UONE

SILVER SPRING, Md., Aug. 4, 2026 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE, referred to as, "Urban One," the "Company", "we", "our" and/or "us") today reported its results for the three months ended June 30, 2026. For the three months ended June 30, 2026, net revenue was approximately $85.8 million, a decrease of 6.4% from the same period in 2025. The Company reported operating loss of approximately $11.2 million for the three months ended June 30, 2026, compared to operating loss of approximately $120.7 million for the three months ended June 30, 2025. Broadcast and digital operating income(1) was approximately $22.2 million for the three months ended June 30, 2026, a decrease of $3.5 million from the same period in 2025. Net loss was approximately $7.1 million or $(1.58) per share (basic) for the three months ended June 30, 2026, compared to net loss of $77.9 million or $(17.41)(a) per share (basic) for the same period in 2025. Adjusted EBITDA(2) was approximately $11.7 million for the three months ended June 30, 2026, compared to approximately $14.0 million for the same period in 2025. Alfred C. Liggins, III, Urban One's CEO and President stated, "We saw some sequential improvement in the second quarter compared to the first quarter, with lower rates of revenue decline. Cable Television was down 7.4%, Digital was down 8.4%, Radio was down 3.9%, and Reach Media dropped by 10.6%. In Radio, our Miller Kaplan local Radio revenues were down 10.1% year-over-year vs. the market down 7.8%; and national was down 1.5% vs. the market down 4.6%. Including local digital, second quarter Radio revenue was down 4.9%. We did approximately $1.4 million in gross political advertising in the second quarter. Radio third quarter is pacing down 2.8%. We remain in a turnaround situation at Reach Media, where we continue to be impacted by a weak marketplace, key client attrition and sales team re-building. We continue to closely manage cash flows from operations, with concerted efforts to collect receivables and manage discretionary vendor spend. During the three months ended June 30, 2026, the Company repurchased approximately $23.5 million of its 2031 Second Lien Notes at a weighted average price of approximately 42.0% of par. Year-to-date, that is a total reduction in long-term debt of $60.2 million for an annual interest savings of $4.6 million and an increase in short-term debt of $10.0 million. During the quarter we completed the disposition of WLNK and WMXG in Charlotte. Our revised Adjusted EBITDA(2) guide for 2026 is now in the mid-fifty-million dollar range, given the realities of the current marketplace." (a) Weighted-average shares outstanding used in the computation of basic and diluted net loss to common stockholders per share have been retroactively adjusted to reflect the 1-for-10 Reverse Stock Split that occurred on January 22, 2026. Detailed segment data for the three and six months ended June 30, 2026 and 2025 is presented in the following tables: During the three months ended June 30, 2026, the Company repurchased approximately $23.5 million of its 2031 Second Lien Notes at a weighted average price of approximately 42.0% of par. As the 2031 Second Lien Notes are accounted under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors, no gain was recorded. Instead, the Company recorded an additional premium of $13.6 million, which is included in long-term debt, net on the Company's consolidated balance sheets. The Company made two additional draws of $5.0 million each for a total of $10.0 million in the second quarter of 2026, payable at an interest rate of approximately 6.75% and 6.01%. After giving effect to the outstanding $20.0 million drawdown and adjustments to account for the Borrowing Base, the Company's borrowing capacity was approximately $26.1 million as of June 30, 2026. The Company further made an additional draw of $7.0 million in the third quarter of 2026, payable at an interest rate of approximately 6.12%. The Company repaid the May 2026 draw of $5.0 million on August 2, 2026. After giving effect to the additional draw of $7.0 million, the $5.0 million repayment, and adjustments to account for the Borrowing Base, the Company's borrowing capacity was approximately $24.1 million. Dispositions and Acquisitions In March 2026, the Company entered into agreements to sell its WMXG and WLNK-FM radio broadcasting licenses in Charlotte, North Carolina along with the associated station assets from the Radio Broadcasting segment to unrelated third parties for approximately $0.7 million and $4.2 million, respectively. FCC approval was obtained on May 13, 2026 for the WMXG station and on May 12, 2026 for the WLNK-FM station. The Company completed both sales on June 1, 2026 and recognized a gain of $4.7 million, which is included in Gain On Sale Of Business in the unaudited consolidated statement of operations for the three and six months ended June 30, 2026. On April 28, 2026, the Company entered into an agreement to acquire Service Broadcasting Group, LLC, including radio stations KKDA and KRNB in Dallas, Texas for $22.0 million. At the same time, the Company also entered into an agreement to sell radio station KZMJ from the Radio Broadcasting segment to Fuzion Dallas, LLC for $6.0 million. FCC approval was obtained on June 23, 2026 and the Company completed the sale of KZMJ on July 6, 2026. The Company recognized a gain of $3.2 million on the KZMJ disposition in the third quarter of 2026. FCC approval was obtained on June 26, 2026 for the Service Broadcasting Group, LLC acquisition and the acquisition was completed on July 17, 2026. Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One's control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One's reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the "SEC"). Urban One does not undertake any duty to update any forward-looking statements. For the three months ended June 30, 2026, we recognized approximately $85.8 million in net revenue compared to approximately $91.6 million during the three months ended June 30, 2025. These amounts are net of agency commissions. We recognized approximately $35.3 million of revenue from our Radio Broadcasting segment during the three months ended June 30, 2026, compared to approximately $36.7 million for the three months ended June 30, 2025, a decrease of approximately $1.4 million. This decrease was primarily driven by weaker overall market demand from the national and local advertisers. We recognized approximately $4.8 million of revenue from our Reach Media segment during the three months ended June 30, 2026, compared to approximately $5.3 million for the three months ended June 30, 2025, a decrease of approximately $0.5 million. This decrease was primarily driven by a decrease in syndicated revenue. We recognized approximately $9.4 million of revenue from our Digital segment during the three months ended June 30, 2026, compared to approximately $10.3 million during the three months ended June 30, 2025, a decrease of approximately $0.9 million. The decrease was primarily driven by the decrease in direct revenue streams, reflecting reduced advertising spend from diversity, equity and inclusion-focused campaigns. We recognized approximately $37.1 million of revenue from our Cable Television segment during the three months ended June 30, 2026, compared to approximately $40.1 million during the three months ended June 30, 2025, a decrease of approximately $3.0 million. The decrease was primarily driven by the churn of subscribers and lower advertising sales. The following charts indicate the sources of our net revenues for the three and six months ended June 30, 2026: Operating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill, intangible assets and long-lived assets, were approximately $75.0 million for