Urban One Q2 net loss $45.4M (-$0.94); revenue $117.7M (-9.2% YoY); FY EBITDA guidance at low end $110-120M

URBAN ONE, INC.

2024-Q2 EPS reported -$0.78 revenue$222,154,000

Net loss of $45.4M ($0.94 diluted loss per share) vs income of $70.4M in Q2 2023; includes $80.8M impairment.
Adjusted EBITDA $28.4M vs $37.5M YoY; full-year 2024 EBITDA expected at lower end of $110-120M range.
Net revenues fell 9.2% to $117.7M; broadcast and digital operating income down 27.7% to $34.2M.
Repurchased $35.5M of 7.375% senior notes due 2028 at 78% of par; net debt $482.6M, leverage 4.37x.
CEO cites sequential improvement in national radio revenues, but weaker local; political ad uptick expected; Cable TV subscriber churn continues.

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