secwatch.observer — SEC 8-K summary
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Issuer:     URBAN ONE, INC. (UONE)
CIK:        0001041657
Form:       8-K
Filed at:   2024-08-09T23:59:59+00:00
Accession:  0001041657-24-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041657/000104165724000008/0001041657-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041657/000104165724000008/uone-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001041657-24-000008

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