Urban One Q1 revenue up 22.9% to $112.3M; raises FY22 Adjusted EBITDA guidance above $145-150M range

URBAN ONE, INC.

2022-Q1 EPS reported $0.30 revenue$112,349,000

Net revenue $112.3M (+22.9% YoY); net income $16.4M ($0.32 basic EPS) vs $0.00 prior year.
Adjusted EBITDA $42.0M (+38.9% YoY); company now expects FY22 Adjusted EBITDA above prior $145-150M range.
Digital revenues +49.5%, Cable TV advertising +46.9%, core radio +17.4%; cash $166.4M, net leverage 4.07x.
ONE Casino + Resort Richmond referendum set for Nov 2022; order final and non-appealable, moving forward.

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