Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 20

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 December 31, 2023$10 $3 $2 $34 $1,007,387 $(733,371)$274,065 Net income attributable to Urban One— — — — — 7,493 7,493 Stock-based compensation expense— — — — 1,384 — 1,384 Repurchase of 396,052 shares of Class D common stock— — — — (1,386)— (1,386)Settlement of stock-based compensation liability— — — 1 4,649 — 4,650 Adjustment of redeemable non-controlling interests to estimated redemption value— — — — (1,004)— (1,004)BALANCE, as of March 31, 2024$10 $3 $2 $35 $1,011,030 $(725,878)$285,202 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

8

URBAN ONE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three Months EndedMarch 31,20252024CASH FLOWS FROM OPERATING ACTIVITIES:  Net (loss) income$(11,739)$7,735 Adjustments to reconcile net (loss) income to net cash from operating activities:Depreciation and amortization2,315 1,850 Amortization of debt financing costs453 509 Amortization of launch assets1,245 1,245 Amortization of content assets9,882 11,444 Deferred income taxes15,548 2,502 Impairment of intangible assets6,443 — Stock-based compensation expense676 1,384 Gain on retirement of debt(11,587)(7,874)Non-cash fair value adjustment of Employment Agreement Award637 (23)Other(196)(1,016)Effect of change in operating assets and liabilities, net of assets acquired:  Trade accounts receivable, net19,987 10,020 Prepaid expenses and other current assets(693)1,067 Other assets61 (3,448)Content assets and payables(10,744)(15,217)Accounts