Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 3

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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, INC. AND SUBSIDIARIES

RESULTS OF OPERATIONS

The following table summarizes our historical unaudited condensed consolidated results of operations:

Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024 

Three Months Ended September 30, 20252024Change (In thousands)Net revenue$92,677$110,393$(17,716)(16.0)%Operating expenses:Programming and technical, excluding stock-based compensation34,70533,911794 2.3Selling, general and administrative, excluding stock-based compensation48,99353,466(4,473)(8.4)Stock-based compensation3651,152(787)(68.3)Depreciation and amortization6,1041,2384,866 *NMImpairment of goodwill and intangible assets—46,823(46,823)(100.0)Total operating expenses90,167136,590(46,423)(34.0)Operating income (loss)2,510(26,197)28,707*NMInterest and investment income5121,088(576)(52.9)Interest expense(9,448)(11,649)2,201 (18.9)Gain on retirement of debt2,1253,472(1,347)(38.8)Other income, net35974 285*NMLoss from operations before benefit from income taxes(3,942)(33,212)29,270 (88.1)Benefit from income taxes1,1211,814 (693)(38.2)Net loss from consolidated operations(2,821)(31,398)28,577(91.0)Net loss(2,821)(31,398)28,577(91.0)Net income attributable to non-controlling interests9400(391)(97.8)Net loss attributable to common stockholders$(2,830)$(31,798)$28,968(91.1)%

*NM - Not meaningful

37

Net Revenue

Three Months Ended September 30,Change20252024$92,677$110,393$(17,716)(16.0)%

During the three months ended September 30, 2025, we recognized approximately $92.7 million in net revenue compared to approximately $110.4 million during the three months ended September 30, 2024. These amounts are net of