UONEK Urban One, Inc.

NASDAQ
$5.08

URBAN ONE, INC. REPORTS SECOND QUARTER 2026 RESULTS

Tuesday, August 4, 2026 · 7:00 AM ET PR Newswire

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."


Three Months Ended June 30, 


Six Months Ended June 30, 


2026


2025


2026


2025


(Unaudited)


(Unaudited)

CONSOLIDATED STATEMENTS OF
OPERATIONS

(In thousands, except share data)


(In thousands, except share data)

NET REVENUE

$        85,757


$      91,631


$       163,408


$        183,866

OPERATING EXPENSES








Programming and technical, excluding stock-based
compensation

29,774


28,647


59,779


59,245

Selling, general and administrative, excluding stock-
based compensation

45,201


49,493


88,684


99,598

Stock-based compensation

1,680


574


1,881


1,250

Depreciation and amortization

6,184


3,523


12,361


5,838

Impairment of goodwill, intangible assets and long-
lived assets

14,157


130,078


14,157


136,521

Total operating expenses

96,996


212,315


176,862


302,452

Operating loss

(11,239)


(120,684)


(13,454)


(118,586)

INTEREST AND INVESTMENT INCOME

—


616


8


1,582

INTEREST EXPENSE

(2,070)


(9,704)


(6,477)


(20,628)

GAIN ON SALE OF BUSINESS

4,671


—


4,671


—

GAIN ON RETIREMENT OF DEBT

—


30,297


2,080


41,884

OTHER (EXPENSE) INCOME, NET

(43)


124


(51)


316

Loss before benefit from income taxes

(8,681)


(99,351)


(13,223)


(95,432)

BENEFIT FROM INCOME TAXES

1,703


21,382


3,144


5,724

NET LOSS

(6,978)


(77,969)


(10,079)


(89,708)

NET INCOME (LOSS) ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

95


(67)


73


(64)

NET LOSS ATTRIBUTABLE TO COMMON
STOCKHOLDERS

$       (7,073)


$    (77,902)


$       (10,152)


$       (89,644)









Weighted-average shares outstanding - basic(3, a)

4,470,542


4,473,831


4,460,275


4,476,828

Weighted-average shares outstanding - diluted(4, a)

4,470,542


4,473,831


4,460,275


4,476,828

(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:


Three Months Ended
June 30, 2026


(In thousands, unaudited)


Consolidated


Radio
Broadcasting


Reach Media


Digital


Cable
Television


Corporate/
Eliminations/
Other

NET REVENUE

$      85,757


$      35,276


$       4,754


$       9,397


$      37,121


$        (791)

Less/(add):












Programming and technical

29,774


10,910


3,203


3,127


12,704


(170)

Sales and marketing

24,982


11,641


1,905


5,858


5,913


(335)

General and administrative

20,219


6,724


673


514


4,299


8,009

Add back:












Severance-related costs

85


51


—


10


—


24

Other costs

856


236


—


—


—


620

Adjusted EBITDA(2)

$     11,723


$       6,288


$      (1,027)


$         (92)


$     14,205


$      (7,651)

 


Three Months Ended
June 30, 2025


(In thousands, unaudited)


Consolidated


Radio
Broadcasting


Reach Media


Digital


Cable
Television


Corporate/
Eliminations/
Other

NET REVENUE

$     91,631


$     36,693


$       5,315


$     10,254


$     40,070


$        (701)

Less/(add):












Programming and technical

28,647


9,993


3,178


3,267


12,372


(163)

Sales and marketing

28,310


13,389


3,053


6,572


5,831


(535)

General and administrative

21,183


6,373


735


561


3,811


9,703

Add back:












Other costs

469


—


—


—


—


469

Adjusted EBITDA(2)

$     13,960


$       6,938


$     (1,651)


$       (146)


$      18,056


$     (9,237)

 


Six Months Ended
June 30, 2026


(In thousands, unaudited)


