Technology

URBAN ONE, INC. REPORTS SECOND QUARTER 2026 RESULTS

Published

3 months ago

August 4, 2026

SILVER SPRING, Md., Aug. 4, 2026 /PRNewswire/ — Urban One, Inc. (NASDAQ: UONEK and UONE, referred to as, “Urban One,” the “Company”, “we”, “our” and/or “us”) today reported its results for the three months ended June 30, 2026. For the three months ended June 30, 2026, net revenue was approximately $85.8 million, a decrease of 6.4% from the same period in 2025. The Company reported operating loss of approximately $11.2 million for the three months ended June 30, 2026, compared to operating loss of approximately $120.7 million for the three months ended June 30, 2025. Broadcast and digital operating income(1) was approximately $22.2 million for the three months ended June 30, 2026, a decrease of $3.5 million from the same period in 2025. Net loss was approximately $7.1 million or $(1.58) per share (basic) for the three months ended June 30, 2026, compared to net loss of $77.9 million or $(17.41)(a) per share (basic) for the same period in 2025. Adjusted EBITDA(2) was approximately $11.7 million for the three months ended June 30, 2026, compared to approximately $14.0 million for the same period in 2025.

Alfred C. Liggins, III, Urban One’s CEO and President stated, “We saw some sequential improvement in the second quarter compared to the first quarter, with lower rates of revenue decline. Cable Television was down 7.4%, Digital was down 8.4%, Radio was down 3.9%, and Reach Media dropped by 10.6%. In Radio, our Miller Kaplan local Radio revenues were down 10.1% year-over-year vs. the market down 7.8%; and national was down 1.5% vs. the market down 4.6%. Including local digital, second quarter Radio revenue was down 4.9%. We did approximately $1.4 million in gross political advertising in the second quarter. Radio third quarter is pacing down 2.8%. We remain in a turnaround situation at Reach Media, where we continue to be impacted by a weak marketplace, key client attrition and sales team re-building. We continue to closely manage cash flows from operations, with concerted efforts to collect receivables and manage discretionary vendor spend. During the three months ended June 30, 2026, the Company repurchased approximately $23.5 million of its 2031 Second Lien Notes at a weighted average price of approximately 42.0% of par. Year-to-date, that is a total reduction in long-term debt of $60.2 million for an annual interest savings of $4.6 million and an increase in short-term debt of $10.0 million. During the quarter we completed the disposition of WLNK and WMXG in Charlotte. Our revised Adjusted EBITDA(2) guide for 2026 is now in the mid-fifty-million dollar range, given the realities of the current marketplace.”

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

(Unaudited)

CONSOLIDATED STATEMENTS OF
OPERATIONS

(In thousands, except share data)

NET REVENUE

$ 85,757

$ 91,631

$ 163,408

$ 183,866

OPERATING EXPENSES

Programming and technical, excluding stock-based
compensation

29,774

28,647

59,779

59,245

Selling, general and administrative, excluding stock-
based compensation

45,201

49,493

88,684

99,598

Stock-based compensation

1,680

574

1,881

1,250

Depreciation and amortization

6,184

3,523

12,361

5,838

Impairment of goodwill, intangible assets and long-
lived assets

14,157

130,078

14,157

136,521

Total operating expenses

96,996

212,315

176,862

302,452

Operating loss

(11,239)

(120,684)

(13,454)

(118,586)

INTEREST AND INVESTMENT INCOME

—

616

1,582

INTEREST EXPENSE

(2,070)

(9,704)

(6,477)

(20,628)

GAIN ON SALE OF BUSINESS

4,671

—

4,671

—

GAIN ON RETIREMENT OF DEBT

—

30,297

2,080

41,884

OTHER (EXPENSE) INCOME, NET

(43)

124

(51)

316

Loss before benefit from income taxes

(8,681)

(99,351)

(13,223)

(95,432)

BENEFIT FROM INCOME TAXES

1,703

21,382

3,144

5,724

NET LOSS

(6,978)

(77,969)

(10,079)

(89,708)

NET INCOME (LOSS) ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

(67)

(64)

NET LOSS ATTRIBUTABLE TO COMMON
STOCKHOLDERS

$ (7,073)

$ (77,902)

$ (10,152)

$ (89,644)

Weighted-average shares outstanding – basic(3, a)

4,470,542

4,473,831

4,460,275

4,476,828

Weighted-average shares outstanding – diluted(4, a)

4,470,542

4,473,831

4,460,275

4,476,828

(a) Weighted-average shares outstanding used in the computation of basic and diluted net loss to common stockholders per share have been retroactively adjusted to reflect the 1-for-10 Reverse Stock Split that occurred on January 22, 2026.

Detailed segment data for the three and six months ended June 30, 2026 and 2025 is presented in the following tables:

Three Months Ended
June 30, 2026

(In thousands, unaudited)

Consolidated

Radio
Broadcasting

Reach Media

Digital

Cable
Television

Corporate/
Eliminations/
Other

NET REVENUE

$ 85,757

$ 35,276

$ 4,754

$ 9,397

$ 37,121

$ (791)

Less/(add):

Programming and technical

29,774

10,910

3,203

3,127

12,704

(170)

Sales and marketing

24,982

11,641

1,905

5,858

5,913

(335)

General and administrative

20,219

6,724

673

514

4,299

8,009

Add back:

Severance-related costs

—

Other costs

856

236

—

620

Adjusted EBITDA(2)

$ 11,723

$ 6,288

$ (1,027)

$ (92)

$ 14,205

$ (7,651)

Three Months Ended
June 30, 2025

(In thousands, unaudited)

Consolidated

Radio
Broadcasting

Reach Media

Digital

Cable
Television

Corporate/
Eliminations/
Other

NET REVENUE

$ 91,631

$ 36,693

$ 5,315

$ 10,254

$ 40,070

$ (701)

Less/(add):

Programming and technical

28,647

9,993

3,178

3,267

12,372

(163)

Sales and marketing

28,310

13,389

3,053

6,572

5,831

(535)

General and administrative

21,183

6,373

735

561

3,811

9,703

Add back:

Other costs

469

—

469

Adjusted EBITDA(2)

$ 13,960

$ 6,938

$ (1,651)

$ (146)

$ 18,056

$ (9,237)

Six Months Ended
June 30, 2026

(In thousands, unaudited)

Consolidated

Radio
Broadcasting

Reach Media

Digital

Cable
Television

Corporate/
Eliminations/
Other

NET REVENUE

$ 163,408

$ 65,811

$ 9,614

$ 16,185

$ 73,154

$ (1,356)

Less/(add):

Programming and technical

59,779

22,516

6,286

6,168

25,150

(341)

Sales and marketing

48,798

22,159

3,546

10,486

13,317

(710)

