URBAN ONE, INC. UONE
Urban One, Inc., a Delaware corporation, and its subsidiaries (collectively, "Urban One", the "Company", "we", "our" and/or "us") is an urban-oriented, multi-media company that primarily targets African-American and urban consumers. Our core business is our radio broadcasting franchise, which is the largest radio broadcasting operation that primarily targets African-American and urban listeners. As of December 31, 2025, we owned and/or operated 76 independently formatted, revenue producing broadcast stations (including 58 FM or AM stations, 16 HD stations, and the 2 low power television stations we operate), located in 13 of the most populous African-American markets in the United States. While a core source of our revenue has historically been and remains the sale of local and national advertising for broadcast on our radio stations, our strategy is to operate the premier multi-media entertainment and information content platform targeting African-American and urban consumers. Thus, we have diversified our revenue streams by making acquisitions and investments in other complementary media properties. Our diverse media and entertainment interests include TV One, LLC ("TV One"), which operates two cable television networks targeting African-American and urban viewers, TV One and CLEO TV; our approximately 94.6% ownership interest in Reach Media, Inc. ("Reach Media") which operates the Rickey Smiley Morning Show and our other syndicated programming assets, including the Get Up! Mornings with Erica Campbell Show and the DL Hughley Show; and Interactive One, LLC ("Interactive One"), our wholly owned digital platform serving the African-American community through social content, news, information, and entertainment websites, including its iONE Digital, Cassius and Bossip, HipHopWired and MadameNoire digital platforms and brands. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to communicate with African-American and urban audiences.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $374.4M | $449.7M | $477.7M | $484.6M | $440.3M | $376.3M | $436.9M | $439.1M | $440.0M | $456.2M |
| Cost of revenue | — | — | — | — | — | — | — | $125.4M | $130.4M | $134.0M |
| Gross profit | — | — | — | — | — | — | — | $313.7M | $309.6M | $322.2M |
| SG&A | $209.2M | $230.4M | $173.6M | $160.6M | $142.0M | $109.0M | $152.6M | $149.7M | $148.7M | $147.9M |
| Total operating expenses | $544.5M | $525.3M | $509.3M | $393.5M | $323.8M | $344.7M | $349.8M | $365.5M | $387.3M | $368.1M |
| Operating income | -$170.1M | -$75.6M | -$31.6M | $91.1M | $116.4M | $31.6M | $87.1M | $73.6M | $52.7M | $88.1M |
| Interest expense | $38.8M | $48.6M | $56.2M | $61.8M | $65.7M | $74.5M | $81.4M | $76.7M | $79.4M | $81.6M |
| Pre-tax income | -$162.9M | -$94.0M | $17.6M | $53.1M | $52.1M | -$41.0M | $12.9M | $3.4M | -$10.7M | $10.3M |
| Income tax | $16.0M | $9.8M | $7.9M | $16.4M | $13.0M | $34.5M | $10.9M | $135.2M | $123.2M | $9.6M |
| Net income | -$146.9M | -$104.2M | $4.6M | $34.3M | $36.8M | -$8.1M | $925.0K | $137.4M | $111.9M | -$423.0K |
| EPS, basic | -32.94 | -22.23 | 0.04 | 0.70 | 0.73 | -0.18 | — | — | 2.37 | -0.01 |
| EPS, diluted | -32.94 | -22.23 | 0.04 | 0.66 | 0.68 | -0.18 | — | 2.94 | 2.25 | -0.01 |
| Shares, diluted (wtd. avg.) | $4.5M | $4.7M | $50.2M | $52.2M | $54.1M | $45.0M | $47.9M | $48.0M | $49.6M | $47.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $25.5M | $137.1M | $233.6M | $101.9M | $158.7M | $73.9M | $33.5M | $15.9M | $37.8M | $46.8M |
| Receivables | $88.7M | $113.8M | $133.2M | $142.0M | $104.1M | $94.9M | $106.1M | $110.4M | $111.6M | $104.4M |
| Total current assets | $164.5M | $305.4M | $422.0M | $295.4M | $278.6M | $202.9M | $186.0M | $173.2M | $199.7M | $199.7M |
| Property, plant and equipment | $33.4M | $27.8M | $28.7M | $28.3M | $26.3M | $19.2M | $24.4M | $26.1M | $25.2M | $24.9M |
| Goodwill | $132.4M | $196.4M | $216.6M | $216.6M | $223.4M | $223.4M | $239.8M | $245.6M | $262.9M | $4.6M |
| Other intangibles | — | $30.9M | $49.1M | $55.2M | $47.9M | — | — | — | — | — |
| Total assets | $593.0M | $944.8M | $1.21B | $1.34B | $1.30B | $1.22B | $1.25B | $1.24B | $1.32B | $1.36B |
| Accounts payable | $14.0M | $19.9M | $20.0M | $17.2M | $14.6M | $11.2M | $5.9M | $7.3M | $8.1M | $7.6M |
| Short-term debt | $10.0M | $0 | $0 | $0 | $0 | $23.4M | $25.9M | $38.7M | $3.5M | $3.5M |
| Total current liabilities | $78.3M | $114.3M | $132.6M | $132.8M | $99.3M | $78.3M | $101.0M | $111.3M | $80.8M | $92.5M |
| Long-term debt | $429.7M | $579.1M | $716.2M | $739.0M | $818.6M | $818.9M | $850.3M | $873.8M | $967.2M | $1.00B |
| Total liabilities | $565.8M | $765.9M | $920.6M | $982.0M | $999.8M | $961.8M | $1.06B | $1.05B | $1.26B | $1.42B |
| Retained earnings | -$985.6M | -$838.8M | -$733.4M | -$736.0M | -$789.5M | -$807.1M | -$796.8M | -$803.5M | -$941.0M | -$1.05B |
| Total equity | $24.6M | $170.9M | $274.1M | $330.8M | $303.6M | $241.7M | $183.1M | $175.1M | $42.7M | -$71.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.2M | $37.5M | $64.6M | $66.5M | $80.2M | $73.9M | $58.5M | $50.2M | $28.3M | $48.2M |
| Depreciation and amortisation | $18.1M | $7.7M | $7.1M | $10.0M | $9.3M | $9.7M | $17.0M | $33.2M | $34.0M | $34.2M |
| Stock-based compensation | $1.9M | $5.7M | $10.0M | $9.9M | $565.0K | $2.3M | $4.8M | $4.7M | $4.6M | $3.4M |
| Capital expenditure | $10.1M | $7.2M | $7.7M | $6.8M | $6.3M | $3.8M | $5.1M | $4.4M | $7.4M | $5.2M |
| Investing cash flow | -$10.3M | -$1.6M | $95.4M | -$28.7M | $1.7M | -$3.4M | $8.4M | $3.2M | $12.6M | -$42.2M |
| Financing cash flow | -$105.1M | -$131.8M | -$28.3M | -$94.7M | -$3.5M | -$30.1M | -$49.2M | -$75.3M | -$49.8M | -$26.7M |
| Buybacks | $2.8M | $8.1M | $1.6M | $26.5M | $970.0K | $3.6M | $5.5M | $8.2M | $5.0M | $3.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001041657-26-000030.
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