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 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 ...

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 ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The company reported a Q1 2023 net loss of $2.4 million, a significant downturn from a $17.1 million net income in Q1 2022, driven by a $16.8 million impairment charge and lower cable television revenue [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) A 2.0% decrease in net revenue and a $16.8 million impairment charge caused operating income to fall sharply to $8.1 million from $36.5 million year-over-year Consolidated Statements of Operations (Q1 2023 vs Q1 2022) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 (As Revised) | | :--- | :--- | :--- | | **Net Revenue** | $109,869 | $112,131 | | **Operating Income** | $8,120 | $36,461 | | **Net (Loss) Income** | $(2,411) | $17,114 | | **Net (Loss) Income Attributable to Common Stockholders** | $(2,922) | $16,488 | | **Diluted (Loss) Income Per Share** | $(0.06) | $0.30 | - A significant impairment charge of **$16.8 million** was recorded in Q1 2023, which was not present in Q1 2022, heavily impacting operating income[20](index=20&type=chunk) [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to $1.28 billion from $1.34 billion, primarily due to lower cash and the reclassification of assets to held for sale Balance Sheet Summary | Metric | March 31, 2023 (Unaudited) | December 31, 2022 (As Revised) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $71,455 | $75,404 | | **Total Current Assets** | $258,739 | $295,406 | | **Total Assets** | $1,284,471 | $1,344,646 | | **Total Current Liabilities** | $112,596 | $132,818 | | **Long-Term Debt, net** | $714,780 | $739,000 | | **Total Liabilities** | $927,778 | $981,973 | | **Total Stockholders' Equity** | $331,577 | $330,750 | - Assets held for sale of **$9.9 million** were newly classified on the balance sheet as of March 31, 2023, related to the planned divestiture of the KROI-FM radio station[25](index=25&type=chunk)[117](index=117&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $17.1 million, while investing and financing activities used $21.4 million and $25.6 million respectively, resulting in a net cash decrease Cash Flow Summary (Q1 2023 vs Q1 2022) | Metric | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 (As Revised) | | :--- | :--- | :--- | | **Net cash flows provided by operating activities** | $17,104 | $15,456 | | **Net cash flows used in investing activities** | $(21,446) | $(1,576) | | **Net cash flows (used in) provided by financing activities** | $(25,606) | $268 | | **(Decrease) Increase in Cash and Cash Equivalents** | $(29,948) | $14,148 | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key notes cover the revision of 2022 financials, a $16.8 million impairment charge, debt repurchases, and significant subsequent events including a major asset sale and a Nasdaq delisting notice - The company is a multi-media entity targeting African-American and urban consumers, with four reportable segments: radio broadcasting, Reach Media, digital, and cable television[32](index=32&type=chunk)[34](index=34&type=chunk) - Immaterial accounting errors related to stock-based compensation and the RVAEH joint venture necessitated a revision of previously issued financial statements for 2022[11](index=11&type=chunk)[39](index=39&type=chunk) - The company recorded a **$16.8 million impairment charge** related to the KROI-FM radio broadcasting license, which was classified as held for sale[117](index=117&type=chunk)[123](index=123&type=chunk) - In Q1 2023, the company repurchased **$25.0 million** of its 7.375% Senior Secured Notes due 2028, resulting in a gain on retirement of debt of approximately **$2.4 million**[129](index=129&type=chunk) - Subsequent to quarter-end, the company sold its investment in MGM National Harbor for approximately **$136.8 million** in April 2023[98](index=98&type=chunk)[176](index=176&type=chunk) - The company received a Staff Delisting Determination from Nasdaq due to delays in filing its periodic reports, with a hearing scheduled for November 30, 2023[181](index=181&type=chunk)[182](index=182&type=chunk) - A second referendum for the Richmond casino project was defeated, and **$26 million** in escrowed funds are expected to be returned to the joint venture[189](index=189&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=54&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 2.0% revenue decline driven by the cable TV segment, a 77.7% drop in operating income due to a large impairment, and a significant post-quarter liquidity event [Results of Operations](index=56&type=section&id=Results%20of%20Operations) Net revenue decreased by 2.0% to $109.9 million, as a $6.5 million decline in the cable television segment offset a $3.7 million increase in radio broadcasting Net Revenue by Source (Q1 2023 vs Q1 2022) | Revenue Source | 2023 (In thousands) | 2022 (In thousands) | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Radio advertising | $43,108 | $39,127 | $3,981 | 10.2% | | Digital advertising | $15,024 | $15,482 | $(458) | (3.0)% | | Cable television advertising | $25,822 | $30,414 | $(4,592) | (15.1)% | | Cable television affiliate fees | $23,837 | $25,752 | $(1,915) | (7.4)% | | **Total Net Revenue** | **$109,869** | **$112,131** | **$(2,262)** | **(2.0)%** | - The radio broadcasting segment revenue grew by **$3.7 million**, aided by the 2022 acquisition of three stations in Indianapolis and growth in the Atlanta market[204](index=204&type=chunk) - The cable television segment revenue fell by **$6.5 million** due to lower ratings, a decrease in advertising sales, and lower affiliate fees[206](index=206&type=chunk) - A **$16.8 million impairment charge** was recognized for the KROI-FM radio license, which is being sold[216](index=216&type=chunk) - Interest expense decreased by **$1.9 million** due to the repurchase of $100 million of the company's 2028 Notes since Q2 2022[217](index=217&type=chunk) [Non-GAAP Financial Measures](index=61&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA fell 27.9% to $30.3 million, and Broadcast and digital operating income decreased 18.8% to $39.3 million, reflecting weaker segment performance Non-GAAP Performance Summary (Q1 2023 vs Q1 2022) | Metric (In thousands) | 2023 | 2022 | | :--- | :--- | :--- | | Broadcast and digital operating income | $39,300 | $48,403 | | Adjusted EBITDA | $30,285 | $42,004 | - The decrease in Broadcast and digital operating income was primarily due to lower net revenues and higher programming expenses in the cable television segment[227](index=227&type=chunk) [Liquidity and Capital Resources](index=65&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is supported by a $71.9 million cash balance and an undrawn ABL facility, significantly boosted post-quarter by a $136.8 million asset sale - Cash, cash equivalents and restricted cash totaled **$71.9 million** as of March 31, 2023[231](index=231&type=chunk) - The company had **$725.0 million** of its 7.375% 2028 Notes outstanding as of March 31, 2023, after repurchasing $25.0 million during the quarter[238](index=238&type=chunk) - In April 2023, after the quarter ended, the company received approximately **$136.8 million** from the sale of its Put Interest in MGM National Harbor[235](index=235&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=70&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not required for smaller reporting companies, and therefore no information is provided - Disclosure is not required for smaller reporting companies[267](index=267&type=chunk) [Controls and Procedures](index=70&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were not effective as of March 31, 2023, due to identified material weaknesses in internal control - The CEO and CFO concluded that **disclosure controls and procedures were not effective** as of March 31, 2023[270](index=270&type=chunk) - **Material weaknesses** were identified in the control environment and control activities, including IT general controls, segregation of duties, and review controls over key accounts[272](index=272&type=chunk)[274](index=274&type=chunk) - Remediation efforts are underway, including hiring a Corporate Controller and Senior VP-Finance, engaging external experts, and redesigning controls[275](index=275&type=chunk)[279](index=279&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=74&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine legal proceedings not expected to have a material adverse effect on its financial condition - The company believes the resolution of current routine legal matters will not have a material adverse effect on its business[279](index=279&type=chunk) [Risk Factors](index=76&type=section&id=Item%201A.%20Risk%20Factors) The primary risk is the potential delisting from Nasdaq due to delayed SEC filings, which could harm stock liquidity and the ability to raise capital - The company is **not in compliance with Nasdaq Listing Rule 5250(c)(1)** for timely filing of periodic reports, which has resulted in a delisting notice[282](index=282&type=chunk) - A hearing before a Nasdaq Hearings Panel is scheduled for November 30, 2023, and a stay on delisting is in effect through the hearing[282](index=282&type=chunk) - Potential consequences of delisting include adverse effects on stock liquidity and price, reduced investor interest, and impaired ability to raise capital[283](index=283&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=78&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the period - None[285](index=285&type=chunk) [Defaults Upon Senior Securities](index=78&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[286](index=286&type=chunk) [Mine Safety Disclosures](index=78&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[287](index=287&type=chunk) [Other Information](index=78&type=section&id=Item%205.%20Other%20Information) There is no other information to report for this item - None[288](index=288&type=chunk) [Exhibits](index=78&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including Sarbanes-Oxley certifications and Inline XBRL data - Exhibits include Section 302 and 906 certifications for the CEO and CFO, and the Inline XBRL data file[288](index=288&type=chunk)

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) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Mary ...

