Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 103

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 103
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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 of our state net operating losses, and stock-based compensation.

Loss From Unconsolidated Joint Venture

Nine Months Ended September 30,Change20252024$—$(411)$411 (100.0)%

For the nine months ended September 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

Nine Months Ended September 30,Change20252024$(55)$976$(1,031)*NM

Net (loss) income attributable to non-controlling interests was approximately $(0.1) million for the nine months ended September 30, 2025, compared to approximately $1.0 million for the nine months ended September 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 nine months ended September 30, 2025, compared to the nine months ended September 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 United States (“GAAP”). We use non-GAAP financial measures including broadcast and digital operating income and Adjusted EBITDA as additional means to evaluate our business and operating results through period-to-period comparisons. Reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures are included below