Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 134

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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; (ii) programming expenses; (iii) marketing and promotional expenses; (iv) rental of premises for office facilities and studios; (v) rental of transmission tower space; (vi) music license royalty fees; and (vii) content amortization. We strive to control these expenses by centralizing certain functions such as finance, accounting, legal, human resources, and management information systems and, in certain markets, the programming management function. We also use our multiple stations, market presence and purchasing power to negotiate favorable rates with certain vendors and national representative selling agencies. In addition to salaries and commissions, major expenses for our internet business include membership traffic acquisition costs, software product design, post-application software development and maintenance, database and server support costs, the help desk function, data center expenses connected with internet service provider (“ISP”) hosting services and other internet content delivery expenses. Major expenses for our Cable Television segment include content acquisition and amortization, sales, and marketing.

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We generally incur marketing and promotional expenses to increase and maintain our audiences. However, because Nielsen reports ratings either monthly or quarterly, depending on the particular market, any changed ratings and the effect on advertising revenue tends to lag behind both the reporting of the ratings and the incurrence of advertising and promotional expenditures.

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URBAN ONE, INC. AND SUBSIDIARIES

RESULTS OF OPERATIONS

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

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024 

Three Months Ended March 31, 20252024Change (In thousands)Statements of Operations:    Net revenue$92,235$104,410$(12,175)(11.7)%Operating expenses:Programming and technical, excluding stock-based compensation30,59832,659(2,061)(6.3)Selling, general and administrative, excluding stock-based compensation50,10555,629(5,524)(9.9)Stock-based compensation6761,384(708)(51.2)Depreciation and amortization2,3151,850465 25.1 Impairment of intangible assets6,443—6,443 *NMTotal operating expenses90,13791,522(1,385)(1.5)Operating income2,09812,888(10,790)(83.7)Interest and investment income9661,998(1,032)(51.7)Interest expense(10,