Urban One Inc. Reports Third Quarter 2025 Results: A Mixed Bag of Performance

For the third quarter of 2025, Urban One reported a net revenue of approximately $92.7 million, reflecting a significant decrease of 16.0% compared to the same period in 2024, where revenues stood at $110.4 million. Despite the decline in revenue, the company managed to turn around its operating income, reporting approximately $2.5 million for Q3 2025, a notable improvement from an operating loss of about $26.2 million in Q3 2024.

The net loss for the quarter was approximately $2.8 million, translating to a loss of $(0.06) per share, a substantial improvement from the net loss of $31.8 million or $(0.68) per share recorded in Q3 2024. Adjusted EBITDA also saw a decline, coming in at approximately $14.2 million, down from $25.4 million a year earlier.

Alfred C. Liggins, III, Urban One's CEO and President, highlighted that the third-quarter results were slightly softer than expected across the board. Core radio revenues, excluding political advertising, declined by 8.1%. The Radio segment is projected to face further challenges, with current pacing indicating a decline of 30.2% overall and 6.4% excluding political revenue for Q4 2025.

The company's Reach Media and Digital segments also reported declines of 40.0% and 30.0%, respectively, which fell on the lower end of expectations. Additionally, advertising revenues from the Cable TV segment were down by 5.4%, and affiliate revenue decreased by 9.1%, primarily due to ongoing subscriber churn.

In light of the soft overall market conditions, Urban One has adjusted its full-year guidance for Adjusted EBITDA, reducing it from an earlier projection of $60 million to a new range of $56 million to $58 million. Liggins emphasized the company's focus on controlling costs, managing debt, leverage, and liquidity as critical strategies moving forward.

During the third quarter, Urban One repurchased $4.5 million of its 2028 Notes at an average price of approximately 52.0% of par, successfully reducing its outstanding debt balance to $487.8 million.

The financial statement reveals key insights into the company's operations:

The company also reported a total debt of $484.3 million as of September 30, 2025, down from $579.1 million at the end of 2024.

Looking ahead, Urban One faces a challenging environment marked by declining revenues across multiple segments. The company’s proactive measures, including debt reduction and cost management, will be crucial as it aims to stabilize operations and return to a growth trajectory.

With the media landscape in flux, Urban One's ability to adapt and innovate will be vital in maintaining its market position and addressing the changing preferences of its audience. As the fourth quarter progresses, stakeholders will be keenly watching how the company navigates these challenges and implements its revised strategic framework.