secwatch.observer — SEC 8-K summary
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Issuer:     URBAN ONE, INC. (UONE)
CIK:        0001041657
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0001558370-22-012908
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban One Q2 revenue up 10.4% to $118.8M; reports material weakness, casino vote delayed to 2023
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- Net revenue $118.8M (+10.4% YoY); net income $15.0M ($0.30 basic) vs $17.9M ($0.36 basic) last year.
- Adjusted EBITDA $47.5M (+6.1% YoY); broadcast and digital operating income $55.1M (+11.2%).
- Q3 core radio pacing down low-to-mid single digits; CEO still expects consolidated revenue growth in Q3.
- Material weakness in internal controls over radio broadcast license valuation; will amend 2021 10-K and Q1 2022 10-Q.
- Richmond casino referendum moved to 2023; withdrew 2022 petition after citing desire to avoid protracted legal dispute.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1041657/000155837022012908/0001558370-22-012908-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1041657/000155837022012908/uone-20220809x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-012908

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer