URBAN ONE, INC. REPORTS FOURTH QUARTER 2024 RESULTS

PR Newswire03-27

SILVER SPRING, Md., March 27, 2025 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended December 31, 2024. For the three months ended December...

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For the three months ended December...</p>\n\n<a href=\"https://finance.yahoo.com/news/urban-one-inc-reports-fourth-104500300.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>URBAN ONE, INC. REPORTS FOURTH QUARTER 2024 RESULTS</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nURBAN ONE, INC. REPORTS FOURTH QUARTER 2024 RESULTS\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-27 18:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/urban-one-inc-reports-fourth-104500300.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SILVER SPRING, Md., March 27, 2025 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended December 31, 2024. For the three months ended December...</p>\n\n<a href=\"https://finance.yahoo.com/news/urban-one-inc-reports-fourth-104500300.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4125","symbol_name":"广播","start_time":0,"source_url":"https://finance.yahoo.com/news/urban-one-inc-reports-fourth-104500300.html","article_id":"2522784103","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/urban-one-inc-reports-fourth-104500300.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2522784103","pubTimestamp":1743072300,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Three Months Ended December 31,Year Ended December 31,Programming and technical, excluding stock-based compensation. Selling, general and administrative, excluding stock-basedcompensation. Corporate selling, general and administrative, excludingstock-based compensation","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4125":"广播","BK4548":"巴美列捷福持仓","UONEK":"Urban One Inc","NET":"Cloudflare, Inc.","BK4607":"DeepSeek概念股","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","UONE":"Urban One","BK4585":"ETF&股票定投概念","INC":"VANECK DYNAMIC HIGH INCOME ETF","BK4560":"网络安全概念","BK4116":"互联网服务与基础架构","BK4588":"碎股","BK4613":"AI应用软件","BK4554":"元宇宙及AR概念"},"translate_title":"城市一号公司。报告2024年第四季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"INC":1,"NET":0.9,"UONE":1,"UONEK":0.9},"content_text":"SILVER SPRING, Md., March 27, 2025 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended December 31, 2024. For the three months ended December 31, 2024, net revenue was approximately $117.1 million, a decrease of 2.7% from the same period in 2023. The Company reported an operating loss of approximately $1.9 million for the three months ended December 31, 2024, compared to operating income of approximately $6.8 million for the three months ended December 31, 2023. Broadcast and digital operating income1 was approximately $38.6 million, an increase of 1.7% from the same period in 2023. Net loss was approximately $35.7 million or $(0.78) per share (basic) for the three months ended December 31, 2024 compared to net loss of $11.0 million or $(0.23) per share (basic) for the same period in 2023. Adjusted EBITDA2 was approximately $26.9 million for the three months ended December 31, 2024, compared to approximately $27.1 million for the same period in 2023.\n\n  \n\nAlfred C. Liggins, III, Urban One's CEO and President stated, \"Our Adjusted EBITDA of $103.5 million came in at the mid-point of guidance, helped by strong political advertising revenues in the radio division. The radio outperformance was offset by declines in both advertising and affiliate revenues at the cable TV segment, as audience delivery continued to underperform expectations. We are however seeing some stabilization in the first quarter cable TV delivery, which should help to mitigate the continuing decline of linear TV subscribers. First quarter core radio revenue demand weakened, with pacings down 13.6%, although the second quarter is showing signs of improvement, with core pacings currently down 1.7%. Our digital segment posted solid fourth quarter results, despite the challenging environment, with Adjusted EBITDA up 50.7% for the quarter. Cost containment and continued de-levering remains the focus for 2025, and the company remains in a strong position in terms of liquidity, with $137.1 million of cash and cash equivalents at year-end.