General and administrative

39,886

13,365

1,409

1,001

7,538

16,573

Add back:

Severance-related costs

219

—

Other costs

1,215

237

—

978

Adjusted EBITDA(2)

$ 16,379

$ 8,107

$ (1,555)

$ (1,454)

$ 27,149

$ (15,868)

Six Months Ended
June 30, 2025

(In thousands, unaudited)

Consolidated

Radio
Broadcasting

Reach Media

Digital

Cable
Television

Corporate/
Eliminations/
Other

NET REVENUE

$ 183,866

$ 69,303

$ 11,168

$ 20,466

$ 84,263

$ (1,334)

Less/(add):

Programming and technical

59,245

21,286

6,546

6,454

25,281

(322)

Sales and marketing

57,386

24,935

5,178

13,359

14,927

(1,013)

General and administrative

42,212

13,423

1,761

745

7,406

18,877

Add back/(deduct):

Severance-related costs

219

114

(1)

Other costs

1,575

—

1,523

Adjusted EBITDA(2)

$ 26,817

$ 9,786

$ (2,202)

$ (88)

$ 36,648

$ (17,327)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

(Unaudited)

PER SHARE DATA – basic and diluted:

(In thousands, except per share
data)

Net loss attributable to common stockholders (basic)(a)

$ (1.58)

$ (17.41)

$ (2.28)

$ (20.02)

Net loss attributable to common stockholders (diluted)(a)

$ (1.58)

$ (17.41)

$ (2.28)

$ (20.02)

Broadcast and digital operating income(1)

$ 22,152

$ 25,664

$ 37,016

$ 48,680

Broadcast and digital operating income(1) reconciliation:

Net loss attributable to common stockholders

$ (7,073)

$ (77,902)

$ (10,152)

$ (89,644)

Add back/(deduct) certain non-broadcast and digital
operating income items included in net loss:

Interest and investment income

—

(616)

(8)

(1,582)

Interest expense

2,070

9,704

6,477

20,628

Benefit from income taxes

(1,703)

(21,382)

(3,144)

(5,724)

Corporate selling, general and administrative
expenses(b)

11,370

12,173

22,071

23,657

Stock-based compensation

1,680

574

1,881

1,250

Gain on sale of business

(4,671)

—

(4,671)

—

Gain on retirement of debt

—

(30,297)

(2,080)

(41,884)

Other expense (income), net

(124)

(316)

Depreciation and amortization

6,184

3,523

12,361

5,838

Net income (loss) attributable to non-controlling
interests

(67)

(64)

Impairment of goodwill, intangible assets and long-
lived assets

14,157

130,078

14,157

136,521

Broadcast and digital operating income(1)

$ 22,152

$ 25,664

$ 37,016

$ 48,680

Adjusted EBITDA(2)

$ 11,723

$ 13,960

$ 16,379

$ 26,817

Adjusted EBITDA(2) reconciliation:

Net loss attributable to common stockholders

$ (7,073)

$ (77,902)

$ (10,152)

$ (89,644)

Interest and investment income

—

(616)

(8)

(1,582)

Interest expense

2,070

9,704

6,477

20,628

Benefit from income taxes

(1,703)

(21,382)

(3,144)

(5,724)

Depreciation and amortization

6,184

3,523

12,361

5,838

EBITDA(2)

(522)

(86,673)

5,534

(70,484)

Stock-based compensation

1,680

574

1,881

1,250

Gain on sale of business

(4,671)

—

(4,671)

—

Gain on retirement of debt

—

(30,297)

(2,080)

(41,884)

Other expense (income), net

(124)

(316)

Net income (loss) attributable to non-controlling
interests

(67)

(64)

Corporate costs(c)

856

362

1,215

1,109

Severance-related costs

—

219

Impairment of goodwill, intangible assets and long-
lived assets

14,157

130,078

14,157

136,521

Loss from ceased non-core businesses initiatives

—

107

—

466

Adjusted EBITDA(2)

$ 11,723

$ 13,960

$ 16,379

$ 26,817

(a)

Weighted-average shares outstanding used in the computation of basic and diluted net loss to common stockholders per share have been retroactively adjusted to reflect the 1-for-10 Reverse Stock Split that occurred on January 22, 2026.

(b)

Corporate selling, general and administrative expenses consist of expenses associated with our corporate headquarters and facilities, including personnel as well as other corporate overhead functions.

(c)

Corporate costs primarily include professional fees related to the material weakness remediation efforts as well as legal costs related to acquisition activities.

As of June 30, 2026

As of December 31, 2025

(In thousands)

SELECTED CONSOLIDATED BALANCE SHEET DATA:

Cash and cash equivalents and restricted cash

$ 16,202

$ 26,358

Intangible assets, net(a)

257,116

279,653

Total assets

551,512

592,994

Total long-term debt, net

399,298

429,742

Short-term borrowings under the asset-backed facility

20,000

10,000

Total liabilities

532,284

565,760

Total stockholders’ equity

16,313

24,603

Redeemable non-controlling interests(b)

—

2,631

Non-controlling interests(c)

2,915

—

(a)

Intangible assets, net include Goodwill, net, Radio Broadcasting Licenses, net, Other Intangible Assets, net, and Current Portion of Launch Assets, net.

(b)

On February 25, 2026, Reach Media closed on the Put Interest increasing the Company’s interest in Reach Media to 100.0%. Reach Media paid the last of the non-controlling interest shareholders approximately $1.3 million for the 5.4% interest.

(c)

Non-controlling interests represent the legal ownership of a radio station operated under a Local Programming and Marketing Agreement and Option Agreement under the variable interest entity guidance effective April 1, 2026.

As of June 30, 2026

As of December 31, 2025

(In thousands)

SELECTED LEVERAGE DATA:

10.500% First Lien Senior Secured Notes due 2030(a, c)

$ 60,600

7.625% Second Lien Secured Notes due 2031(a, c)

235,113

291,020

7.375% senior secured notes due February 2028(b)

7,516

11,816

Total principal outstanding on long-term debt

303,229

363,436

Less: Unamortized debt issuance costs

(2,479)

(2,868)

Add: Premium(c)

98,548

69,174

Long-term debt, net

$ 399,298

$ 429,742

Short-term borrowings under the asset-backed facility

$ 20,000

$ 10,000

(a)

The 2030 First Lien Notes and 2031 Second Lien Notes pay interest semiannually on April 1 and October 1 of each year in arrears.

(b)

Subsequent to the effectiveness of the supplemental indenture on December 18, 2025, these notes are no longer secured. While these notes are styled as senior secured notes they are no longer secured by collateral. The 2028 Notes pay interest semiannually on February 1 and August 1 of each year in arrears.

