Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 139

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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 gain on retirement of debt of approximately $7.9 million.

Other income, net

Three Months Ended March 31,Change20252024$192$886$(694)(78.3)%

Other income, net was approximately $0.2 million for the three months ended March 31, 2025, compared to $0.9 million for the three months ended March 31, 2024. During the three months ended March 31, 2024, the Company recognized income related to the sale of its equity interest in Broadcast Music, Inc.

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Provision for income taxes

Three Months Ended March 31,Change20252024$(15,658)$(2,502)$(13,156)*NM

For the three months ended March 31, 2025, we recorded a provision for income taxes of approximately $15.7 million resulting in an effective tax rate of 399.5%, which includes $14.6 million of discrete tax expense related to valuation allowance for net operating losses, and $0.2 million of discrete tax expense related to stock-based compensation. For the three months ended March 31, 2024, we recorded a provision for income taxes of approximately $2.5 million. This amount is based on the actual effective tax rate of 23.5%. This rate includes $0.3 million of discrete tax benefits primarily related to deferred rate changes. 

Loss from unconsolidated joint venture

Three Months Ended March 31,Change20252024$—$(411)$411 *NM

For the three months ended March 31, 2024, we recognized approximately $0.4 million loss from unconsolidated joint venture related to the Company’s investment on RVAEH, which was terminated in February 2024. 

Net income attributable to non-controlling interests

Three Months Ended March 31,Change20252024$334$697$(363)(52.1)%

Net income attributable to non-controlling interests was approximately $0.3 million for the three months ended March 31, 2025 compared to approximately $0.7 million for the three months ended March 31, 2024. The decrease in net income attributable to non-controlling interests was due primarily to the change in ownership interest in Reach Media during the three months ended March 31, 2025, compared to the three months ended March 31, 2024.

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Non-G