Urban One Q1 Revenue Drops 15.8% to $77.7M, Posts $2.2M Operating Loss
Urban One's Q1 net revenue fell 15.8% to $77.7 million, driving a $2.2 million operating loss versus $2.1 million operating income last year and a net loss of $3.1 million (–$0.69 per share). Adjusted EBITDA dropped to $4.7 million from $12.9 million as all divisions saw double-digit declines.
1. Q1 Financial Results
For the quarter ended March 31, net revenue declined 15.8% year-over-year to $77.7 million, resulting in an operating loss of $2.2 million compared with operating income of $2.1 million in Q1 2025. Net loss narrowed to $3.1 million, or $(0.69) per share, versus a $11.7 million loss, or $(2.64) per share, last year.
2. Segment Performance
Broadcast and digital operating income fell 35.4% to $14.9 million, with TV down 18.5%, digital down 33.5%, radio down 6.4% and Reach Media down 17.0%. Prime C3 ratings 25-54 rose 49.0% sequentially post-Nielsen DASH integration, but a weak scatter market forced lower-rate direct response units.
3. Debt Reduction and Cash Flow
Company repurchased $4.3 million of 2028 Notes at 51% of par and $55.9 million of 2031 Second Lien Notes at under 42% of par, reducing long-term debt by $60.2 million and saving $4.6 million in annual interest. Operating cash flow outperformed expectations after incentive receivables collection and prepayment of semi-annual interest.
4. Acquisitions and Guidance
Urban One acquired Dallas radio stations KKDA and KRNB, disposed of KZMJ, WLNK and WMXG, and incurred a net cash outflow of $11.1 million. Combined pro-forma Adjusted EBITDA contribution is estimated at $5.0 million annually, and 2026 Adjusted EBITDA guidance is revised to $60.0 million.