Operator

Good day, everyone, and welcome to the Saga Communications First Quarter 2026 Conference Call and Earnings Release.

[Operator Instructions]

It is now my pleasure to hand the floor over to your host, Chris Forgy. Sir, the floor is yours.

Christopher Forgy
CEO, President & Director

Thank you, Matt, and thank you to everyone who has taken the time to join Saga's 2026 Q1 Earnings Call. We appreciate your continued support, your interest and your participation in Saga Communications, what we believe is the best media company on the planet.

With that, I'm going to turn it over to Sam Bush, our Executive Vice President and Chief Financial Officer. Sam, the floor is yours for now until I take it back from you.

Samuel D. Bush
Executive VP, CFO & Treasurer

Very good. Thank you, Chris. This call will contain forward-looking statements about our future performance and results of operations that involve the risks and uncertainties that are described in the Risk Factors section of our most recent Form 10-K. This call will also contain a discussion of certain non-GAAP financial measures. Reconciliation for all the non-GAAP financial measures to the most directly comparable GAAP measure are attached in the selected financial data tables.

For the quarter ended March 31, 2026, net revenue decreased $1.3 million or 5.6% to $22.9 million compared to $24.2 million last year. Political was not a factor in the quarter as for the first quarter in 2025, gross political revenue was $271,000 compared to $275,000 in 2026. For 2026, we currently have $1.4 million in gross political revenue on our books compared to gross political revenue of $650,000 for the whole year in 2025 and $3.3 million