\"\n\n\n\n\n\nThree Months Ended December 31, \n\nYear Ended December 31,  \n\n\n\n2024 \n\n2023 \n\n2024 \n\n2023 \n\n\nSTATEMENT OF OPERATIONS \n(in thousands, except share data) \n\n(in thousands, except share data) \n\n\nNET REVENUE \n$         117,127 \n\n$         120,344 \n\n$        449,674 \n\n$        477,690 \n\n\nOPERATING EXPENSES \n\n\n\n\n\n\n\n\n\nProgramming and technical, excluding stock-based compensation \n35,409 \n\n36,580 \n\n135,235 \n\n136,884 \n\n\nSelling, general and administrative, excluding stock-basedcompensation \n43,117 \n\n45,807 \n\n174,258 \n\n172,440 \n\n\nCorporate selling, general and administrative, excludingstock-based compensation \n12,546 \n\n23,251 \n\n50,579 \n\n53,583 \n\n\nStock-based compensation \n2,101 \n\n2,160 \n\n5,716 \n\n9,975 \n\n\nDepreciation and amortization \n1,635 \n\n810 \n\n7,716 \n\n7,101 \n\n\nImpairment of goodwill and intangible assets \n24,174 \n\n4,972 \n\n151,755 \n\n129,278 \n\n\nTotal operating expenses  \n118,982 \n\n113,580 \n\n525,259 \n\n509,261 \n\n\n             Operating (loss) income \n(1,855) \n\n6,764 \n\n(75,585) \n\n(31,571) \n\n\nINTEREST AND INVESTMENT INCOME \n1,117 \n\n2,479 \n\n5,980 \n\n6,967 \n\n\nINTEREST EXPENSE \n11,520 \n\n14,173 \n\n48,571 \n\n56,196 \n\n\nGAIN ON RETIREMENT OF DEBT \n4,500 \n\n— \n\n23,271 \n\n2,356 \n\n\nOTHER (LOSS) INCOME, NET \n(78) \n\n(451) \n\n896 \n\n96,084 \n\n\n(Loss) income before provision for income taxes and non-controllinginterest in income of subsidiaries  \n(7,836) \n\n(5,381) \n\n(94,009) \n\n17,640 \n\n\nPROVISION FOR INCOME TAXES \n27,583 \n\n2,686 \n\n9,759 \n\n7,944 \n\n\nNET (LOSS) INCOME FROM CONSOLIDATED OPERATIONS \n(35,419) \n\n(8,067) \n\n(103,768) \n\n9,696 \n\n\nLOSS FROM UNCONSOLIDATED JOINT VENTURE \n— \n\n(2,403) \n\n(411) \n\n(5,131) \n\n\nNET (LOSS) INCOME \n(35,419) \n\n(10,470) \n\n(104,179) \n\n4,565 \n\n\nNET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS \n239 \n\n515 \n\n1,215 \n\n2,515 \n\n\nNET (LOSS) INCOME ATTRIBUTABLE TO COMMONSTOCKHOLDERS \n$        (35,658) \n\n$        (10,985) \n\n$     (105,394) \n\n$             2,050 \n\n\n\n\n\n\n\n\n\n\n\n\nWeighted-average shares outstanding - basic3 \n45,659,589 \n\n47,804,932 \n\n47,402,869 \n\n47,645,678 \n\n\nWeighted-average shares outstanding - diluted4 \n45,659,589 \n\n47,804,932 \n\n47,402,869 \n\n50,243,810 \n\n\n\n\n\n\n\n\n\nThree Months Ended December 31, 2024 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadioBroadcasting \n\nReach Media \n\nCable Television \n\nDigital \n\nCorporate/ Eliminations/ Other \n\n\nNET REVENUE \n$        117,127 \n\n$          47,736 \n\n$            9,613 \n\n$          39,787 \n\n$          20,497 \n\n$             (506) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical \n35,409 \n\n11,814 \n\n3,652 \n\n15,920 \n\n4,179 \n\n(156) \n\n\nSales and marketing \n31,296 \n\n12,168 \n\n2,099 \n\n6,828 \n\n10,599 \n\n(398) \n\n\nGeneral and administrative \n24,367 \n\n8,636 \n\n1,119 \n\n5,006 \n\n668 \n\n8,938 \n\n\nOther segment income (expenses) \n815 \n\n(281) \n\n146 \n\n478 \n\n252 \n\n220 \n\n\nAdjusted EBITDA2 \n$         26,870 \n\n$         14,837 \n\n$           2,889 \n\n$         12,511 \n\n$           5,303 \n\n$         (8,670) \n\n\n\n\n\n\n\n\n\nThree Months Ended December 31, 2023 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadioBroadcasting \n\nReach Media \n\nCableTelevision \n\nDigital \n\nCorporate/ Eliminations/ Other \n\n\nNET REVENUE \n$        120,344 \n\n$          41,686 \n\n$          10,763 \n\n$          47,312 \n\n$          21,159 \n\n$             (576) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical \n36,580 \n\n11,135 \n\n4,238 \n\n16,373 \n\n5,158 \n\n(324) \n\n\nSales and marketing \n30,660 \n\n12,529 \n\n1,769 \n\n5,689 \n\n11,084 \n\n(411) \n\n\nGeneral and administrative \n38,398 \n\n10,813 \n\n1,442 \n\n4,598 \n\n2,177 \n\n19,368 \n\n\nOther segment income \n12,411 \n\n1,260 \n\n103 \n\n1,190 \n\n778 \n\n9,080 \n\n\nAdjusted EBITDA2 \n$         27,117 \n\n$           8,469 \n\n$           3,417 \n\n$         21,842 \n\n$           3,518 \n\n$       (10,129) \n\n\n\n\n\n\n\n\n\nYear Ended December 31, 2024 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadioBroadcasting \n\nReach Media \n\nCableTelevision \n\nDigital \n\nCorporate/Eliminations/ Other \n\n\nNET REVENUE \n$        449,674 \n\n$        165,803 \n\n$          47,260 \n\n$        168,199 \n\n$          70,748 \n\n$         (2,336) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical \n135,235 \n\n46,357 \n\n14,475 \n\n60,610 \n\n14,683 \n\n(890) \n\n\nSales and marketing \n130,858 \n\n49,521 \n\n16,003 \n\n31,412 \n\n35,695 \n\n(1,773) \n\n\nGeneral and administrative \n93,979 \n\n30,693 \n\n4,148 \n\n17,061 \n\n2,310 \n\n39,767 \n\n\nOther segment income (expenses) \n13,861 \n\n906 \n\n(596) \n\n567 \n\n(468) \n\n13,452 \n\n\nAdjusted EBITDA2 \n$       103,463 \n\n$         40,138 \n\n$         12,038 \n\n$         59,683 \n\n$         17,592 \n\n$       (25,988) \n\n\n\n\n\n\n\n\n\nYear Ended December 31, 2023 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadio Broadcasting \n\nReach Media \n\nCableTelevision \n\nDigital \n\nCorporate/ Eliminations/ Other \n\n\nNET REVENUE \n$        477,690 \n\n$        156,214 \n\n$          52,888 \n\n$        196,207 \n\n$          75,495 \n\n$         (3,114) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical \n136,884 \n\n43,705 \n\n16,207 \n\n62,935 \n\n15,490 \n\n(1,453) \n\n\nSales and marketing \n130,240 \n\n47,931 \n\n17,660 \n\n30,539 \n\n36,317 \n\n(2,207) \n\n\nGeneral and administrative \n95,783 \n\n29,967 \n\n4,283 \n\n15,158 \n\n3,708 \n\n42,667 \n\n\nOther segment income \n16,208 \n\n1,459 \n\n156 \n\n1,189 \n\n813 \n\n12,591 \n\n\nAdjusted EBITDA2 \n$       130,991 \n\n$         36,070 \n\n$         14,894 \n\n$         88,764 \n\n$         20,793 \n\n$       (29,530) \n\n\n\n\n\n\n\n\n\nThree Months Ended December 31, \n\nYear Ended December 31,  \n\n\n\n2024 \n\n2023 \n\n2024 \n\n2023 \n\n\nPER SHARE DATA - basic and diluted: \n(in thousands, except per share data) \n\n(in thousands, except per share data) \n\n\nNet (loss) income attributable to common stockholders (basic) \n(0.78) \n\n(0.23) \n\n(2.22) \n\n0.04 \n\n\nNet (loss) income attributable to common stockholders (diluted) \n(0.78) \n\n(0.23) \n\n(2.22) \n\n0.04 \n\n\n\n\n\n\n\n\n\n\n\n\nSELECTED OTHER DATA \n\n\n\n\n\n\n\n\n\nBroadcast and digital operating income1 \n$           38,601 \n\n$           37,957 \n\n$        140,181 \n\n$        168,366 \n\n\n\n\n\n\n\n\n\n\n\n\nBroadcast and digital operating income reconciliation: \n\n\n\n\n\n\n\n\n\nNet (loss) income attributable to common stockholders \n$        (35,658) \n\n$        (10,985) \n\n$     (105,394) \n\n$             2,050 \n\n\nAdd back/(deduct) certain non-broadcast and digitaloperating income items included in net (loss) income: \n\n\n\n\n\n\n\n\n\nInterest and investment income \n(1,117) \n\n(2,479) \n\n(5,980) \n\n(6,967) \n\n\nInterest expense \n11,520 \n\n14,173 \n\n48,571 \n\n56,196 \n\n\nProvision for income taxes \n27,583 \n\n2,686 \n\n9,759 \n\n7,944 \n\n\nCorporate selling, general and administrative expenses \n12,546 \n\n23,251 \n\n50,579 \n\n53,583 \n\n\nStock-based compensation \n2,101 \n\n2,160 \n\n5,716 \n\n9,975 \n\n\nGain on retirement of debt \n(4,500) \n\n— \n\n(23,271) \n\n(2,356) \n\n\nOther loss (income), net \n78 \n\n451 \n\n(896) \n\n(96,084) \n\n\nLoss from unconsolidated joint venture \n— \n\n2,403 \n\n411 \n\n5,131 \n\n\nDepreciation and amortization \n1,635 \n\n810 \n\n7,716 \n\n7,101 \n\n\nNet income attributable to non-controlling interests \n239 \n\n515 \n\n1,215 \n\n2,515 \n\n\nImpairment of goodwill and intangible assets \n24,174 \n\n4,972 \n\n151,755 \n\n129,278 \n\n\nBroadcast and digital operating income \n$           38,601 \n\n$           37,957 \n\n$        140,181 \n\n$        168,366 \n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted EBITDA2 \n$           26,870 \n\n$           27,117 \n\n$        103,463 \n\n$        130,991 \n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted EBITDA2 reconciliation: \n\n\n\n\n\n\n\n\n\nNet (loss) income attributable to common stockholders \n$        (35,658) \n\n$        (10,985) \n\n$     (105,394) \n\n$           2,050 \n\n\nInterest and investment income \n(1,117) \n\n(2,479) \n\n(5,980) \n\n(6,967) \n\n\nInterest expense \n11,520 \n\n14,173 \n\n48,571 \n\n56,196 \n\n\nProvision for income taxes \n27,583 \n\n2,686 \n\n9,759 \n\n7,944 \n\n\nDepreciation and amortization \n1,635 \n\n810 \n\n7,716 \n\n7,101 \n\n\nEBITDA \n$              3,963 \n\n$             4,205 \n\n$       (45,328) \n\n$          66,324 \n\n\nStock-based compensation \n2,101 \n\n2,160 \n\n5,716 \n\n9,975 \n\n\nGain on retirement of debt \n(4,500) \n\n— \n\n(23,271) \n\n(2,356) \n\n\nOther loss (income), net \n78 \n\n451 \n\n(896) \n\n(96,084) \n\n\nLoss from unconsolidated joint venture \n— \n\n2,403 \n\n411 \n\n5,131 \n\n\nNet income attributable to non-controlling interests \n239 \n\n515 \n\n1,215 \n\n2,515 \n\n\nCorporate development costs, net \n(1,574) \n\n8,556 \n\n8,658 \n\n12,872 \n\n\nEmployment Agreement Award and other compensation \n— \n\n2,832 \n\n— \n\n169 \n\n\nSeverance-related costs \n1,881 \n\n352 \n\n2,712 \n\n669 \n\n\nImpairment of goodwill and intangible assets \n24,174 \n\n4,972 \n\n151,755 \n\n129,278 \n\n\nInvestment income from MGM National Harbor \n— \n\n— \n\n— \n\n(115) \n\n\nLoss from ceased non-core businesses initiatives \n508 \n\n671 \n\n2,491 \n\n2,613 \n\n\nAdjusted EBITDA2 \n$           26,870 \n\n$           27,117 \n\n$        103,463 \n\n$        130,991 \n\n\n\n\n\n\n\n\n\nDecember 31, 2024 \n\nDecember 31, 2023 \n\n\nSELECTED BALANCE SHEET DATA: \n(in thousands) \n\n\nCash and cash equivalents and restricted cash \n$       137,574 \n\n$       233,570 \n\n\nIntangible assets, net \n490,024 \n\n645,979 \n\n\nTotal assets \n944,790 \n\n1,211,173 \n\n\nTotal debt (including current portion, net of issuance costs) \n579,069 \n\n716,246 \n\n\nTotal liabilities \n765,857 \n\n920,588 \n\n\nTotal stockholders' equity \n170,945 \n\n274,065 \n\n\nRedeemable non-controlling interests \n7,988 \n\n16,520 \n\n\n\nDecember 31,2024 \n\nApplicable Interest Rate \n\n\nSELECTED LEVERAGE DATA: \n(in thousands) \n\n\n7.375% senior secured notes due February 2028, net of issuance costsof approximately $5.5 million (fixed rate) \n$       579,069 \n\n7.375 % \n\n\n\n\nCautionary Note Regarding Forward-Looking Statements\nThis press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One's control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One's reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the \"SEC\"). Urban One does not undertake any duty to update any forward-looking statements.