(c)

The 2030 First Lien Notes and 2031 Second Lien Notes are accounted for under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors.

During the three months ended June 30, 2026, the Company repurchased approximately $23.5 million of its 2031 Second Lien Notes at a weighted average price of approximately 42.0% of par. As the 2031 Second Lien Notes are accounted under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors, no gain was recorded. Instead, the Company recorded an additional premium of $13.6 million, which is included in long-term debt, net on the Company’s consolidated balance sheets.

The Company made two additional draws of $5.0 million each for a total of $10.0 million in the second quarter of 2026, payable at an interest rate of approximately 6.75% and 6.01%. After giving effect to the outstanding $20.0 million drawdown and adjustments to account for the Borrowing Base, the Company’s borrowing capacity was approximately $26.1 million as of June 30, 2026.

The Company further made an additional draw of $7.0 million in the third quarter of 2026, payable at an interest rate of approximately 6.12%. The Company repaid the May 2026 draw of $5.0 million on August 2, 2026. After giving effect to the additional draw of $7.0 million, the $5.0 million repayment, and adjustments to account for the Borrowing Base, the Company’s borrowing capacity was approximately $24.1 million.

Dispositions and Acquisitions

In March 2026, the Company entered into agreements to sell its WMXG and WLNK-FM radio broadcasting licenses in Charlotte, North Carolina along with the associated station assets from the Radio Broadcasting segment to unrelated third parties for approximately $0.7 million and $4.2 million, respectively. FCC approval was obtained on May 13, 2026 for the WMXG station and on May 12, 2026 for the WLNK-FM station. The Company completed both sales on June 1, 2026 and recognized a gain of $4.7 million, which is included in Gain On Sale Of Business in the unaudited consolidated statement of operations for the three and six months ended June 30, 2026.

On April 28, 2026, the Company entered into an agreement to acquire Service Broadcasting Group, LLC, including radio stations KKDA and KRNB in Dallas, Texas for $22.0 million. At the same time, the Company also entered into an agreement to sell radio station KZMJ from the Radio Broadcasting segment to Fuzion Dallas, LLC for $6.0 million.

FCC approval was obtained on June 23, 2026 and the Company completed the sale of KZMJ on July 6, 2026. The Company recognized a gain of $3.2 million on the KZMJ disposition in the third quarter of 2026. FCC approval was obtained on June 26, 2026 for the Service Broadcasting Group, LLC acquisition and the acquisition was completed on July 17, 2026.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management’s current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, some of which are beyond Urban One’s control, which may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One’s reports on Forms 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission (the “SEC”). Urban One does not undertake any duty to update any forward-looking statements.

For the three months ended June 30, 2026, we recognized approximately $85.8 million in net revenue compared to approximately $91.6 million during the three months ended June 30, 2025. These amounts are net of agency commissions. We recognized approximately $35.3 million of revenue from our Radio Broadcasting segment during the three months ended June 30, 2026, compared to approximately $36.7 million for the three months ended June 30, 2025, a decrease of approximately $1.4 million. This decrease was primarily driven by weaker overall market demand from the national and local advertisers. We recognized approximately $4.8 million of revenue from our Reach Media segment during the three months ended June 30, 2026, compared to approximately $5.3 million for the three months ended June 30, 2025, a decrease of approximately $0.5 million. This decrease was primarily driven by a decrease in syndicated revenue. We recognized approximately $9.4 million of revenue from our Digital segment during the three months ended June 30, 2026, compared to approximately $10.3 million during the three months ended June 30, 2025, a decrease of approximately $0.9 million. The decrease was primarily driven by the decrease in direct revenue streams, reflecting reduced advertising spend from diversity, equity and inclusion-focused campaigns. We recognized approximately $37.1 million of revenue from our Cable Television segment during the three months ended June 30, 2026, compared to approximately $40.1 million during the three months ended June 30, 2025, a decrease of approximately $3.0 million. The decrease was primarily driven by the churn of subscribers and lower advertising sales.

The following charts indicate the sources of our net revenues for the three and six months ended June 30, 2026:

Three Months Ended June 30,

2026

2025

$ Change

% Change

(In thousands, unaudited)

Net revenue:

Radio advertising

$ 34,732

$ 38,627

$ (3,895)

(10.1) %

Political advertising

1,243

254

989

*NM

Digital advertising

9,386

10,241

(855)

(8.3) %

Cable Television advertising

20,773

22,977

(2,204)

(9.6) %

Cable Television affiliate fees

16,286

17,061

(775)

(4.5) %

Event revenues & other

3,337

2,471

866

35.0 %

Net revenue

$ 85,757

$ 91,631

$ (5,874)

(6.4) %

*NM – Not meaningful

Six Months Ended June 30,

2026

2025

$ Change

% Change

(In thousands, unaudited)

Net revenue:

Radio advertising

$ 66,856

$ 74,844

$ (7,988)

(10.7) %

Political advertising

2,143

404

1,739

*NM

Digital advertising

16,170

20,452

(4,282)

(20.9) %

Cable Television advertising

39,868

48,402

(8,534)

(17.6) %

Cable Television affiliate fees

33,163

35,778

(2,615)

(7.3) %

Event revenues & other

5,208

3,986

1,222

30.7 %

Net revenue

$ 163,408

$ 183,866

$ (20,458)

(11.1) %

*NM – Not meaningful.

Operating expenses, excluding depreciation and amortization, stock-based compensation, and impairment of goodwill, intangible assets and long-lived assets, were approximately $75.0 million for the three months ended June 30, 2026, compared to approximately $78.1 million for the comparable period in 2025. Operating expenses were down by approximately 4.1%, driven mainly by revenue-related variable expenses such as media monitoring, traffic acquisition costs, bad debt reserve, as well as third-party professional fees.

Impairment of goodwill, intangible assets and long-lived assets was approximately $14.2 million for three months ended June 30, 2026, compared to $130.1 million for the three months ended June 30, 2025. The impairment loss of $14.2 million during the three months ended June 30, 2026 represents approximately $13.9 million goodwill impairment charge related to the Reach Media reporting unit and approximately $0.3 million impairment charge related to the long-lived asset of Reach Media.

Depreciation and amortization expense was approximately $6.2 million for the three months ended June 30, 2026, compared to approximately $3.5 million for the three months ended June 30, 2025, an increase of approximately $2.7 million. This increase is primarily driven by the Radio Broadcasting licenses amortization, which the Company started to amortize effective June 1, 2025.

