Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 8

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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 This rate includes discrete tax expense of approximately $2.9 million primarily related to return to provision adjustments, changes in valuation allowance for certain of our state net operating losses, and stock-based compensation.

Net Income Attributable To Non-controlling Interests

Three Months Ended September 30,Change20252024$9$400$(391)(97.8)%

The decrease in net income attributable to non-controlling interests was primarily due to the change in ownership interest in Reach Media during the first quarter of 2025 and decreased profitability in the business compared to the same period in 2024.

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The following table summarizes our historical unaudited condensed consolidated results of operations:

Nine Months Ended September 30, 2025 Compared To Nine Months Ended September 30, 2024 

Nine Months Ended September 30, 20252024Change (In thousands)Net revenue$276,543$332,547$(56,004)(16.8)%Operating expenses:Programming and technical, excluding stock-based compensation93,95099,826(5,876)(5.9)Selling, general and administrative, excluding stock-based compensation148,591169,174(20,583)(12.2)Stock-based compensation1,6153,615(2,000)(55.3)Depreciation and amortization11,9426,0815,861 96.4 Impairment of goodwill and intangible assets136,521127,5818,940 7.0 Total operating expenses392,619406,277(13,658)(3.4)Operating loss(116,076)(73,730)(42,346)57.4 Interest and investment income2,0944,863(2,769)(56.9)Interest expense(30,076)(37,051)6,975(18.8)Gain on retirement of debt44,00918,77125,238 *NMOther income, net675974(299)(30.7)Loss from operations before benefit from income taxes(99,374)(86,173)(13,201)15.3 Benefit from income taxes6,845 17,824 (10,979)(61.6)Net loss from consolidated operations(92,529)(68,349)(24,180)35.4 Loss from unconsolidated joint venture—(411)411(100.0)Net loss(92,529)(68,760)(