\nFor the three months ended December 31, 2024, we recognized approximately $117.1 million in net revenue compared to approximately $120.3 million during the three months ended December 31, 2023. These amounts are net of agency commissions. We recognized approximately $47.7 million of revenue from our Radio Broadcasting segment during the three months ended December 31, 2024, compared to approximately $41.7 million for the three months ended December 31, 2023, an increase of approximately $6.0 million, primarily driven by increased political revenue, offset by a decrease in local and national sales driven by lower demand. We recognized approximately $9.6 million of revenue from our Reach Media segment during the three months ended December 31, 2024, compared to approximately $10.8 million for the three months ended December 31, 2023, a decrease of approximately $1.2 million. The decrease was primarily driven by lower demand and attrition of advertisers. We recognized approximately $20.5 million of revenue from our Digital segment during the three months ended December 31, 2024, compared to approximately $21.2 million during the three months ended December 31, 2023, a decrease of approximately $0.7 million. The decrease was primarily driven by a decrease in national direct sales and lower demand from the Company's advertisers. We recognized approximately $39.8 million of revenue from our Cable Television segment during the three months ended December 31, 2024, compared to approximately $47.3 million during the three months ended December 31, 2023, a decrease of approximately $7.5 million. The decrease was primarily driven by a decrease in audience viewership affecting advertising sales and the continued churn in subscribers.\nThe following charts indicate the sources of our net revenues for the three months and year ended December 31, 2024:\n\n\n\n\n\nThree Months Ended December 31, \n\n\n\n\n\n\n\n2024 \n\n2023 \n\n$ Change \n\n% Change \n\n\n\n\n\n\n\n\n\n\n\n\nNet Revenue: \n(in thousands) \n\n\n\n\n\n\nRadio advertising \n$          43,978 \n\n$          47,814 \n\n$         (3,836) \n\n(8.0) % \n\n\nPolitical advertising \n13,479 \n\n1,948 \n\n11,531 \n\n591.9 % \n\n\nDigital advertising \n18,082 \n\n20,838 \n\n(2,756) \n\n(13.2) % \n\n\nCable television advertising \n21,226 \n\n27,021 \n\n(5,795) \n\n(21.4) % \n\n\nCable television affiliate fees \n18,161 \n\n20,158 \n\n(1,997) \n\n(9.9) % \n\n\nEvent revenues & other \n2,201 \n\n2,565 \n\n(364) \n\n(14.2) % \n\n\nNet revenue \n$         117,127 \n\n$         120,344 \n\n$         (3,217) \n\n(2.7) % \n\n\n\n\n\n\n\n\n\nYear Ended December 31, \n\n\n\n\n\n\n\n2024 \n\n2023 \n\n$ Change \n\n% Change \n\n\n\n\n\n\n\n\n\n\n\n\nNet Revenue: \n(in thousands) \n\n\n\n\n\n\nRadio advertising \n$          175,731 \n\n$         182,362 \n\n$         (6,631) \n\n(3.6) % \n\n\nPolitical advertising \n20,439 \n\n3,881 \n\n16,558 \n\n426.6 % \n\n\nDigital advertising \n66,992 \n\n74,866 \n\n(7,874) \n\n(10.5) % \n\n\nCable television advertising \n90,604 \n\n108,307 \n\n(17,703) \n\n(16.3) % \n\n\nCable television affiliate fees \n77,071 \n\n87,747 \n\n(10,676) \n\n(12.2) % \n\n\nEvent revenues & other \n18,837 \n...\n     20,527 \n\n(1,690) \n\n(8.2) % \n\n\nNet revenue (as reported) \n$          449,674 \n\n$         477,690 \n\n$       (28,016) \n\n(5.9) % \n\n\n\n\nOperating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill and intangible assets, were approximately $91.1 million for the three months ended December 31, 2024, compared to approximately $105.6 million for the comparable period in 2023. The overall decrease in operating expenses was primarily due to lower expenses across most segments, and higher third-party professional fees.\nDepreciation and amortization expense was approximately $1.6 million for the three months ended December 31, 2024, compared to approximately $0.8 million for the three months ended December 31, 2023, an increase of approximately $0.8 million due to a higher overall balance of depreciable assets for the three months ended December 31, 2024.