Consolidated


Radio
Broadcasting


Reach Media


Digital


Cable
Television


Corporate/
Eliminations/
Other

NET REVENUE

$     163,408


$      65,811


$        9,614


$      16,185


$      73,154


$     (1,356)

Less/(add):












Programming and technical

59,779


22,516


6,286


6,168


25,150


(341)

Sales and marketing

48,798


22,159


3,546


10,486


13,317


(710)

General and administrative

39,886


13,365


1,409


1,001


7,538


16,573

Add back:












Severance-related costs

219


99


72


16


—


32

Other costs

1,215


237


—


—


—


978

Adjusted EBITDA(2)

$      16,379


$       8,107


$      (1,555)


$      (1,454)


$      27,149


$    (15,868)

 


Six Months Ended
June 30, 2025


(In thousands, unaudited)














Consolidated


Radio
Broadcasting


Reach Media


Digital


Cable
Television


Corporate/
Eliminations/
Other

NET REVENUE

$     183,866


$      69,303


$      11,168


$      20,466


$      84,263


$      (1,334)

Less/(add):












Programming and technical

59,245


21,286


6,546


6,454


25,281


(322)

Sales and marketing

57,386


24,935


5,178


13,359


14,927


(1,013)

General and administrative

42,212


13,423


1,761


745


7,406


18,877

Add back/(deduct):












Severance-related costs

219


77


114


3


(1)


26

Other costs

1,575


50


1


1


—


1,523

Adjusted EBITDA(2)

$      26,817


$       9,786


$      (2,202)


$         (88)


$      36,648


$    (17,327)

 


Three Months Ended June 30, 


Six Months Ended June 30, 


2026


2025


2026


2025


(Unaudited)


(Unaudited)

PER SHARE DATA - basic and diluted:

(In thousands, except per share
data)


(In thousands, except per share
data)

Net loss attributable to common stockholders (basic)(a)

$         (1.58)


$      (17.41)


$         (2.28)


$      (20.02)

Net loss attributable to common stockholders (diluted)(a)

$         (1.58)


$      (17.41)


$         (2.28)


$      (20.02)









Broadcast and digital operating income(1)

$       22,152


$      25,664


$       37,016


$     48,680

Broadcast and digital operating income(1) reconciliation:








Net loss attributable to common stockholders

$       (7,073)


$     (77,902)


$      (10,152)


$    (89,644)

Add back/(deduct) certain non-broadcast and digital
operating income items included in net loss:








Interest and investment income

—


(616)


(8)


(1,582)

Interest expense

2,070


9,704


6,477


20,628

Benefit from income taxes

(1,703)


(21,382)


(3,144)


(5,724)

Corporate selling, general and administrative
expenses(b)

11,370


12,173


22,071


23,657

Stock-based compensation

1,680


574


1,881


1,250

Gain on sale of business

(4,671)


—


(4,671)


—

Gain on retirement of debt

—


(30,297)


(2,080)


(41,884)

Other expense (income), net

43


(124)


51


(316)

Depreciation and amortization

6,184


3,523


12,361


5,838

Net income (loss) attributable to non-controlling
interests

95


(67)


73


(64)

Impairment of goodwill, intangible assets and long-
lived assets

14,157


130,078


14,157


136,521

Broadcast and digital operating income(1)

$        22,152


$       25,664


$        37,016


$      48,680









Adjusted EBITDA(2)

$        11,723


$       13,960


$        16,379


$      26,817

Adjusted EBITDA(2) reconciliation:








Net loss attributable to common stockholders

$        (7,073)


$     (77,902)


$      (10,152)


$    (89,644)

Interest and investment income

—


(616)


(8)


(1,582)

Interest expense

2,070


9,704


6,477


20,628

Benefit from income taxes

(1,703)


(21,382)


(3,144)


(5,724)

Depreciation and amortization

6,184


3,523


12,361


5,838

EBITDA(2)

(522)


(86,673)


5,534


(70,484)

Stock-based compensation

1,680


574


1,881


1,250

Gain on sale of business

(4,671)