the three months ended June 30, 2026, compared to approximately $78.1 million for the comparable period in 2025. Operating expenses were down by approximately 4.1%, driven mainly by revenue-related variable expenses such as media monitoring, traffic acquisition costs, bad debt reserve, as well as third-party professional fees. Impairment of goodwill, intangible assets and long-lived assets was approximately $14.2 million for three months ended June 30, 2026, compared to $130.1 million for the three months ended June 30, 2025. The impairment loss of $14.2 million during the three months ended June 30, 2026 represents approximately $13.9 million goodwill impairment charge related to the Reach Media reporting unit and approximately $0.3 million impairment charge related to the long-lived asset of Reach Media. Depreciation and amortization expense was approximately $6.2 million for the three months ended June 30, 2026, compared to approximately $3.5 million for the three months ended June 30, 2025, an increase of approximately $2.7 million. This increase is primarily driven by the Radio Broadcasting licenses amortization, which the Company started to amortize effective June 1, 2025. Interest expense was approximately $2.1 million for the three months ended June 30, 2026, compared to approximately $9.7 million for the three months ended June 30, 2025, a decrease of approximately $7.6 million. This decrease was due to lower overall debt balances outstanding and lower effective interest rates. The Company recognizes interest expense using an effective interest rate of approximately 5.32% on the 2030 First Lien Notes, 0.15% on the 2031 Second Lien Notes, and 7.71% on the 2028 Notes for the three months ended June 30, 2026. The effective interest rates on the 2030 First Lien Notes and 2031 Second Lien Notes differ from the contractual interest payment primarily as a result of the accounting for these debt instruments under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors. For the three months ended June 30, 2026, we recorded a benefit from income taxes of approximately $1.7 million on the pre-tax loss of approximately $8.7 million resulting in an actual effective tax rate of 19.6%. For the three months ended June 30, 2025, we recorded a benefit from income taxes of approximately $21.4 million on pre-tax loss of approximately $99.4 million resulting in an actual effective tax rate of 21.5%, which includes $6.4 million of discrete tax expense related to the change of accounting estimate for radio broadcasting licenses that impacted our valuation allowance. Other pertinent financial information includes capital expenditures of approximately $1.7 million and $1.2 million for the three months ended June 30, 2026 and 2025, respectively. The increase in capital expenditure is driven by the build-out of a studio in the Indianapolis radio market. Supplemental Financial Information: For comparative purposes, the following more detailed statements of operations for the three and six months ended June 30, 2026 are included. Urban One, Inc. will hold a conference call to discuss its results for the second fiscal quarter of 2026. The conference call is scheduled for Tuesday, August 4, 2026 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free (+1) 800-715-9871; international callers may dial direct (+1) 646-307-1963. The Access Code is 3701023. A replay of the conference call will be available from 2:00 p.m. EDT August 4, 2026 until 11:59 p.m. EDT August 11, 2026. Callers may access the replay by calling (+1) 800-770-2030; international callers may dial direct (+1) 609-800-9909. The replay Access Code is 3701023. Access to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call. Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of July 31, 2026, following the Service Broadcasting Group, LLC acquisition, the Company owned and/or operated 76 independently formatted, revenue producing broadcast stations (including 59 FM or AM stations, 15 HD stations, and the 2 low power television stations the Company operates), located in 13 of the most populous African-American markets in the United States. Through Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences. View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-second-quarter-2026-results-302841724.html

This article first appeared on GuruFocus. Consolidated Net Revenue: Approximately $85.8 million for Q2 2026, a 6.4% decrease year-over-year. Radio Broadcasting Segment Revenue: $35.3 million, down 3.9% year-over-year; excluding political, down 6.6%. Reach Media Revenue: $4.8 million, a 10.6% decline from the prior year. Digital Segment Revenue: $9.4 million, down 8.4%. Cable Television Segment Revenue: Approximately $37.1 million, a 7.4% decrease. Consolidated Adjusted EBITDA: $11.7 million, down 16%. Consolidated Broadcast and Digital Operating Income: Approximately $22.2 million, a 13.7% decrease year-over-year. Operating Expenses: Approximately $75 million, compared to $78.1 million in the prior year period. Net Loss: Approximately $7 million, or $1.58 per share, compared to a net loss of $77.9 million ($17.41 per share) in Q2 2025. Interest Expense: Down to approximately $2.1 million from $9.7 million last year. Long-Term Debt: Reduced to $303.2 million after repurchasing $23.5 million of 2031 second lien notes at an average price of $0.42 on the dollar. Cash and Net Debt: Ending unrestricted cash of $15.4 million, with net debt of approximately $307.9 million. Leverage Ratio: Total leverage ratio of 6.66 times based on LTM adjusted EBITDA. Capital Expenditures: Approximately $1.7 million for the quarter. Store/Station Transactions: Completed sales of WMXG and WLNK licenses in Charlotte for a gain of $4.7 million; closed on the acquisition of Service Broadcasting Group in Dallas (KKDA and KRNB) for $22 million and sold KZMJ for $6 million. Warning! GuruFocus has detected 8 Warning Signs with UONE. Is UONE fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Urban One Inc (NASDAQ:UONE) reduced long-term debt by $60.2 million year-to-date through market repurchases of its 2031 second lien notes at a discount, resulting in annual interest savings of $4.6 million. The company completed the acquisition of Service Broadcasting Group in Dallas, Texas, which is expected to contribute significantly to revenue in the last five and a half months of the year. Political advertising is expected to be a tailwind in Q3 and Q4, with competitive races in key markets like Ohio, Texas, Georgia, North Carolina, and Indiana, and the company has budgeted $11.1 million for political radio revenue. Operating expenses decreased by 4% year-over-year, driven by reductions in sales and marketing, professional service fees, and other compensation-related costs. The company outperformed the market in national advertising sales, with national ad sales down 1.5% versus the market down 4.6%. TV One's prime-time delivery improved by 4% in the first four weeks of Q3 2026 compared to Q2 2026, and is only down 3% year-over-year. The company completed the sale of two Charlotte radio stations and one Dallas station, generating gains of $4.7 million and $3.2 million, respectively. Management expects to avoid future large non-cash impairments, as radio FCC licenses are now amortized and all goodwill at Reach Media has been written down. Consolidated net revenues decreased 6.4% year-over-year in Q2 2026, with radio, digital, and cable television segments all reporting declines. Local radio ad sales underperformed the market, down 10.1% versus the market's 7.8% decline, leading to a miss on Q2 guidance. Cable television advertising sales fell 9.6% due to strong competition from NBA playoffs, prime-time delivery declines, and a weak scatter market, forcing more inventory to be allocated to lower-rate direct response. TV