Urban One - UONE STOCK NEWS

iONE Digital's NewsOne.com has launched a new digital series, 'The Black Ballot,' that examines the Black vote's history and influence since the Civil Rights Act of 1964. Released every Tuesday until Election Day, the series features commentary from high-profile figures like Don Lemon, Joy-Ann Reid, Tarana Burke, and Dr. Cornel West.

'The Black Ballot' delves into the evolving political landscape, race relations, and the Supreme Court's role, highlighting the impact of each American President's policies on African American communities. Each episode presents a chronological exploration of the Black vote's journey, providing context and lessons for today's political climate.

Featuring voices of activists, historians, and political leaders, this series aims to educate and inform viewers about the systemic forces shaping voting rights and political engagement.

Urban One (NASDAQ: UONE) reported a net revenue of $477.7 million for FY 2023, a decline of 1.4% compared to 2022. The company experienced an operating loss of $31.6 million, a significant drop from the $91.1 million operating income in 2022. Broadcast and digital operating income decreased by 16.5% to $168.4 million. Net income fell to $2.1 million, or $0.04 per share, down from $34.3 million or $0.70 per share in 2022. Adjusted EBITDA for FY 2023 was $128.4 million, down from $165.2 million in 2022.

For Q1 2024, net revenue was $104.4 million, a 5.0% decrease from Q1 2023. Operating income rose to $12.9 million from $8.1 million. Net income improved to $7.5 million, or $0.15 per share, compared to a $2.9 million loss in Q1 2023. Adjusted EBITDA was $21.5 million, down from $30.3 million in Q1 2023.

CEO Alfred C. Liggins III noted a drop in radio division revenue due to reduced political advertising and highlighted industry-wide concerns about cable TV subscriber churn. Despite these challenges, the company remains optimistic about future political advertising revenue.

Urban One (NASDAQ: UONEK; UONE) has announced a conference call for investors and analysts to discuss the results of the fourth fiscal quarter of 2023 and the first fiscal quarter of 2024. The call is scheduled for June 10, 2024, at 4:30 p.m. EDT. U.S. participants can dial 1-844-291-5494, while international callers can use +1-409-207-6995 with Access Code 9666446. A replay of the call will be available on the same day from 7:30 p.m. EDT until June 17, 2024, by dialing 1-866-207-1041 or +1-402-970-0847 with Access Code 1372800. Additionally, the live audio and replay will be accessible on Urban One's website.

Urban One, Inc. (UONE) announced on May 24, 2024, that it received a second delinquency notification from Nasdaq on May 23, 2024. This notice is due to the failure to file the Q1 2024 Form 10-Q on time, adding to the previously unfiled 2023 Form 10-K. The company must file these documents by June 7, 2024, or submit a compliance plan to Nasdaq. If accepted, the plan might extend the deadline to September 30, 2024. Urban One is working to meet the June 7 deadline to avoid the need for a formal plan. Currently, there is no immediate impact on the stock's Nasdaq listing, but failure to comply could lead to delisting.

Urban One, Inc. received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to a delayed Annual Report filing. The company has 60 days to submit a plan to regain compliance.

Urban One, Inc. (NASDAQ: UONEK and UONE) reported a decrease in net revenue by 2.8% for the quarter ended September 30, 2023, resulting in an operating loss of approximately $56.1 million. The company's Adjusted EBITDA was approximately $34.1 million, down from $44.3 million for the same period in 2022. The CEO expects Q4 radio markets to be down approximately 14%, and the company plans to finish the year in line with prior Adjusted EBITDA guidance of $125-128 million.

Urban One, Inc. (NASDAQ: UONEK; UONE) will be holding a conference call to discuss its results for the third fiscal quarter of 2023. The call is scheduled for January 11, 2024, at 10:00 a.m. EST. Interested parties can access the call via phone or the company's website. A replay will also be available for seven days after the call.

Urban One, Inc. (NASDAQ: UONEK and UONE) reported a net revenue of approximately $239.5 million for the six months ended June 30, 2023, marking a 3.8% increase from the same period in 2022. Operating income decreased to approximately $17.8 million from $61.8 million for the same period in 2022. The company's CEO, Alfred C. Liggins, III, expressed confidence in the company's performance, re-affirming the prior guidance of Adjusted EBITDA in the range $125-128 million.

Urban One, Inc. (NASDAQ: UONEK; UONE) will be holding a conference call to discuss its results for the first and second fiscal quarters of 2023 on December 07, 2023. Investors and analysts can participate by dialing toll-free 1-844-721-7241 (U.S. callers) or (+1) 409-207-6955 (international callers) with the Access Code 7824764. A replay will be available until December 14, 2023, accessible by calling 1-866-207-1041 (U.S. callers) or (+1) 402-970-0847 (international callers) with the Access Code 3718185. Live audio and replay will also be available on Urban One's corporate website at www.urban1.com.