\nImpairment of goodwill and intangible assets was approximately $24.2 million during the three months ended December 31, 2024, compared to approximately $5.0 million for the three months ended December 31, 2023. The impairment loss of $24.2 million in the three months ended December 31, 2024 was driven by approximately $4.0 million associated with the TV One Trade Name and approximately $20.2 million associated with TV One reporting. The primary factors leading to the impairments were a continued decline of projected gross market revenues for TV One and a decline in operating profit margin.\nInterest and Investment income was approximately $1.1 million for the three months ended December 31, 2024, compared to approximately $2.5 million for the three months ended December 31, 2023. The decrease was driven by lower cash and cash equivalents balances during the three months ended December 31, 2024, than in the corresponding period in 2023.\nInterest expense was approximately $11.5 million for the three months ended December 31, 2024, compared to approximately $14.2 million for the three months ended December 31, 2023, a decrease of approximately $2.7 million. During the three months ended December 31, 2024, the Company repurchased $15.4 million of its 2028 Notes at an average price of 69.8% of par, reducing the outstanding balance to $584.6 million compared to $725.0 million as of December 31, 2023. In January 2025, the Company repurchased an additional $17.0 million of its 2028 Notes at an average price of 62.5% of par, reducing the current balance to $567.6 million. The company made cash interest payments of $0.3 million during the three months ended December 31, 2024.\nFor the three months ended December 31, 2024, we recorded a provision for income taxes of approximately $27.6 million on the pre-tax loss of approximately $7.8 million resulting with an annual effective tax rate of 352.0%. The difference between the effective rate and the Company's statutory rate relates primarily to the effect of state taxes, changes in our valuation allowance, uncertain tax positions, and permanent differences associated with non-deductible officer compensation. For the three months ended December 31, 2023, we recorded a provision for income taxes of approximately $2.7 million on pre-tax loss of approximately $5.4 million resulting with an annual effective tax rate of 49.9%. The difference between the effective rate and the Company's statutory rate relates primarily to the effect of state taxes, uncertain tax positions, Internal Revenue Code (\"IRC\") Section 382 adjustments, and permanent differences associated with non-deductible officer compensation. In general, permanent book to tax differences have a greater impact on pre-tax income when the income is lower in the given period. The Company paid income taxes of $0.1 million for the three months ended December 31, 2024.\nOther pertinent financial information includes capital expenditures of approximately $1.3 million and $1.9 million for the three months ended December 31, 2024 and 2023, respectively.\nDuring the three months ended December 31, 2024, the Company repurchased 1,386,544 shares of Class A Common Stock in the amount of approximately $2.1 million at an average price of $1.50 per share, of which 908,894 shares of Class A were held in treasury stock as of December 31, 2024. During the three months ended December 31, 2024, the Company repurchased 703,292 shares of Class D Common Stock in the amount of approximately $0.7 million at an average price of $1.02 per share. During the three months ended December 31, 2023, the Company did not repurchase any shares of Class A or Class D Common Stock.\nSupplemental Financial Information:\nFor comparative purposes, the following more detailed statements of operations for the three months and year ended December 31, 2024 are included.\n\n\n\n\n\nThree Months Ended December 31, 2024 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadio Broadcasting \n\nReach Media \n\nDigital \n\nCable Television \n\nAll Other -  Corporate/ Eliminations \n\n\nNET REVENUE \n$        117,127 \n\n$          47,736 \n\n$            9,613 \n\n$          20,497 \n\n$          39,787 \n\n$             (506) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical  \n35,409 \n\n11,814 \n\n3,652 \n\n4,179 \n\n15,920 \n\n(156) \n\n\nSelling, general and administrative \n43,117 \n\n20,804 \n\n2,382 \n\n11,267 \n\n9,073 \n\n(409) \n\n\nCorporate selling, general and administrative \n12,546 \n\n— \n\n836 \n\n— \n\n2,761 \n\n8,949 \n\n\nStock-based compensation \n2,101 \n\n285 \n\n39 \n\n36 \n\n307 \n\n1,434 \n\n\nDepreciation and amortization \n1,635 \n\n1,163 \n\n(18) \n\n374 \n\n63 \n\n53 \n\n\nImpairment of goodwill and intangible assets \n24,174 \n\n— \n\n— \n\n— \n\n24,174 \n\n— \n\n\nTotal operating expenses \n118,982 \n\n34,066 \n\n6,891 \n\n15,856 \n\n52,298 \n\n9,871 \n\n\n       Operating (loss) income \n(1,855) \n\n13,670 \n\n2,722 \n\n4,641 \n\n(12,511) \n\n(10,377) \n\n\nINTEREST AND INVESTMENT INCOME \n1,117 \n\n— \n\n— \n\n— \n\n— \n\n1,117 \n\n\nINTEREST EXPENSE \n11,520 \n\n60 \n\n— \n\n— \n\n(1) \n\n11,461 \n\n\nGAIN ON RETIREMENT OF DEBT \n4,500 \n\n— \n\n— \n\n— \n\n— \n\n4,500 \n\n\nOTHER LOSS, NET \n(78) \n\n(18) \n\n— \n\n(10) \n\n— \n\n(50) \n\n\n(Loss) income before provision for (benefit from)income taxes and non-controlling interest in income of subsidiaries \n(7,836) \n\n13,592 \n\n2,722 \n\n4,631 \n\n(12,510) \n\n(16,271) \n\n\nPROVISION FOR (BENEFIT FROM) INCOME TAXES \n27,583 \n\n4,055 \n\n1,213 \n\n8,976 \n\n(383) \n\n13,722 \n\n\nNET (LOSS) INCOME \n(35,419) \n\n9,537 \n\n1,509 \n\n(4,345) \n\n(12,127) \n\n(29,993) \n\n\nNET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTERESTS \n239 \n\n— \n\n1,215 \n\n— \n\n— \n\n(976) \n\n\nNET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS \n$       (35,658) \n\n$           9,537 \n\n$               294 \n\n$         (4,345) \n\n$       (12,127) \n\n$       (29,017) \n\n\nAdjusted EBITDA2 \n$          26,870 \n\n$          14,837 \n\n$            2,889 \n\n$            5,303 \n\n$          12,511 \n\n$         (8,670) \n\n\n\n\n\n\n\n\n\nThree Months Ended December 31, 2023 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadio Broadcasting \n\nReach Media \n\nDigital \n\nCable Television \n\nAll Other -  Corporate/ Eliminations \n\n\nNET REVENUE \n$        120,344 \n\n$          41,686 \n\n$          10,763 \n\n$          21,159 \n\n$          47,312 \n\n$             (576) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical  \n36,580 \n\n11,135 \n\n4,238 \n\n5,158 \n\n16,373 \n\n(324) \n\n\nSelling, general and administrative \n45,807 \n\n23,342 \n\n2,026 \n\n13,261 \n\n7,381 \n\n(203) \n\n\nCorporate selling, general and administrative \n23,251 \n\n— \n\n1,185 \n\n— \n\n2,906 \n\n19,160 \n\n\nStock-based compensation \n2,160 \n\n616 \n\n(180) \n\n42 \n\n1 \n\n1,681 \n\n\nDepreciation and amortization \n810 \n\n977 \n\n42 \n\n275 \n\n42 \n\n(526) \n\n\nImpairment of goodwill and intangible assets \n4,972 \n\n4,972 \n\n— \n\n— \n\n— \n\n— \n\n\nTotal operating expenses \n113,580 \n\n41,042 \n\n7,311 \n\n18,736 \n\n26,703 \n\n19,788 \n\n\n       Operating income (loss) \n6,764 \n\n644 \n\n3,452 \n\n2,423 \n\n20,609 \n\n(20,364) \n\n\nINTEREST AND INVESTMENT INCOME \n2,479 \n\n— \n\n— \n\n— \n\n— \n\n2,479 \n\n\nINTEREST EXPENSE \n14,173 \n\n56 \n\n— \n\n— \n\n— \n\n14,117 \n\n\nOTHER (LOSS) INCOME, NET \n(451) \n\n14 \n\n— \n\n— \n\n— \n\n(465) \n\n\n(Loss) income before provision for (benefit from)income taxes and non-controlling interest in income of subsidiaries \n(5,381) \n\n602 \n\n3,452 \n\n2,423 \n\n20,609 \n\n(32,467) \n\n\nPROVISION FOR (BENEFIT FROM) INCOME TAXES \n2,686 \n\n2,598 \n\n1,207 \n\n654 \n\n7,560 \n\n(9,333) \n\n\nNET (LOSS) INCOME FROM CONSOLIDATED OPERATIONS \n(8,067) \n\n(1,996) \n\n2,245 \n\n1,769 \n\n13,049 \n\n(23,134) \n\n\nLOSS FROM UNCONSOLIDATED JOINT VENTURE, NET OF TAX \n(2,403) \n\n— \n\n— \n\n— \n\n— \n\n(2,403) \n\n\nNET (LOSS) INCOME \n(10,470) \n\n(1,996) \n\n2,245 \n\n1,769 \n\n13,049 \n\n(25,537) \n\n\nNET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS \n515 \n\n— \n\n— \n\n— \n\n— \n\n515 \n\n\nNET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS \n$       (10,985) \n\n$         (1,996) \n\n$           2,245 \n\n$           1,769 \n\n$         13,049 \n\n$       (26,052) \n\n\nAdjusted EBITDA2 \n$          27,117 \n\n$            8,469 \n\n$            3,417 \n\n$            3,518 \n\n$          21,842 \n\n$       (10,129) \n\n\n\n\n\n\n\n\n\nYear Ended December 31, 2024 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadio  Broadcasting \n\nReach Media \n\nDigital \n\nCable Television \n\nAll Other -  Corporate/ Eliminations \n\n\nNET REVENUE \n$        449,674 \n\n$        165,803 \n\n$          47,260 \n\n$          70,748 \n\n$        168,199 \n\n$         (2,336) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical  \n135,235 \n\n46,357 \n\n14,475 \n\n14,683 \n\n60,610 \n\n(890) \n\n\nSelling, general and administrative \n174,258 \n\n80,214 \n\n17,237 \n\n37,995 \n\n40,584 \n\n(1,772) \n\n\nCorporate selling, general and administrative \n50,579 \n\n— \n\n2,914 \n\n10 \n\n7,889 \n\n39,766 \n\n\nStock-based compensation \n5,716 \n\n647 \n\n117 \n\n174 \n\n1,118 \n\n3,660 \n\n\nDepreciation and amortization \n7,716 \n\n4,634 \n\n103 \n\n1,589 \n\n411 \n\n979 \n\n\nImpairment of goodwill and intangible assets \n151,755 \n\n118,492 \n\n— \n\n— \n\n33,263 \n\n— \n\n\nTotal operating expenses \n525,259 \n\n250,344 \n\n34,846 \n\n54,451 \n\n143,875 \n\n41,743 \n\n\n       Operating (loss) income \n(75,585) \n\n(84,541) \n\n12,414 \n\n16,297 \n\n24,324 \n\n(44,079) \n\n\nINTEREST AND INVESTMENT INCOME \n5,980 \n\n— \n\n— \n\n— \n\n— \n\n5,980 \n\n\nINTEREST EXPENSE \n48,571 \n\n235 \n\n— \n\n— \n\n(1) \n\n48,337 \n\n\nGAIN ON RETIREMENT OF DEBT \n23,271 \n\n— \n\n— \n\n— \n\n— \n\n23,271 \n\n\nOTHER INCOME (LOSS), NET \n896 \n\n(30) \n\n— \n\n(10) \n\n— \n\n936 \n\n\n(Loss) income