Ken Silver

Hal Steiner

Marlane Pereiro

Marlene Pereira

Aaron Watts

Ben Briggs

Dominic Laib

Matthew Swope

Unknown Analyst

- Urban One reported **Q3 2025 consolidated net revenue of $92.7 million**, a **16% decrease** year-over-year, and **consolidated adjusted EBITDA of $14.2 million**, down **44.1%**.  **[0001041657_2232288_1]** **[0001041657_2232288_2]**  The company also reported a **net loss of $2.8 million**, or **$0.06 per share**.  **[0001041657_2232288_2]** 
- The full-year EBITDA guidance has been adjusted downwards to **$56-$58 million** from the previously guided $60 million due to softer Q3 revenues and political headwinds.  **[0001041657_2232288_0]** 
- The company implemented **$3 million** of annualized expense savings in Q3, in addition to **$5 million** earlier in the year, and repurchased **$4.5 million** of its 2028 notes.  **[0001041657_2232288_0]** **[0001041657_2232288_2]**  As of September 30, 2025, gross debt was **$487.8 million**, with net debt at **$408.5 million**, resulting in a net leverage ratio of **6.02 times**.  **[0001041657_2232288_2]** 
- Management expressed optimism for **2026** due to it being a political year and strategic changes, including addressing challenges in Reach Media and launching a new format in the DC market.  **[0001041657_2232288_3]** 
- While no transformative M&A deals are currently underway, the company is exploring opportunities related to potential deregulation in the industry and is maintaining liquidity to act on future options.  **[0001041657_2232288_4]**

Urban One Reports Q3 2025 Results, Adjusts Full-Year Guidance

- Urban One, Inc. reported **net revenue of $92.7 million** for the three months ended September 30, 2025, marking a **16.0% decrease** from the same period in 2024.  **[1041657_0001041657-25-000056_uone-20251104xexx991.htm:0]** 
- The company recorded a **net loss of $2.8 million**, or **$(0.06) per share** (basic), and **Adjusted EBITDA of $14.2 million** for Q3 2025.  **[1041657_0001041657-25-000056_uone-20251104xexx991.htm:0]** 
- CEO Alfred C. Liggins, III stated that Q3 results were **softer than expected** across the board, with significant revenue declines in the Reach Media segment (**down 40.0%**) and Digital segment (**down 30.0%**).  **[1041657_0001041657-25-000056_uone-20251104xexx991.htm:0]** 
- Due to soft overall market conditions, Urban One **reduced its full-year Adjusted EBITDA guidance** from $60.0 million to a range of **$56.0 million to $58.0 million**.  **[1041657_0001041657-25-000056_uone-20251104xexx991.htm:0]** 
- During the third quarter of 2025, the company **repurchased $4.5 million of its 2028 Notes**, bringing the outstanding debt balance down to **$487.8 million**.  **[1041657_0001041657-25-000056_uone-20251104xexx991.htm:0]**

Urban One, Inc. Reports Q3 2025 Results and Reduces Full-Year Guidance

- Urban One reported **Q3 2025 consolidated net revenue of approximately $92.7 million**, marking a **16% decrease** year-over-year, and **consolidated adjusted EBITDA of $14.2 million**, which was down **44.1%**.  **[0001041657_2231530_1]** **[0001041657_2231530_2]** 
- The company adjusted its full-year EBITDA guidance down to a range of **$56 million to $58 million** from the previously guided $60 million.  **[0001041657_2231530_0]** 
- Cost reduction efforts in Q3 resulted in **$3 million of annualized expense savings**, in addition to **$5 million** saved earlier in the year, though **$1 million** in employee severance costs were recorded in Q3.  **[0001041657_2231530_0]** **[0001041657_2231530_1]** 
- During the quarter, Urban One repurchased **$4.5 million** of its 2028 notes at an average price of **52%**, and also repurchased **176,591 shares of Class A common stock** for approximately **$300,000** and **592,822 shares of Class D common stock** for approximately **$400,000**.  **[0001041657_2231530_2]** 
- As of September 30, 2025, total gross debt stood at approximately **$487.8 million**, with net debt at approximately **$408.5 million**.  **[0001041657_2231530_2]**  The company has decided to "sit pat" on further debt buybacks to build liquidity and explore potential M&A opportunities.  **[0001041657_2231530_4]**

Urban One Announces Q3 2025 Earnings and Revised Full-Year Guidance

- Urban One, Inc. reported **net revenue of approximately $92.7 million** for the three months ended September 30, 2025, representing a **16.0% decrease** from the same period in 2024.  **[1041657_20251104PH14122:0]** 
- The company's **net loss improved significantly** to approximately **$2.8 million**, or **$(0.06) per share**, for Q3 2025, compared to a net loss of approximately $31.8 million, or $(0.68) per share, in Q3 2024.  **[1041657_20251104PH14122:0]** 
- **Adjusted EBITDA decreased by 43.6%** to approximately **$14.2 million** for the three months ended September 30, 2025, down from $25.4 million in the prior year period.  **[1041657_20251104PH14122:0]** 
- Due to soft overall market conditions, Urban One **reduced its full-year Adjusted EBITDA guidance** from $60.0 million to **$56.0 million to $58.0 million**.  **[1041657_20251104PH14122:1]** 
- During the third quarter of 2025, the company **repurchased $4.5 million of its 2028 Notes** at an average price of approximately 52.0% of par, reducing its outstanding debt balance to **$487.8 million**.  **[1041657_20251104PH14122:1]** **[1041657_20251104PH14122:8]** 

| Metric | Q3 2025 | Q3 2024 |
|---|---|---|
| Net Revenue ($USD Millions) | **$92.7**  **[1041657_20251104PH14122:0]**  | $110.4  **[1041657_20251104PH14122:0]**  |
| Operating Income (Loss) ($USD Millions) | **$2.5**  **[1041657_20251104PH14122:0]**  | $(26.2)  **[1041657_20251104PH14122:0]**  |
| Net Loss ($USD Millions) | **$(2.8)**  **[1041657_20251104PH14122:0]**  | $(31.8)  **[1041657_20251104PH14122:0]**  |
| EPS ($USD) | **$(0.06)**  **[1041657_20251104PH14122:0]**  | $(0.68)  **[1041657_20251104PH14122:0]**  |
| Adjusted EBITDA ($USD Millions) | **$14.2**  **[1041657_20251104PH14122:0]**  | $25.4  **[1041657_20251104PH14122:0]**  |

URBAN ONE (UONE)