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 (In thousands, except share
OPERATIONS 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)
-------------------------------------------------------------------------------------------
Corporate/
Radio Cable Eliminations/
Consolidated Broadcasting Reach Media Digital Television 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)
----------------------------------------------------------------------------------------
Corporate/
Radio Cable Eliminations/
Consolidated Broadcasting Reach Media Digital Television 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: