Urban One Reports Steep Q2 Loss And Revenue Decline

Urban One, Inc. posted a sharp second-quarter loss as lower advertising sales and substantial impairment charges weighed on results. For the quarter ended June 30, the Silver Spring, MD-based media company reported net revenue of $91.6 million, down 22% from $117.7 million a year earlier. The decline reflected weaker results across its core segments, including Radio Broadcasting, Reach Media, Digital, and Cable Television, with notable year-over-year drops in event revenues and political advertising.

Operating expenses jumped to $212.3 million from $178.2 million, driven largely by $130.1 million in impairment charges on goodwill and intangible assets, primarily related to its radio broadcasting licenses. The company recently shifted those licenses from indefinite-lived to finite-lived intangible assets, citing industry headwinds and ongoing declines in national and local radio listenership. This change also added new amortization expenses.

Urban One recorded an operating loss of $120.7 million, widening from $60.4 million in Q2 2024. The net loss attributable to common stockholders was $77.9 million, or $1.74 per share, compared to a $45.4 million loss, or $0.94 per share, in the prior-year quarter.

While the company benefited from a $30.3 million gain on retirement of debt, interest expense remained high at $9.7 million. A $21.4 million income tax benefit partially offset losses.

At June 30, 2025, Urban One had $85.7 million in cash and cash equivalents, down from $137.1 million at year-end. Long-term debt stood at $488.4 million, reflecting ongoing debt repurchases at discounts to par value.

The company, which operates 74 radio stations, cable networks TV One and CLEO TV, the Reach Media syndication arm, and the iONE Digital platform, said macroeconomic conditions, advertising market softness, and subscriber churn in its cable business remain ongoing challenges.