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, 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.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address ...

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, 2022 Delaware 52-1166660 Commission File No. 0-25969 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of principal executive offices) (301) 429-3200 URBAN ONE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorpora ...

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 March 31, 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.) Delaware 52-1166660 1010 Wayne Avenue, 14th Floor Silver Spring, Maryland 20910 (Address of p ...

PART I [Business](index=8&type=section&id=Item%201.%20Business) Urban One, Inc. is a diversified multi-media company primarily targeting African-American and urban consumers - Urban One is a multi-media company targeting African-American and urban consumers through four main segments: radio broadcasting, cable television, syndicated radio (Reach Media), and digital platforms[19](index=19&type=chunk)[31](index=31&type=chunk) - The COVID-19 pandemic negatively impacted revenues by causing advertisers to reduce spending, altering radio listening habits due to changes in work commutes, and leading to the cancellation of special events[21](index=21&type=chunk) - In January 2021, the company completed a major debt restructuring, issuing **$825 million** in **7.375% Senior Secured Notes due 2028** to refinance and consolidate multiple existing credit facilities and notes[27](index=27&type=chunk)[28](index=28&type=chunk)[30](index=30&type=chunk) - The company completed an asset exchange with Audacy, Inc. in April 2021, acquiring several stations in Charlotte while divesting stations in St Louis, Philadelphia, and Washington, DC[25](index=25&type=chunk) Radio Station Portfolio Overview (as of Dec 31, 2021) | Market | Number of Stations* | Urban One Audience Share (12+) | Market Rank by African-American Population | | :--- | :--- | :--- | :--- | | Atlanta | 5 | 12.3% | 2 | | Washington, DC | 6 | 10.8% | 3 | | Houston | 4 | 9.5% | 6 | | Baltimore | 5 | 14.9% | 11 | | Charlotte | 7 | 18.6% | 12 | | Richmond | 6 | 18.1% | 23 | | *Total Stations Owned/Operated* | *64* | | | - The company's business is subject to extensive regulation by the Federal Communications Commission (FCC), which governs licensing, ownership, programming, and operations[55](index=55&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from public health crises, economic volatility, intense competition, high leverage, and extensive FCC regulation - Public health crises, such as the COVID-19 pandemic, can significantly disrupt business operations and reduce advertising demand from consumer-focused companies[95](index=95&type=chunk) - A disproportionate share of radio revenue is concentrated in **four markets** (Houston, Washington, DC, Atlanta, Baltimore) and the Reach Media segment, making the company vulnerable to adverse conditions in these specific areas[109](index=109&type=chunk) - The company faces intense competition for audiences and advertising revenue from other radio stations, television, satellite radio, and a wide range of digital platforms, including social media and streaming services[110](index=110&type=chunk) - The business is dependent on maintaining FCC licenses, and failure to comply with FCC rules on indecency, ownership, and other matters could result in fines or loss of license[126](index=126&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk) - Future impairment charges on the carrying values of FCC licenses and goodwill, which represent a **significant portion of total assets**, could adversely impact financial results[122](index=122&type=chunk)[123](index=123&type=chunk) - The company's Chairperson and CEO together hold over **75% of the voting power**, making Urban One a "controlled company" under NASDAQ rules and giving them control over management and corporate decisions[154](index=154&type=chunk)[155](index=155&type=chunk) [Unresolved Staff Comments](index=56&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - None[157](index=157&type=chunk) [Properties](index=58&type=section&id=Item%202.%20Properties) The company's properties consist of offices, studios, and transmitter/antenna sites required for its media operations - The company typically leases its studio, office, and main transmitter/antenna sites, with lease terms generally ranging from **five to 10 years**[159](index=159&type=chunk) - Substantially all equipment, including transmitters and studio equipment, is owned by the company and is generally in good condition[160](index=160&type=chunk) [Legal Proceedings](index=58&type=section&id=Item%203.