1. UONEK reported a net revenue of $117.1 million, down 2.7% year-over-year. 2. The company experienced an operating loss of $1.9 million versus a profit of $6.8 million. 3. Adjusted EBITDA was $26.9 million, slightly less than $27.1 million last year. 4. Significant impairment loss of $24.2 million impacted financial results and operations. 5. Political advertising revenues increased significantly, but other segments faced declines.
The substantial operating loss and revenue decline indicate financial instability, historically resulting in negative market reactions.
The significant impairment losses and operational losses present crucial risks for investors, likely impacting stock price negatively.
Immediate market concerns over financial performance tend to influence stock price quickly, particularly with ongoing losses and declining revenues.
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 income 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 EBITDA 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.
Alfred 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."
| Net Revenue | 2024 | 2023 |
|---|---|---|
| Radio Advertising | $43,978 | $47,814 |
| Digital Advertising | $18,082 | $20,838 |
| Cable Television Advertising | $21,226 | $27,021 |
| Net Revenue | $117,127 | $120,344 |
| Net Revenue | 2024 | 2023 |
|---|---|---|
| Total Net Revenue | $449,674 | $477,690 |
Urban 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...