Urban One, Inc. reported its financial results for the three months ended September 30, 2026, revealing a significant widening of its losses compared to the prior year. For the third quarter, the company recorded net revenue of approximately $88.0 million, a decrease of 5.0% from the same period in 2025. The company reported an operating loss of approximately $126.6 million for the quarter, a substantial swing from the operating income of approximately $2.5 million recorded in the third quarter of 2025.
Net loss attributable to common stockholders for the three months ended September 30, 2026, was approximately $119.2 million, or $(26.39) per share (basic). This compares to a net loss of $2.8 million, or $(0.64) per share, for the same period in 2025. Adjusted EBITDA for the quarter was approximately $12.3 million, down from approximately $14.2 million in the prior year.
Management cited adverse market conditions in radio and a shift in the Cable TV scatter market as key factors impacting the results. The company noted that net political revenue for the quarter exceeded $0.8 million, and the acquisition of stations in the Dallas market contributed an additional $1.9 million of net revenue. However, weak demand in the Cable TV scatter market shifted inventory to the direct response category at lower rates, while large client attrition and suppressed rates in national direct digital revenue led to significant declines in the digital segment.
In a significant update to its outlook, Urban One revised its 2026 Adjusted EBITDA guidance downward. The company now anticipates full-year Adjusted EBITDA of $40.0 million, down from its previous guidance in the mid-fifty-million dollar range. To address the current advertising marketplace realities, management stated it is hyper-focused on cost reductions and has identified at least $20.0 million in annualized savings.
