Urban One (UONE) Q3 2026 earnings summary

Executive summary

• Q3 net revenue was $88.0M, down 5.0% YoY; Adjusted EBITDA was $12.3M vs. $14.2M, down 13.6%.

• A $128.9M impairment drove a $126.6M operating loss; net loss was $119.2M, or $(26.39) per share, vs. $2.8M, or $(0.64), in Q3 2025.

Financial highlights

• Operating expenses excluding D&A, stock compensation and impairments were $78.2M, down 6.5% YoY, partly reflecting prior-year music license settlement costs.

• Impairments totaled $128.9M: $62.5M for radio licenses, $25.4M for the Radio Broadcasting reporting unit and $40.9M for Cable Television.

• Interest expense was $2.0M vs. $9.4M in Q3 2025, reflecting lower debt balances and effective rates; D&A was $6.6M vs. $6.1M.

• 9M revenue was $251.4M, down 9.1% YoY; Adjusted EBITDA was $28.6M vs. $41.0M, and common-stockholder net loss was $129.4M vs. $92.5M.

Outlook and guidance

• FY 2026 Adjusted EBITDA guidance was revised to $40.0M, reflecting current advertising-market conditions.

• FY 2026 net political revenue is expected to be $8.8M across divisions; radio political revenue is expected at $8.4M vs. an ~$11M budget, while Q3 political revenue exceeded $0.8M.

• At least $20.0M in annualized cost savings was identified, with reductions planned heading into 2027.