Urban One Inc. Reports Q3 2025 Financial Results

For the three months ending September 30, 2025, Urban One reported net revenue of approximately $92.7 million, a decline from $110.4 million in the same period of 2024. This decrease was primarily driven by weaker market demand from both national and local advertisers, coupled with a significant decline in political advertising revenue.

For the nine months ending September 30, 2025, total net revenue was approximately $276.5 million, down from $332.5 million in the prior year.

Urban One's operating expenses for the quarter included various costs such as employee salaries, programming costs, and marketing efforts. For Q3 2025, programming and technical expenses rose to approximately $34.7 million, up from $33.9 million in 2024, primarily due to increased music royalty expenses. Conversely, selling, general, and administrative expenses decreased to $49.0 million, down from $53.5 million, reflecting cost management efforts within the Radio Broadcasting segment and corporate headquarters.

For the nine months ended September 30, 2025, total operating expenses decreased to approximately $242.6 million compared to $269.0 million in 2024.

In terms of goodwill and intangible assets, Urban One did not recognize any impairment losses during the third quarter of 2025. However, the company recorded an impairment loss of approximately $136.5 million for the first nine months of 2025, compared to $127.6 million in the same period in 2024. This impairment primarily related to the Radio Broadcasting and iOne reporting units.

Interest and investment income for Q3 2025 amounted to approximately $0.5 million, down from $1.1 million in 2024, attributed to lower cash balances. Interest expenses also decreased to $9.4 million, down from $11.6 million, reflecting a reduction in overall debt balances.

Urban One reported a gain on the retirement of debt of approximately $2.1 million for Q3 2025, compared to $3.5 million in the previous year. The company repurchased approximately $4.5 million of its 2028 Notes during the quarter, further streamlining its financial obligations.

A significant change occurred in February 2025 when certain non-controlling interest shareholders of Reach Media exercised their annual Put Right. This led to an increase in Urban One's ownership interest in Reach Media to approximately 94.6%, reducing the non-controlling interest from 10.0% to 5.4%.

As of September 30, 2025, Urban One reported approximately $79.8 million in cash and cash equivalents, with no outstanding borrowings on its asset-backed credit facility. The company has actively managed its debt, including the repurchase of portions of its 2028 Notes, contributing to a net gain on retirement of debt.

Urban One Inc. faced significant challenges in Q3 2025, marked by a decline in revenue across multiple segments due to reduced advertiser demand and fluctuating political advertising revenues. Despite these challenges, the company is taking proactive steps to manage its expenses and enhance liquidity. The ongoing assessment of goodwill and intangible assets indicates a responsive approach to current market conditions and operational performance. Urban One continues to navigate a complex media landscape while striving to maximize its market presence through strategic initiatives and acquisitions.