Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 175

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 175
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30,Change20252024$1,582$3,775$(2,193)(58.1)%

Interest income was approximately $1.6 million for the six months ended June 30, 2025, compared to approximately $3.8 million for the six months ended June 30, 2024. The decrease was driven by lower cash and cash equivalents balances during the six months ended June 30, 2025, than in the corresponding period in 2024.

Interest Expense

Six Months Ended June 30,Change20252024$(20,628)$(25,402)$4,774 (18.8)%

Interest expense was approximately $20.6 million for the six months ended June 30, 2025, compared to approximately $25.4 million for the six months ended June 30, 2024, 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