Interest expense was approximately $2.1 million for the three months ended June 30, 2026, compared to approximately $9.7 million for the three months ended June 30, 2025, a decrease of approximately $7.6 million. This decrease was due to lower overall debt balances outstanding and lower effective interest rates. The Company recognizes interest expense using an effective interest rate of approximately 5.32% on the 2030 First Lien Notes, 0.15% on the 2031 Second Lien Notes, and 7.71% on the 2028 Notes for the three months ended June 30, 2026. The effective interest rates on the 2030 First Lien Notes and 2031 Second Lien Notes differ from the contractual interest payment primarily as a result of the accounting for these debt instruments under Accounting Standards Codification No. 470-60, Troubled Debt Restructurings by Debtors.

For the three months ended June 30, 2026, we recorded a benefit from income taxes of approximately $1.7 million on the pre-tax loss of approximately $8.7 million resulting in an actual effective tax rate of 19.6%. For the three months ended June 30, 2025, we recorded a benefit from income taxes of approximately $21.4 million on pre-tax loss of approximately $99.4 million resulting in an actual effective tax rate of 21.5%, which includes $6.4 million of discrete tax expense related to the change of accounting estimate for radio broadcasting licenses that impacted our valuation allowance.

Other pertinent financial information includes capital expenditures of approximately $1.7 million and $1.2 million for the three months ended June 30, 2026 and 2025, respectively. The increase in capital expenditure is driven by the build-out of a studio in the Indianapolis radio market.

Supplemental Financial Information:

For comparative purposes, the following more detailed statements of operations for the three and six months ended June 30, 2026 are included.

Three Months Ended June 30, 2026

(In thousands, unaudited)

Consolidated

Radio

Broadcasting

Reach

Media

Digital

Cable

Television

All Other –

Corporate/

Eliminations

NET REVENUE

$ 85,757

$ 35,276

$ 4,754

$ 9,397

$ 37,121

$ (791)

OPERATING EXPENSES:

Programming and technical

29,774

10,910

3,203

3,127

12,704

(170)

Selling, general and
administrative

45,201

18,365

2,578

6,372

10,213

7,673

Stock-based compensation

1,680

781

817

Depreciation and amortization

6,184

4,919

379

674

189

Impairment of goodwill,
intangible assets and long-lived
assets

14,157

—

14,157

—

Total operating expenses

96,996

34,238

19,974

9,903

24,372

8,509

Operating (loss) income

(11,239)

1,038

(15,220)

(506)

12,749

(9,300)

INTEREST EXPENSE

(2,070)

(2)

—

(2,068)

GAIN ON SALE OF
BUSINESS

4,671

—

OTHER EXPENSE, NET

(43)

—

(Loss) income before benefit
from (provision for) income
taxes

(8,681)

5,664

(15,220)

(506)

12,749

(11,368)

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

1,703

(1,513)

515

115

(2,790)

5,376

NET (LOSS) INCOME

(6,978)

4,151

(14,705)

(391)

9,959

(5,992)

NET INCOME
ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(7,073)

4,056

(14,705)

(391)

9,959

(5,992)

Adjusted EBITDA(2)

$ 11,723

$ 6,288

$ (1,027)

$ (92)

$ 14,205

$ (7,651)

Three Months Ended June 30, 2025

(In thousands, unaudited)

Consolidated

Radio

Broadcasting

Reach

Media

Digital

Cable

Television

All Other –

Corporate/

Eliminations

NET REVENUE

$ 91,631

$ 36,693

$ 5,315

$ 10,254

$ 40,070

$ (701)

OPERATING EXPENSES:

Programming and technical

28,647

9,993

3,178

3,267

12,372

(163)

Selling, general and
administrative

49,493

19,762

3,788

7,133

9,642

9,168

Stock-based compensation

574

133

201

144

Depreciation and amortization

3,523

2,278

393

675

144

Impairment of goodwill and
intangible assets

130,078

125,187

—

4,891

—

Total operating expenses

212,315

157,353

7,022

15,757

22,890

9,293

Operating (loss) income

(120,684)

(120,660)

(1,707)

(5,503)

17,180

(9,994)

INTEREST AND INVESTMENT
INCOME

616

—

616

INTEREST EXPENSE

(9,704)

(2)

(145)

—

(9,557)

GAIN ON RETIREMENT OF
DEBT

30,297

—

30,297

OTHER INCOME, NET

124

108

—

(Loss) income before benefit
from (provision for) income taxes

(99,351)

(120,554)

(1,852)

(5,503)

17,180

11,378

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

21,382

28,579

1,792

(3,693)

(5,309)

NET (LOSS) INCOME

(77,969)

(91,975)

(1,839)

(3,711)

13,487

6,069

NET LOSS ATTRIBUTABLE
TO NON-CONTROLLING
INTERESTS

(67)

—

(67)

—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(77,902)

(91,975)

(1,772)

(3,711)

13,487

6,069

Adjusted EBITDA(2)

$ 13,960

$ 6,938

$ (1,651)

$ (146)

$ 18,056

$ (9,237)

Six Months Ended June 30, 2026

(In thousands, unaudited)

Consolidated

Radio

Broadcasting

Reach

Media

Digital

Cable

Television

All Other –

Corporate/

Eliminations

NET REVENUE

$ 163,408

$ 65,811

$ 9,614

$ 16,185

$ 73,153

$ (1,355)

OPERATING EXPENSES:

Programming and technical

59,779

22,516

6,286

6,168

25,150

(341)

Selling, general and
administrative

88,684

35,524

4,957

11,486

20,854

15,863

Stock-based compensation

1,881

781

938

Depreciation and amortization

12,361

9,799

775

1,348

383

Impairment of goodwill,
intangible assets and long-lived
assets

14,157

—

14,157

—

Total operating expenses

176,862

67,926

25,481

18,479

48,133

16,843

Operating (loss) income

(13,454)

(2,115)

(15,867)

(2,294)

25,020

(18,198)

INTEREST AND
INVESTMENT INCOME

—

INTEREST EXPENSE

(6,477)

(4)

—

(6,473)

GAIN ON SALE OF
BUSINESS

4,671

—

GAIN ON RETIREMENT OF
DEBT

2,080

—

2,080

OTHER (EXPENSE) INCOME,
NET

(51)

(46)

—

(15)

—

(Loss) income before benefit
from (provision for) income
taxes

(13,223)

2,506

(15,867)

(2,309)

25,020

(22,573)

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

3,144

(737)

657

503

(5,467)

8,188

NET (LOSS) INCOME

(10,079)

1,769

(15,210)

(1,806)

19,553

(14,385)

NET INCOME (LOSS)
ATTRIBUTABLE TO NON-
CONTROLLING INTERESTS

(22)

—

NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON STOCKHOLDERS

(10,152)

1,674

(15,188)

(1,806)

19,553

(14,385)

Adjusted EBITDA(2)

$ 16,379

$ 8,107

$ (1,555)

$ (1,454)

$ 27,149

$ (15,868)

Six Months Ended June 30, 2025

(In thousands, unaudited)

