.7 million from $22.2 million, while bookings decreased to $21.8 million from $27.1 million, and EBITDA was a $3.0 million loss versus a $2.4 million loss in the prior-year period. Despite the softer quarter, first-half revenue increased 11.1% to $47.0 million, while EBITDA improved to a loss of $0.6 million from a loss of $5.8 million.
Second-Half Setup Improves Following Major ARK Content Releases. Shortly after quarter-end, Snail released Tides of Fortune, Genesis Part 1 Ascended, and Dragontopia, establishing a more active content cadence for the remainder of 2026. Management believes the broader ARK slate through 2027 provides a strong foundation for improved monetization and revenue visibility.
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Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Another profitable quarter. Q2 revenue of $49.6 million exceeded the midpoint of guidance, while adjusted EBITDA of $6.7 million exceeded the high end and marked the company’s 11th consecutive quarter of positive adjusted EBITDA. While revenues were in line, the company exceeded our $4.5 million adj. EBITDA estimate.
Retail traction encouraging. Shakeology distribution expanded to 131 Sprouts stores, with early reorders supporting favorable sell-through, while the company recently launched in 481 Vitamin Shoppe locations. Approximately 12 additional retail decisions are expected between mid-September and late November.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 exceeded expectations. Revenue of $115.4 million and Adjusted EBITDA of $24.8 million were within management’s guidance, while Digital Advertising accelerated to 11% year-over-year growth,driven by continued strength in programmatic advertising, owned-and-operated digital properties, and Media Partnerships.
Digital transformation gaining traction. Townsquare’s Digital First strategy continues to differentiate the company from traditional radio peers. During the first half of 2026, digital businesses generated 57% of total revenue and 59% of total segment profit, while the Media Partnerships platform expanded to 16 partners, creating a scalable, capital-light growth opportunity beyond the company’s owned markets.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
CULVER CITY, Calif., Aug. 06, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will hold a conference call and webcast on Tuesday, August 11, 2026 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the second quarter ended June 30, 2026.
Snail Games management will host the conference call and webcast, followed by a question-and-answer period. Participants may listen to the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 [email protected]
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Strong Quarter Across Core Markets. Codere Online reported Q2 net gaming revenue of €69.4 million, up 27% year over year and above our €60.0 million estimate, driven by robust performance in both Spain (+25%) and Mexico (+24%). Active customers increased 12%, while average monthly spend per active customer rose 13%, demonstrating healthy customer engagement and monetization.
Profitability Continues to Improve. Adjusted EBITDA increased to €5.8 million, better than our €2.5 million estimate and €2.3 million in the prior-year period, reflecting improved marketing efficiency and operating leverage. Adjusted EBITDA margin expanded to 8.4% from 4.3% a year ago, highlighting the scalability of the company’s platform.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
