Urban One, Inc. (NASDAQ:UONE) Q3 2023 Earnings Conference Call January 11, 2024 10:00 AM ET Company Participants Alfred Liggins - Chief Executive Officer Peter Thompson - Chief Financial Officer Karen Wishart - Chief Administrative Officer Kris Simpson - General Counsel Jody Drewer - Chief Financial Officer TV One Conference Call Participants Hal Steiner - BNP Paribas Operator Ladies and gentlemen, thank you for standing by. During this conference call, Urban One will be sharing with you certain projections ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Silver Spring, Maryland 20910 (Address of principal executive offices) (301) 429-3200 Registrant's telephone number, including area code Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer inc ...

Urban One, Inc. (NASDAQ:UONE) Q2 2023 Results Conference Call December 7, 2023 10:00 AM ET Company Participants Alfred C. Liggins - CEO Peter D. Thompson - CFO Jody Drewer - CFO, TV One Conference Call Participants Matt Swope - Baird Hal Steiner - BNP Paribas Operator Ladies and gentlemen, thank you for standing by and welcome to Urban One’s First Half 2023 Conference Call. During this conference call, Urban One will be sharing with you certain projections and other forward-looking statements regarding futu ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of pr ...

Financial Performance - Net revenue for the three months ended March 31, 2023, was approximately $109.9 million, a decrease of 2.0% from $112.1 million in the same period of 2022[204] - The company experienced a net loss of $2.9 million attributable to common stockholders in Q1 2023, compared to a net income of $16.5 million in Q1 2022, representing a decline of 117.7%[203] - Broadcast and digital operating income decreased to approximately $39.3 million for the three months ended March 31, 2023, down from approximately $48.4 million in 2022, a decrease of 18.8%[227] - Adjusted EBITDA decreased to approximately $30.3 million for the three months ended March 31, 2023, compared to approximately $42.0 million in 2022, a decrease of approximately 28.0%[229] Revenue Segments - The radio broadcasting segment generated $43.1 million in advertising revenue for Q1 2023, an increase of 10.2% compared to $39.1 million in Q1 2022[195] - The cable television segment reported a revenue decline to $49.7 million in Q1 2023 from $56.2 million in Q1 2022, a decrease of approximately 11.5%[206] - The Reach Media segment's revenue increased to approximately $10.9 million in Q1 2023, up from $10.0 million in Q1 2022, an increase of approximately 9.0%[205] - Digital segment revenue slightly decreased to $15.1 million in Q1 2023 from $15.5 million in Q1 2022, a decline of approximately 2.6%[207] Expenses - Programming and technical expenses increased by 18.7% to $33.9 million in Q1 2023, up from $28.5 million in Q1 2022[208] - Selling, general and administrative expenses rose to approximately $36.7 million in Q1 2023, an increase of 4.3% from $35.2 million in Q1 2022[211] - Corporate selling, general and administrative expenses decreased to approximately $8.5 million for the three months ended March 31, 2023, down from $9.4 million in the same period of 2022, representing a decrease of 9.4%[212] - Stock-based compensation expense increased to approximately $3.3 million for the three months ended March 31, 2023, compared to $0.1 million for the same period in 2022, marking an increase of approximately $3.2 million[213] - Depreciation and amortization expense rose to approximately $2.6 million for the three months ended March 31, 2023, up from approximately $2.4 million in 2022, an increase of 8.0%[215] Impairments and Gains - The company recognized a significant impairment of goodwill and intangible assets amounting to $16.8 million in Q1 2023[203] - Impairment of goodwill and intangible assets was approximately $16.8 million for the three months ended March 31, 2023, with no impairment recorded in the same period of 2022, indicating a 100% increase[216] - Gain on retirement of debt was approximately $2.4 million for the three months ended March 31, 2023, compared to $0.0 million in the same period of 2022, reflecting a 100% increase[218] Cash Flow and Investments - Cash, cash equivalents, and restricted cash totaled approximately $71.9 million as of March 31, 2023, with no borrowings outstanding on the Current ABL Facility[231] - Net cash flows provided by operating activities increased to $17.1 million in Q1 2023 from $15.5 million in Q1 2022, reflecting a growth of approximately 10.4%[246] - Net cash flows used in investing activities rose significantly to $21.5 million in Q1 2023 from $1.6 million in Q1 2022, primarily due to derecognition of $26.0 million of restricted cash[247] Debt and Obligations - The company repurchased approximately $25.0 million of its 2028 Notes at an average price of 89.1% of par during Q1 2023, resulting in a net gain on retirement of debt of approximately $2.4 million[238] - As of March 31, 2023, the company had approximately $725.0 million of its 2028 Notes outstanding[257] - The company has scheduled contractual obligations totaling $1,205.6 million, with $129.2 million due in the remainder of 2023[262] - The company’s total contractual obligations include $983.4 million related to 7.375% Subordinated Notes[262] Licensing and Agreements - The fair value of radio broadcasting licenses was approximately $163.4 million as of March 31, 2023, with a risk of impairment if financial performance continues to decline[251] - The company has a letter of credit reimbursement agreement with a capacity of up to $1.2 million, expiring on October 8, 2024[266] - The company’s radio broadcasting licenses expire at various times from October 2027 through August 1, 2030[256] - The company has arrangements with ASCAP, SESAC, and GMR for musical works rights, with a four-year license effective from April 1, 2022, to March 31, 2026[258] Other Financial Information - Other expense was approximately $0.3 million for the three months ended March 31, 2023, compared to other income of approximately $2.0 million in 2022, a decrease of 115.7%[219] - The company recorded a benefit from income taxes of approximately $1.2 million for the three months ended March 31, 2023, compared to a provision of approximately $5.5 million in 2022, a change of 121.2%[220] - The noncontrolling interest shareholders of Reach Media did not exercise their Put Right for the 30-day period ending January 31, 2023[261] - The company is not aware of any facts that would prevent the renewal of its current radio broadcasting licenses[256]

Urban One, Inc. (NASDAQ:UONE) Q4 2022 Earnings Conference Call July 7, 2023 10:00 AM ET Company Participants Alfred C. Liggins - CEO Peter D. Thompson - CFO Conference Call Participants Aaron Watts - Deutsche Bank Ben Briggs - StoneX Financial Incorporated Matt Swope - Baird Matthew Sandschafer - Mesirow Operator Ladies and gentlemen, thank you for standing by and welcome to Urban One's 2022 Year-end Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from to Commission File No. 0-25969 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delawar ...

Urban One, Inc. (NASDAQ:UONE) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET Company Participants Alfred Liggins - CEO, President, Treasurer & Director Peter Thompson - EVP & CFO Conference Call Participants Ben Briggs - StoneX Financial Inc Aaron Watts - Deutsche Bank Bradd Kern - Atalaya Capital Management George Michaels - Barclays Operator During this conference call, Urban One will be sharing with you certain projections or other forward-looking statements regarding future events or its ...

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q 14th Floor Silver Spring, Maryland 20910 (Address of principal executive offices) (301) 429-3200 Registrant's telephone number, including area code Securities registered pursuant to Section ...

For the quarterly period ended June 30, 2022 Commission File No. 0-25969 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of pr ...