Consolidated

Radio

Broadcasting

Reach

Media

Digital

Cable

Television

All Other –

Corporate/

Eliminations

NET REVENUE

$ 183,866

$ 69,303

$ 11,168

$ 20,466

$ 84,263

$ (1,334)

OPERATING EXPENSES:

Programming and technical

59,245

21,286

6,546

6,454

25,281

(322)

Selling, general and
administrative

99,598

38,358

6,939

14,104

22,333

17,864

Stock-based compensation

1,250

241

158

489

316

Depreciation and amortization

5,838

3,274

779

1,390

328

Impairment of goodwill and
intangible assets

136,521

131,630

—

4,891

—

Total operating expenses

302,452

194,789

13,598

26,386

49,493

18,186

Operating (loss) income

(118,586)

(125,486)

(2,430)

(5,920)

34,770

(19,520)

INTEREST AND
INVESTMENT INCOME

1,582

—

1,582

INTEREST EXPENSE

(20,628)

(4)

(145)

—

(20,479)

GAIN ON RETIREMENT OF
DEBT

41,884

—

41,884

OTHER INCOME, NET

316

108

—

208

(Loss) income before benefit
from (provision for) income
taxes

(95,432)

(125,382)

(2,575)

(5,920)

34,770

3,675

BENEFIT FROM (PROVISION
FOR) INCOME TAXES

5,724

29,669

(3)

2,184

(7,575)

(18,551)

NET (LOSS) INCOME

(89,708)

(95,713)

(2,578)

(3,736)

27,195

(14,876)

NET LOSS ATTRIBUTABLE
TO NON-CONTROLLING
INTERESTS

(64)

—

(64)

—

NET (LOSS) INCOME
ATTRIBUTABLE TO COMMON
STOCKHOLDERS

(89,644)

(95,713)

(2,514)

(3,736)

27,195

(14,876)

Adjusted EBITDA(2)

$ 26,817

$ 9,786

$ (2,202)

$ (88)

$ 36,648

$ (17,327)

Urban One, Inc. will hold a conference call to discuss its results for the second fiscal quarter of 2026. The conference call is scheduled for Tuesday, August 4, 2026 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free (+1) 800-715-9871; international callers may dial direct (+1) 646-307-1963. The Access Code is 3701023.

A replay of the conference call will be available from 2:00 p.m. EDT August 4, 2026 until 11:59 p.m. EDT August 11, 2026. Callers may access the replay by calling (+1) 800-770-2030; international callers may dial direct (+1) 609-800-9909. The replay Access Code is 3701023.

Access to live audio and a replay of the conference call will also be available on Urban One’s corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call.

Urban One Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 30 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform, and inspire a diverse audience of adult Black viewers. As of July 31, 2026, following the Service Broadcasting Group, LLC acquisition, the Company owned and/or operated 76 independently formatted, revenue producing broadcast stations (including 59 FM or AM stations, 15 HD stations, and the 2 low power television stations the Company operates), located in 13 of the most populous African-American markets in the United States. Through Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African American community through social content, news, information, and entertainment websites, including its Cassius, 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 the African American and urban audiences.

Notes:

“Broadcast and digital operating income”: The radio broadcasting industry commonly refers to “station operating income” which consists of net loss before depreciation and amortization, income taxes, interest expense, interest and investment income, non-controlling interests in income of subsidiaries, other income, net, loss from unconsolidated joint venture, corporate selling, general and administrative expenses, stock-based compensation, impairment of goodwill and intangible assets, and (gain) loss on retirement of debt. However, given the diverse nature of our business, station operating income is not truly reflective of our multi-media operation and, therefore, we use the term “broadcast and digital operating income.” Broadcast and digital operating income is not a measure of financial performance under GAAP. Nevertheless, broadcast and digital operating income is a significant measure used by our management to evaluate the operating performance of our core operating segments. Broadcast and digital operating income provides helpful information about our results of operations, apart from expenses associated with our fixed assets and goodwill and intangible assets, income taxes, investments, impairment charges, debt financings and retirements, corporate overhead and stock-based compensation. Our measure of broadcast and digital operating income is similar to industry use of station operating income; however, it reflects our more diverse business and therefore is not completely analogous to “station operating income” or other similarly titled measures as used by other companies. Broadcast and digital operating income does not represent operating income or loss, or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as an alternative to those measurements as an indicator of our performance.

“Adjusted EBITDA”: Adjusted EBITDA consists of net (loss) income plus (1) depreciation and amortization, income taxes, interest expense, net income attributable to non-controlling interests, impairment of goodwill, intangible assets and long lived assets, stock-based compensation, gain on sale of business, (gain) loss on retirement of debt, corporate costs, non-recurring litigation settlement costs, non-recurring debt refinancing costs, severance-related costs, investment income, loss from ceased non-core business initiatives less (2) other income, net and interest and investment income. Net (loss) income before interest income, interest expense, income taxes, depreciation and amortization is commonly referred to in our business as “EBITDA.” Adjusted EBITDA and EBITDA are not measures of financial performance under GAAP. We believe Adjusted EBITDA is often a useful measure of a company’s operating performance and is a significant measure used by our management to evaluate the operating performance of our business. Accordingly, based on the previous description of Adjusted EBITDA, we believe that it provides useful information about the operating performance of our business, apart from the expenses associated with our fixed assets and goodwill and intangible assets, or capital structure. Adjusted EBITDA is frequently used as one of the measures for comparing businesses in the broadcasting industry, although our measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including, but not limited to the fact that our definition includes the results of all four of our operating segments (Radio Broadcasting, Reach Media, Digital, and Cable Television). Business activities unrelated to these four segments are included in an “all other” category which the Company refers to as “All other – corporate/eliminations.” Adjusted EBITDA and EBITDA do not purport to represent operating income or cash flow from operating activities, as those terms are defined under GAAP, and should not be considered as alternatives to those measurements as an indicator of our performance.

For the three months ended June 30, 2026 and 2025, Urban One had 4,470,542 and 4,473,831 shares of common stock outstanding on a weighted average basis (basic), respectively. For the six months ended June 30, 2026 and 2025 Urban One had 4,460,275 and 4,476,828 shares of common stock outstanding on a weighted average basis (basic), respectively.

For the three months ended June 30, 2026 and 2025, Urban One had 4,470,542 and 4,473,831 shares of common stock outstanding on a weighted average basis (fully diluted for outstanding stock awards), respectively. For the six months ended June 30, 2026 and 2025 Urban One had 4,460,275 and 4,476,828 shares of common stock outstanding on a weighted average basis (basic), respectively.

View original content to download multimedia:https://www.prnewswire.com/news-releases/urban-one-inc-reports-second-quarter-2026-results-302841724.html

SOURCE Urban One, Inc.

