Urban One revenue slides 16% as company aggressively repurchases debt

Urban One (NASDAQ:UONE) reported a double-digit decline in first-quarter revenue on Thursday, as the largest Black-owned media conglomerate in the U.S. continues to navigate a soft advertising market for its broadcast assets.

Despite the top-line contraction, the company significantly narrowed its net loss and highlighted a major debt reduction strategy aimed at slashing annual interest expenses.

Urban One reported net revenue of $77.7 million for the first quarter of 2026, a 15.8% decrease from the $92.3 million recorded in the prior-year period.

The decline was primarily driven by a pullback in national advertising spend across its radio and television divisions, with broadcast and digital operating income falling to $14.9 million from $23 million a year ago.

The company posted a net loss of $3.1 million, or $0.69 per share, a marked improvement over the $11.7 million loss reported in the first quarter of 2025.

The narrowed loss was aided by lower non-cash impairment charges compared to the previous year.

Adjusted EBITDA fell to $4.7 million from $12.9 million, reflecting the lower revenue base and ongoing investments in its digital platforms.

In a proactive move to de-lever, Urban One repurchased $60.2 million of its long-term debt year-to-date.

The company expects this reduction to yield approximately $4.6 million in annual interest savings.

Additionally, the company recently finalized several strategic radio transactions, including the acquisition of stations in Dallas, which management believes will bolster its core urban cluster strategy.

For the full year 2026, Urban One issued adjusted EBITDA guidance of approximately $60 million.

This outlook includes an estimated $2 million contribution from its recent portfolio optimizations.