Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 113

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 EBITDA and EBITDA are not measures of financial performance under GAAP. We believe Adjusted EBITDA is often a useful measure of a company’s operating performance and is a significant measure used by our management to evaluate the operating performance of our business. Accordingly, based on the previous description of Adjusted EBITDA, we believe that it provides useful information about the operating performance of our business, apart from the expenses associated with our fixed assets and goodwill and intangible assets, or capital structure. Adjusted EBITDA is frequently used as one of the measures for comparing businesses in the broadcasting industry, although our measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including, but not limited to the fact that our definition includes the results of all four of our operating segments (Radio Broadcasting, Reach Media, Digital and Cable Television). Business activities unrelated to these four segments are included in "Corporate/Eliminations/ Other" line item in the reconciliation to the pre-tax income. Adjusted EBITDA and EBITDA do not purport to represent operating income or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as alternatives to those measurements as an indicator of our performance.

Summary of Performance

The tables below provide a summary of our performance based on the metrics described above:

Three Months Ended March 31,20252024(In thousands)Net revenue$92,235 $104,410 Broadcast and digital operating income23,016 32,014 Adjusted EBITDA(a)12,857 22,257 Net (loss) income to common stockholders(11,742)7,493 

(a)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.

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The reconciliation of net (loss) income attributable to common stockholders to broadcast and digital operating income 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 Corporate selling, general and administrative