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URBAN ONE, INC. REPORTS SECOND QUARTER 2026 RESULTS

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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)

(Unaudited)

CONSOLIDATED STATEMENTS OF
OPERATIONS

(In thousands, except share data)

(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

8

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

95

(67)

73

(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

85

51

—

10

—

24

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

99

72

16

—

32

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

77

114

3

(1)

26

Other costs

1,575

50

1

1

—

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)

(Unaudited)

PER SHARE DATA – basic and diluted:

(In thousands, except per share
data)

(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

43

(124)

51

(316)

Depreciation and amortization

6,184

3,523

12,361

5,838

Net income (loss) attributable to non-controlling
interests

95

(67)

73

(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

43

(124)

51

(316)

Net income (loss) attributable to non-controlling
interests

95

(67)

73

(64)

Corporate costs(c)

856

362

1,215

1,109

Severance-related costs

85

—

219

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

$                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

44

13

25

781

817

Depreciation and amortization

6,184

4,919

23

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

4,671

—

—

—

—

OTHER EXPENSE, NET

(43)

(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

95

95

—

—

—

—

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

23

73

201

144

Depreciation and amortization

3,523

2,278

33

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

—

—

—

16

(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

13

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

87

25

50

781

938

Depreciation and amortization

12,361

9,799

56

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

8

—

—

—

—

8

INTEREST EXPENSE

(6,477)

(4)

—

—

—

(6,473)

GAIN ON SALE OF
BUSINESS

4,671

4,671

—

—

—

—

GAIN ON RETIREMENT OF
DEBT

2,080

—

—

—

—

2,080

OTHER (EXPENSE) INCOME,
NET

(51)

(46)

—

(15)

—

10

(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

73

95

(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

46

158

489

316

Depreciation and amortization

5,838

3,274

67

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:

1

“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.

2

“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.

3

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.

4

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.

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SOURCE Urban One, Inc.

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MetaOptics Secures up to US$10 Million Investment Facility from White Lion Capital, Its First U.S. Institutional Investor, to Onshore Metalens Technology into the U.S.

Published

42 minutes ago

on

September 21, 2026

By

SINGAPORE, Sept. 20, 2026 /PRNewswire/ — MetaOptics Ltd (Catalist: 9MT) (“MetaOptics” or the “Company”, and together with its subsidiaries, the “Group”), a leading-edge semiconductor optics company pioneering metalens technology, today announced that it has secured an investment facility of up to US$10 million from White Lion Capital LLC (“White Lion”), pursuant to a warrant deed entered into with White Lion, under which the Company may, upon exercise of the warrants by the holder at its discretion, raise up to US$10 million through the issuance of up to 40,000,000 new ordinary shares of the Company. White Lion, based in Los Angeles, California, is the first institutional investor in the United States (“U.S.”) to participate in and invest in MetaOptics’ growth story, a strong validation of MetaOptics’ technology, solutions and commercialisation roadmap.

The investment comes one year after MetaOptics’ listing on the Catalist board of the Singapore Exchange. It follows a period of strong commercial momentum, with design and evaluation requests from world-class customers and sampling units shipped. White Lion’s participation extends the Company’s investor base beyond Asia into the U.S., its largest end market.

The proceeds of up to US$10 million, upon exercise of the warrants, will accelerate MetaOptics’ expansion in the U.S.. White Lion’s investment will not just support ongoing projects with U.S. customers across consumer devices, co-packaged optics (“CPO”) and optical interconnects, but more importantly, fund the establishment of the Group’s maiden front-end semiconductor fabrication line with 12-inch DUV immersion photolithography equipment in the U.S., for the mass production of metalenses and module. The establishment of the Group’s maiden front-end semiconductor fabrication line will not only onshore key metalens design, manufacturing and testing into the U.S., bringing such capabilities closer to U.S. customers, but also provide a shorter and clearer roadmap to securing purchase orders for the mass production of metalenses and modules.

The U.S. is a key market for metalens adoption, driven by consumer electronics, AR/VR wearables, automotive sensing and the multi-billion dollar CPO industry serving AI data centres. MetaOptics is currently working with several U.S. foundries to integrate its metalenses into their CPO designs. The smallest CPO metalens designed by MetaOptics measures 0.1 mm. The design can be scaled to a 12-inch semiconductor photolithography process on glass substrates, which is key to mass production.

“Securing our first U.S. institutional investor is an important step for MetaOptics,” said Mr Thng Chong Kim, Executive Chairman of MetaOptics. “Many of our most important customers are in the U.S., from consumer device brands to the companies building CPO and optical interconnects for AI data centres. This funding allows us to move faster on their projects and to onshore key metalens technology into the U.S..”

“MetaOptics is one of the few companies in the world that can design, mass-produce and test glass-based metalenses at scale,” said Gabriel Gumbiner, Senior Associate of White Lion. “We are particularly pleased that our first investment in an SGX-listed company is with an organization of MetaOptics’ caliber. The company has a strong management team with a clear vision for its growth, and we are proud to support MetaOptics as it expands its presence in the U.S. market.”