before provision for (benefit from) income taxes and non-controlling interest in income of subsidiaries \n(94,009) \n\n(84,806) \n\n12,414 \n\n16,287 \n\n24,325 \n\n(62,229) \n\n\nPROVISION FOR (BENEFIT FROM) INCOME TAXES \n9,759 \n\n(18,368) \n\n3,327 \n\n8,133 \n\n7,699 \n\n8,968 \n\n\nNET (LOSS) INCOME FROM CONSOLIDATED OPERATIONS \n(103,768) \n\n(66,438) \n\n9,087 \n\n8,154 \n\n16,626 \n\n(71,197) \n\n\nLOSS FROM UNCONSOLIDATED JOINT VENTURE, net of tax \n(411) \n\n— \n\n— \n\n— \n\n— \n\n(411) \n\n\nNET (LOSS) INCOME \n(104,179) \n\n(66,438) \n\n9,087 \n\n8,154 \n\n16,626 \n\n(71,608) \n\n\nNET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS \n1,215 \n\n— \n\n1,215 \n\n— \n\n— \n\n— \n\n\nNET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS \n$     (105,394) \n\n$       (66,438) \n\n$            7,872 \n\n$            8,154 \n\n$          16,626 \n\n$       (71,608) \n\n\nAdjusted EBITDA2 \n$        103,463 \n\n$          40,138 \n\n$          12,038 \n\n$          17,592 \n\n$          59,683 \n\n$       (25,988) \n\n\n\n\n\n\n\n\n\nYear Ended December 31, 2023 \n\n\n\n(in thousands) \n\n\n\nConsolidated \n\nRadio  Broadcasting \n\nReach Media \n\nDigital \n\nCable Television \n\nAll Other -  Corporate/ Eliminations \n\n\nNET REVENUE \n$        477,690 \n\n$        156,214 \n\n$          52,888 \n\n$          75,495 \n\n$        196,207 \n\n$         (3,114) \n\n\nOPERATING EXPENSES: \n\n\n\n\n\n\n\n\n\n\n\n\n\nProgramming and technical  \n136,884 \n\n43,705 \n\n16,207 \n\n15,490 \n\n62,935 \n\n(1,453) \n\n\nSelling, general and administrative \n172,440 \n\n77,898 \n\n18,747 \n\n40,022 \n\n37,769 \n\n(1,996) \n\n\nCorporate selling, general and administrative \n53,583 \n\n— \n\n3,196 \n\n3 \n\n7,928 \n\n42,456 \n\n\nStock-based compensation \n9,975 \n\n1,063 \n\n445 \n\n176 \n\n575 \n\n7,716 \n\n\nDepreciation and amortization \n7,101 \n\n3,707 \n\n162 \n\n1,352 \n\n1,369 \n\n511 \n\n\nImpairment of goodwill and intangible assets \n129,278 \n\n129,278 \n\n— \n\n— \n\n— \n\n— \n\n\nTotal operating expenses \n509,261 \n\n255,651 \n\n38,757 \n\n57,043 \n\n110,576 \n\n47,234 \n\n\n       Operating (loss) income \n(31,571) \n\n(99,437) \n\n14,131 \n\n18,452 \n\n85,631 \n\n(50,348) \n\n\nINTEREST AND INVESTMENT INCOME \n6,967 \n\n— \n\n— \n\n— \n\n— \n\n6,967 \n\n\nINTEREST EXPENSE \n56,196 \n\n222 \n\n— \n\n— \n\n2,559 \n\n53,415 \n\n\nGAIN ON RETIREMENT OF DEBT \n2,356 \n\n— \n\n— \n\n— \n\n— \n\n2,356 \n\n\nOTHER INCOME, NET \n96,084 \n\n7 \n\n— \n\n— \n\n— \n\n96,077 \n\n\nIncome (loss) before provision for (benefit from) income taxes and non-controlling interest in income of subsidiaries \n17,640 \n\n(99,652) \n\n14,131 \n\n18,452 \n\n83,072 \n\n1,637 \n\n\nPROVISION FOR (BENEFIT FROM) INCOME TAXES \n7,944 \n\n(21,937) \n\n3,549 \n\n654 \n\n21,265 \n\n4,413 \n\n\nNET INCOME (LOSS) FROM CONSOLIDATED OPERATIONS \n9,696 \n\n(77,715) \n\n10,582 \n\n17,798 \n\n61,807 \n\n(2,776) \n\n\nLOSS FROM UNCONSOLIDATED JOINT VENTURE, net of tax \n(5,131) \n\n— \n\n— \n\n— \n\n— \n\n(5,131) \n\n\nNET INCOME (LOSS) \n4,565 \n\n(77,715) \n\n10,582 \n\n17,798 \n\n61,807 \n\n(7,907) \n\n\nNET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS \n2,515 \n\n— \n\n— \n\n— \n\n— \n\n2,515 \n\n\nNET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS \n$            2,050 \n\n$       (77,715) \n\n$          10,582 \n\n$          17,798 \n\n$          61,807 \n\n$       (10,422) \n\n\nAdjusted EBITDA2 \n$        130,991 \n\n$          36,070 \n\n$          14,894 \n\n$          20,793 \n\n$          88,764 \n\n$       (29,530) \n\n\n\n\nUrban One, Inc. will hold a conference call to discuss its results for the fourth fiscal quarter of 2024. The conference call is scheduled for Thursday, March 27, 2025 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free (+1) 888-596-4144; international callers may dial direct (+1) 646-968-2525. The Access Code is 3407726.\nA replay of the conference call will be available from 2:00 p.m. EDT March 27, 2025 until 11:59 p.m. EDT April 3, 2025. Callers may access the replay by calling (+1) 800-770-2030; international callers may dial direct (+1) 609-800-9909. The replay Access Code is 3407726.\nAccess to live audio and a replay of the conference call will also be available on Urban One's corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call.\nUrban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 37 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of March 27, 2025, we owned and/or operated 72 independently formatted, revenues producing broadcast stations (including 57 FM or AM stations, 13 HD stations, and the 2 low power television stations) branded under the trade name \"Radio One\" in 13 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African American and urban audiences.