One's linear subscriber base continues to decline, with traditional subscribers down to 27.3 million from 34.3 million a year ago, reflecting ongoing cord-cutting. Reach Media's net revenue declined 10.6% and adjusted EBITDA was a loss of $1 million, leading to a $13.9 million goodwill impairment charge. The company lowered its full-year adjusted EBITDA guidance from $60 million to the mid-$50s due to a tough first half and uncertainty around political spending. Digital segment revenue decreased 8.4%, driven by reductions in DEI-focused spending and lower client spending due to macroeconomic concerns. Interest expense, while lower, still requires significant cash payments, with the next semi-annual interest payment of approximately $12.1 million due on October 1st. The company's leverage ratio remains high at 6.66 times, and it drew an additional $10 million on its asset-backed facility during the quarter, increasing total draws to $20 million. Q: Can you quantify the expected political advertising tailwind for the upcoming midterms, and how might the Dallas acquisition impact political demand? A: Alfred Liggins, CEO, stated that it is difficult to predict exact political spending, but noted the company has budgeted approximately $11.1 million for political radio revenue, slightly below the ~$13 million generated in 2022. He highlighted competitive races in Georgia, Indiana, Ohio, and Texas as potential drivers. The Dallas acquisition is expected to be a significant benefit due to the company's strong position with African American audiences in a competitive market, though the exact impact remains uncertain. Q: What factors contributed to the second-quarter radio advertising performance coming in softer than originally guided, and what is driving the improvement in the Q3 outlook? A: Peter Thompson, CFO, explained that local advertising came in lighter than expected and underperformed the market, with weakness spread across categories. For Q3, Alfred Liggins noted that the improved guidance is driven by the onset of political spending, improvements in the Washington D.C. market from format changes, and better performance in Atlanta. He also mentioned that Houston lost momentum due to advertisers shifting budgets to the World Cup. Q: What are the primary factors weighing on the cable television advertising segment, and what is the outlook? A: Alfred Liggins attributed the decline to an inventory problem, with more connected TV (CTV) impressions from platforms like Netflix and Amazon, a weaker scatter market, and pricing pressure that pushes rates toward direct response. He noted these are similar macro trends affecting the broader linear cable business. However, early Q3 data shows TV One's prime-time delivery is up 4% versus Q2 and only down 3% year-over-year. Q: Given the reduced EBITDA guidance to the mid-$50s, what is the updated expectation for free cash flow in 2026? A: Peter Thompson indicated that free cash flow would likely be lower than the previously discussed $40 million estimate, now closer to $35 million, due to the composition of revenue and non-cash items like the amortization of debt discounts (ADU) burning through the balance sheet. Q: Can you provide an update on the potential sale of AM towers that was discussed on the last call? A: Alfred Liggins stated there is nothing to report at this time, but the process is ongoing. He expressed confidence in a positive outcome and expects a deal to be completed within the year. Q: What was the impact of the $14.1 million non-cash impairment charge on the bottom line, and will these charges continue? A: Peter Thompson confirmed the impairment was entirely related to Reach Media's goodwill. He explained that the charge is added back in the adjusted EBITDA calculation. Looking forward, he is hopeful that large impairments are largely behind the company, as the radio FCC licenses are now being amortized and all of Reach Media's goodwill has been written down. Q: What is the company's strategic plan for growth beyond the political cycle, and will it consider expanding outside its core multicultural focus? A: Alfred Liggins stated the company is open to expanding outside its core African-American demographic, particularly in radio markets where it already operates to build scale. He emphasized a disciplined approach to consolidation, noting that the industry is littered with companies that went bankrupt from consolidation for its own sake. He sees radio as the most likely area for expansion, while there are no plans to expand the television footprint beyond its urban focus. Q: How did the company's local and national radio advertising sales perform relative to the overall market in Q2? A: Peter Thompson reported that local ad sales were down 10.1% against a market decline of 7.8%, underperforming the market. National advertising sales were down 1.5% against a market decline of 4.6%, outperforming the market. The largest ad category, services, was down 0.7%, while government/public and telecommunications categories saw increases of 14.5% and 16.9%, respectively. Q: Can you provide details on the debt repurchases and the resulting interest savings? A: Peter Thompson detailed that the company spent approximately $23.5 million to repurchase its 2031 second lien notes at an average price of 42% of par. This resulted in a $60.2 million reduction in long-term debt and annualized interest savings of $4.6 million. The total outstanding long-term debt balance was reduced to $303.2 million. Q: What is the status of the Dallas acquisition and the sale of KZMJ, and how will they impact the company? A: Peter Thompson confirmed the sale of KZMJ was completed on July 6, 2026, recognizing a gain of $3.2 million in Q3. The acquisition of Service Broadcasting Group in Dallas, including stations KKDA and KRNB, was completed on July 17, 2026. Alfred Liggins noted the acquisition is off to a good start and will contribute significantly to the last five and a half months of the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SILVER SPRING, Md., July 17, 2026 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK; UONE) will be holding a conference call for investors, analysts and other interested parties to discuss its results for the second fiscal quarter of 2026. The conference call is scheduled for Tuesday, August 4, 2026, at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free +1-800-715-9871; international callers may dial direct +1-646-307-1963. The access code is 3701023. A replay of the conference call will be available from 2:00 p.m. EDT August 4, 2026, until 11:59 p.m. EDT August 11, 2026. Callers may access the replay by calling +1-800-770-2030; international callers may dial direct +1-609-800-9909. The replay access code is 3701023. Access to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call. Cautionary Note Regarding Forward-Looking Statements The Company cautions you certain of the statements in this press release may represent "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as "expect," "believe," "anticipate," "intend," "plan," "project," "will" or "estimate," or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements based on factors, including but not limited to the following: economic, public health, and/or political conditions that impact consumer confidence and spending; the cost and availability of capital or credit facility borrowings; the ability to obtain equity financing; general market conditions; the adequacy of cash flows or available debt resources to fund operations; and other risk factors described from time to time in the Company's Forms 10-K, Forms 10-Q, and Form 8-K reports (including all amendments to those reports). About Urban One: Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of June 30, 2026, we owned and/or operated 73 independently formatted, revenue producing broadcast stations (including 56 FM or AM stations, 15 HD stations, and the 2 low power television stations we operate) located in 13 of the most populous African-American markets in the United States. Through Reach Media, Inc. (blackamericaweb.com), the Company operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences. View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-second-quarter-2026-results-conference-call-302828593.html

