Financial Data and Key Metrics Changes - Consolidated net revenues decreased by 6.3% year-over-year to approximately 110.4millionforQ32024[9]−ConsolidatedadjustedEBITDAwas25.4 million, down 26.7% compared to the previous year [16] - Net loss for the quarter was approximately 31.8millionor0.68 per share, an improvement from a net loss of 54.4millionor1.20 per share in Q3 2023 [18] - Total gross debt was approximately 600million,withanetleverageratioof4.68xbasedon103.7 million of LTM reported adjusted EBITDA [19] Business Line Data and Key Metrics Changes - Radio broadcasting segment net revenue was 39.7million,adecreaseof1.110.2 million, down 8.2% from the prior year, while adjusted EBITDA increased to 3.7millionfrom3.4 million [10] - Digital segment net revenues were flat at 20.4million,withconnectedTVandpodcastrevenueshowinggrowth[11]−CableTVsegmentrevenuesdecreasedby1314.5 million of outstanding bonds at 75% of par [7] - A modification of year-end EBITDA guidance from 110milliontoarangeof102 million to 105millionwasannouncedduetoongoingweaknessintheCableTVsegment[8]ManagementCommentsonOperatingEnvironmentandFutureOutlook−ManagementacknowledgedcontinuedadvertisingheadwindsinQ3andforecastedflatrevenuesforQ4,drivenbyrobustpoliticalspending[7]−Thecompanyplanstomaintainayear−endcashbalanceof140 million and continue prudent management towards debt reduction [8] Other Important Information - Operating expenses increased to approximately 87.4million,up3.546.8 million were recorded for broadcasting licenses and trade names due to increased discount rates and projected declines in revenues [17] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the call concluded without a detailed Q&A segment [20][21]
Urban One(UONE)2024-11-12 19:03