Urban One Q3 revenue $110.4M (-6.3% YoY), net loss $0.68/sh; FY2024 EBITDA guidance cut to $102-105M

URBAN ONE, INC.

2024-Q3 EPS reported -$1.43 revenue$332,547,000

Q3 net revenue $110.4M, down 6.3% YoY; net loss $31.8M ($0.68/sh) vs $54.4M loss ($1.14/sh) in Q3 2023.
Adjusted EBITDA $25.4M vs $34.7M YoY; broadcast/digital operating income $35.4M, down 19.2%.
FY2024 Adjusted EBITDA guidance reduced to $102-105M from prior range of $110-120M.
Q4 revenue pacing flat YoY; full-year political ad revenue expected ~$20.5M.
Cash and equivalents $115.5M; repurchased $14.5M of 7.375% notes at 75% of par in Q2.

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