This article first appeared on GuruFocus. Release Date: May 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Urban One Inc (NASDAQ:UONE) successfully reduced its debt by approximately $60 million, bringing the total gross debt to just over $300 million. The company announced accretive M&A activity with the acquisition of Service Broadcasting in Dallas, Texas, which is expected to enhance revenue scale and EBITDA. Urban One Inc (NASDAQ:UONE) projects generating about $40 million in free cash flow for the year, indicating strong cash management. Local digital revenue increased by 10.9% for the quarter, showing growth in the digital segment despite overall challenges. The company achieved significant interest savings through debt repurchases, reducing the annual interest burden by $4.6 million. Consolidated revenue for the quarter was down 15.8% year-over-year, indicating a challenging market environment. The radio broadcasting segment experienced a net revenue decrease of 6.4% year-over-year, with national ad sales down 8.2%. The digital segment saw a significant revenue decline of 33.5% in the first quarter, driven by reduced DEI-focused spending and macroeconomic concerns. Cable television segment revenue decreased by 18.5%, with advertising revenue down 24.9%, reflecting challenges in the linear cable market. Consolidated adjusted EBITDA dropped by 63.8%, highlighting the financial pressures faced by Urban One Inc (NASDAQ:UONE) during the quarter. Warning! GuruFocus has detected 8 Warning Signs with UONE. Is UONE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide clarity on the thought process behind the recent acquisitions? Are they based on more attractive formats or better geographies? A: The acquisitions are not about different formats but rather expanding our reach within the African-American community in Dallas, Texas. The goal is to create a larger cluster with more revenue scale, leading to increased EBITDA. This acquisition has been a long-term goal, and the recent transactions in Dallas and Charlotte are significant steps in our strategy to deliver and grow profitability. - Alfred C. Liggins, CEO Q: Can you elaborate on the monetization process for the land associated with the AM towers? A: The land is currently listed with JLL, and we are in the process of evaluating offers with the intention to sell. This is part of our strategy to monetize non-core assets and improve our financial position. - Alfred C. Liggins, CEO Q: Did you mention that digital revenue is expected to be up in Q2 despite a weak Q1? A: Yes, digital revenue is expected to increase in Q2 as several campaigns have been pushed into the second quarter and the latter half of the year. The digital division remains optimistic about meeting its annual targets despite the challenges faced in Q1. - Peter Thompson, CFO Q: How do you view the margins in the digital segment compared to other divisions? A: While digital revenue is growing, the margins are actually lower compared to traditional radio due to the high costs of traffic acquisition and custom content creation. However, we are focusing on expanding our local digital sales, as low margin is better than no margin. - Alfred C. Liggins, CEO Q: With the recent debt reduction and refinancing, what is the outlook for your interest expenses? A: The pro forma cash interest expense moving forward is significantly reduced, which will help us generate more free cash flow. Our focus remains on managing the balance sheet, reducing debt, and finding opportunities to create more cash flow. - Peter Thompson, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SILVER SPRING, Md., May 14, 2026 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE, referred to as, "Urban One," the "Company", "we", "our" and/or "us") today reported its results for the three months ended March 31, 2026. For the three months ended March 31, 2026, net revenue was approximately $77.7 million, a decrease of 15.8% from the same period in 2025. The Company reported operating loss of approximately $2.2 million for the three months ended March 31, 2026, compared to operating income of approximately $2.1 million for the three months ended March 31, 2025. Broadcast and digital operating income(1) was approximately $14.9 million for the three months ended March 31, 2026, a decrease of 35.4% from the same period in 2025. Net loss was approximately $3.1 million or $(0.69) per share (basic) for the three months ended March 31, 2026, compared to net loss of $11.7 million or $(2.64)(a) per share (basic) for the same period in 2025. Adjusted EBITDA(2) was approximately $4.7 million for the three months ended March 31, 2026, compared to approximately $12.9 million for the same period in 2025. Alfred C. Liggins, III, Urban One's CEO and President stated, "First quarter revenue was soft across all divisions, with TV down 18.5%, Digital down 33.5%, Radio down 6.4% and Reach Media dropped by 17.0%. We had budgeted for a down-quarter in our Radio and TV divisions, but not at Reach Media and Digital. The integration of Nielsen DASH data gave a boost to linear cable TV inventory, but combined with a weak scatter market, led to more commercial units being allocated to Direct Response advertising, at a lower average unit rate. Post DASH, prime C3 ratings 25-54 were up 49.0% from the fourth quarter and Total Day was up 35.0% from the fourth quarter. In Radio, our Miller Kaplan local Radio revenues were down 5.5% year-over-year vs the market 7.1% and national was down 8.2%, vs the market down 6.7%. Including local digital, first quarter Radio revenue was down 2.8%. We did approximately $1.0 million in gross political advertising in the first quarter and have another $1.0 million on the books for the second quarter. Radio second quarter is pacing down 2.6%. We are in a turnaround situation at Reach Media, where we continue to be impacted by a weak marketplace, key client attrition and sales team re-building. Digital also had a soft first quarter, driven by weak advertiser demand but second quarter is forecasted to be up, and there is optimism for the back half of the year based on the current sales pipeline. Our first quarter cashflow from operations was stronger than expected as we made a concerted effort to collect receivables, and we were helped by the fact that we prepaid a portion of the typical semi-annual cash interest payments in the fourth quarter as part of the debt refinancing transaction. We repurchased $4.3 million of 2028 Notes at 51.0% of par. We also repurchased $32.45 million of 2031 Second Lien Notes at 40.7% of par in the first quarter and an additional $23.46 million of 2031 Second Lien Notes in the second quarter at 42.0% of par. Year-to-date, that is a total reduction in long-term debt of $60.2 million for an annual interest savings of $4.6 million and an increase in short-term debt of $10.0 million, which is expected to be fully repaid by year-end. During the quarter and in April, we announced the acquisition of Dallas radio stations KKDA, KRNB and the disposition of KZMJ, and also the disposition of WLNK and WMXG in Charlotte. The combined net cash outflow upon closing is approximately $11.1 million, and the incremental pro-forma Adjusted EBITDA(2) is approximately $5.0 million on an annual basis. Our revised Adjusted EBITDA(2) guide for 2026 is approximately $60.0 million, of which $2.0 million relates to these transactions." Detailed segment data for the three months ended March 31, 2026 and 2025 is presented in the following tables:         During the three months ended March 31, 2026, the Company repurchased approximately $32.4 million of its 2031 Second Lien Notes at a weighted average price of approximately 40.7% of par. As the 2031 Second Lien Notes are accounted under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors, no gain was recorded. Instead, the Company recorded an additional premium of $19.3 million, which is included in long-term debt, net on the Company's consolidated balance sheets. During the three months ended March 31, 2026, the Company repurchased approximately $4.3 million of its 2028 Notes at a weighted average price of approximately 51.0% of par, resulting in a net gain on retirement of debt of approximately $2.1 million, included in the unaudited consolidated statement of operations. On December 18, 2025, the Company drew $10.0 million on the on the Current ABL Facility, which was repaid in the first quarter of 2026. In March 2026, the Company drew another $10.0 million on the Current ABL Facility with a six-month maturity at an interest rate of approximately 6.09%, which remains outstanding as of March 31, 2026. After giving effect to the $10.0 million drawdown and adjustments to account for the Borrowing Base, the Company's borrowing capacity was approximately $31.8 million as of March 31, 2026. The Company further made two separate draws of $5.0 million each for a total of $10.0 million in the second quarter of 2026, payable at an interest rate of approximately 6.75% and 6.01%, respectively. After giving effect to the outstanding $10.0 million drawdown, the additional $10.0 million drawdown in the second quarter of 2026 and adjustments to account for the Borrowing Base, the Company's borrowing capacity was approximately $22.0 million. Dispositions and Acquisitions In March 2026, the Company entered into an agreement to sell its WMXG and WLNK-FM radio broadcasting licenses in Charlotte, North Carolina along with the associated station assets from the Radio Broadcasting segment to unrelated third parties for approximately $0.7 million and $4.2 million respectively, pending approval by the Federal Communication Commission ("FCC"). We anticipate to complete the sale by the end of the second quarter of 2026. All stations will continue operating in their current format until the transaction receives FCC approval and closes. In April 2026, the Company entered into an agreement to acquire Service Broadcasting Group, LLC, including radio stations KKDA and KRNB in Dallas, Texas for $22.0 million. At the same time, the Company also entered into an agreement to sell radio station KZMJ to Fuzion Dallas, LLC for $6.0 million. The transactions include the transfer of each station's FCC license and related assets and are subject to approval by the FCC and other customary closing conditions. All stations will continue operating in their current format until the transaction receives FCC approval and closes. Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One's control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One's reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the "SEC"). Urban One does not undertake any duty to update any forward-looking statements. For the three months ended March 31, 2026, we recognized approximately $77.7 million in net revenue compared to approximately $92.2 million during the three months ended March 31, 2025. These amounts are net of agency commissions. We recognized approximately $30.5 million of revenue from our Radio Broadcasting segment during the three months ended March 31, 2026, compared to approximately $32.6 million for the three months ended March 31, 2025, a decrease of approximately $2.1 million. This decrease was primarily driven by weaker overall market demand from the national and local advertisers. We recognized approximately $4.9 million of revenue from our Reach Media segment during the three months ended March 31, 2026, compared to approximately $5.9 million for the three months ended March 31, 2025, a decrease of approximately $1.0 million. This decrease was primarily driven by a decrease in national sales. We recognized approximately $6.8 million of revenue from our Digital segment during the three months ended March 31, 2026, compared to approximately $10.2 million during the three months ended March 31, 2025, a decrease of approximately $3.4 million. The decrease was primarily driven by the decrease in direct revenue streams revenue, reflecting reduced advertising spend from diversity, equity and inclusion-focused campaigns. We recognized approximately $36.0 million of revenue from our Cable Television segment during the three months ended March 31, 2026, compared to approximately $44.2 million during the three months ended March 31, 2025, a decrease of approximately $8.2 million. The decrease was primarily driven by the churn of subscribers and lower advertising sales. The following charts indicate the sources of our net revenues for the three months and year ended March 31, 2026: Operating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill and intangible assets, were approximately $73.5 million for the three months ended March 31, 2026, compared to approximately $80.7 million for the comparable period in 2025. Operating expenses were down by approximately 8.9%, driven mainly by revenue-related variable expenses such as programming, media monitoring, traffic acquisition costs, commissions, sales rep fees, as well as headcount related costs and third-party professional fees. Depreciation and amortization expense was approximately $6.2 million for the three months ended March 31, 2026, compared to approximately $2.3 million for the three months ended March 31, 2025, an increase of approximately $3.9 million. This increase is primarily driven by the Radio Broadcasting licenses amortization, which the Company started to amortize in the second quarter of 2025. Interest expense was approximately $4.4 million for the three months ended March 31, 2026, compared to approximately $10.9 million for the three months ended March 31, 2025, a decrease of approximately $6.5 million. This decrease was due to lower overall debt balances outstanding and lower effective interest rates. The Company recognizes interest expense using an effective interest rate of approximately 5.30% on the 2030 First Lien Notes, 1.63% on the 2031 Second Lien Notes and 7.71% on the 2028 Notes for the three months ended March 31, 2026. The effective interest rates on the 2030 First Lien Notes and 2031 Second Lien Notes differ from the contractual interest payment primarily as a result of the accounting for these debt instruments under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors. There was an approximately $2.1 million gain on retirement of debt for the three months ended March 31, 2026, compared to approximately $11.6 million for the three months ended March 31, 2025. During the three months ended March 31, 2026, the Company repurchased approximately $4.3 million of its 2028 Notes at an average price of approximately 51.0% of par, resulting in a net gain on retirement of debt of approximately $2.1 million. During the three months March 31, 2025, the Company repurchased approximately $28.2 million of its 2028 Notes at an average price of approximately 58.0% of par, resulting in a net gain on retirement of debt of approximately $11.6 million. For the three months ended March 31, 2026, we recorded a benefit from income taxes of approximately $1.4 million on the pre-tax loss of approximately $4.5 million resulting with an annual effective tax rate of 31.7%. For the three months ended March 31, 2025, we recorded a provision for income taxes of approximately $15.7 million on pre-tax income of approximately $3.9 million resulting with an annual effective tax rate of 399.5%, which includes $14.6 million of discrete tax expense related to valuation allowance for net operating losses, and $0.2 million of discrete tax expense related to stock-based compensation. Other pertinent financial information includes capital expenditures of approximately $3.4 million and $2.5 million for the three months ended March 31, 2026 and 2025, respectively. The increase in capital expenditure is driven by the build-out of a studio in the Indianapolis radio market. Supplemental Financial Information: For comparative purposes, the following more detailed statements of operations for the three months March 31, 2026 are included.     