Recent Updates — BMTM
Bright Mountain Media, Inc. dismissed WithumSmith+Brown, PC as its independent registered public accounting firm effective immediately on September 21, 2026, and appointed Grassi & Co., Certified Public Accountants, P.C. as the new auditor for the quarter ending September 30, 2026, and fiscal year ending December 31, 2026. Withum’s audit reports for fiscal years ended December 31, 2025, and 2024 contained explanatory paragraphs regarding substantial doubt about the Company’s ability to continue as a going concern. There were no disagreements with Withum on accounting principles or reportable events during the two most recent fiscal years. This amendment files Withum's agreement letter dated September 24, 2026. The company operates in the media and entertainment industry.
Bright Mountain Media, Inc. dismissed WithumSmith+Brown, PC as its independent registered public accounting firm effective immediately on September 21, 2026, following Audit Committee approval. The company engaged Grassi & Co., Certified Public Accountants, P.C. to review financial statements for the quarter ending September 30, 2026, and audit fiscal year 2026 results. Withum's reports for fiscal years ended December 31, 2025, and 2024 included explanatory paragraphs regarding substantial doubt about the company's ability to continue as a going concern. There were no disagreements with Withum on accounting principles or auditing matters during the two most recent fiscal years. Bright Mountain Media operates in the media industry.
Bright Mountain Media, Inc. reported financial results for the second quarter and six months ended June 30, 2026. Revenue decreased 12% to $13.6 million in Q2 and 7% to $27.6 million year-to-date compared to prior-year periods. The company posted a net loss of $3.2 million for the quarter, an improvement of 22%, and a net loss of $4.5 million for the first half, representing a 38% improvement over the same period in 2025. Adjusted EBITDA turned positive to $2.2 million for the six-month period, up from $599,000 previously. The company operates in the digital publishing, advertising technology, and media services industry.
Bright Mountain Media, Inc. entered into the Twenty-Seventh Amendment to its Amended and Restated Senior Secured Credit Agreement on June 30, 2026. The amendment defers a $840,000 quarterly installment for Second Out Loans from June 30, 2026, to December 20, 2026, and converts a $210,000 interest payment into a payable-in-kind arrangement. As consideration, the Company will issue 2,980,903 shares of common stock, representing 1.5% of the fully-diluted pro forma ownership, to Centre Lane Partners. Following this issuance, Centre Lane Partners and affiliates will hold approximately 28.8% of the common stock. The Credit Agreement matures on December 20, 2026, with approximately $93.2 million due at that time. Bright Mountain Media, Inc. is a media company.