Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 114

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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, excluding stock-based compensation11,484 15,892 Stock-based compensation676 1,384 Gain on retirement of debt(11,587)(7,874)Other income, net(192)(886)Loss from unconsolidated joint venture— 411 Depreciation and amortization2,315 1,850 Net income attributable to non-controlling interests3 242 Impairment of intangible assets6,443 — Broadcast and digital operating income$23,016 $32,014 

The reconciliation of net (loss) income attributable to common stockholders to Adjusted EBITDA is as follows:

Three Months Ended March 31,20252024(In thousands)Net (loss) income to common stockholders$(11,742)$7,493 Add back/(deduct) certain non-broadcast and digital operating income items included in net (loss) income:Interest and investment income(966)(1,998)Interest expense10,924 12,998 Provision for income taxes15,658 2,502 Depreciation and amortization2,315 1,850 EBITDA$16,189 $22,845 Stock-based compensation676 1,384 Gain on retirement of debt(11,587)(7,874)Other income, net(192)(886)Loss from unconsolidated joint venture— 411 Net income attributable to non-controlling interests3 242 Corporate costs(a)747 5,359 Severance-related costs219 64 Impairment of intangible assets6,443 — Loss from ceased non-core business initiatives(b)359 712 Adjusted EBITDA$12,857 $22,257 

(a)Corporate costs include professional fees related to the material weakness remediation efforts.

(b)In 2024, we made an immaterial change to the definition of Adjusted EBITDA by adding back the loss from ceased non-core operations. All historical periods were recast to reflect this immaterial change.

41

LIQUIDITY AND CAPITAL RESOURCES 

Our primary source of liquidity is cash provided by operations and, to the extent necessary, borrowings available under our asset-backed credit facility. Our cash, cash equivalents and restricted cash balance was approximately $115.6 million as of March 31, 2025. As of March 31, 2025, there were no borrowings outstanding on the Current