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URBAN ONE, INC. REPORTS SECOND QUARTER 2025 RESULTS
SILVER SPRING, Md., Aug. 13, 2025
SILVER SPRING, Md., Aug. 13, 2025 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK and UONE) today reported its results for the three months ended June 30, 2025. For the three months ended June 30, 2025, net revenue was approximately $91.6 million, a decrease of 22.2% from the same period in 2024. The Company reported operating loss of approximately $120.7 million for the three months ended June 30, 2025, compared to operating loss of approximately $60.4 million for the three months ended June 30, 2024. Broadcast and digital operating income1 was approximately $25.7 million for the three months ended June 30, 2025, a decrease of 25.0% from the same period in 2024. Net loss was approximately $77.9 million or $(1.74) per share (basic) for the three months ended June 30, 2025 compared to net loss of $45.4 million or $(0.94) per share (basic) for the same period in 2024. Adjusted EBITDA2 was approximately $14.0 million for the three months ended June 30, 2025, compared to approximately $28.9 million for the same period in 2024.
Alfred C. Liggins, III, Urban One's CEO and President stated, "Second quarter results were impacted by weaker than expected performance in our Reach Media and Digital segments. Some of this is due to the timing of our annual Tom Joyner Fantastic Voyage, which generated $9.6 million of revenue in the second quarter of 2024 and will take place in fourth quarter this year. Additionally, client attrition and lower CPM's at Reach Media meant the segment was loss-making for the quarter. Our Digital business experienced a combination of lower advertising demand and reduced streaming CPM's compared to the second quarter of 2024. Core radio advertising finished down 11.8% excluding digital, as we continue to experience double-digit declines in national radio advertising demand. Core radio pacings for the third quarter are currently (8.3)% or (5.6)% excluding political, with local pacing flat year-over-year, so we are seeing some sequential improvement in radio. Cable TV advertising was down 4.2% and affiliate revenue was down 11.7% driven by continuing subscriber churn. Based on the broad economic headwinds being experienced, we are reducing our full year guidance to $60.0 million in Adjusted EBITDA2. In a challenging marketplace, our focus remains on controlling costs, managing leverage and retaining our strong liquidity position. During the second quarter of 2025, we repurchased $64.0 million of our 2028 Notes at an average price of approximately 51.8% of par, reducing our outstanding debt balance to $492.3 million."
| | Three Months Ended June 30, | | Six Months Ended June 30, | ||||
| | 2025 | | 2024 | | 2025 | | 2024 |
| | (unaudited) | | (unaudited) | ||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | (in thousands, except share data) | | (in thousands, except share data) | ||||
| NET REVENUE | $ 91,631 | | $ 117,744 | | $ 183,866 | | $ 222,154 |
| OPERATING EXPENSES | | | | | | | |
| Programming and technical, excluding stock-based compensation | 28,647 | | 33,256 | | 59,245 | | 65,915 |
| Selling, general and administrative, excluding stock-based compensation(a) | 49,493 | | 60,079 | | 99,598 | | 115,708 |
| Stock-based compensation | 574 | | 1,079 | | 1,250 | | 2,463 |
| Depreciation and amortization | 3,523 | | 2,993 | | 5,838 | | 4,843 |
| Impairment of goodwill and intangible assets | 130,078 | | 80,758 | | 136,521 | | 80,758 |
| Total operating expenses | 212,315 | | 178,165 | | 302,452 | | 269,687 |
| Operating loss | (120,684) | | (60,421) | | (118,586) | | (47,533) |
| INTEREST AND INVESTMENT INCOME | 616 | | 1,777 | | 1,582 | | 3,775 |
| INTEREST EXPENSE | (9,704) | | (12,404) | | (20,628) | | (25,402) |
| GAIN ON RETIREMENT OF DEBT | 30,297 | | 7,425 | | 41,884 | | 15,299 |