Urban One, Inc. will hold a conference call to discuss its results for the first fiscal quarter of 2026. The conference call is scheduled for Thursday May 14, 2026 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free (+1) 888-596-4144; international callers may dial direct (+1) 646-968-2525. The Access Code is 3438559. A replay of the conference call will be available from 2:00 p.m. EDT May 14, 2026 until 11:59 p.m. EDT May 21, 2026. Callers may access the replay by calling (+1) 800-770-2030; international callers may dial direct (+1) 609-800-9909. The replay Access Code is 3438559. Access to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call. Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of March 31, 2026, the Company owned and/or operated 75 independently formatted, revenue producing broadcast stations (including 58 FM or AM stations, 15 HD stations, and the 2 low power television stations the Company operates), located in 13 of the most populous African-American markets in the United States. Through Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences.     View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-first-quarter-2026-results-302771674.html

SILVER SPRING, Md., April 23, 2026 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK; UONE) will be holding a conference call for investors, analysts and other interested parties to discuss its results for the first fiscal quarter of 2026. The conference call is scheduled for Thursday, May 14, 2026, at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free +1-888-596-4144; international callers may dial direct +1-646-968-2525. The Access Code is 3438559. A replay of the conference call will be available from 2:00 p.m. EDT May 14, 2026, until 11:59 p.m. EDT May 21, 2026. Callers may access the replay by calling +1-800-770-2030; international callers may dial direct +1-609-800-9909. The replay Access Code is 3438559. Access to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call. Cautionary Note Regarding Forward-Looking Statements The Company cautions you certain of the statements in this press release may represent "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as "expect," "believe," "anticipate," "intend," "plan," "project," "will" or "estimate," or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements based on factors, including but not limited to the following: economic, public health, and/or political conditions that impact consumer confidence and spending; the cost and availability of capital or credit facility borrowings; the ability to obtain equity financing; general market conditions; the adequacy of cash flows or available debt resources to fund operations; and other risk factors described from time to time in the Company's Forms 10-K, Forms 10-Q, and Form 8-K reports (including all amendments to those reports). About Urban One: Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of March 31, 2026, we owned and/or operated 76 independently formatted, revenue producing broadcast stations (including 58 FM or AM stations, 16 HD stations, and the 2 low power television stations we operate) located in 13 of the most populous African-American markets in the United States. Through Reach Media, Inc. (blackamericaweb.com), the Company operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences. View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-first-quarter-2026-results-conference-call-302752255.html

This article first appeared on GuruFocus. Consolidated Net Revenue: $97.8 million, down 16.5% year over year. Radio Broadcasting Segment Revenue: $35.1 million, a decrease of 26.5% year over year. Reach Media Segment Revenue: $13.8 million, up 43.9% from the prior year. Digital Segment Revenue: $14.7 million, down 19.6%. Cable Television Segment Revenue: $34.9 million, a decrease of 16.8%. Operating Expenses: Approximately $90.2 million, compared to $91.1 million in 2024. Consolidated Adjusted EBITDA: $15.6 million, down 41.8%. Net Loss: $54.4 million or $12.24 per share, compared to a net loss of $35.7 million or $7.81 per share in Q4 2024. Capital Expenditures: $3.2 million for the quarter, $10.1 million for the year. Outstanding Debt Balance: Approximately $373.4 million as of December 31, 2025. Ending Unrestricted Cash: $25.5 million. Net Debt: Approximately $347.9 million. Net Leverage Ratio: 6.14 times. Warning! GuruFocus has detected 6 Warning Signs with UONE. Is UONE fairly valued? Test your thesis with our free DCF calculator. Release Date: March 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Urban One Inc (NASDAQ:UONE) finished the year within its guidance with $56.7 million of EBITDA. The company successfully executed a significant capital markets transaction, repurchasing a substantial amount of its 2028 notes at a discount, extending maturities to 2031. Reach Media segment saw a 43.9% increase in net revenue, driven by event revenue from the Fantastic Voyage Cruise. Operating expenses, excluding certain costs, were down by approximately 17%, indicating effective cost management. Urban One Inc (NASDAQ:UONE) regained compliance with NASDAQ listing requirements through a 1-for-10 reverse stock split. Consolidated net revenue for the fourth quarter was down 16.5% year over year. Radio Broadcasting segment revenue decreased by 26.5% year over year. Digital segment revenues declined by 19.6% due to decreased DEI money and lower client spending. Cable television segment revenue decreased by 16.8%, with a significant drop in television advertising revenue. The company reported a net loss of $54.4 million for the fourth quarter, an increase from the previous year's loss. Q: Can you provide an overview of Urban One's financial performance for the fourth quarter of 2025? A: Peter Thompson, CFO, reported that consolidated net revenue for Q4 2025 was approximately $97.8 million, down 16.5% year over year. The Radio Broadcasting segment saw a 26.5% decrease in net revenue, while the Reach Media segment experienced a 43.9% increase. The digital segment's net revenues were down 19.6%, and the cable television segment saw a 16.8% decline. Consolidated adjusted EBITDA was $15.6 million, down 41.8%. Q: How did Urban One's capital structure change during the fourth quarter? A: Alfred Liggins, CEO, explained that Urban One completed a significant capital markets transaction by repurchasing a substantial amount of its 2028 notes at a discount. The company extended its maturities to 2031 and upsized its ABL credit facility, putting it in a more stable position to focus on deleveraging and pursuing opportunities in the radio business. Q: What were the main drivers behind the changes in operating expenses? A: Peter Thompson, CFO, noted that operating expenses, excluding certain items, were down by approximately 17%. This was mainly due to reductions in revenue-related variable expenses, such as commissions and headcount-related costs. Specific segments like radio and digital saw decreases in operating expenses, while Reach Media's expenses increased due to the timing of the Fantastic Voyage event. Q: Can you elaborate on the impact of the debt restructuring on Urban One's financials? A: Peter Thompson, CFO, stated that the debt restructuring involved tendering $185 million of the 2028 notes and issuing new notes due in 2030 and 2031. This restructuring was accounted for under troubled debt restructuring rules, which means the gain is capitalized on the balance sheet, reducing future P&L interest expenses. Q: What are the expectations for Urban One's performance in 2026? A: Alfred Liggins, CEO, mentioned that the company is holding off on updating its 2026 guidance until the end of the first quarter. While Q1 started slower than expected, improvements in cable television ratings and operational changes provide optimism. The company remains focused on deleveraging and exploring opportunities in the radio business. