Prnewswire·2026-03-12 12:00Core Insights - Urban One, Inc. reported a net revenue of approximately $97.8 million for Q4 2025, a decrease of 16.5% compared to Q4 2024 [1][4] - The company experienced an operating loss of approximately $54.0 million in Q4 2025, compared to an operating loss of approximately $1.9 million in Q4 2024 [1][4] - The net loss for Q4 2025 was approximately $54.4 million or $(12.24) per share, compared to a net loss of $35.7 million or $(7.81) per share in Q4 2024 [1][2] Financial Performance - Total net revenue for the year ended December 31, 2025, was approximately $374.4 million, down 16.7% from $449.7 million in 2024 [1][4] - The company reported adjusted EBITDA of approximately $15.6 million for Q4 2025, down from approximately $26.9 million in Q4 2024 [1][3] - Impairment of goodwill and intangible assets was approximately $55.3 million in Q4 2025, compared to $24.2 million in Q4 2024 [1][4] Segment Performance - Revenue from the Radio Broadcasting segment was approximately $35.1 million in Q4 2025, down from $47.7 million in Q4 2024, primarily due to a decrease in political advertising [4][5] - The Reach Media segment saw an increase in revenue to approximately $13.8 million in Q4 2025 from $9.6 million in Q4 2024, driven by event revenue [4][5] - The Cable Television segment reported revenue of approximately $34.9 million in Q4 2025, down from $42.0 million in Q4 2024, attributed to subscriber churn and lower advertising sales [4][5] Debt and Financing - On December 18, 2025, the company completed a private placement debt exchange, repurchasing $185.0 million of 2028 Notes for $111.0 million [1][3] - The company issued $60.6 million of 10.500% first lien senior secured notes due 2030 and $291.0 million of 7.625% second lien secured notes due 2031 [1][3] - The Amended and Restated ABL Credit Agreement provides commitments of up to $75.0 million, with an additional capacity of up to $25.0 million for working capital and corporate purposes [1][3] Market Outlook - The CEO noted a challenging Q4 due to non-recurring political advertising and declining audience delivery in cable TV, but expressed optimism for recovery in Q1 2026 [1][3] - The company anticipates a significant recovery in cable TV delivery due to revised Nielsen methodology, projecting a lift of approximately 40.0% - 50.0% compared to Q4 2025 [1][3] - Radio pacings in Q1 2026 are currently down 5.0%, but the company remains positive about mid-term political revenues later in the year [1][3]