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Urban One (UONE) investor relations material
Urban One Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net revenue was $92.7 million, down 16% year-over-year, with softness across all segments and lower political advertising revenue.
Operating income was $2.5 million, a turnaround from a $26.2 million loss in Q3 2024, aided by the absence of impairment charges and lower operating expenses.
Net loss for Q3 2025 was $2.8 million ($0.06 per share), compared to a $31.8 million ($0.68 per share) loss in Q3 2024.
Adjusted EBITDA was $14.2 million, down 44% year-over-year, reflecting lower revenues and higher amortization.
Cost-saving initiatives continued, with $3 million annualized savings in Q3 and $5 million earlier in the year.
Financial highlights
Q3 2025 net revenue: $92.7 million (down 16% year-over-year); nine months: $276.5 million (down 16.8%).
Q3 2025 operating expenses: $90.2 million (down 34% year-over-year); nine months: $392.6 million (down 3.4%).
Adjusted EBITDA for Q3 2025: $14.2 million (down from $25.4 million in Q3 2024); nine months: $41.0 million (down from $76.6 million in 2024).
Net loss for Q3 2025: $2.8 million; nine months: $92.5 million.
Significant impairment charges for the nine months ended September 30, 2025: $136.5 million, mainly related to radio broadcasting licenses and goodwill.
Outlook and guidance
Full-year Adjusted EBITDA guidance was reduced to $56–$58 million from $60 million, citing soft market conditions.
Management expects 2026 to be stronger due to the political cycle and operational changes, especially in radio and Reach Media.
Ongoing macroeconomic uncertainty, inflation, and interest rate pressures may continue to impact revenues.
Management expects cash flows and available liquidity to be sufficient for foreseeable requirements.
Radio segment pacing down 30.2% all-in and 6.4% excluding political for Q4 2025.
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