Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 112

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 considered as an alternative to those measurements as an indicator of our performance.

Broadcast and digital operating income decreased to approximately $23.0 million for the three months ended March 31, 2025, compared to approximately $32.0 million for the three months ended March 31, 2024, a decrease of approximately $9.0 million or 28.1%. This decrease was primarily due to lower broadcast and digital operating income at all segments but our Cable Television segment. Our Digital segment generated approximately $0.1 million of broadcast and digital operating income during the three months ended March 31, 2025, compared to approximately $3.0 million during the three months ended March 31, 2024, primarily due to lower revenues and higher selling, general and administrative expenses offset by lower programming and technical costs. Reach Media generated approximately $0.7 million of broadcast and digital operating income during the three months ended March 31, 2025, compared to approximately $2.5 million during the three months ended March 31, 2024, primarily due to lower revenues offset by lower expenses. Our Radio Broadcasting segment generated approximately $2.7 million of broadcast and digital operating income during the three months ended March 31, 2025, compared to approximately $6.6 million during the three months ended March 31, 2024, primarily due to lower revenues offset by lower expenses. Finally, Cable Television generated approximately $18.6 million of broadcast and digital operating income during the three months ended March 31, 2025, compared to approximately $19.5 million during the three months ended March 31, 2024. The increase in the Cable Television segment’s broadcast and digital operating income was primarily due to lower expenses offset by lower net revenues. 

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(c)Adjusted EBITDA: Adjusted EBITDA consists of net (loss) income plus (1) depreciation and amortization, income taxes, interest expense, net income attributable to non-controlling interests, impairment of intangible assets, stock-based compensation, (gain) loss on retirement of debt, corporate development costs, severance-related costs, investment income, loss from unconsolidated joint venture, loss from ceased non-core business initiatives less (2) other income, net and interest and investment income. Net (loss) income before interest income, interest expense, income taxes, depreciation and amortization is commonly referred to in our business as “EBITDA.” Adjusted