Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 97

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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 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%. This rate includes discrete tax expense of approximately $2.9 million primarily related to return to provision adjustments, changes in valuation allowance for certain of our state net operating losses, and stock-based compensation.

Net Income Attributable To Non-controlling Interests

Three Months Ended September 30,Change20252024$9$400$(391)(97.8)%

The decrease in net income attributable to non-controlling interests was primarily due to the change in ownership interest in Reach Media during the first quarter of 2025 and decreased profitability in the business compared to the same period in 2024.

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The following table summarizes our historical unaudited condensed consolidated results of operations:

Nine Months Ended September 30, 2025 Compared To Nine Months Ended September 30, 2024 

Nine Months Ended September 30, 20252024Change (In thousands)Net revenue$276,543$332,547$(56,004)(16.8)%Operating expenses:Programming and technical, excluding stock-based compensation93,95099,826(5,876)(5.9)Selling, general and administrative, excluding stock-based compensation148,591169,174(20,583)(12.2)Stock-based compensation1,6153,615(2,000)(55.3)Depreciation and amortization11,9426,0815,861 96.4 Impairment of goodwill and intangible assets136,521127,5818,940 7.0 Total operating expenses392,619406,277(13,658)(3.4)Operating loss(116,076)(73,730)(42,346)57.4