Financial Data and Key Metrics Changes - Consolidated net revenue for the quarter was approximately $91.6 million, down 22.2% year over year [8] - Net loss was approximately $77.9 million or $1.74 per share, compared to a net loss of $45.4 million or $0.94 per share for the previous year [18] - Consolidated adjusted EBITDA was $14 million for the second quarter, down 51.7% [15] Business Line Data and Key Metrics Changes - Radio Broadcast segment net revenue was $36.7 million, a decrease of 12.6% year on year [8] - Reach Media segment net revenue was $5.3 million, down 71.9% from the prior year [10] - Digital segment revenues were down 27.1% at $10.3 million, impacted by the loss of an exclusive third-party audio streaming deal [11] - Cable Television segment revenue was approximately $40.1 million, a decrease of 7.5% [12] Market Data and Key Metrics Changes - Local advertising sales were down 5.6% against a market that was down 11% [9] - National ad sales were down 23.6% against a market that was down 13.1% [9] - Cable subscribers for TV One decreased to 34.3 million from 35.6 million at the end of Q1 [12] Company Strategy and Development Direction - The company revised its full-year guidance down from $75 million to $60 million due to headwinds [6] - Management is focused on cost cuts and rightsizing, with plans to implement changes by the end of Q3 [6][7] - The company is prioritizing debt reduction and expense management, with a focus on maintaining cash flow [27] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a tough quarter but noted that the TV business is performing better than originally budgeted [5][6] - The company is experiencing significant headwinds in radio and digital businesses, particularly in national advertising [7][40] - Management indicated that the decline in revenue is partly due to the pullback in DEI dollars and the impact of AI on marketing strategies [40][43] Other Important Information - The company repurchased $64 million of its 2028 notes, reducing overall debt balances [17] - Total gross debt was approximately $492.3 million, with unrestricted cash of $85.7 million, resulting in a net leverage ratio of 5.14x [18] Q&A Session Summary Question: Are the improved EBITDA margins in the cable TV segment due to cost-cutting initiatives? - Management indicated that the margin improvement is primarily a timing issue rather than a direct result of cost cuts [20][21] Question: What should be expected from the second round of cost cuts? - Management stated that the impact of the second round of cost cuts will likely be seen in 2026, and they are still in the process of determining the specifics [22][23] Question: How is the company approaching debt buybacks given the recent bond price increases? - Management confirmed that their focus remains on debt reduction and expense management, with no immediate plans for further debt buybacks [26][27] Question: Will the reduction in sales and marketing expenses be the new normal? - Management noted that while there is a timing difference affecting expenses, they are tightening their belts and do not expect a major rebound in those costs [34][35] Question: What is the status of the company's available credit line? - Management confirmed that the credit line is fully available and they are in compliance with the maintenance covenant [44][45]

Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 35 million households with a variety of original programming, classic series, and movies [4] - As of June 30, 2025, Urban One operates 72 independently formatted broadcast stations, including 57 FM or AM stations, 13 HD stations, and 2 low power television stations across 13 urban markets [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various social content, news, and entertainment websites [4] Upcoming Events - Urban One will hold a conference call on August 19, 2025, at 10:00 a.m. EDT to discuss its second fiscal quarter results [1] - U.S. callers can participate by dialing +1-888-596-4144, while international callers can dial +1-646-968-2525, using Access Code 3660282 [1] - A replay of the conference call will be available from August 19, 2025, at 2:00 p.m. EDT until August 26, 2025, at 11:59 p.m. EDT [2]

Financial Data and Key Metrics Changes - Consolidated net revenue was approximately $92.2 million, down 11.7% year over year [10] - Adjusted EBITDA was approximately $12.9 million, down 42.2% [15] - Net loss was approximately $11.7 million or $0.26 per share, compared to net income of $7.5 million or $0.15 per share for the same quarter last year [17] Business Line Data and Key Metrics Changes - Radio Broadcasting segment net revenue was $32.6 million, a decrease of 10.3% year over year [10] - Media segment net revenue was $5.9 million, down 30.9% from the prior year, with an adjusted EBITDA loss of $600,000 [12] - Cable Television segment revenue was $44.2 million, a decrease of 7.9%, with advertising revenue down 6.3% [13] Market Data and Key Metrics Changes - Local ad sales were down 12.8% against markets that were down 13.2% [10] - National ad sales were down 14.6% against markets being down 11.6% [10] - Cable subscribers for TV One decreased to 35.6 million from 37.2 million at the end of Q4 [13] Company Strategy and Development Direction - The company is focused on cost controls, managing leverage, and maintaining a strong liquidity position [6][8] - Plans to invest in new distribution opportunities in the FAST and AVOD environment rather than just increasing content spending [81] - The company aims to improve local digital efforts, which currently contribute low single digits to revenue compared to competitors [58] Management's Comments on Operating Environment and Future Outlook - Management indicated that radio pacing has weakened, down about 9% [5] - The expectation is that the majority of EBITDA will come in the second half of 2025, with Q2 expected to be similarly weak as Q1 [28][31] - Management does not foresee a positive rebound in advertising this year due to ongoing uncertainties [45] Other Important Information - The company repurchased $28.2 million of its 2028 notes at an average price of 58% of par [16] - Total gross debt was approximately $556.3 million, with unrestricted cash of $115.1 million, resulting in a net debt of approximately $441.3 million [18] Q&A Session Summary Question: What other levers can be pulled to control costs? - Management mentioned ongoing cost-cutting measures and plans to identify further opportunities by mid-year [23][24] Question: Is the majority of EBITDA expected in the second half of 2025? - Yes, more than half is expected to come in the second half of the year [28][29] Question: Should further debt repurchases be expected? - Management indicated a deliberate and opportunistic approach to debt repurchases, suggesting that they will continue as conditions allow [32][34] Question: How is the local SMB advertising environment compared to national? - Local advertising is down low single digits, which is better than national advertising, which is experiencing more significant declines [51][53] Question: Can you break out cable TV revenue between carriage fees and advertising? - Management confirmed that this information is available in the press release [65] Question: What is the renewal schedule with large cable and MVPDs? - Charter, Verizon, and NCTC contracts are up this year, with Comcast and AT&T renewals next year [68][70] Question: How are TV One ratings performing? - Ratings have stabilized and are exceeding budgeted numbers year to date [73] Question: Is programming spend steady or growing? - Programming spend is down about 10%, with no major plans to increase it significantly [75][79]

Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 37 million households with a variety of original programming, classic series, and movies [4] - As of March 31, 2025, Urban One operates 72 independently formatted broadcast stations, including 57 FM or AM stations, 13 HD stations, and 2 low power television stations [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various websites and brands [4] Upcoming Events - Urban One will hold a conference call on May 13, 2025, at 10:00 a.m. EDT to discuss its results for the first fiscal quarter of 2025 [1] - A replay of the conference call will be available from May 13, 2025, at 2:00 p.m. EDT until May 20, 2025, at 11:59 p.m. EDT [2]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $103.5 million for Q4 2024, which was in the middle of its guidance range [6][10] - Consolidated net revenues decreased by 2.7% year-over-year to approximately $117.1 million [12] - The net loss for Q4 was approximately $35.7 million, or $0.78 per share, compared to a net loss of $11 million, or $0.23 per share, for the same quarter in 2023 [25] Business Line Data and Key Metrics Changes - Radio Broadcast segment net revenue was $47.7 million, an increase of 14.5% year-over-year, but down 5.1% when excluding political advertising [12][13] - Reach Media segment net revenue was $9.6 million, down 10.7% from the prior year [14] - Digital segment net revenue decreased by 3.1% to $20.5 million, with political advertising contributing $2.4 million [15] - Cable Television segment revenue was approximately $39.8 million, a decrease of 15.9%, with advertising revenue down 21.4% [16][17] Market Data and Key Metrics Changes - Local ad sales were up 0.1% against a market decline of 5.2%, while national ad sales increased by 35.4% against a market increase of 28.4% [13] - Cable subscribers for TV One decreased to 37.2 million from 39.1 million at the end of Q3 [19] Company Strategy and Development Direction - The company is focusing on cost containment and debt reduction, with a guidance of $75 million for adjusted EBITDA in 2025, down from $103.5 million in 2024 [10][11] - Management indicated a strong liquidity position with approximately $137 million in cash on hand [9] - The company is exploring M&A opportunities while prioritizing debt reduction [59] Management's Comments on Operating Environment and Future Outlook - Management noted broad softness in advertising demand, particularly in the radio business, with negative pacing across local, national, and network radio [36] - There is optimism for improvement in radio business pacing, which is expected to stabilize in Q2 [8][40] - Management expressed belief in further consolidation within the radio sector due to deregulation [45][46] Other Important Information - The company recorded $24.2 million in noncash impairment charges in Q4, primarily related to the TV One brand name and goodwill [24] - The company repurchased $15.4 million of its 2028 notes during the quarter, reducing the balance to approximately $584.6 million [23][27] - An incident involving unauthorized access to the company's IT systems was reported, but it has not materially impacted operations [27][28] Q&A Session Summary Question: Clarification on Q1 radio pacing - Management confirmed that Q1 radio pacing down 13.6% aligns with a 5.1% decline in Q4 when excluding political advertising [31][34] Question: Insights on weakness in Q4 and improvement in Q2 - Management indicated broad softness in advertising demand and noted improvements in local markets, particularly in Ohio [36][38] Question: Opportunities from deregulation in broadcasting - Management believes further consolidation in the radio sector is likely and that they are in a strong position to capitalize on opportunities [45][46] Question: Capital allocation plans for fiscal '25 - The company plans to allocate 95% of capital to debt reduction, with a small plan for stock repurchases [56][59] Question: Update on Digital segment revenue - Management explained that connected TV revenue will be reported under the TV segment going forward, affecting digital revenue numbers [66][72] Question: Free cash flow expectations for the year - Management anticipates around $25 million of free cash flow generation off the $75 million EBITDA guidance [83] Question: Potential asset sales - Management indicated that while there are noncore assets, the current market lacks buyers for such assets [90][92] Question: Minimum cash balance target - Management stated there is no minimum cash balance target, and they have an undrawn $50 million revolver available [94][96] Question: Thoughts on cable network spin-offs - Management expressed skepticism about the impact of spin-offs on the market, citing challenges in valuing cable assets [100][106]