Technology

Atomic Object Selected as Finalist for 2026 NC TECH Awards

Published

18 minutes ago

November 9, 2026

RALEIGH, N.C., Nov. 9, 2026 /PRNewswire/ — Atomic Object has been selected as a finalist for the NC Tech Awards Software Solutions award. The NC TECH Awards is North Carolina’s only statewide technology awards program that recognizes innovation, growth and leadership in the tech sector and is presented by the NC TECH (North Carolina Technology Association). Winners will be announced November 16 at the Sheraton in Durham.

Since entering the Raleigh market in 2022, Atomic Object has been recognized as one of the area’s top software development partners. The finalist nod reflects the trust the Raleigh team has built with Triangle startups and enterprise clients. That momentum led the office to move from a coworking space into a 6,000-square-foot suite in downtown Raleigh in 2025.

The majority female Raleigh office is led by Managing Partners, Taylor Vanden Hoek and Ryan Abel. Vanden Hoek and Abel have partnered with the Downtown Raleigh Alliance, Digital Health Institute for Transformation, and Duke University’s Pratt School of Engineering.

“For over 20 years, NC TECH has celebrated companies, organizations and individuals for outstanding achievement at the NC TECH Awards. As a finalist this year, Atomic Object has distinguished itself as one of the state’s innovative and emergent leaders,” stated Michelle Calton, NC TECH’s Interim CEO.

“When we opened our Raleigh office in 2022, we knew earning a place in this community would take time. Being named an NC TECH Awards finalist tells us Atomic Object has put down real roots in the Triangle, and we’re proud of the team and the clients who helped us get here,” said Taylor Vanden Hoek, Managing Partner of Atomic Object Raleigh.

About NC TECH

NC TECH is a not-for-profit, membership-driven trade association and the primary voice of the technology industry in North Carolina. NC TECH’s membership includes more than 600 member companies, organizations and institutions employing more than 250,000 workers in North Carolina. Visit nctech.org.

About Atomic Object

Atomic Object is an employee-owned custom software design and development consultancy founded in 2001. Its teams of designers, developers and delivery leads build web, mobile, desktop, IoT, cloud and AI-powered software for clients in healthcare, financial services, education, and insurance. The Raleigh office is located in the heart of downtown on Fayetteville Street. Visit atomicobject.com.

View original content:https://www.prnewswire.com/news-releases/atomic-object-selected-as-finalist-for-2026-nc-tech-awards-302932797.html

SOURCE Atomic Object

Technology

Ceva, Inc. Announces Third Quarter 2026 Financial Results

Published

18 minutes ago

November 9, 2026

18% sequential royalty revenue growth and record AI licensing revenues, with multi-year smartphone modem ramp ahead

ROCKVILLE, Md., Nov. 9, 2026 /PRNewswire/ — Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP for the Smart Edge, today announced its financial results for the third quarter ended September 30, 2026.

Third Quarter Highlights: *

Total revenues of $29.1 million, up 2% YoY.Licensing and related revenues of $16.3 million, up 2% YoY.Record AI licensing revenues, accounting for more than 35% of total licensing and related revenues.Royalty revenues of $12.7 million, up 3% YoY and 18% sequentially.623 million Ceva-powered devices shipped by customers, matching all-time quarterly record, including record cellular IoT and Wi-Fi 6 shipments.

*Unless otherwise stated, all comparisons are to the third quarter 2025.

Amir Panush, Chief Executive Officer of Ceva, commented, “We continued to grow our business in the third quarter, with 18% sequential royalty revenue growth and Ceva-powered device shipments matching our all-time quarterly record. In licensing, we achieved our highest-ever AI licensing revenues and expanded our relationships with three of our highest-volume connectivity customers, building a broader base of potential future royalty-generating products.

“The continued ramp of internally developed modems at a major U.S. customer is creating a multi-year smartphone royalty growth opportunity through 2027 and beyond. We are also extending our AI business into infrastructure applications and moving closer to initial NPU royalties. Together, we believe these developments reinforce the long-term growth potential of our Connect, Sense and Infer portfolio.”

Business and Market Highlights
During the quarter, Ceva signed 10 IP licensing agreements, including three with first-time customers. Six were for AI technologies, including one with a new customer targeting AI infrastructure, and Edge AI agreements targeting consumer, automotive and industrial markets.

In wireless connectivity, three of Ceva’s highest-volume customers extended their agreements for multiple years and added more Ceva IP, including one adding Wi-Fi 6 and Wi-Fi 7 to its existing Bluetooth and DSP deployments. In sensing, Ceva expanded its presence in smart TVs with a customer targeting advanced motion-based interaction.

Other Third Quarter Financial Data: *

GAAP gross margin was 85%, as compared to GAAP gross margin of 88%GAAP operating loss was $3.5 million, as compared to a GAAP operating loss of $2.1 millionGAAP net loss was $2.3 million, as compared to a GAAP net loss of $2.5 millionGAAP diluted loss per share was $0.08, as compared to GAAP diluted loss per share of $0.10Non-GAAP gross margin was 86%, as compared to non-GAAP gross margin of 89%Non-GAAP operating income was $2.5 million, as compared to non-GAAP operating income of $3.1 millionNon-GAAP net income and non-GAAP diluted earnings per share were $3.8 million and $0.13, respectively, as compared to non-GAAP net income and non-GAAP diluted earnings per share of $2.7 million and $0.11, respectively

*Unless otherwise stated, all comparisons are to the third quarter 2025.

Yaniv Arieli, Chief Financial Officer of Ceva, added, “Royalty revenues grew 18% sequentially, led by the ramp of internally developed modems at a major U.S. customer and continued strength in broad-based IoT and connectivity, partially offset by memory-related softness in compute-intensive consumer devices. A significant multi-year connectivity agreement we expected in the third quarter was signed early in the fourth quarter. With a robust licensing pipeline and a step-up in smartphone royalties, we expect a strong fourth quarter on both the top and bottom lines.”

Ceva Conference Call

On November 9, 2026, Ceva management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter.

The conference call will be available via the following dial-in numbers:

U.S. Participants: Dial +1 844-435-0316 (Access Code: Ceva)International Participants: Dial +1 412-317-6365 (Access Code: Ceva)

The conference call will also be available live via webcast at the following link: https://app.webinar.net/oKLP6DwbXyv. Please go to the website at least fifteen minutes prior to the call to register.