| OTHER INCOME, NET | 124 | | 14 | | 316 | | 900 |
| Loss from consolidated operations before benefit from income taxes | (99,351) | | (63,609) | | (95,432) | | (52,961) |
| BENEFIT FROM INCOME TAXES | 21,382 | | 18,512 | | 5,724 | | 16,010 |
| NET LOSS FROM CONSOLIDATED OPERATIONS | (77,969) | | (45,097) | | (89,708) | | (36,951) |
| LOSS FROM UNCONSOLIDATED JOINT VENTURE | — | | — | | — | | (411) |
| NET LOSS | (77,969) | | (45,097) | | (89,708) | | (37,362) |
| NET (LOSS) INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | (67) | | 334 | | (64) | | 576 |
| NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (77,902) | | $ (45,431) | | (89,644) | | (37,938) |
| | | | | | | | |
| Weighted-average shares outstanding - basic3 | 44,738,306 | | 48,483,639 | | 44,768,280 | | 48,434,513 |
| Weighted-average shares outstanding - diluted4 | 44,738,306 | | 48,483,639 | | 44,768,280 | | 48,434,513 |
| (a) Corporate selling, general and administrative expenses have been collapsed with Selling, general and administrative expenses in the consolidated statements of operations. |
Effective January 1, 2025, the Company modified the composition of two of our reportable segments to reflect changes in how they operate their business. The Company transferred the CTV offering within our Digital segment to our Cable Television segment. This change aligns the CTV offering with the results of operations within our Cable Television segment. Prior period Cable Television and Digital segment information has been reclassified to conform to the current period presentation. In addition, prior period segment information has been recast between the Sales and marketing and the General and administrative to conform the presentation of significant segment expenses used to evaluate performance by the Chief Operating Decision Maker ("CODM").
Detailed segment data for the three and six months ended June 30, 2025 and 2024 is presented in the following tables:
| | Three Months Ended June 30, 2025 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio | | Reach Media | | Digital | | Cable | | Corporate/ |
| NET REVENUE | $ 91,631 | | $ 36,693 | | $ 5,315 | | $ 10,254 | | $ 40,070 | | $ (701) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 28,647 | | 9,993 | | 3,178 | | 3,267 | | 12,372 | | (163) |
| Sales and marketing | 28,310 | | 13,389 | | 3,053 | | 6,572 | | 5,831 | | (535) |
| General and administrative | 21,183 | | 6,373 | | 735 | | 561 | | 3,811 | | 9,703 |
| Other segment income (expenses) | 469 | | — | | — | | — | | — | | 469 |
| Adjusted EBITDA2 | $ 13,960 | | $ 6,938 | | $ (1,651) | | $ (146) | | $ 18,056 | | $ (9,237) |
| | |||||||||||
| | Three Months Ended June 30, 2024 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio | | Reach Media | | Digital (a) | | Cable | | Corporate/ |
| NET REVENUE | $ 117,744 | | $ 41,999 | | $ 18,929 | | $ 14,072 | | $ 43,312 | | $ (568) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 33,256 | | 11,436 | | 3,641 | | 3,520 | | 14,913 | | (254) |
| Sales and marketing (b) | 39,601 | | 13,161 | | 11,046 | | 7,491 | | 8,308 | | (405) |
| General and administrative (b) | 20,479 | | 7,661 | | 793 | | 347 | | 4,158 | | 7,520 |
| Other segment income (expenses) | 4,514 | | (246) | | 8 | | — | | 89 | | 4,663 |
| Adjusted EBITDA2 | $ 28,922 | | $ 9,495 | | $ 3,457 | | $ 2,714 | | $ 16,022 | | $ (2,766) |
| | |||||||||||
| | Six Months Ended June 30, 2025 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio | | Reach Media | | Digital | | Cable | | Corporate/ |
| NET REVENUE | $ 183,866 | | $ 69,303 | | $ 11,168 | | $ 20,466 | | $ 84,263 | | $ (1,334) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 59,245 | | 21,286 | | 6,546 | | 6,454 | | 25,281 | | (322) |
| Sales and marketing | 57,386 | | 24,935 | | 5,178 | | 13,359 | | 14,927 | | (1,013) |
| General and administrative | 42,212 | | 13,423 | | 1,761 | | 745 | | 7,406 | | 18,877 |
