Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 135

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 a decrease of approximately $4.8 million. The decrease was due to lower overall debt balances outstanding during the six months ended June 30, 2025. See Note 9 - Long-Term Debt of our unaudited condensed consolidated financial statements for further information.

Gain On Retirement Of Debt

Six Months Ended June 30,Change20252024$41,884$15,299$26,585 *NM

There was approximately an $41.9 million gain on retirement of debt for the six months ended June 30, 2025, compared to approximately $15.3 million for the six months ended June 30, 2024. During the six months ended June 30, 2025, the Company repurchased approximately $92.2 million of its 2028 Notes at an average price of approximately 53.7% of par, resulting in a net gain on retirement of debt of approximately $41.9 million. During the six months ended June 30, 2024, the Company repurchased approximately $110.5 million of its 2028 Notes at an average price of approximately 85.0% of par, resulting in a net gain on retirement of debt of approximately $15.3 million.

Other income, net

Six Months Ended June 30,Change20252024$316$900$(584)(64.9)%

Other income, net, was approximately $0.3 million for the six months ended June 30, 2025, compared to approximately $0.9 million for the six months ended June 30, 2024. During the six months ended June 30, 2024, the Company recognized income related to the sale of its equity interest in Broadcast Music, Inc.

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Benefit from income taxes

Six Months Ended June 30,Change20252024$5,724$16,010$(10,286)(64.2)%

For the six months ended June 30, 2025, we recorded a benefit from income taxes of approximately $5.7 million. This amount is based on the actual effective tax rate of 6.0%. This rate includes approximately $14.6 million of discrete tax expense related to valuation allowance for net operating losses, and approximately $6.6 million of discrete tax expense related to the impact of the change of accounting estimate for radio broadcasting licenses. For the six months ended June