---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-011838"
form_type: "8-K"
ticker: "UONE"
cik: "0001041657"
company_name: "URBAN ONE, INC."
filed_at: "2023-07-12T23:59:59+00:00"
generated_at: "2026-06-13T09:17:53.197902+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Urban One Q4 net income $856K, down 84% YoY; auditor BDO dismissed, material weaknesses cited

## Summary
- Q4 2022 net revenue $132.6M (+1.6% YoY); net income $856K ($0.02 basic EPS) vs $5.3M ($0.10) in Q4 2021.
- Full-year 2022 Adjusted EBITDA $165.6M, a new record; Q4 Adj. EBITDA $31.7M vs $32.5M YoY.
- Dismissed BDO as auditor, appointed EY; disclosed material weaknesses in internal controls over financial reporting.
- Expects FY 2023 Adjusted EBITDA to exceed 2019 pre-pandemic level (ex-MGM distribution) and FCF ~$65M.
- Repurchased $25M of 7.375% 2028 Notes at avg 89.1%; gross debt reduced to $725M from $825M.

## SEC filing metadata
- accession: 0001558370-23-011838
- form_type: 8-K
- ticker: UONE
- cik: 0001041657
- company_name: URBAN ONE, INC.
- filed_at: 2023-07-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 4.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1041657/000155837023011838/0001558370-23-011838-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041657/000155837023011838/uone-20230706x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-011838
- JSON: https://secwatch.observer/filing/0001558370-23-011838.json
- Plain text: https://secwatch.observer/filing/0001558370-23-011838.txt

## Key facts
- Auditor Changes
  URBAN ONE, INC. engaged Ernst & Young LLP as its auditor.
  - Action: engagement
  - Auditor: Ernst & Young LLP
  source text: The Audit Committee has appointed Ernst & Young LLP (EY) to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 effective as of July 12, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041657/000155837023011838/0001558370-23-011838-index.htm
- Auditor Changes
  URBAN ONE, INC. dismissed BDO USA, P.A. as its auditor.
  - Action: dismissal
  - Auditor: BDO USA, P.A.
  - Successor: Ernst & Young LLP
  source text: The Audit Committee of the Company’s Board of Directors (the “Audit Committee”) approved the dismissal of BDO on July 11, 2023 and BDO’s dismissal as the Company’s independent registered public accounting firm will be effective on July 12, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041657/000155837023011838/0001558370-23-011838-index.htm
- Earnings Releases
  URBAN ONE, INC. reported the quarter ended December 31, 2022 results: revenue $132.6 million, net income $856,000, EPS $0.02 per share (basic).
  - Period: the quarter ended December 31, 2022
  - Revenue: $132.6 million
  - Net income: $856,000
  - EPS: $0.02 per share (basic)
  - Result: reported results
  source text: Net revenue was approximately $132.6 million, an increase of 1.6% from the same period in 2021. The Company reported operating income of approximately $14.3 million for the three months ended December 31, 2022, compared to approximately $20.3 million for the three months ended December 31, 2021. Broadcast and digital operating income 1 was approximately $47.6 million, an increase of 7.9% from the same period in 2021. Net income was $856,000 or $0.02 per share (basic) compared to approximately $5.3 million or $0.10 per share (basic) for the same period in 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041657/000155837023011838/0001558370-23-011838-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.