Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 57

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 headcount. Expenses in our Reach Media segment decreased approximately $8.1 million for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to the Fantastic Voyage cruise that took place in May 2024. The 2025 Fantastic Voyage cruise is scheduled to take place in October 2025. Our corporate headquarters' expenses increased approximately $2.1 million for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily due to the change in the fair value of the Employment Agreement Award liability (as defined in Note 5 - Fair Value Measurements) offset by lower professional services costs.

Stock-based Compensation

Three Months Ended June 30,Change20252024$574$1,079$(505)(46.8)%

Stock-based compensation expense was approximately $0.6 million for the three months ended June 30, 2025, compared to approximately $1.1 million for the three months ended June 30, 2024, a decrease of approximately $0.5 million. The decrease was primarily due to the timing of vesting of stock awards for executive officers. 

Depreciation And Amortization

Three Months Ended June 30,Change20252024$3,523$2,993$530 17.7 %

Depreciation and amortization expense was approximately $3.5 million for the three months ended June 30, 2025, compared to approximately $3.0 million for the three months ended June 30, 2024, an increase of approximately $0.5 million. This increase is primarily driven by the TV One Trade Name and radio broadcasting license amortization (as described in Note 8 – Goodwill and Other Intangible Assets) offset by additional depreciation on leasehold improvements during the three months ended June 30, 2024.

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Impairment Of Goodwill And Intangible Assets

Three Months Ended June 30,Change20252024$130,078$80,758$49,320 61.1 %

Impairment of goodwill and intangible assets was approximately $130.1 million during the three months ended June 30, 2025, compared to $80.8 million during the three months ended June 30, 2024. See Note 8 – Goodwill