—


(4,671)


—

Gain on retirement of debt

—


(30,297)


(2,080)


(41,884)

Other expense (income), net

43


(124)


51


(316)

Net income (loss) attributable to non-controlling
interests

95


(67)


73


(64)

Corporate costs(c)

856


362


1,215


1,109

Severance-related costs

85


—


219


219

Impairment of goodwill, intangible assets and long-
lived assets

14,157


130,078


14,157


136,521

Loss from ceased non-core businesses initiatives

—


107


—


466

Adjusted EBITDA(2)

$        11,723


$       13,960


$        16,379


$      26,817



(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.

(b)

Corporate selling, general and administrative expenses consist of expenses associated with our corporate headquarters and facilities, including personnel as well as other corporate overhead functions.

(c)

Corporate costs primarily include professional fees related to the material weakness remediation efforts as well as legal costs related to acquisition activities.

 


As of June 30, 2026


As of December 31, 2025


(In thousands)

SELECTED CONSOLIDATED BALANCE SHEET DATA:


Cash and cash equivalents and restricted cash

$               16,202


$               26,358

Intangible assets, net(a)

257,116


279,653

Total assets

551,512


592,994

Total long-term debt, net

399,298


429,742

Short-term borrowings under the asset-backed facility

20,000


10,000

Total liabilities

532,284


565,760

Total stockholders' equity

16,313


24,603

Redeemable non-controlling interests(b)

—


2,631

Non-controlling interests(c)

2,915


—



(a)

Intangible assets, net include Goodwill, net, Radio Broadcasting Licenses, net, Other Intangible Assets, net, and Current Portion of Launch Assets, net.

(b)

On February 25, 2026, Reach Media closed on the Put Interest increasing the Company's interest in Reach Media to 100.0%. Reach Media paid the last of the non-controlling interest shareholders approximately $1.3 million for the 5.4% interest.

(c)

Non-controlling interests represent the legal ownership of a radio station operated under a Local Programming and Marketing Agreement and Option Agreement under the variable interest entity guidance effective April 1, 2026.

 


As of June 30, 2026


As of December 31, 2025


(In thousands)

SELECTED LEVERAGE DATA:


10.500% First Lien Senior Secured Notes due 2030(a, c)

$                60,600


$                60,600

7.625% Second Lien Secured Notes due 2031(a, c)

235,113


291,020

7.375% senior secured notes due February 2028(b)

7,516


11,816

Total principal outstanding on long-term debt

303,229


363,436

Less: Unamortized debt issuance costs

(2,479)


(2,868)

Add: Premium(c)

98,548


69,174

Long-term debt, net

$              399,298


$              429,742

Short-term borrowings under the asset-backed facility

$                20,000


$                10,000



(a)

The 2030 First Lien Notes and 2031 Second Lien Notes pay interest semiannually on April 1 and October 1 of each year in arrears.

(b)

Subsequent to the effectiveness of the supplemental indenture on December 18, 2025, these notes are no longer secured. While these notes are styled as senior secured notes they are no longer secured by collateral. The 2028 Notes pay interest semiannually on February 1 and August 1 of each year in arrears.

(c)

The 2030 First Lien Notes and 2031 Second Lien Notes are accounted for under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors.

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:


Three Months Ended June 30, 






2026


2025


$ Change


% Change



(In thousands, unaudited)




Net revenue:




Radio advertising

$       34,732


$       38,627


$      (3,895)


(10.1) %

Political advertising

1,243


254


989


*NM

Digital advertising

9,386


10,241


(855)


(8.3) %

Cable Television advertising

20,773


22,977


(2,204)


(9.6) %

Cable Television affiliate fees

16,286


17,061


(775)


(4.5) %

Event revenues & other

3,337


2,471


866


35.0 %

Net revenue

$       85,757


$       91,631


$     (5,874)


(6.4) %

*NM - Not meaningful

 