| Other segment income (expenses) | 1,794 | | 127 | | 115 | | 4 | | (1) | | 1,549 |
| Adjusted EBITDA2 | $ 26,817 | | $ 9,786 | | $ (2,202) | | $ (88) | | $ 36,648 | | $ (17,327) |
| | |||||||||||
| | Six Months Ended June 30, 2024 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio | | Reach Media | | Digital (a) | | Cable | | Corporate/ |
| NET REVENUE | $ 222,154 | | $ 78,350 | | $ 27,401 | | $ 26,260 | | $ 91,317 | | $ (1,174) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 65,915 | | 22,765 | | 7,125 | | 7,023 | | 29,513 | | (511) |
| Sales and marketing (b) | 68,480 | | 24,555 | | 13,225 | | 13,195 | | 18,447 | | (942) |
| General and administrative (b) | 47,228 | | 15,727 | | 1,763 | | 981 | | 8,123 | | 20,634 |
| Other segment income (expenses) | 10,648 | | (174) | | (1) | | — | | 89 | | 10,734 |
| Adjusted EBITDA2 | $ 51,179 | | $ 15,129 | | $ 5,287 | | $ 5,061 | | $ 35,323 | | $ (9,621) |
| (a) Effective January 1, 2025, segment information for the prior periods has been recast to include reclassification of a portion of revenues from our CTV offering from the Digital segment to the Cable Television segment. |
| (b) Effective January 1, 2025, prior period segment information has been recast between Sales and marketing and General and administrative to conform the presentation of significant expenses used to evaluate performance by the CODM. |
| | Three Months Ended June 30, | | Six Months Ended June 30, | |||
| | 2025 | 2024 | | 2025 | | 2024 |
| PER SHARE DATA - basic and diluted: | (in thousands, except per share | | (in thousands, except per share | |||
| Net loss attributable to common stockholders (basic) | (1.74) | (0.94) | | (2.00) | | (0.78) |
| Net loss attributable to common stockholders (diluted) | (1.74) | (0.94) | | (2.00) | | (0.78) |
| | | | | | | |
| Broadcast and digital operating income | $ 25,664 | $ 34,196 | | $ 48,680 | | $ 66,210 |
| | | | | | | |
| Broadcast and digital operating income reconciliation: | | | | | | |
| Net loss attributable to common stockholders | $ (77,902) | $ (45,431) | | $ (89,644) | | $ (37,938) |
| Add back/(deduct) certain non-broadcast and digital operating income items included in net loss: | | | | | | |
| Interest and investment income | (616) | (1,777) | | (1,582) | | (3,775) |
| Interest expense | 9,704 | 12,404 | | 20,628 | | 25,402 |
| Benefit from income taxes | (21,382) | (18,512) | | (5,724) | | (16,010) |
| Corporate selling, general and administrative expenses, excluding stock-based compensation | 12,173 | 9,787 | | 23,657 | | 25,679 |
| Stock-based compensation | 574 | 1,079 | | 1,250 | | 2,463 |
| Gain on retirement of debt | (30,297) | (7,425) | | (41,884) | | (15,299) |
| Other income, net | (124) | (14) | | (316) | | (900) |
| Loss from unconsolidated joint venture | — | — | | — | | 411 |
| Depreciation and amortization | 3,523 | 2,993 | | 5,838 | | 4,843 |
| Net (loss) income attributable to non-controlling interests | (67) | 334 | | (64) | | 576 |
| Impairment of goodwill and intangible assets | 130,078 | 80,758 | | 136,521 | | 80,758 |
| Broadcast and digital operating income | $ 25,664 | $ 34,196 | | $ 48,680 | | $ 66,210 |
| | | | | | | |
| Adjusted EBITDA2 | $ 13,960 | $ 28,922 | | $ 26,817 | | $ 51,179 |
| | | | | | | |
| Adjusted EBITDA2 reconciliation: | | | | | | |
| Net loss attributable to common stockholders | $ (77,902) | $ (45,431) | | $ (89,644) | | $ (37,938) |
| Interest and investment income | (616) | (1,777) | | (1,582) | | (3,775) |
| Interest expense | 9,704 | 12,404 | | 20,628 | | 25,402 |
| Benefit from income taxes | (21,382) | (18,512) | | (5,724) | | (16,010) |
| Depreciation and amortization | 3,523 | 2,993 | | 5,838 | | 4,843 |
| EBITDA | $ (86,673) | $ (50,323) | | $ (70,484) | | $ (27,478) |
| Stock-based compensation | 574 | 1,079 | | 1,250 | | 2,463 |
| Gain on retirement of debt | (30,297) | (7,425) | | (41,884) | | (15,299) |
| Other income, net | (124) | (14) | | (316) | | (900) |
| Loss from unconsolidated joint venture | — | — | | — | | 411 |
| Net (loss) income attributable to non-controlling interests | (67) | 334 | | (64) | | 576 |
| Corporate costs(a) | 362 | 3,488 | | 1,109 | | 8,847 |
| Severance-related costs | — | 516 | | 219 | | 580 |
| Impairment of goodwill and intangible assets | 130,078 | 80,758 | | 136,521 | | 80,758 |
| Loss from ceased non-core businesses initiatives(b) | 107 | 509 | | 466 | | 1,221 |
| Adjusted EBITDA2 | $ 13,960 | $ 28,922 | | $ 26,817 | | $ 51,179 |
| (a)Corporate costs include professional fees related to the material weakness remediation efforts. |
| (b)In 2024, we made an immaterial change to the definition of Adjusted EBITDA2 by adding back the loss from ceased non-core operations. All historical periods were recast to reflect this immaterial change. |
| | June 30, 2025 | | December 31, |
| | (in thousands) | ||
| SELECTED CONSOLIDATED BALANCE SHEET DATA: | (Unaudited) | ||
| Cash and cash equivalents and restricted cash | $ 86,217 | | $ 137,574 |
| Intangible assets, net(a) | 345,524 | | 490,024 |
| Total assets | 729,227 | | 944,790 |
| Total debt (including current portion, net of issuance costs) | 488,396 | | 579,069 |
| Total liabilities | 644,468 | | 765,857 |
| Total stockholders' equity | 82,182 | | 170,945 |
| Redeemable non-controlling interests | 2,577 | | 7,988 |
| (a) Intangible assets, net include Goodwill, Radio Broadcasting Licenses, net, Other Intangible Assets, net, and Launch Assets. |
| | June 30, 2025 | | Applicable |
| SELECTED LEVERAGE DATA: | (in thousands) | | |
| 7.375% senior secured notes due February 2028, net of issuance costs of approximately $3.9 million (fixed rate) | $ 488,396 | | 7.375 % |
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management's current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One's control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One's reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the "SEC"). Urban One does not undertake any duty to update any forward-looking statements.
For the three months ended June 30, 2025, we recognized approximately $91.6 million in net revenue compared to approximately $117.7 million during the three months ended June 30, 2024. These amounts are net of agency commissions. We recognized approximately $36.7 million of revenue from our Radio Broadcasting segment during the three months ended June 30, 2025, compared to approximately $42.0 million for the three months ended June 30, 2024, a decrease of approximately $5.3 million, primarily driven by weaker overall market demand from the national advertisers and lower event revenues. We recognized approximately $5.3 million of revenue from our Reach Media segment during the three months ended June 30, 2025, compared to approximately $18.9 million for the three months ended June 30, 2024, a decrease of approximately $13.6 million. The decrease was primarily driven by the decrease in overall demand and the timing of the Fantastic Voyage cruise sailing that took place in May 2024. The 2025 Fantastic Voyage cruise is scheduled to take place in October 2025. We recognized approximately $10.3 million of revenue from our Digital segment during the three months ended June 30, 2025, compared to approximately $14.1 million during the three months ended June 30, 2024, a decrease of approximately $3.8 million. The decrease was primarily driven by the decrease in national digital sales and direct revenue streams. We recognized approximately $40.1 million of revenue from our Cable Television segment during the three months ended June 30, 2025, compared to approximately $43.3 million during the three months ended June 30, 2024, a decrease of approximately $3.2 million. The decrease was primarily driven by the churn of subscribers.
