URBAN ONE INC
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
UONE$3.95-2.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
PART I. FINANCIAL INFORMATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| NET REVENUES | $110,393 | $117,825 | $332,547 | $357,346 |
| OPERATING EXPENSES: | ||||
| Programming and technical, including stock-based compensation of $9, $10, $23, and $80, respectively | 33,920 | 33,913 | 99,849 | 100,384 |
| Selling, general and administrative, including stock-based compensation of $181, $210, $500, and $523, respectively | 41,293 | 40,352 | 131,641 | 127,157 |
| Corporate selling, general and administrative, including stock-based compensation of $962, $1,998, $3,092, and $7,213, respectively | 13,316 | 12,416 | 41,125 | 37,546 |
| Depreciation and amortization | 1,238 | 1,808 | 6,081 | 6,291 |
| Impairment of goodwill, intangible assets, and long-lived assets | 46,823 | 85,448 | 127,581 | 124,304 |
| Total operating expenses | 136,590 | 173,937 | 406,277 | 395,682 |
| Operating loss | (26,197) | (56,112) | (73,730) | (38,336) |
| INTEREST INCOME | 1,088 | 2,256 | 4,863 | 4,488 |
| INTEREST EXPENSE | 11,649 | 13,983 | 37,051 | 42,023 |
| GAIN ON RETIREMENT OF DEBT | 3,472 | — | 18,771 | 2,356 |
| OTHER INCOME, NET | 74 | 75 | 974 | 96,535 |
| (Loss) income from consolidated operations before income taxes | (33,212) | (67,764) | (86,173) | 23,020 |
| (BENEFIT FROM) PROVISION FOR INCOME TAXES | (1,814) | (16,778) | (17,824) | 5,259 |
| NET (LOSS) INCOME CONSOLIDATED OPERATIONS | (31,398) | (50,986) | (68,349) | 17,761 |
| LOSS FROM UNCONSOLIDATED JOINT VENTURE | — | (2,728) | (411) | (2,728) |
| NET (LOSS) INCOME | (31,398) | (53,714) | (68,760) | 15,033 |
| NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 400 | 697 | 976 | 2,000 |
| NET (LOSS) INCOME TO COMMON STOCKHOLDERS | $(31,798) | $(54,411) | $(69,736) | $13,033 |
| NET (LOSS) INCOME TO COMMON STOCKHOLDERS (per share) | ||||
| Basic | $(0.68) | $(1.14) | $(1.43) | $0.27 |
| Diluted | $(0.68) | $(1.14) | $(1.43) | $0.26 |
| WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||
| Basic | 47,105,290 | 47,722,263 | 48,614,438 | 47,592,010 |
| Diluted | 47,105,290 | 47,722,263 | 48,614,438 | 50,358,881 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(In thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| NET (LOSS) INCOME | $(31,398) | $(53,714) | $(68,760) | $15,033 |
| Reclassification adjustment for realized gain on available-for-sale securities included in net income | — | — | — | (96,826) |
| Income tax provision related to reclassification for realized gain | — | — | — | 23,599 |
| OTHER COMPREHENSIVE , NET OF TAX | — | — | — | (73,227) |
| COMPREHENSIVE LOSS | $(31,398) | $(53,714) | $(68,760) | $(58,194) |
| LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS | 400 | 697 | 976 | 2,000 |
| COMPREHENSIVE LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $(31,798) | $(54,411) | $(69,736) | $(60,194) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.