Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 81

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 results in an obligation to deliver additional advertising units to the customer, generally within one year of the campaign end date. To the extent that audience guarantees are not met, a reserve for audience deficiency is recorded until such a time that the audience guarantee has been satisfied. Unearned event income represents payments by customers for upcoming events. Contract liabilities are included in other current liabilities on the condensed consolidated balance sheets.

For customer advances and unearned income as of January 1, 2025, approximately $1.8 million was recognized as revenue during the three months ended March 31, 2025. For the reserve for audience deficiency as of January 1, 2025, approximately $2.9 million was recognized as revenue during the three months ended March 31, 2025. For unearned event income as of January 1, 2025, no revenue was recognized during the three months ended March 31, 2025. 

4. EARNINGS PER SHAREBasic and diluted earnings per share (“EPS”) attributable to common stockholders is presented in conformity with the two-class method required for participating securities: Class A, Class B, Class C and Class D common stock. The rights of the holders of Class A, Class B, Class C and Class D common stock are identical, except with respect to voting, conversion, and transfer rights.The undistributed earnings or losses are allocated based on the contractual participation rights of Class A, Class B, Class C and Class D common shares as if the earnings or losses for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings or losses are allocated on a proportionate basis, and as such, diluted and basic earnings per share is the same for each class of common stock under the two-class method.The following table sets forth the calculation of basic and diluted earnings per share from continuing operations:Three Months Ended March 31,20252024(In thousands, except per share data)Numerator:Net (loss) income attributable to Class A, Class B, Class C and Class D stockholders$(11,742)$7,493 Denominator:Denominator for basic net (loss) income per share - weighted average outstanding shares44,421,652 48,385,386 Effect of dilutive securities:Stock options and restricted stock— 1,536,417 Denominator for diluted net (loss) income per share - weighted-average outstanding shares44,421,652 49,921,803 Net (loss)