Company: UONE
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001041657-25-000013
Chunk: 88

Company: URBAN ONE, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 88
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 year ended December 31, 2023 primarily due to lower affiliate station costs. Finally, expenses in our Cable Television segment increased approximately $2.8 million or the year ended December 31, 2024, compared to the year ended December 31, 2023 due primarily to an increase in research and payroll expenses offset by a decrease in promotional events expenses.

Corporate selling, general and administrative, excluding stock-based compensation

Years Ended December 31, Change 20242023$50,579$53,583$(3,004)(5.6)%

Corporate expenses consist of expenses associated with our corporate headquarters and facilities, including personnel as well as other corporate overhead functions. Corporate selling, general and administrative expenses were approximately $50.6 million for the year ended December 31, 2024 compared to approximately $53.6 million for the year ended December 31, 2023, a decrease of approximately $3.0 million. This decrease was primarily driven by lower third-party consultant costs.

Stock-based compensation

Years Ended December 31, Change 20242023$5,716 $9,975 $(4,259)(42.7)%

Stock-based compensation expense was approximately $5.7 million for the year ended December 31, 2024 compared to approximately $10.0 million for the year ended December 31, 2023, a decrease of approximately $4.3 million. The decrease in stock-based compensation for the year ended December 31, 2024, compared to the year ended December 31, 2023, was primarily due to the timing of vesting of stock awards for executive officers and the decrease in grant date fair value of awards.

40

Depreciation and amortization

Years Ended December 31, Change 20242023$7,716$7,101$615 8.7 %

Depreciation and amortization expense was approximately $7.7 million for the year ended December 31, 2024, compared to approximately $7.1 million for the year ended December 31, 2023, an increase of approximately $0.6 million. This increase is due to a higher overall balance of depreciable assets for the year ended December 31, 2024.

Impairment of goodwill and intangible assets

Years Ended December 31, Change 20242023$151,755 $129,278 $22,477 17.4 %

Impairment