Saga Communications, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, reporting a net loss of $7.092 million for the third quarter driven in part by a $9.212 million impairment of intangible assets.

Key Highlights

  • Intangible asset impairment: The company recorded an impairment of intangible assets of $9,212 thousand in the three months ended September 30, 2026, compared to $0 in the same period of 2025.
  • Q3 net loss: Net loss for the three months ended September 30, 2026 was $7,092 thousand, or $(1.11) per basic and diluted share, versus a net loss of $532 thousand, or $(0.08) per share, in Q3 2025.
  • Nine-month net loss: For the nine months ended September 30, 2026, the company reported a net loss of $8,526 thousand, or $(1.34) per basic and diluted share.
  • Revenue decline: Net operating revenue for the three months ended September 30, 2026 was $26,656 thousand, down from $28,166 thousand in the three months ended September 30, 2025.
  • Long-term debt retired: Long-term debt stood at $0 as of September 30, 2026, compared to $5,000 thousand at December 31, 2025, according to the balance sheet.
  • Total assets decreased: Total assets were $183,046 thousand at September 30, 2026, compared to $201,322 thousand at December 31, 2025.
  • Dividends declared: Dividends declared per share were $0.25 for Q3 2026 and $0.75 for the nine months ended September 30, 2026.

Impairment Charge and Revenue Contraction Shape Saga's Q3 2026 Results

According to the filing, Saga Communications reported net operating revenue of $26,656 thousand for the three months ended September 30, 2026, a decrease from $28,166 thousand in the comparable prior-year quarter. For the nine-month period, net operating revenue was $75,925 thousand versus $80,607 thousand in the first nine months of 2025. Station operating expenses for the nine months ended September 30, 2026 were $69,695 thousand, up from $68,863 thousand in the same period of 2025.

The company disclosed a $9,212 thousand impairment of intangible assets in the third quarter of 2026, a charge that did not appear in the prior-year period. This contributed to an operating loss of $9,775 thousand for the three months ended September 30, 2026, compared to an operating loss of $626 thousand in Q3 2025. For the nine-month period, the operating loss was $12,414 thousand versus $1,515 thousand in the nine months ended September 30, 2025. The filing also noted a gain on sale of assets, net, of $990 thousand for Q3 2026 and $2,540 thousand for the nine months ended September 30, 2026.

On the balance sheet, the company reported total shareholders' equity of $140,019 thousand at September 30, 2026, down from $151,480 thousand at December 31, 2025. Retained earnings declined to $100,593 thousand from $113,884 thousand over the same period. Cash and cash equivalents were $13,990 thousand at September 30, 2026, compared to $22,506 thousand at December 31, 2025. As of November 9, 2026, the registrant reported 6,353,465 shares of Class A Common Stock outstanding. The company's Class A Common Stock trades on the NASDAQ Global Market under the symbol NASDAQ:SGA.

What Was Disclosed

Saga Communications filed its quarterly report covering the period ended September 30, 2026, disclosing a $9,212 thousand impairment of intangible assets, a Q3 net loss of $7,092 thousand, reduced revenue, elimination of long-term debt, and continued quarterly dividends of $0.25 per share.