In This Article:
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Consolidated Net Revenue: $92.2 million, down 11.7% year-over-year.
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Radio Broadcasting Net Revenue: $32.6 million, a decrease of 10.3% year-over-year.
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Digital Segment Net Revenue: $10.2 million, down 16.2% in Q1.
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Cable Television Revenue: $44.2 million, a decrease of 7.9%.
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Consolidated Adjusted EBITDA: $12.9 million, down 42.2%.
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Net Loss: $11.7 million or $0.26 per share, compared to net income of $7.5 million or $0.15 per share in Q1 2024.
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Operating Expenses: $80.7 million, a decrease of 8.6% from the prior year.
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Interest Expense: $10.9 million, down from $13 million last year.
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Capital Expenditures: Approximately $2.5 million.
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Gross Debt: Approximately $556.3 million.
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Ending Unrestricted Cash: $115.1 million.
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Net Debt: Approximately $441.3 million.
Release Date: May 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Urban One Inc (NASDAQ:UONE) reaffirmed its guidance of $75 million EBITDA for 2025, indicating confidence in its financial outlook.
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The company successfully reduced its gross debt to $495.9 million by repurchasing $88.6 million of debt at a discount, demonstrating effective debt management.
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Operating expenses decreased by 8.6% year-over-year, primarily due to lower third-party professional fees and employee compensation costs.
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Local radio advertising revenue showed resilience, with a decline of less than 2%, indicating stability in this segment.
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Urban One Inc (NASDAQ:UONE) maintains a strong liquidity position with $80 million in cash and an undrawn revolver, providing financial flexibility.
Negative Points
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Consolidated net revenue decreased by 11.7% year-over-year, reflecting challenges in revenue generation.
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Radio Broadcasting segment revenue declined by 10.3% year-over-year, with national ad sales down 14.6%.
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Digital segment revenue fell by 16.2% in Q1, impacted by renegotiation of an exclusive third-party deal.
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Cable television segment revenue decreased by 7.9%, with a notable decline in TV One delivery by 18%.
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The company recorded a net loss of $11.7 million for the quarter, compared to a net income of $7.5 million in the prior year.
Q & A Highlights
Q: What cost-cutting measures has Urban One implemented, and are there more planned for the future? A: Alfred Liggins, CEO, mentioned that Urban One implemented cost-cutting measures at the end of last year, saving about $5 million. They are reviewing further opportunities for cost reduction, aiming to execute additional measures by mid-year. However, specific details were not disclosed.