%20Legal%20Proceedings) Urban One is involved in routine legal and administrative proceedings incidental to its business - The company is involved in various routine legal proceedings but does not expect them to have a **material adverse effect** on its business[161](index=161&type=chunk) [Mine Safety Disclosure](index=58&type=section&id=Item%204.%20Mine%20Safety%20Disclosure) This item is not applicable to the company - Not applicable[162](index=162&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=58&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's Class A (UONE) and Class D (UONEK) common stock are traded on the NASDAQ Stock Market - The company's Class A (UONE) and Class D (UONEK) common stocks are traded on the NASDAQ Stock Market[164](index=164&type=chunk)[166](index=166&type=chunk) Quarterly Stock Price Range (Class A - UONE) | Period | High ($) | Low ($) | | :--- | :--- | :--- | | **2021** | | | | Q1 | 8.87 | 4.16 | | Q2 | 20.95 | 4.56 | | Q3 | 9.01 | 6.40 | | Q4 | 11.43 | 4.47 | | **2020** | | | | Q2 | 36.30 | 1.06 | - The company has not declared any cash dividends on its common stock since its public offering in **1999** and does not plan to in the foreseeable future[169](index=169&type=chunk) [Selected Financial Data](index=60&type=section&id=Item%206.%20Selected%20Financial%20Data) This section is not required for smaller reporting companies - Not required for smaller reporting companies[170](index=170&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=60&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Consolidated net revenue increased to $441.5 million in 2021, yielding net income of $38.4 million and adjusted EBITDA of $150.2 million Summary of Performance (2021 vs. 2020) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Net Revenue | $441.5M | $376.3M | | Broadcast and digital operating income | $179.2M | $163.9M | | Adjusted EBITDA | $150.2M | $138.0M | | Net income (loss) attributable to common stockholders | $38.4M | ($8.1M) | - Consolidated net revenue increased by **17.3%** in 2021 compared to 2020, primarily due to the mitigation of COVID-19's economic impacts and increased demand for minority-focused media[199](index=199&type=chunk) - In January 2021, the company completed a major debt refinancing by issuing **$825 million** in **7.375% Senior Secured Notes due 2028**, using the proceeds to repay and terminate multiple existing credit facilities and notes[223](index=223&type=chunk)[224](index=224&type=chunk) - Critical accounting policies involve the valuation of goodwill and radio broadcasting licenses, which totaled **$728.6 million** (**57.8% of total assets**) at year-end 2021. No impairment was recorded in 2021, but an **$84.4 million impairment charge** was taken in 2020[243](index=243&type=chunk) [Quantitative and Qualitative Disclosure About Market Risk](index=107&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosure%20About%20Market%20Risk) This section is not required for smaller reporting companies - Not required for smaller reporting companies[306](index=306&type=chunk) [Financial Statements and Supplementary Data](index=107&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the consolidated financial statements for 2021 and 2020, including balance sheets, income statements, and cash flows - The auditor, BDO USA, LLP, issued an **unqualified opinion** on the consolidated financial statements and on the effectiveness of the company's internal control over financial reporting as of December 31, 2021[341](index=341&type=chunk)[348](index=348&type=chunk)[349](index=349&type=chunk) - Critical Audit Matters identified by the auditor relate to the valuation of radio broadcasting licenses and the radio goodwill impairment assessment, due to the subjective and complex judgments involved in estimating their fair values[353](index=353&type=chunk)[356](index=356&type=chunk)[358](index=358&type=chunk) [Consolidated Balance Sheets](index=125&type=section&id=Consolidated%20Balance%20Sheets) As of December 31, 2021, total assets were $1.26 billion, with cash at $132.2 million and total liabilities at $990.0 million Consolidated Balance Sheet Highlights (as of Dec 31) | Account | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $132,245 | $73,385 | | Goodwill | $223,402 | $223,402 | | Radio Broadcasting Licenses | $505,148 | $484,066 | | **Total Assets** | **$1,261,108** | **$1,195,487** | | **Liabilities & Equity** | | | | Total current liabilities | $106,471 | $106,909 | | Long-term debt, net | $818,616 | $818,924 | | **Total Liabilities** | **$989,973** | **$995,888** | | **Total