This press release is to be read in conjunction with MetaOptics’ announcement on White Lion’s investment facility of up to US$10 million, pursuant to a warrant deed entered into with White Lion, released via SGXNet on 21 September 2026. The Company will make further announcement(s) as and when appropriate.

About MetaOptics Ltd
MetaOptics Ltd (Catalist: 9MT) is a vertically integrated designer and manufacturer of metalens-based optical components and products, headquartered in Singapore. Founded in 2021, the Company uses semiconductor processes to pioneer glass-based colour metalenses and produce them at scale on both 4-inch and 12-inch platforms. Its portfolio spans metalenses, metalens camera modules, metalens manufacturing equipment and metalens IoT products, which customers integrate into applications including smartphones, contactless 3D biometrics, AR/VR devices, pico projectors, LiDAR and automotive sensing. MetaOptics aims to deliver high-performance optics with the reliability and scalability demanded by today’s most innovative technology brands. Find out more at www.metaoptics.sg.

About White Lion Capital
White Lion Capital LLC is a US-based private investment firm headquartered in Los Angeles, California. The firm provides growth capital to public companies seeking to become leaders in emerging technology sectors.

Forward-Looking Statements
This press release may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the Company’s growth strategies, its future business development, results of operations and financial condition, its research and development efforts, its ability to attract and retain customers, and its ability to establish and maintain relationships with suppliers and business partners; and assumptions underlying or related to any of the foregoing. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Singapore (Headquarters)
MetaOptics Technologies Pte Ltd, 81 Ayer Rajah Crescent, #01-45, Singapore 139967
United States
MetaOptics Inc. (USA), 1 Ferry Building, Suite 201, San Francisco, CA 94111

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SOURCE MetaOptics Ltd

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FUJIFILM Business Innovation Singapore recognised for circular economy and waste management practices

Published

42 minutes ago

on

September 21, 2026

By

Company recovered more than 500,000 kg of used products annually from the Singapore market over the past two years

SINGAPORE, Sept. 21, 2026 /PRNewswire/ — FUJIFILM Business Innovation Singapore has received the Circular Economy Award – Singapore and Waste Management Award – Singapore at the ESGBusiness Awards 2026. Recognising organisations across Asia for their commitment and achievements in environmental, social and governance practices, the awards acknowledge the company’s efforts in product recovery, parts reuse, remanufacturing and material recycling.

Central to these efforts is an integrated approach spanning the full product lifecycle, from designing devices for easier repair and disassembly to collecting used equipment and recovering serviceable parts and materials. Selected products are also remanufactured in Japan to meet the required quality standards before returning to market. Together, these initiatives are intended to keep products and materials in use for longer and reduce the amount of waste sent for recycling or disposal. This product stewardship approach is also applied across the Asia-Pacific markets where FUJIFILM Business Innovation has direct operations.

Giving devices and materials a second life

Putting this lifecycle approach into practice starts at the design stage. Fujifilm’s multifunction devices feature compact, lightweight designs intended to reduce material use and transportation requirements across the value chain. They are also designed for disassembly to facilitate repair, parts recovery and material recycling.

At the end of commercial use, collected products are assessed for possible reuse before recycling. Over the past two years, FUJIFILM Business Innovation Singapore has consistently recovered more than 500,000 kg of used products annually from the Singapore market. Devices that are unsuitable for refurbishment are disassembled so that serviceable components can be recovered, repaired and reused where appropriate. Between 2024 and 2025, about 110,000 kg of parts were collected for reuse, extending the use of recovered resources and reducing the need for newly sourced materials.

Remaining equipment and toner cartridges are processed by licensed local e-waste recyclers. Through its recycling partner, more than 90 per cent of the material by weight is sorted for material recycling. This work builds on the company’s long-standing take-back programme, which was introduced before extended producer responsibility for electronic waste came into effect under the Resource Sustainability Act 2019.

Advancing circularity through remanufacturing

Beyond parts recovery and recycling, remanufacturing provides another pathway for extending product life. Selected used multifunction devices collected across the Asia-Pacific region undergo remanufacturing in Fujifilm’s factory in Japan. Each remanufactured unit undergoes quality assurance processes equivalent to those applied to newly manufactured products before returning to market. Lifecycle assessments of the relevant models indicate lower CO2 emissions than comparable newly manufactured devices. Applicable models are also certified under the Singapore Green Labelling Scheme.

Supporting customers’ environmental commitments

Alongside these product lifecycle initiatives, Fujifilm’s Managed Print Services offering helps customers better understand print usage across their workplaces. These insights can support more efficient use of paper, toner and energy, helping organisations identify opportunities to reduce resource consumption and waste. The delivery of these initiatives is supported by a certified environmental management system and a Certificate of Environmental Commitment from the Singapore Environment Council.

Tee Hsien Wee, Chief Executive Officer of FUJIFILM Business Innovation Singapore, said: “For local businesses, circularity is becoming an increasingly relevant consideration in how resources and technology are managed. These awards recognise the steps we have taken to apply circular principles across our operations. We will continue to review and strengthen these practices, while working with customers and partners to support more responsible resource use in Singapore.”