Six Months Ended June 30, 






2026


2025


$ Change


% Change



(In thousands, unaudited)




Net revenue:




Radio advertising

$        66,856


$       74,844


$      (7,988)


(10.7) %

Political advertising

2,143


404


1,739


*NM

Digital advertising

16,170


20,452


(4,282)


(20.9) %

Cable Television advertising

39,868


48,402


(8,534)


(17.6) %

Cable Television affiliate fees

33,163


35,778


(2,615)


(7.3) %

Event revenues & other

5,208


3,986


1,222


30.7 %

Net revenue

$      163,408


$     183,866


$    (20,458)


(11.1) %

*NM - Not meaningful.

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.


Three Months Ended June 30, 2026


(In thousands, unaudited)


Consolidated


Radio

Broadcasting


Reach

Media


Digital


Cable

Television


All Other -

Corporate/

Eliminations

NET REVENUE

$     85,757


$     35,276


$       4,754


$       9,397


$     37,121


$       (791)

OPERATING EXPENSES:












Programming and technical

29,774


10,910


3,203


3,127


12,704


(170)

Selling, general and
administrative

45,201


18,365


2,578


6,372


10,213


7,673

Stock-based compensation

1,680


44


13


25


781


817

Depreciation and amortization

6,184


4,919


23


379


674


189

Impairment of goodwill,
intangible assets and long-lived
assets

14,157


—


14,157


—


—


—

Total operating expenses

96,996


34,238


19,974


9,903


24,372


8,509

Operating (loss) income

(11,239)


1,038


(15,220)


(506)


12,749


(9,300)

INTEREST EXPENSE

(2,070)


(2)


—


—


—


(2,068)

GAIN ON SALE OF
BUSINESS

4,671


4,671


—


—


—


—

OTHER EXPENSE, NET

(43)


(43)


—


—


—


—

(Loss) income before benefit
from (provision for) income
taxes

(8,681)


5,664


(15,220)


(506)


12,749


(11,368)

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

1,703


(1,513)


515


115


(2,790)


5,376

NET (LOSS) INCOME

(6,978)


4,151


(14,705)


(391)


9,959


(5,992)

NET INCOME
ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

95


95


—


—


—


—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(7,073)


4,056


(14,705)


(391)


9,959


(5,992)

Adjusted EBITDA(2)

$     11,723


$       6,288


$     (1,027)


$        (92)


$     14,205


$     (7,651)

 


Three Months Ended June 30, 2025


(In thousands, unaudited)


Consolidated


Radio

Broadcasting


Reach

Media


Digital


Cable

Television


All Other -

Corporate/

Eliminations

NET REVENUE

$     91,631


$     36,693


$       5,315


$     10,254


$     40,070


$       (701)

OPERATING EXPENSES:












Programming and technical

28,647


9,993


3,178


3,267


12,372


(163)

Selling, general and
administrative

49,493


19,762


3,788


7,133


9,642


9,168

Stock-based compensation

574


133


23


73


201


144

Depreciation and amortization

3,523


2,278


33


393


675


144

Impairment of goodwill and
intangible assets

130,078


125,187


—


4,891


—


—

Total operating expenses

212,315


157,353


7,022


15,757


22,890


9,293

Operating (loss) income

(120,684)


(120,660)


(1,707)


(5,503)


17,180


(9,994)

INTEREST AND INVESTMENT
INCOME

616


—


—


—


—


616

INTEREST EXPENSE

(9,704)


(2)


(145)


—


—


(9,557)

GAIN ON RETIREMENT OF
DEBT

30,297


—


—


—


—


30,297

OTHER INCOME, NET

124


108


—


—


—


16

(Loss) income before benefit
from (provision for) income taxes

(99,351)


(120,554)


(1,852)


(5,503)


17,180


11,378

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

21,382


28,579


13


1,792


(3,693)


(5,309)

NET (LOSS) INCOME

(77,969)


(91,975)


(1,839)


(3,711)


13,487


6,069

NET LOSS ATTRIBUTABLE
TO NON-CONTROLLING
INTERESTS

(67)


