Urban One (UONE) Q2 2025 earnings summary

Executive summary

• Net revenue for Q2 2025 was $91.6 million, down 22.2% year-over-year, with all segments except Cable Television experiencing declines.

• Net loss attributable to common stockholders increased to $77.9 million from $45.4 million in Q2 2024.

• Operating loss widened to $120.7 million from $60.4 million year-over-year, driven by significant impairment charges.

• Adjusted EBITDA for Q2 2025 was $14.0 million, a 51.7% decrease from $28.9 million in Q2 2024.

• Results were impacted by timing of the Tom Joyner cruise, lower advertising demand, and continued declines in national radio advertising.

Financial highlights

• Consolidated net revenue was $91.6 million for Q2 2025, down 22.2% year-over-year.

• Net loss per share was $(1.74) for Q2 2025, compared to $(0.94) in Q2 2024.

• Impairment of goodwill and intangible assets was $130.1 million in Q2 2025.

• Interest expense decreased to $9.7 million from $12.4 million year-over-year.

• Cash and cash equivalents at June 30, 2025, were $86.2 million.

Outlook and guidance

• Full-year 2025 Adjusted EBITDA guidance reduced to $60.0 million due to industry headwinds and event timing.

• Management notes ongoing macroeconomic uncertainty, inflation, and interest rate increases as potential headwinds.

• Majority of cost-cutting impact expected in 2026; Q4 may see $1–2 million benefit, but not enough to change guidance.

• Cash flows from operations and available liquidity are expected to be sufficient for foreseeable requirements.

• Projected year-end cash balance of $95 million if no further debt buybacks occur.