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Urban One, Inc. Reports Third Quarter 2026 Results

On November 10, 2026, Urban One, Inc. (NASDAQ: UONEK and UONE) announced its financial results for the third quarter ended September 30, 2026. The report unveiled net revenue for the quarter at approximately $88.0 million, marking a notable decrease of 5.0% compared to the same period in 2025. This decline has raised concerns among stakeholders, as the company also reported an operating loss of approximately $126.6 million, significantly down from an operating income of $2.5 million in Q3 2025.

The report illustrates various segments of Urban One's revenue, with mixed results. Notably, broadcast and digital operating income stood at approximately $19.4 million for Q3 2026, down from $19.9 million the previous year. The stark reality of the report displayed a net loss attributable to common stockholders, approximately $119.2 million, equivalent to $(26.39) per share, in stark contrast to a far lower net loss of $2.8 million or $(0.64) per share recorded in Q3 2025.

Challenges and Market Conditions

Alfred C. Liggins, III, the CEO of Urban One, commented on the adverse market conditions impacting radio revenue, acknowledging that they significantly influenced the overall revenue for the quarter. The organization attempted to mitigate these challenges with a net political revenue of over $0.8 million for the quarter and benefited from the acquisition of radio stations in Dallas effective July 17, 2026, which contributed an extra $1.9 million of net revenue.

However, the downturn in the Cable TV scatter market forced more inventory into the direct response category at lower rates, exacerbating the financial situation. Although there was an increase in local digital revenue in radio markets, major client attrition and suppressed rates in the national digital revenue led to a plunge in the overall digital segment revenue.

The company now estimates its revised Adjusted EBITDA for 2026 to be around $40.0 million, a realistic approach considering the current challenges in the advertising market. Management is now intensely focused on reducing operational costs, targeting at least $20.0 million of savings annually.

Financial Highlights

In terms of detailed financial results, the net revenue breakdown for Q3 2026 showed:

• - Radio Advertising: $38.1 million vs. $38.1 million in Q3 2025
• - Political Advertising: $843,000 vs. $201,000 in Q3 2025
• - Digital Advertising: $9.5 million vs. $12.7 million in Q3 2025
• - Cable Television Advertising: $21.4 million vs. $22.7 million in Q3 2025

Overall, these challenges resulted in operating expenses reaching approximately $214.6 million for the third quarter, with notable increases across several operational categories, most significantly due to new acquisitions and other fixed costs.

The situation regarding impairment also requires attention, as the firm recorded an impairment of $128.9 million related to its goodwill and intangible assets, signaling serious repercussions from the ongoing market turbulence in broadcasting.

Future Outlook

Though current results present a disheartening picture, Urban One continues to work proactively to adapt to the market changes. As discussed during the earnings call scheduled for November 10, 2026, management reiterated its resolve to steer the company towards better performance, leveraging its existing assets and engaging more with its core audience to enhance revenue streams moving forward.

In summary, while Urban One, Inc. faces considerable challenges reflected in its Q3 2026 results, the organization’s strategic responses may provide a basis for future recovery in a rapidly changing media landscape.