—


(67)


—


—


—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(77,902)


(91,975)


(1,772)


(3,711)


13,487


6,069

Adjusted EBITDA(2)

$     13,960


$       6,938


$    (1,651)


$       (146)


$     18,056


$     (9,237)

 


Six Months Ended June 30, 2026


(In thousands, unaudited)


Consolidated


Radio

Broadcasting


Reach

Media


Digital


Cable

Television


All Other -

Corporate/

Eliminations

NET REVENUE

$    163,408


$     65,811


$       9,614


$     16,185


$     73,153


$     (1,355)

OPERATING EXPENSES:












Programming and technical

59,779


22,516


6,286


6,168


25,150


(341)

Selling, general and
administrative

88,684


35,524


4,957


11,486


20,854


15,863

Stock-based compensation

1,881


87


25


50


781


938

Depreciation and amortization

12,361


9,799


56


775


1,348


383

Impairment of goodwill,
intangible assets and long-lived
assets

14,157


—


14,157


—


—


—

Total operating expenses

176,862


67,926


25,481


18,479


48,133


16,843

Operating (loss) income

(13,454)


(2,115)


(15,867)


(2,294)


25,020


(18,198)

INTEREST AND
INVESTMENT INCOME

8


—


—


—


—


8

INTEREST EXPENSE

(6,477)


(4)


—


—


—


(6,473)

GAIN ON SALE OF
BUSINESS

4,671


4,671


—


—


—


—

GAIN ON RETIREMENT OF
DEBT

2,080


—


—


—


—


2,080

OTHER (EXPENSE) INCOME,
NET

(51)


(46)


—


(15)


—


10

(Loss) income before benefit
from (provision for) income
taxes

(13,223)


2,506


(15,867)


(2,309)


25,020


(22,573)

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

3,144


(737)


657


503


(5,467)


8,188

NET (LOSS) INCOME

(10,079)


1,769


(15,210)


(1,806)


19,553


(14,385)

NET INCOME (LOSS)
ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

73


95


(22)


—


—


—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(10,152)


1,674


(15,188)


(1,806)


19,553


(14,385)

Adjusted EBITDA(2)

$     16,379


$       8,107


$     (1,555)


$     (1,454)


$     27,149


$   (15,868)

 


Six Months Ended June 30, 2025


(In thousands, unaudited)


Consolidated


Radio

Broadcasting


Reach

Media


Digital


Cable

Television


All Other -

Corporate/

Eliminations

NET REVENUE

$    183,866


$     69,303


$     11,168


$     20,466


$     84,263


$     (1,334)

OPERATING EXPENSES:












Programming and technical

59,245


21,286


6,546


6,454


25,281


(322)

Selling, general and
administrative

99,598


38,358


6,939


14,104


22,333


17,864

Stock-based compensation

1,250


241


46


158


489


316

Depreciation and amortization

5,838


3,274


67


779


1,390


328

Impairment of goodwill and
intangible assets

136,521


131,630


—


4,891


—


—

Total operating expenses

302,452


194,789


13,598


26,386


49,493


18,186

Operating (loss) income

(118,586)


(125,486)


(2,430)


(5,920)


34,770


(19,520)

INTEREST AND
INVESTMENT INCOME

1,582


—


—


—


—


1,582

INTEREST EXPENSE

(20,628)


(4)


(145)


—


—


(20,479)

GAIN ON RETIREMENT OF
DEBT

41,884


—


—


—


—


41,884

OTHER INCOME, NET

316


108


—


—


—


208

(Loss) income before benefit
from (provision for) income
taxes

(95,432)


(125,382)


(2,575)


(5,920)


34,770


3,675

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

5,724


29,669


(3)


2,184


(7,575)


(18,551)

NET (LOSS) INCOME

(89,708)


(95,713)


(2,578)


(3,736)


27,195


(14,876)

NET LOSS ATTRIBUTABLE
TO NON-CONTROLLING
INTERESTS

(64)


—


(64)


—


—


—

NET (LOSS) INCOME
ATTRIBUTABLE TO COMMON
STOCKHOLDERS

(89,644)


(95,713)


(2,514)


(3,736)


27,195


(14,876)

Adjusted EBITDA(2)

$     26,817


$       9,786


$     (2,202)


$        (88)


$     36,648


$   (17,327)

 

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.

