比斯利广播 2025年度报告

(Mark One) ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto _______________________Commission File Number: 000-29253 BEASLEY BROADCAST GROUP, INC. (Exact name of registrant as specified in its charter) Delaware65-0960915(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)3033 Riviera Drive, Suite 200Naples, Florida 34103(Address of principal executive offices and Zip Code)(239) 263-5000(Registrant’s telephone number, including area code)Securities Registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesNoIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ Accelerated filer☐Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesNoAs of June 30, 2025, the aggregate market value of the Class A Common Stock held by non-affiliates of the registrant was $2,806,865 based on the number of shares outstanding as of such date and the closing price of $4.15 on NASDAQ’s National Market System on such date, the last business day of our most recentlycompleted second fiscal quarter.Class A Common Stock, $.001 par value, 973,170 Shares Outstanding as of April 1, 2026 Class B Common Stock, $.001 par value, 833,137 Shares Outstanding as of April 1, 2026Documents Incorporated by Reference Certain information in the registrant’s Definitive Proxy Statement on Schedule 14A for its 2026 Annual Meeting of Stockholders, is incorporated by reference in Part III of this report. BEASLEY BROADCAST GROUP, INC.ANNUAL REPORT ON FORM 10-KFOR THE YEAR ENDED DECEMBER 31, 2025TABLE OF CONTENTS Part I—Financial Information Item 1.Business.Item 1A.Risk Factors.Item 1B.Unresolved Staff Comments.Item 1C.Cybersecurity.Item 2.Properties.Item 3.Legal Proceedings.Item 4.Mine Safety Disclosures. Part II—Other InformationItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.23Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.24Item 7A.Quantitative and Qualitative Disclosures About Market Risk.34Item 8.Financial Statements and Supplementary Data.35Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.64Item 9A.Controls and Procedures.64Item 9B.Other Information.65Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.65 Part IIIItem 10.Directors, Executive Officers and Corporate Governance. 66Item 11.Executive Compensation.66Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.66Item 13.Certain Relationships and Related Transactions, and Director Independence.66Item 14.Principal Accountant Fees and Services.66 Part IV Item 15.Exhibit and Financial Statement Schedules.Item 16.Form 10-K Summary.Signatures 676970 CERTAIN DEFINITIONS Unless the context requires otherwise, all references in this report to the “Company,” “we,” “us,” “our” and similar terms refer toBeasley Broadcast Group, Inc. and its consolidated subsidiaries. PART I ITEM 1. BUSINESS Overview We are a