– Ends –

About FUJIFILM Business Innovation Singapore

As a pioneer in document solutions for over 60 years, FUJIFILM Business Innovation Singapore has a deep understanding of how businesses operate. Its mission is to empower organisations to work efficiently and effectively in the digital age. As a one-stop provider, it offers a comprehensive suite of digital transformation solutions and services, along with multifunction and production printers, partnering with customers to manage data, automate workflows, leverage data intelligence, and build exceptional customer experiences. The Group’s purpose, “Giving our world more smiles,” underscores its commitment to bringing together diverse ideas, unique capabilities, and extraordinary people to create a positive impact on society. For more information, visit https://www.fujifilm.com/fbsg/en.

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SOURCE FUJIFILM Business Innovation Singapore

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NYP launches Lumina to help students Go Beyond what they thought possible

Published

42 minutes ago

on

September 21, 2026

By

New talent development programme combines governance, public policy, futures thinking, ethics through theatre, mentorship and global learning to develop future leaders for a complex world  

SINGAPORE, Sept. 21, 2026 /PRNewswire/ — What does public policy have to do with engineering? Why should a designer understand how leadership decisions affect communities? These are among the questions behind Lumina, Nanyang Polytechnic’s (NYP) new flagship talent development programme. At its heart is a simple belief: every student possesses untapped potential. With the right environment, opportunities and support, young people can develop strengths and capabilities they may never have realised they had, and go beyond their pre-conceived boundaries.

Mr Russell Chan, Principal & Chief Executive Officer of NYP, shares the rationale behind the launch of Lumina: “Lumina is designed to help students grow beyond what they thought possible. Leadership is not developed in isolation. It is developed through experience, through service, and through engaging with real people and real communities. Whether through immersive experiences or overseas learning journeys, students will look at issues from different perspectives, think critically about the challenges facing society, and develop the confidence to navigate an increasingly complex world.”

Lumina joins a slew of offerings that undergird the poly’s institution-wide approach to support a young person’s growth: Beyond academic learning, a student can take advantage of workshops and experiential learning opportunities to develop life and leadership skills through programmes under the Student Life Academy. Students seeking a more personalised learning pathway can tap on customised study programmes and mentorship tailored to their aspirations and circumstances, giving them greater flexibility to progress at a pace that best supports their goals.

Earlier this year, NYP also introduced Go Beyond, which allows students the opportunity to customise how they want to complete their diplomas – whether through the university pathway taking university modules or preparation courses, gaining international exposure through overseas study and internships, or a professional pathway to deepen expertise through industry-focused experiences.

While developing professional and technical expertise remains a core focus of polytechnic education, Lumina aims to nurture students who are thoughtful, responsible and capable of leading positive change, and challenge them to stretch themselves in ways they may not have imagined and discover how much further they can grow.

Students will progress to experiences that broadens their perspective beyond their disciplines, exploring areas like service design, and go for university-level short courses in public policy, government and future-thinking. The key milestone of the programme will challenge students to examine ethical dilemmas through a forum theatre format – encouraging different viewpoints, question assumptions and consider key leadership decisions using the arts.

The programme also pairs them up with mentors from the private and public sectors. A few will also get to experience two trips – one to a developed economy and one to a developing and fast burgeoning Asian city with dynamic growth possibilities.

Lumina was launched on 19 Sep at the NYP X Kampong Glam Community Day, where about 200 students – working with the Alliance for Sustainability Innovation, Central Singapore Community Development Council and grassroots partners – supported Project Rejuven-Aid to improve living environments for the elderly and less privileged, while engaging directly with people and communities.

The launch setting reflects an important part of Lumina’s design. Students will not study leadership, governance or societal issues only in the abstract. Community projects are built into the programme so that they can encounter different realities, work with others and apply what they learn to needs beyond themselves.

As Singapore navigates increasingly complex economic, social and environmental challenges, Lumina reflects NYP’s aspiration to develop graduates who are not only ready for the future of work, but also ready to contribute to the future of society.

About Nanyang Polytechnic

Established as an institution of higher learning in 1992, Nanyang Polytechnic’s (NYP) academic schools offer quality education and training through 39 full-time diploma courses and common entry programmes. NYP also has a full suite of Continuing Education and Training (CET) options for lifelong learning, ranging from specialist and advanced diplomas to SkillsFuture-supported modules and courses. NYP’s Asian Culinary Institute Singapore and the Singapore Institute of Retail Studies are CET institutes set up in partnership with SkillsFuture Singapore (SSG) to champion and transform Singapore’s F&B and retail sectors, respectively. A third NYP CET institute – the National Centre of Excellence for Workplace Learning – also set up in collaboration with SSG, will spearhead the development of progressive workplace learning strategies and programmes for companies here.

For more information, please visit www.nyp.edu.sg.

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SOURCE Nanyang Polytechnic

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