Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 7

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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 three months ended September 30, 2024. The decrease was driven by lower cash and cash equivalents balances during the three months ended September 30, 2025, than in the corresponding period in 2024.

Interest Expense

Three Months Ended September 30,Change20252024$(9,448)$(11,649)$2,201 (18.9)%

Interest expense was approximately $9.4 million for the three months ended September 30, 2025, compared to approximately $11.6 million for the three months ended September 30, 2024, a decrease of approximately $2.2 million. This decrease was due to lower overall debt balances outstanding. See Note 9 - Long-Term Debt of the Company’s unaudited condensed consolidated financial statements for further discussion. 

Gain On Retirement Of Debt

Three Months Ended September 30,Change20252024$2,125$3,472$(1,347)(38.8)%

There was an approximately $2.1 million gain on retirement of debt for the three months ended September 30, 2025, compared to approximately $3.5 million for the three months ended September 30, 2024. During the three months ended September 30, 2025, the Company repurchased approximately $4.5 million of its 2028 Notes at an average price of approximately 52.0% of par, resulting in a net gain on retirement of debt of approximately $2.1 million. During the three months September 30, 2024, the Company repurchased approximately $14.5 million of its 2028 Notes at an average price of approximately 75.0% of par, resulting in a net gain on retirement of debt of approximately $3.5 million.

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Benefit From Income Taxes

Three Months Ended September 30,Change20252024$1,121$1,814 $(693)(38.2)%

For the three months ended September 30, 2025, we recorded a benefit from income taxes of approximately $1.1 million resulting in an effective tax rate of 28.4%, which includes $0.1 million of discrete tax expense primarily related to the impact of stock-based compensation. For the three months ended September 30, 2024, we recorded a benefit from income taxes of approximately $1.8 million resulting in an effective tax rate of 5.5%.