\nNotes:\n\n\n\n\n1 \n\"Broadcast and digital operating income\": The radio broadcasting industry commonly refers to \"station operating income\" which consists of net (loss) income before depreciation and amortization, income taxes, interest expense, interest and investment income, non-controlling interests in income of subsidiaries, other income, net, loss from unconsolidated joint venture, corporate selling, general and administrative expenses, stock-based compensation, impairment of goodwill and intangible assets, and (gain) loss on retirement of debt. However, given the diverse nature of our business, station operating income is not truly reflective of our multi-media operation and, therefore, we use the term \"broadcast and digital operating income.\" Broadcast and digital operating income is not a measure of financial performance under GAAP. Nevertheless, broadcast and digital operating income is a significant measure used by our management to evaluate the operating performance of our core operating segments. Broadcast and digital operating income provides helpful information about our results of operations, apart from expenses associated with our fixed assets and goodwill and intangible assets, income taxes, investments, impairment charges, debt financings and retirements, corporate overhead, and stock-based compensation. Our measure of broadcast and digital operating income is similar to industry use of station operating income; however, it reflects our more diverse business and therefore is not completely analogous to \"station operating income\" or other similarly titled measures as used by other companies. Broadcast and digital operating income does not represent operating income or loss, or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as an alternative to those measurements as an indicator of our performance. \n\n\n\n\n\n\n2 \n\"Adjusted EBITDA\": Adjusted EBITDA consists of net (loss) income plus (1) depreciation and amortization, income taxes, interest expense, net income attributable to non-controlling interests, impairment of goodwill and intangible assets, stock-based compensation, (gain) loss on retirement of debt, employment agreement award and other compensation, corporate development costs, severance-related costs, investment income, loss from unconsolidated joint venture, loss from ceased non-core business initiatives less (2) other income, net and interest and investment income. Net (loss) income before interest income, interest expense, income taxes, depreciation and amortization is commonly referred to in our business as \"EBITDA.\" Adjusted EBITDA and EBITDA are not measures of financial performance under GAAP. We believe Adjusted EBITDA is often a useful measure of a company's operating performance and is a significant measure used by our management to evaluate the operating performance of our business. Accordingly, based on the previous description of Adjusted EBITDA, we believe that it provides useful information about the operating performance of our business, apart from the expenses associated with our fixed assets and goodwill and intangible assets or capital structure. Adjusted EBITDA is frequently used as one of the measures for comparing businesses in the broadcasting industry, although our measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including, but not limited to the fact that our definition includes the results of all four of our operating segments (Radio Broadcasting, Reach Media, Digital, and Cable Television). Business activities unrelated to these four segments are included in an \"all other\" category which the Company refers to as \"All other - corporate/eliminations\". Adjusted EBITDA and EBITDA do not purport to represent operating income or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as alternatives to those measurements as an indicator of our performance. \n\n\n\n\n\n\n3 \nFor the three months ended December 31, 2024 and 2023, Urban One had 45,659,589 and 47,804,932 shares of common stock outstanding on a weighted average basis (basic), respectively. For the year ended December 31, 2024 and 2023, Urban One had 47,402,869 and 47,645,678 shares of common stock outstanding on a weighted average basis (basic), respectively. \n\n\n\n\n\n\n4 \nFor the three months ended December 31, 2024 and 2023, Urban One had 45,659,589 and 47,804,932 shares of common stock outstanding on a weighted average basis (fully diluted for outstanding stock awards), respectively. For the year ended December 31, 2024 and 2023, Urban One had 47,402,869 and 50,243,810 shares of common stock outstanding on a weighted average basis (fully diluted for outstanding stock awards), respectively. \n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-fourth-quarter-2024-results-302412648.html\nSOURCE Urban One, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.2","shortVersion":"4.33.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2522784103"}