Notes:

1

"Broadcast and digital operating income": The radio broadcasting industry commonly refers to "station operating income" which consists of net loss before depreciation and amortization, income taxes, interest expense, interest and investment income, non-controlling interests in income of subsidiaries, other income, net, loss from unconsolidated joint venture, corporate selling, general and administrative expenses, stock-based compensation, impairment of goodwill and intangible assets, and (gain) loss on retirement of debt. However, given the diverse nature of our business, station operating income is not truly reflective of our multi-media operation and, therefore, we use the term "broadcast and digital operating income." Broadcast and digital operating income is not a measure of financial performance under GAAP. Nevertheless, broadcast and digital operating income is a significant measure used by our management to evaluate the operating performance of our core operating segments. Broadcast and digital operating income provides helpful information about our results of operations, apart from expenses associated with our fixed assets and goodwill and intangible assets, income taxes, investments, impairment charges, debt financings and retirements, corporate overhead and stock-based compensation. Our measure of broadcast and digital operating income is similar to industry use of station operating income; however, it reflects our more diverse business and therefore is not completely analogous to "station operating income" or other similarly titled measures as used by other companies. Broadcast and digital operating income does not represent operating income or loss, or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as an alternative to those measurements as an indicator of our performance.



2

"Adjusted EBITDA": Adjusted EBITDA consists of net (loss) income plus (1) depreciation and amortization, income taxes, interest expense, net income attributable to non-controlling interests, impairment of goodwill, intangible assets and long lived assets, stock-based compensation, gain on sale of business, (gain) loss on retirement of debt, corporate costs, non-recurring litigation settlement costs, non-recurring debt refinancing costs, severance-related costs, investment income, loss from ceased non-core business initiatives less (2) other income, net and interest and investment income. Net (loss) income before interest income, interest expense, income taxes, depreciation and amortization is commonly referred to in our business as "EBITDA." Adjusted EBITDA and EBITDA are not measures of financial performance under GAAP. We believe Adjusted EBITDA is often a useful measure of a company's operating performance and is a significant measure used by our management to evaluate the operating performance of our business. Accordingly, based on the previous description of Adjusted EBITDA, we believe that it provides useful information about the operating performance of our business, apart from the expenses associated with our fixed assets and goodwill and intangible assets, or capital structure. Adjusted EBITDA is frequently used as one of the measures for comparing businesses in the broadcasting industry, although our measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including, but not limited to the fact that our definition includes the results of all four of our operating segments (Radio Broadcasting, Reach Media, Digital, and Cable Television). Business activities unrelated to these four segments are included in an "all other" category which the Company refers to as "All other - corporate/eliminations." Adjusted EBITDA and EBITDA do not purport to represent operating income or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as alternatives to those measurements as an indicator of our performance.



3

For the three months ended June 30, 2026 and 2025, Urban One had 4,470,542 and 4,473,831 shares of common stock outstanding on a weighted average basis (basic), respectively. For the six months ended June 30, 2026 and 2025 Urban One had 4,460,275 and 4,476,828 shares of common stock outstanding on a weighted average basis (basic), respectively.



4

For the three months ended June 30, 2026 and 2025, Urban One had 4,470,542 and 4,473,831 shares of common stock outstanding on a weighted average basis (fully diluted for outstanding stock awards), respectively. For the six months ended June 30, 2026 and 2025 Urban One had 4,460,275 and 4,476,828 shares of common stock outstanding on a weighted average basis (basic), respectively.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-second-quarter-2026-results-302841724.html

SOURCE Urban One, Inc.

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