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SILVER SPRING, Md., March 12, 2026 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE, referred to as, "Urban One," the "Company", "we", "our" and/or "us") today reported its results for the three months ended December 31, 2025. For the three months ended December 31, 2025, net revenue was approximately $97.8 million, a decrease of 16.5% from the same period in 2024. The Company reported operating loss of approximately $54.0 million for the three months ended December 31, 2025, compared to operating loss of approximately $1.9 million for the three months ended December 31, 2024. Broadcast and digital operating income1 was approximately $23.8 million for the three months ended December 31, 2025, a decrease of 38.3% from the same period in 2024. Net loss was approximately $54.4 million or $(12.24) per share (basic) for the three months ended December 31, 2025, compared to net loss of $35.7 million or $(7.81) per share (basic) for the same period in 2024. Adjusted EBITDA2 was approximately $15.6 million for the three months ended December 31, 2025, compared to approximately $26.9 million for the same period in 2024. On December 18, 2025, the Company closed a private placement debt exchange with holders of the 7.375% Senior Secured Notes (the "2028 Notes") representing more than 97% of the aggregate principal amount outstanding. Pursuant to the private placement, the Company (i) tendered for $185.0 million aggregate principal amount of 2028 Notes which the Company purchased for cancellation for $111.0 million and $1.1 million consent fee in cash, (ii) issued $60.6 million aggregate principal amount of 10.500% first lien senior secured notes due 2030 (the "2030 First Lien Notes"), and (iii) issued $291.0 million aggregate principal amount of 7.625% Second Lien Secured Notes due 2031 (the "2031 Second Lien Notes"). Following the transactions (collectively "2025 Refinancing"), $11.8 million of the 2028 Notes remained outstanding. On December 18, 2025, the Company also entered into an Amended and Restated Credit Agreement, among the Company, as the administrative borrower, together with the other borrowers party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent (the "Amended and Restated ABL Credit Agreement"). The Amended and Restated ABL Credit Agreement amended and restated the Company's ABL Credit Agreement, dated as of February 19, 2021 and was also entered into facilitate the Exchange Offer and Consent Solicitation. The Amended and Restated ABL Credit Agreement provides for, among other things, commitments in the aggregate principal amount of up to $75.0 million, with incremental capacity to incur an additional principal amount of up to $25.0 million thereunder, with the proceeds thereof to be used primarily for working capital and general corporate purposes, including capital expenditures, permitted acquisitions, permitted investments and permitted dividends, in each case, in accordance with the terms of the Amended and Restated ABL Credit Agreement. Alfred C. Liggins, III, Urban One's CEO and President stated, "As expected, we had a tough fourth quarter due to a combination of non-recurring political advertising, soft radio markets and declining audience delivery in our cable television ("cable TV") business. Despite this, we were able to achieve full year Adjusted EBITDA within our previous guidance range at $56.7 million. The biggest revenue drag in the fourth quarter resulted from weak cable TV prime delivery, down approximately 20.0% from the third quarter, although we have seen a significant recovery in the first quarter 2026 as the revised Nielsen methodology has given us an approximate 40.0% - 50.0% lift compared to the fourth quarter 2025. Radio pacings in the first quarter of 2026 are currently (5.0)%, but we remain positive on the outlook for mid-term political revenues later in the year. I was pleased that we were able to repurchase a significant amount of our 2028 Notes at a discount, extend out the maturity on all but a small stub of the notes, and increase the size and term of our ABL Credit Agreement. This transaction sets up the company with a stable capital structure and extended maturity runway to allow us to continue to de-lever the business. In January 2026 we also regained compliance with the Nasdaq listing requirements by effectuating a 1-for-10 reverse stock split." Effective January 1, 2025, the Company modified the composition of two of our reportable segments to reflect changes in how they operate their business. The Company transferred the CTV offering within our Digital segment to our Cable Television segment. This change aligns the CTV offering with the results of operations within our Cable Television segment. Prior period Cable Television and Digital segment information has been reclassified to conform to the current period presentation. In addition, prior period segment information has been recast between the Sales and marketing and the General and administrative to conform the presentation of significant segment expenses used to evaluate performance by the Chief Operating Decision Maker ("CODM"). Detailed segment data for the three and twelve months ended December 31, 2025 and 2024 is presented in the following tables: 2025 Refinancing The Company performed an assessment of the 2025 Refinancing and determined it met the criteria of a troubled debt restructuring under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors ("ASU 470-60"). For each series of the 2028 Notes exchanged, the undiscounted future cash flows associated with the 2030 First Lien Notes and 2031 Second Lien Notes were compared to the carrying value of the 2028 Notes, including deferred issuance costs. As the undiscounted cash flows associated with the 2030 First Lien Notes and 2031 Second Lien Notes exceeded the carrying value of the applicable 2028 Notes exchanged, no gain was recorded. In accordance with ASU 470-60, the carrying value of the 2030 First Lien Notes and 2031 Second Lien Notes was established at the carrying value of the applicable 2028 Notes. The difference between the principal amount of the 2031 Second Lien Notes and 2030 First Lien Notes and the carrying value of the applicable 2028 Notes was recorded as a premium and is included in long-term debt, net on the Company's consolidated balance sheets. The Company recorded a premium of approximately $69.2 million on the 2031 Second Lien Notes and 2030 First Lien Notes as the difference between the principal balance of the 2031 Second Lien Notes and 2030 First Lien Notes and the carrying value of the 2028 Notes exchanged. The premium will result in interest expense being recognized at an effective interest rate of approximately 2.68% and 3.91% through the term of the 2030 First Lien Notes and 2031 Second Lien Notes. The difference in the contractual interest payments and interest expense will reduce the premium. Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One's control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One's reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the "SEC"). Urban One does not undertake any duty to update any forward-looking statements. For the three months ended December 31, 2025, we recognized approximately $97.8 million in net revenue compared to approximately $117.1 million during the three months ended December 31, 2024. These amounts are net of agency commissions. We recognized approximately $35.1 million of revenue from our Radio Broadcasting segment during the three months ended December 31, 2025, compared to approximately $47.7 million for the three months ended December 31, 2024, a decrease of approximately $12.6 million, primarily driven by non-returning political revenues of $8.8 million and weaker overall market demand from the national and local advertisers. We recognized approximately $13.8 million of revenue from our Reach Media segment during the three months ended December 31, 2025, compared to approximately $9.6 million for the three months ended December 31, 2024, an increase of approximately $4.2 million. The increase was primarily driven by an increase in event revenue due to the timing of the Fantastic Voyage Cruise in the fourth quarter of 2025 vs. the second quarter of 2024. We recognized approximately $14.7 million of revenue from our Digital segment during the three months ended December 31, 2025, compared to approximately $18.3 million during the three months ended December 31, 2024, a decrease of approximately $3.6 million. The decrease was primarily driven by the decrease in direct revenue streams and political revenue. We recognized approximately $34.9 million of revenue from our Cable Television segment during the three months ended December 31, 2025, compared to approximately $42.0 million during the three months ended December 31, 2024, a decrease of approximately $7.1 million. The decrease was primarily driven by the churn of subscribers and lower advertising sales. The following charts indicate the sources of our net revenues for the three months and year ended December 31, 2025: Operating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill and intangible assets, were approximately $90.2 million for the three months ended December 31, 2025, compared to approximately $91.1 million for the comparable period in 2024. Operating expenses in the three months ended December 31, 2025 include $7.7 million of debt refinancing costs as well as $6.7 million of expenses related to the Fantastic Voyage cruise, which took place in the fourth quarter of 2025 vs. the second quarter of 2024. Excluding these expense items, operating expenses were down by approximately 16.8%, driven mainly by revenue-related variable expenses such as commissions, sales rep fees, traffic acquisition costs as well as headcount related costs and third-party professional fees. Impairment of goodwill and intangible assets was approximately $55.3 million during the three months ended December 31, 2025, compared to $24.2 million for the three months ended December 31, 2024. The impairment loss of $55.3 million during the three months ended December 31, 2025 consists of impairment losses of $0.5 million within the Reach Media reporting unit, $53.1 million within the Cable Television reporting unit and $1.7 million within the Digital reporting unit. Depreciation and amortization expense was approximately $6.1 million for the three months ended December 31, 2025, compared to approximately $1.6 million for the three months ended December 31, 2024, an increase of approximately $4.5 million which is primarily driven by the additional TV One Trade Name and radio broadcasting license amortization of approximately $4.4 million. Interest and investment income was approximately $0.4 million for the three months ended December 31, 2025, compared to approximately $1.1 million for the three months ended December 31, 2024. The decrease was driven by lower cash and cash equivalents balances in interest bearing accounts during the three months ended December 31, 2025, than in the corresponding period in 2024. Interest expense was approximately $8.7 million for the three months ended December 31, 2025, compared to approximately $11.5 million for the three months ended December 31, 2024, a decrease of approximately $2.8 million. The decrease was driven by lower outstanding balance of the 2028 Notes due to repurchases of approximately $96.7 million of its 2028 Notes at an average price of approximately 53.6% of par, during the first nine months in 2025. For the three months ended December 31, 2025, we recorded a benefit from income taxes of approximately $9.2 million on the pre-tax loss of approximately $63.5 million resulting with an annual effective tax rate of 14.4%. The difference between the effective rate and the Company's statutory rate relates primarily to the effect of state taxes, changes in our valuation allowance, and permanent differences associated with non-deductible expenses. For the three months ended December 31, 2024, we recorded a benefit from income taxes of approximately $27.6 million on pre-tax loss of approximately $7.8 million resulting with an annual effective tax rate of 352.0%. Other pertinent financial information includes capital expenditures of approximately $3.2 million and $1.3 million for the three months ended December 31, 2025 and 2024, respectively. The increase in capital expenditure is driven by the build-out of a studio in the Indianapolis radio market. During the three months ended December 31, 2025, the Company did not repurchase any shares of Class A Common Stock. During the three months ended December 31, 2025, the Company repurchased 13,773 shares of Class D Common Stock in the amount of approximately $0.1 million at an average price of $8.20 per share. During the three months ended December 31, 2024, the Company repurchased 138,654 shares of Class A Common Stock in the amount of approximately $2.1 million at an average price of $15.02 per share, of which 90,889 shares of Class A were held in treasury stock as of December 31, 2024. During the three months ended December 31, 2024, the Company repurchased 70,329 shares of Class D Common Stock in the amount of approximately $0.7 million at an average price of $10.22 per share. All share information and average share prices have been retroactively adjusted to reflect the 1-for-10 Reverse Stock Split that occurred on January 22, 2026. Supplemental Financial Information: For comparative purposes, the following more detailed statements of operations for the three months December 31, 2025 are included. Urban One, Inc. will hold a conference call to discuss its results for the fourth fiscal quarter of 2025. The conference call is scheduled for Thursday March 12, 2026 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free (+1) 888-596-4144; international callers may dial direct (+1) 646-968-2525. The Access Code is 9077729. A replay of the conference call will be available from 2:00 p.m. EDT March 12, 2026 until 11:59 p.m. EDT March 19, 2026. Callers may access the replay by calling (+1) 800-770-2030; international callers may dial direct (+1) 609-800-9909. The replay Access Code is 9077729. Access to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call. Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of December 31, 2025, we owned and/or operated 76 independently formatted, revenue producing broadcast stations (including 58 FM or AM stations, 16 HD stations, and the 2 low power television stations we operate), located in 13 of the most populous African-American markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences. View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-fourth-quarter-2025-results-302712225.html