Urban One Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw sequential improvement but continued year-over-year declines in revenue and earnings, prompting a reduction in EBITDA guidance to the mid-$50 million range. Debt reduction and cost controls improved leverage, while political ad revenue remains a key but uncertain driver for the second half.
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Q1 revenue and EBITDA declined sharply year-over-year amid a weak ad market, but aggressive debt reduction and strategic M&A are expected to lower leverage below 5x by year-end. Digital and local segments show growth potential, and free cash flow is projected at $40 million.
Fiscal Year 2025
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Q4 2025 saw a 16.5% revenue decline and a net loss of $54.4 million, with significant non-cash impairments and a major debt restructuring that improved the capital structure. 2026 EBITDA guidance remains at $70 million, pending Q1 results.
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Q3 revenue and EBITDA declined sharply year-over-year, prompting a downward revision of full-year guidance. Cost-saving measures and debt reduction efforts continued, while management anticipates a rebound in 2026 driven by political tailwinds and strategic market changes.
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Q2 revenue fell 22.2% year-over-year, with significant declines in radio, digital, and Reach Media segments. Full-year EBITDA guidance was lowered to $60 million, and $130.1 million in non-cash impairments were recorded. Debt reduction and cost management remain priorities.
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Q1 2025 revenue and EBITDA declined year-over-year, with radio and digital segments under pressure and national ad sales particularly weak. Debt reduction and cost controls improved liquidity, and most EBITDA is expected in the second half of 2025.
Fiscal Year 2024
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Adjusted EBITDA for 2024 reached $103.5 million, driven by political advertising, but 2025 guidance is lower at $75 million due to weaker radio and reduced political spend. Cost containment, debt reduction, and selective capital deployment remain priorities, with free cash flow projected at $25 million.
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Q3 2024 saw a 6.3% revenue decline and a 26.7% drop in Adjusted EBITDA, driven by ongoing advertising and cable TV headwinds. Debt reduction continued, and year-end EBITDA guidance was lowered to $102–$105 million.
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Q2 net revenue fell 9.2% year-over-year, with cable TV and digital segments under pressure, while radio saw modest growth. EBITDA guidance for 2024 is maintained but expected at the lower end due to cable softness. Debt reduction and political ad revenue remain key focus areas.
Fiscal Year 2023
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Year-end 2023 audit and Q1 2024 results are complete, with 2024 Adjusted EBITDA guided at $110–$120 million amid ongoing ad market softness and political ad uncertainty. Focus remains on deleveraging, with no M&A planned and CapEx set at $9 million for the year.