Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 141

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 141
---

The reconciliation of net loss attributable to common stockholders to Adjusted EBITDA is as follows:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)(In thousands)Net loss to common stockholders$(77,902)$(45,431)$(89,644)$(37,938)Add back/(deduct) certain non-broadcast and digital operating income items included in net loss:Interest and investment income(616)(1,777)(1,582)(3,775)Interest expense9,704 12,404 20,628 25,402 Benefit from income taxes(21,382)(18,512)(5,724)(16,010)Depreciation and amortization3,523 2,993 5,838 4,843 EBITDA$(86,673)$(50,323)$(70,484)$(27,478)Stock-based compensation574 1,079 1,250 2,463 Gain on retirement of debt(30,297)(7,425)(41,884)(15,299)Other income, net(124)(14)(316)(900)Loss from unconsolidated joint venture— — — 411 Net (loss) income attributable to non-controlling interests(67)334 (64)576 Corporate costs(a)362 3,488 1,109 8,847 Severance-related costs— 516 219 580 Impairment of goodwill and intangible assets130,078 80,758 136,521 80,758 Loss from ceased non-core business initiatives(b)107 509 466 1,221 Adjusted EBITDA$13,960 $28,922 $26,817 $51,179 

(a)Corporate costs include professional fees related to the material weakness remediation efforts.

(b)In 2024, we made an immaterial change to the definition of Adjusted EBITDA by adding back the loss from ceased non-core operations. All historical periods were recast to reflect this immaterial change.

48

Table of Contents

LIQUIDITY AND CAPITAL RESOURCES 

Our primary source of liquidity is cash provided by operations and, to the extent necessary, borrowings available under our asset-backed credit facility. Our cash, cash equivalents and restricted cash balance was approximately $86.2 million as of June 30