Stockholders' Equity** | **$254,120** | **$186,898** | [Consolidated Statements of Operations](index=126&type=section&id=Consolidated%20Statements%20of%20Operations) For 2021, net revenue was $441.5 million, operating income $118.5 million, and consolidated net income $40.7 million, a significant improvement Consolidated Statement of Operations (Year Ended Dec 31) | Line Item | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | Net Revenue | $441,462 | $376,337 | | Total operating expenses | $322,919 | $344,741 | | Operating income | $118,543 | $31,596 | | Consolidated Net Income (Loss) | $40,667 | $(6,569) | | Diluted Net Income (Loss) per Share | $0.71 | $(0.18) | [Consolidated Statements of Cash Flows](index=129&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $80.2 million in 2021, with investing activities providing $1.7 million and financing using $3.5 million Consolidated Statement of Cash Flows (Year Ended Dec 31) | Cash Flow Activity | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $80,150 | $73,867 | | Net cash provided by (used in) investing activities | $1,714 | $(3,413) | | Net cash used in financing activities | $(3,504) | $(30,142) | | **Increase in Cash, Cash Equivalents and Restricted Cash** | **$78,360** | **$40,312** | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=107&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[308](index=308&type=chunk) [Controls and Procedures](index=107&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2021 - Management concluded that the company's disclosure controls and procedures were **effective** as of December 31, 2021[309](index=309&type=chunk) - Based on an assessment using the COSO framework, management concluded that internal control over financial reporting was **effective** as of December 31, 2021[312](index=312&type=chunk) - There were no changes in internal control over financial reporting during the year ended December 31, 2021, that have materially affected, or are reasonably likely to materially affect, internal controls[313](index=313&type=chunk) [Other Information](index=109&type=section&id=Item%209B.%20Other%20Information) The company reports no other information - None[314](index=314&type=chunk) PART III [Directors and Executive Officers of the Registrant](index=110&type=section&id=Item%2010.%20Directors%20and%20Executive%20Officers%20of%20the%20Registrant) Information regarding directors and executive officers is incorporated by reference from the company's proxy statement - Information required by this item is incorporated by reference from the company's **2022 proxy statement**[317](index=317&type=chunk) [Executive Compensation](index=110&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the company's proxy statement - Information required by this item is incorporated by reference from the company's proxy statement[318](index=318&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=110&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership is incorporated by reference from the company's proxy statement - Information required by this item is incorporated by reference from the company's proxy statement[319](index=319&type=chunk) [Certain Relationships and Related Transactions](index=110&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions) Information regarding related party transactions is incorporated by reference from the company's proxy statement - Information required by this item is incorporated by reference from the company's proxy statement[320](index=320&type=chunk) [Principal Accounting Fees and Services](index=110&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accounting fees and services is incorporated by reference from the company's proxy statement - Information required by this item is incorporated by reference from the company's proxy statement[321](index=321&type=chunk) PART IV [Exhibits and Financial Statement Schedules](index=111&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the financial statements, financial statement schedules, and exhibits filed as part of the Form 10-K - This section lists all financial statements and exhibits filed with the Form 10-K, including the independent auditor's report, consolidated financial statements, and various material agreements[324](index=324&type=chunk)[325](index=325&type=chunk) [Form 10-K Summary](index=117&type=section&id=Item%2016.%20Form%2010-K%20Summary) No Form 10-K summary is provided - None[334](index=334&type=chunk)

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, 2021 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 ...

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, 2021 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 ...