For those who cannot access the live broadcast, a replay will be available by dialing +1 855-669-9658 or +1 412-317-0088 (access code: 7028120) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on November 16, 2026. The replay will also be available at Ceva’s website at www.ceva-ip.com.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they materialize or prove incorrect, could cause the results of Ceva to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include statements about Ceva’s positioning for future growth and to serve as a foundational technology provider for intelligent, connected devices, licensing agreement wins, future industry demand, our market position for the future and future growth in the demand for our products, our forecast of financial measures for the following quarter and 2026, our long-term targets and underlying assumptions, our future investments, expectations about future markets, the success of our strategies and agreements, visibility into future revenue streams, and Ceva’s focus on expense management and profitability improvement. The risks, uncertainties and assumptions that could cause differing Ceva results include: the effect of intense industry competition; the ability of Ceva’s technologies and products incorporating Ceva’s technologies to achieve market acceptance; Ceva’s ability to meet changing needs of end-users and evolving market demands; the lengthy sales cycle for IP and related solutions; Ceva’s ability to diversify royalty streams and license revenues; geopolitical risks and instability, including the impact of tariffs and other trade measures and potential disruptions related to ongoing conflicts in the Middle East; and general market conditions and other risks relating to Ceva’s business and industry, including, but not limited to, those that are described from time to time in our SEC filings. Ceva assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

About Ceva, Inc.
Ceva powers the Smart Edge, bridging the digital and physical worlds to bring AI-driven products to life. Our Ceva AI fabric portfolio of silicon and software IP enables devices to Connect, Sense, and Infer – the essential capabilities for the intelligent edge. From 5G, cellular IoT, Bluetooth, Wi-Fi, and UWB connectivity to scalable Edge AI NPUs, AI DSPs, sensor fusion processors and embedded software, Ceva provides the foundational IP for devices that connect, understand their environment, and act in real time.

With more than 23 billion devices shipped and trusted by 400+ customers worldwide, Ceva is the backbone of today’s most advanced smart edge products—from AI-infused wearables and IoT devices to autonomous vehicles and 5G infrastructure. Our differentiated solutions deliver seamless integration into existing design flows, total flexibility to combine solutions based on design needs and ultra‑low‑power performance in a minimal silicon footprint, helping customers accelerate development, reduce risk, and bring innovative products to market faster. As technology evolves toward Physical AI, Ceva’s IP portfolio lays the foundation for systems that are always connected, contextually aware, and capable of intelligent, real-time decision-making.

Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.

For more information, contact:

Yaniv Arieli

Ceva, Inc.

CFO

+972.9.961.3770

yaniv.arieli@ceva-ip.com

Richard Kingston

Ceva, Inc.

VP Market Intelligence, Investor & Public Relations

+1.650.220.1948

richard.kingston@ceva-ip.com

CEVA, INC. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS – U.S. GAAP

U.S. dollars in thousands, except per share data

Three months ended

Nine months ended

September 30,

2026

2025

2026

2025

Unaudited

Revenues:

Licensing and related revenues

$ 16,338

$ 16,028

$ 52,379

$ 46,092

Royalties

12,725

12,356

32,741

32,215

Total revenues

29,063

28,384

85,120

78,307

Cost of revenues

4,252

3,392

11,627

10,428

Gross profit

24,811

24,992

73,493

67,879

Operating expenses:

Research and development, net

18,128

19,532

57,297

55,899

Sales and marketing

3,935

3,012

10,980

9,783

General and administrative

6,154

4,383

15,557

12,697

Amortization of intangible assets

110

149

336

448

Total operating expenses

28,327

27,076

84,170

78,827

Operating loss

(3,516)

(2,084)

(10,677)

(10,948)

Financial income, net

2,301

1,245

5,156

5,466

Remeasurement of marketable equity securities

(16)

(261)

Loss before taxes on income

(1,231)

(838)

(5,449)

(5,743)

Income tax expense

1,070

1,671

4,221

3,797

Net loss

$ (2,301)

$ (2,509)

$ (9,670)

$ (9,540)

Basic and diluted net loss per share

$ (0.08)

$ (0.10)

$ (0.35)

$ (0.40)

Weighted-average shares used to compute net loss
per share (in thousands):

Basic and diluted

28,323

23,942

28,001

23,869

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

U.S. dollars in thousands, except per share data

Three months ended

Nine months ended

September 30,

2026

2025

2026

2025

Unaudited

GAAP net loss

(2,301)

(2,509)

(9,670)

(9,540)

Equity-based compensation expense included in cost of
revenues

173

168

533

493

Equity-based compensation expense included in research
and development expenses

2,130

2,639

7,651

7,778

Equity-based compensation expense included in sales
and marketing expenses

880

571

2,310

1,735

Equity-based compensation expense included in general
and administrative expenses

1,809

1,495

5,041

4,092

Amortization of intangible assets related to acquisition of
businesses

168

208

302

625

Acquisition and deal-related costs

893

145

1,014

433

Loss (income) associated with the remeasurement of
marketable equity securities

(1)

(72)

261

Non-GAAP net income

3,768

2,716

7,109

5,877

GAAP weighted-average number of Common Stock used
in computation of diluted net loss per share (in
thousands)

28,323

23,942

28,001

23,869

Weighted-average number of shares related to
outstanding stock-based awards (in thousands)

1,579

1,763

1,733

1,714

Non-GAAP weighted-average number of
Common Stock used in computation of diluted earnings
per share (in thousands)

29,902

25,705

29,734

25,583

GAAP diluted loss per share

(0.08)

(0.10)

(0.35)

(0.40)

Equity-based compensation expense

$ 0.18

$ 0.19

$ 0.54

$ 0.57

Amortization of intangible assets related to acquisition of
businesses

$ 0.00

$ 0.01

$ 0.03

Acquisition and deal-related costs

$ 0.03

$ 0.01

$ 0.04

$ 0.02

Loss (income) associated with the remeasurement of
marketable equity securities

$ 0.00

$ 0.01

Non-GAAP diluted earnings per share

$ 0.13

$ 0.11

$ 0.24

$ 0.23

Three months ended

Nine months ended

September 30,

2026

2025

2026

2025

Unaudited

GAAP operating loss

$ (3,516)

$ (2,084)

$ (10,677)

$ (10,948)

Equity-based compensation expense included in cost of
revenues

173

168

533

493

Equity-based compensation expense included in research
and development expenses

2,130

2,639

7,651

7,778

Equity-based compensation expense included in sales
and marketing expenses

880

571

2,310

1,735

Equity-based compensation expense included in general
and administrative expenses

1,809

1,495

5,041

4,092

Amortization of intangible assets related to acquisition of
businesses

168

208

302

625

Acquisition and deal-related costs

893

145

1,014

433

Total non-GAAP operating income

$ 2,537

$ 3,142

$ 6,174

$ 4,208

Three months ended

Nine months ended

September 30,

2026

2025

2026

2025

Unaudited

GAAP gross profit

$ 24,811

$ 24,992

$ 73,493

$ 67,879

GAAP gross margin

85 %

88 %

86 %

87 %

Equity-based compensation expense included in cost of
revenues

173

168

533

493

Amortization of intangible assets related to acquisition of
businesses

(34)