The following charts indicate the sources of our net revenues for the three months and year ended June 30, 2025:
| | Three Months Ended June 30, | | | | | ||
| | 2025 | | 2024 | | $ Change | | % Change |
| | | | | | | | |
| Net revenue: | (in thousands) | | | ||||
| Radio advertising | $ 38,627 | | $ 45,421 | | $ (6,794) | | (15.0) % |
| Political advertising | 254 | | 2,152 | | (1,898) | | (88.2) % |
| Digital advertising(a) | 10,241 | | 13,714 | | (3,473) | | (25.3) % |
| Cable Television advertising(a) | 22,977 | | 23,985 | | (1,008) | | (4.2) % |
| Cable Television affiliate fees | 17,061 | | 19,315 | | (2,254) | | (11.7) % |
| Event revenues & other | 2,471 | | 13,157 | | (10,686) | | (81.2) % |
| Net revenue | $ 91,631 | | $ 117,744 | | $ (26,113) | | (22.2) % |
| | | ||||||
| | Six Months Ended June 30, | | | | | ||
| | 2025 | | 2024 | | $ Change | | % Change |
| | | | | | | | |
| Net revenue: | (in thousands) | | | ||||
| Radio advertising | $ 74,844 | | $ 86,761 | | $ (11,917) | | (13.7) % |
| Political advertising | 404 | | 3,388 | | (2,984) | | (88.1) % |
| Digital advertising(a) | 20,452 | | 25,881 | | (5,429) | | (21.0) % |
| Cable Television advertising(a) | 48,402 | | 51,129 | | (2,727) | | (5.3) % |
| Cable Television affiliate fees | 35,778 | | 40,103 | | (4,325) | | (10.8) % |
| Event revenues & other | 3,986 | | 14,892 | | (10,906) | | (73.2) % |
| Net revenue (as reported) | $ 183,866 | | $ 222,154 | | $ (38,288) | | (17.2) % |
| (a) Effective January 1, 2025, segment information for the prior periods has been recast to include reclassification of a portion of revenues from our CTV offering from the Digital segment to the Cable Television segment. |
Operating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill and intangible assets, were approximately $78.1 million for the three months ended June 30, 2025, compared to approximately $93.3 million for the comparable period in 2024. The overall decrease in operating expenses was primarily due to lower expenses across most segments and lower third-party professional fees.
Impairment of goodwill and intangible assets was approximately $130.1 million during the three months ended June 30, 2025, compared to $80.8 million for the three months ended June 30, 2024. The impairment loss of $130.1 million during the three months ended June 30, 2025 was driven by approximately $121.3 million of impairment of radio broadcasting licenses within the Radio Broadcasting segment, impairment loss of $4.9 million within the Digital reporting unit, and impairment loss of $3.9 million in the Radio Broadcasting reporting units. The primary factors leading to the impairment was a continued decline of projected gross market revenues and a decline in operating profit margin. Due to industry and macro-economic conditions along with ongoing declines in national and local radio listenership, the Company reassessed the useful life of our Radio Broadcasting licenses. On June 1, 2025, the Company prospectively changed the useful life of these broadcasting licenses from indefinite-lived to finite-lived intangible assets and recorded amortization expense of $1.3 million for the three months ended June 30, 2025.
Depreciation and amortization expense was approximately $3.5 million for the three months ended June 30, 2025, compared to approximately $3.0 million for the three months ended June 30, 2024, an increase of approximately $0.5 million due to the TV One Trade Name amortization and radio broadcasting license amortization as a result of the Company's change from indefinite-lived to a finite-lived intangible asset, offset by additional depreciation on leasehold improvements during the three months ended June 30, 2024.
Interest and investment income was approximately $0.6 million for the three months ended June 30, 2025, compared to approximately $1.8 million for the three months ended June 30, 2024. The decrease was driven by lower cash and cash equivalents balances during the three months ended June 30, 2025, than in the corresponding period in 2024.
Interest expense was approximately $9.7 million for the three months ended June 30, 2025, compared to approximately $12.4 million for the three months ended June 30, 2024, a decrease of approximately $2.7 million. During the three months ended June 30, 2025, the Company repurchased approximately $64.0 million of its 2028 Notes at a weighted average price of approximately 51.8% of par, resulting in a net gain on retirement of debt of approximately $30.3 million.
For the three months ended June 30, 2025, we recorded a benefit from income taxes of approximately $21.4 million on the pre-tax loss of approximately $99.4 million resulting with an annual effective tax rate of 21.5%. This rate includes $6.4 million of discrete tax expense related to the change of accounting estimate for radio broadcasting licenses that impacted our valuation allowance. For the three months ended June 30, 2024, we recorded a benefit from income taxes of approximately $18.5 million on pre-tax loss of approximately $63.6 million resulting with an annual effective tax rate of 29.1%. This rate includes $0.1 million of discrete tax benefits primarily related to deferred rate changes.
Other pertinent financial information includes capital expenditures of approximately $1.2 million and $2.2 million for the three months ended June 30, 2025 and 2024, respectively.
During the three months ended June 30, 2025, the Company repurchased 226,041 shares of Class A Common Stock of approximately $0.4 million at an average price of $1.63 per share. During the three months ended June 30, 2025, the Company repurchased 200,549 shares of Class D Common Stock in the amount of approximately $0.1 million at an average price of $0.59 per share. During the three months ended June 30, 2024, the Company repurchased 449,277 shares of Class A Common Stock in the amount of approximately $0.9 million at an average price of $2.06 per share and repurchased 113,283 shares of Class D Common Stock in the amount of approximately $0.2 million at an average price of $1.57 per share.
Supplemental Financial Information:
For comparative purposes, the following more detailed statements of operations for the three months June 30, 2025 are included.
| | Three Months Ended June 30, 2025 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio Broadcasting | | Reach Media | | Digital | | Cable Television | | All Other - Corporate/ Eliminations |
| NET REVENUE | $ 91,631 | | $ 36,693 | | $ 5,315 | | $ 10,254 | | $ 40,070 | | $ (701) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 28,647 | | 9,993 | | 3,178 | | 3,267 | | 12,372 | | (163) |
| Selling, general and administrative (a) | 49,493 | | 19,762 | | 3,788 | | 7,133 | | 9,642 | | 9,168 |
| Stock-based compensation | 574 | | 133 | | 23 | | 73 | | 201 | | 144 |
| Depreciation and amortization | 3,523 | | 2,278 | | 33 | | 393 | | 675 | | 144 |
| Impairment of goodwill and intangible assets | 130,078 | | 125,187 | | — | | 4,891 | | — | | — |
| Total operating expenses | 212,315 | | 157,353 | | 7,022 | | 15,757 | | 22,890 | | 9,293 |
| Operating (loss) income | (120,684) | | (120,660) | | (1,707) | | (5,503) | | 17,180 | | (9,994) |
| INTEREST AND INVESTMENT INCOME | 616 | | — | | — | | — | | — | | 616 |
| INTEREST EXPENSE | (9,704) | | (2) | | (145) | | — | | — | | (9,557) |
| GAIN ON RETIREMENT OF DEBT | 30,297 | | — | | — | | — | | — | | 30,297 |
| OTHER INCOME, NET | 124 | | 108 | | — | | — | | — | | 16 |
| (Loss) income from consolidated operations before benefit from (provision for) income taxes | (99,351) | | (120,554) | | (1,852) | | (5,503) | | 17,180 | | 11,378 |
| BENEFIT FROM (PROVISION FOR) INCOME TAXES | 21,382 | | 28,579 | | 13 | | 1,792 | | (3,693) | | (5,309) |
| NET (LOSS) INCOME | (77,969) | | (91,975) | | (1,839) | | (3,711) | | 13,487 | | 6,069 |
| NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | (67) | | — | | (67) | | — | | — | | — |
| NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (77,902) | | $ (91,975) | | $ (1,772) | | $ (3,711) | | $ 13,487 | | $ 6,069 |
| Adjusted EBITDA2 | $ 13,960 | | $ 6,938 | | $ (1,651) | | $ (146) | | $ 18,056 | | $ (9,237) |
