Urban One, Inc. reported net revenue of approximately $92.2 million for the first quarter ended March 31, 2025, representing an 11.7% decrease from the same period in 2024. The company posted a net loss of $11.7 million, or $(0.26) per share, which is an increase from the net loss of $7.5 million, or $(0.15) per share, reported in Q1 2024.
Adjusted EBITDA for the quarter was approximately $12.8 million, a substantial decline from $22.3 million in Q1 2024. All major segments experienced revenue decreases: Radio Broadcasting revenue fell by $6.6 million to $32.6 million, Reach Media revenue decreased by $1.9 million to $5.8 million, Digital revenue was down $3.0 million to $10.2 million, and Cable TV revenue declined by $2.7 million to $44.0 million.
The company continued its debt reduction strategy, repurchasing $28.2 million of its 2028 notes at 55.0% during the quarter, reducing total outstanding debt to $561.8 million. Urban One also reported cash and cash equivalents of $137.6 million at the end of the quarter. Additionally, the company repurchased 1,000,000 shares of Class A Common Stock for $2.0 million and 500,000 shares of Class D Common Stock for $0.7 million.
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