Urban One Q3 Revenue Falls 5% as Net Loss Widens

RADIO ONLINE | Tuesday, November 10, 2026 | 11:05am CT

Urban One

Urban One reported third-quarter net revenue of $88 million, down 5% from $92.7 million a year earlier. A $128.9 million impairment charge drove an operating loss of $126.6 million, compared with operating income of $2.5 million in the year-earlier quarter.

The net loss attributable to common stockholders widened to $119.2 million, or $26.39 per basic share, from $2.8 million, or 64 cents per share. Adjusted EBITDA fell to $12.3 million from $14.2 million, while broadcast and digital operating income declined by $500,000 to $19.4 million.

Radio broadcasting revenue rose to $36.7 million from $34.7 million. Stations acquired in Dallas contributed $1.9 million after the deal took effect July 17. The acquisition and political advertising helped offset weaker demand from national and local advertisers.

Reach Media revenue fell to $5.1 million from $6.1 million amid weaker demand for network audio. Digital revenue declined to $9.6 million from $12.7 million as national client losses and lower rates outweighed growth in local digital revenue. Cable Television revenue slipped to $37.3 million from $39.8 million as subscribers declined and advertising rates fell.

"Market conditions in radio continued to adversely impact revenue in the third quarter," said President and CEO Alfred C. Liggins III. He said net political revenue topped $800,000 in the quarter and is expected to reach $8.8 million across all divisions for the year.

Urban One revised its full-year adjusted EBITDA guidance to $40 million. Liggins said management has identified at least $20 million in annualized cost savings heading into 2027.