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PR Newswire·

URBAN ONE, INC. REPORTS THIRD QUARTER 2026 RESULTS

UONEK
  • Urban One reported net revenue of $88.0 million for the three months ended September 30, 2026, representing a 5.0% decrease compared to the same period in 2025.
  • The Company recorded an operating loss of $126.6 million for the quarter, a significant shift from the operating income of $2.5 million reported in 2025.
  • Net loss attributable to common stockholders was $119.2 million, or $26.39 per share (basic), compared to a net loss of $2.8 million, or $0.64 per share, in the prior year period.
  • Adjusted EBITDA for the third quarter was $12.3 million, down from $14.2 million in the same period of 2025.
  • CEO Alfred C. Liggins, III cited adverse market conditions in radio as the primary driver for revenue declines, partially offset by $0.8 million in net political revenue.
  • Revenue growth was supported by the acquisition of Dallas market stations effective July 17, 2026, which contributed an additional $1.9 million in net revenue.
  • The Company revised its full-year 2026 Adjusted EBITDA guidance down to $40.0 million due to current advertising marketplace realities.
  • Management identified at least $20.0 million in potential annualized cost savings to be implemented heading into the next year.
  • The Digital segment saw a significant decline driven by large client attrition and suppressed rates, despite an increase in local digital revenue.
  • Cable Television revenue decreased due to weak demand in the scatter market, which shifted inventory to direct response categories at lower rates.
  • Impairment charges totaling $128.9 million were recorded, including $62.5 million for radio broadcasting licenses, $25.4 million for the Radio Broadcasting reporting unit, and $40.9 million for the Cable Television reporting unit.
  • The Company acquired Service Broadcasting Group for $22.0 million on July 17, 2026, and sold radio station KZMJ for $6.0 million on July 6, 2026, recognizing a $3.2 million gain on the sale.
  • Interest expense decreased to $2.0 million from $9.4 million in the prior year, driven by lower debt balances and effective interest rates.
  • Total long-term debt decreased to $399.5 million as of September 30, 2026, from $429.7 million at the end of 2025.
  • Stockholders' equity turned negative to $(102.9 million) as of September 30, 2026, compared to positive equity of $24.6 million at the end of 2025.
  • A 1-for-10 reverse stock split occurred on January 22, 2026, which was retroactively applied to share data in the financial statements.
  • Reach Media reached 100% ownership after paying approximately $1.3 million to extinguish the remaining non-controlling interest on February 25, 2026.
Company
Urban One, Inc.
Keywords
Urban One, Inc.