Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 143

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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 not yet been billed. Contract assets are included in trade accounts receivable, net on the unaudited condensed consolidated balance sheets. Customer advances and unearned income represent advance payments by customers for future services under contract that are generally fulfilled in the near term. For advertising sold based on audience guarantees, audience deficiency typically results in an obligation to deliver additional advertising units to the customer, generally within one year of the campaign end date. To the extent that audience guarantees are not met, a reserve for audience deficiency is recorded until such a time that the audience guarantee has been satisfied. Unearned event income represents payments by customers for upcoming events. Contract liabilities are included in other current liabilities on the unaudited condensed consolidated balance sheets.All of the customer advances and unearned income as of January 1, 2025 was recognized as revenue during the nine months ended September 30, 2025. For the reserve for audience deficiency as of January 1, 2025, approximately $11.5 million was recognized as revenue during the nine months ended September 30, 2025. The increase in unearned event income during the nine months ended September 30, 2025 is primarily related to the timing of the 2025 Fantastic Voyage annual cruise as defined in Note 7 - Related Party Transactions which is expected to occur in the fourth quarter of 2025.For customer advances and unearned income as of January 1, 2024, approximately $2.8 million was recognized as revenue during the nine months ended September 30, 2024. For the reserve for audience deficiency as of January 1, 2024, approximately $2.2 million was recognized as revenue during the nine months ended September 30, 2024. For unearned event income as of January 1, 2024, approximately $4.9 million was recognized as revenue during the nine months ended September 30, 2024 primarily driven by the 2024 Fantastic Voyage annual cruise.

4. EARNINGS PER SHAREBasic and diluted earnings per share (“EPS”) attributable to common stockholders is presented in conformity with the two-class method required for participating securities: Class A, Class B, Class C and Class D common stock. The rights of the holders of Class A, Class B, Class C and Class D common stock are identical, except with respect to voting, conversion, and transfer rights.The undistributed earnings or losses are allocated based on the contractual participation rights of Class A, Class B, Class C and Class