Urban One Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw a 15.8% revenue decline and a 63.8% drop in adjusted EBITDA, driven by ad market softness and cable subscriber losses. Debt was reduced by $60 million, with updated 2026 EBITDA guidance of $60 million and leverage expected below 5x by year-end.
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, but radio showed some growth. Full-year EBITDA guidance is maintained but expected at the lower end, with optimism for political ad revenue and new CTV monetization in H2.
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.