Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 176

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 176
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 ended June 30, 2024. During the six months ended June 30, 2024, the Company recognized income related to the sale of its equity interest in Broadcast Music, Inc.

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Benefit from income taxes

Six Months Ended June 30,Change20252024$5,724$16,010$(10,286)(64.2)%

For the six months ended June 30, 2025, we recorded a benefit from income taxes of approximately $5.7 million. This amount is based on the actual effective tax rate of 6.0%. 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 six months ended June 30, 2024, we recorded a benefit from income taxes of approximately $16.0 million. This amount is based on the actual effective tax rate of 30.0%. This rate includes $0.1 million of discrete tax benefits primarily related to deferred rate changes.

Loss From Unconsolidated Joint Venture

Six Months Ended June 30,Change20252024$—$(411)$411 (100.0)%

For the six months ended June 30, 2024, we recognized approximately $0.4 million loss from the termination of an unconsolidated joint venture related to the Company’s investment on RVAEH.

Net (Loss) Income Attributable To Non-controlling Interests

Six Months Ended June 30,Change20252024$(64)$576$(640)*NM

Net (loss) income attributable to non-controlling interests was approximately $(0.1) million for the six months ended June 30, 2025, compared to approximately $0.6 million for the six months ended June 30, 2024. The decrease in net income attributable to non-controlling interests was primarily due to the increase of our change in ownership interest in Reach Media during the six months ended June 30, 2025, compared to the six months ended June 30, 2024

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Non-GAAP Financial Measures

The presentation of non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to the financial information prepared and presented in accordance with accounting principles generally accepted in the