Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 13

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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Interest expense was approximately $30.1 million for the nine months ended September 30, 2025, compared to approximately $37.1 million for the nine months ended September 30, 2024, a decrease of approximately $7.0 million. The decrease was due to lower overall debt balances outstanding during the nine months ended September 30, 2025. See Note 9 - Long-Term Debt of our unaudited condensed consolidated financial statements for further information.

Gain On Retirement Of Debt

Nine Months Ended September 30,Change20252024$44,009$18,771$25,238 *NM

There was approximately a $44.0 million gain on retirement of debt for the nine months ended September 30, 2025, compared to approximately $18.8 million for the nine months ended September 30, 2024. During the nine months ended September 30, 2025, the Company repurchased approximately $96.7 million of its 2028 Notes at an average price of approximately 53.6% of par, resulting in a net gain on retirement of debt of approximately $44.0 million. During the nine months ended September 30, 2024, the Company repurchased approximately $125.0 million of its 2028 Notes at an average price of approximately 83.8% of par, resulting in a net gain on retirement of debt of approximately $18.8 million.

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Benefit From Income Taxes

Nine Months Ended September 30,Change20252024$6,845$17,824$(10,979)(61.6)%

For the nine months ended September 30, 2025, we recorded a benefit from income taxes of approximately $6.8 million. This amount is based on the actual effective tax rate of 6.9%. This rate includes approximately $14.6 million of discrete tax expense related to valuation allowance for net operating losses, and approximately $6.6 million of discrete tax expense related to the impact of the change of accounting estimate for radio broadcasting licenses. For the nine months ended September 30, 2024, we recorded a benefit from income taxes of approximately $17.8 million. This amount is based on the actual effective tax rate of 20.6%. This rate includes discrete tax expense of approximately $2.9 million related to return to provision adjustments, changes in valuation allowance for certain