| (a) Corporate selling, general and administrative expenses have been collapsed with Selling, general and administrative expenses in the consolidated statements of operations. |
| | Three Months Ended June 30, 2024 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio Broadcasting | | Reach Media | | Digital (a) | | Cable Television (a) | | All Other - Corporate/ Eliminations |
| NET REVENUE | $ 117,744 | | $ 41,999 | | $ 18,929 | | $ 14,072 | | $ 43,312 | | $ (568) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 33,256 | | 11,436 | | 3,641 | | 3,520 | | 14,913 | | (254) |
| Selling, general and administrative (b, c) | 60,079 | | 20,822 | | 11,839 | | 7,838 | | 12,466 | | 7,114 |
| Stock-based compensation | 1,079 | | 115 | | 21 | | 41 | | 228 | | 674 |
| Depreciation and amortization | 2,993 | | 2,079 | | 40 | | 397 | | 176 | | 301 |
| Impairment of goodwill and intangible assets | 80,758 | | 80,758 | | — | | — | | — | | — |
| Total operating expenses | 178,165 | | 115,210 | | 15,541 | | 11,796 | | 27,783 | | 7,835 |
| Operating (loss) income | (60,421) | | (73,211) | | 3,388 | | 2,276 | | 15,529 | | (8,403) |
| INTEREST AND INVESTMENT INCOME | 1,777 | | — | | — | | — | | — | | 1,777 |
| INTEREST EXPENSE | (12,404) | | (58) | | — | | — | | — | | (12,346) |
| GAIN ON RETIREMENT OF DEBT | 7,425 | | — | | — | | — | | — | | 7,425 |
| OTHER INCOME, NET | 14 | | 1 | | — | | — | | — | | 13 |
| (Loss) income from consolidated operations before benefit from (provision for) income taxes | (63,609) | | (73,268) | | 3,388 | | 2,276 | | 15,529 | | (11,534) |
| BENEFIT FROM (PROVISION FOR) INCOME TAXES | 18,512 | | 18,057 | | (624) | | 652 | | (2,766) | | 3,193 |
| NET (LOSS) INCOME | (45,097) | | (55,211) | | 2,764 | | 2,928 | | 12,763 | | (8,341) |
| NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 334 | | — | | — | | — | | — | | 334 |
| NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (45,431) | | $ (55,211) | | $ 2,764 | | $ 2,928 | | $ 12,763 | | $ (8,675) |
| Adjusted EBITDA2 | $ 28,922 | | $ 9,495 | | $ 3,457 | | $ 2,714 | | $ 16,022 | | $ (2,766) |
| (a) Effective January 1, 2025, segment information for the prior periods has been recast to include reclassification of a portion of revenues from our CTV offering from Digital to Cable Television. |
| (b) Corporate selling, general and administrative expenses have been collapsed with Selling, general and administrative expenses in the consolidated statements of operations. |
| (c) Effective January 1, 2025, prior period segment information has been realigned between the Sales and marketing and the General and administrative significant segment expenses in this Quarterly Report on Form 10-Q. This provides the CODM with a more appropriate alignment of significant segment expenses used to evaluate segment performance. |
| | Six Months Ended June 30, 2025 | ||||||||||
| | (in thousands) | ||||||||||
| | Consolidated | | Radio Broadcasting | | Reach Media | | Digital | | Cable Television | | All Other - Corporate/ Eliminations |
| NET REVENUE | $ 183,866 | | $ 69,303 | | $ 11,168 | | $ 20,466 | | $ 84,263 | | $ (1,334) |
| OPERATING EXPENSES: | | | | | | | | | | | |
| Programming and technical | 59,245 | | 21,286 | | 6,546 | | 6,454 | | 25,281 | | (322) |
| Selling, general and administrative (a) | 99,598 | | 38,358 | | 6,939 | | 14,104 | | 22,333 | | 17,864 |
| Stock-based compensation | 1,250 | | 241 | | 46 | | 158 | | 489 | | 316 |
| Depreciation and amortization | 5,838 | | 3,274 | | 67 | | 779 | | 1,390 | | 328 |
| Impairment of goodwill and intangible assets | 136,521 | | 131,630 | | — | | 4,891 | | — | | — |
| Total operating expenses | 302,452 Für dich aus unserer Redaktion zusammengestelltHinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Weitere Artikel des AutorsThemen im Trend | ||||||||||