177

Total non-GAAP gross profit

$ 25,042

$ 25,219

$ 73,992

$ 68,549

Non-GAAP gross margin

86 %

89 %

87 %

88 %

Three months ended

Nine months ended

September 30,

2026

2025

2026

2025

Unaudited

GAAP operating expenses

$ 28,327

$27,076

$84,170

$ 78,827

Equity-based compensation expense included in
research and development expenses

(2,130)

(2,639)

(7,651)

(7,778)

Equity-based compensation expense included in sales
and marketing expenses

(880)

(571)

(2,310)

(1,735)

Equity-based compensation expense included in
general and administrative expenses

(1,809)

(1,495)

(5,041)

(4,092)

Amortization of intangible assets related to acquisition
of businesses

(110)

(149)

(336)

(448)

Acquisition and deal-related costs

(893)

(145)

(1,014)

(433)

Total non-GAAP operating expenses

$ 22,505

$ 22,077

$ 67,818

$ 64,341

CEVA, INC. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

September 30,

December 31,

2026

2025 (*)

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$ 29,608

$ 40,586

Marketable securities and short-term bank deposits

191,072

181,397

Trade receivables, net

17,806

19,495

Unbilled receivables

28,683

29,860

Prepaid expenses and other current assets

14,235

13,498

Total current assets

281,404

284,836

Long-term assets:

Severance pay fund

6,901

7,530

Deferred tax assets, net

303

257

Property and equipment, net

9,161

7,054

Operating lease right-of-use assets

16,727

17,486

Investment in marketable equity securities

127

Goodwill

58,308

Intangible assets, net

532

1,044

Other long-term assets

17,148

11,686

Total assets

$ 390,611

$ 388,256

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Trade payables

$ 1,243

$ 2,418

Deferred revenues

3,444

3,496

Accrued expenses and other payables

18,378

21,026

Operating lease liabilities

2,797

1,743

Total current liabilities

25,862

28,683

Long-term liabilities:

Accrued severance pay

7,113

7,690

Operating lease liabilities

14,040

14,388

Other accrued liabilities

1,224

1,037

Total liabilities

48,239

51,798

Stockholders’ equity:

Common stock

Additional paid-in capital

354,941

337,966

Treasury stock

(1,591)

Accumulated other comprehensive income (loss)

(2,904)

Accumulated deficit

(9,694)

(24)

Total stockholders’ equity

342,372

336,458

Total liabilities and stockholders’ equity

$ 390,611

$ 388,256

(*) Derived from audited financial statements.

The Company believes that the presentation of non-GAAP measures in the press release is useful to investors in analyzing the results for the quarters ended September 30, 2026, and 2025 because the exclusion of the applicable expenses may provide a meaningful analysis of the Company’s core operating results and comparison of quarterly results. Further, the Company believes it is useful for investors to understand how the expenses associated with the application of FASB ASC No. 718 are reflected in its statements of loss. The reconciliation of financial measures should be reviewed in addition to and in conjunction with results presented in accordance with GAAP and is intended to provide additional insight into the Company’s operations that, when viewed with its GAAP results and the accompanying reconciliation, offers a more complete understanding of factors and trends affecting the Company’s business. The reconciliation of financial measures should not be viewed as a substitute for the Company’s reported GAAP results.

A reconciliation of non-GAAP guidance to the corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to the Company’s results computed in accordance with GAAP.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ceva-inc-announces-third-quarter-2026-financial-results-302932918.html

SOURCE Ceva, Inc.

Technology

Quest Global acquires Tests Assured to strengthen advanced wearables engineering and testing capabilities

Published

18 minutes ago

November 9, 2026

The acquisition aims to expand Quest Global’s engineering capabilities for wearable products in the high-tech consumer space

BANGALORE, India and WINDSOR, Conn., Nov. 9, 2026 /CNW/ — Quest Global Engineering Services Limited today announced the acquisition of Tests Assured, a US-based company specializing in quality assurance and technology-enabled testing for immersive products, smart devices, wearables, and related hardware and software platforms. With this acquisition, Quest Global aims to strengthen its ability to deliver engineering solutions for wearable products in the high-tech consumer space. Tests Assured brings established expertise in quality assurance and technology-enabled testing and a strong presence among global wearable-device companies, further reinforcing Quest Global’s position as a trusted engineering partner in the wearables industry.

“Wearable technology is becoming more sophisticated by the day, bringing together complex hardware, software, AI and human interaction. Tests Assured brings deep expertise in validating these experiences. It complements our engineering capabilities and strengthens our ability to support customers across the product lifecycle. This acquisition marks an important step in our goal to expand our capabilities and deepens the expertise we bring to customers across the wearable’s ecosystem,” said Ajit Prabhu, Co-Founder and CEO, Quest Global.

“Joining Quest Global represents an exciting new chapter for Tests Assured. We have built our success on technical excellence, strong client relationships, and the dedication of our talented team. By bringing together our expertise in quality assurance and emerging technologies with Quest Global’s global engineering capabilities, we aim to expand our reach, accelerate innovation, and create new opportunities for our employees and customers. I am incredibly proud of what we have accomplished and excited about what we can achieve together,” said Imad Abdelgawad, Founder and CEO, Tests Assured.

Founded in 2018, Tests Assured is headquartered in San Jose, California. Its domain expertise spans AR/VR/XR and smart-glasses testing, biometric validation, human-interaction modeling, computer-vision data collection, consumer software, and AI-enabled devices. Together, Quest Global and Tests Assured will aim to build on their combined strengths to expand solutions for existing customers and pursue new opportunities in the hi-tech and semiconductor industry.

About Quest Global

Quest Global is a global engineering services company that supports customers across a range of industries, including Aerospace & Defense, Automotive, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor. The company operates in more than 22 countries with 96 delivery centers and more than 23,000 employees worldwide.

For more information, visit https://www.questglobal.com/.

About Tests Assured

Tests Assured is a specialized provider of quality assurance talent and technology-enabled testing services for immersive products, smart devices, wearables, and related hardware and software platforms. Founded in 2018 by Imadeddin “Imad” Abdelgawad, the company is headquartered in San Jose, California and operates from a 23,500 sq. ft. facility supporting QA operations, XR and wearable testing, TA Studios, training, and management. Its delivery footprint includes on-site teams in Burlingame, California, Redmond, Washington, and New York, together with remote delivery from San Jose.

View original content to download multimedia:https://www.prnewswire.com/news-releases/quest-global-acquires-tests-assured-to-strengthen-advanced-wearables-engineering-and-testing-capabilities-302933015.html

SOURCE Quest Global