Urban One's Q3 2025 results fell short of expectations, reflecting a 16% decline in consolidated net revenue, primarily impacted by challenges in political advertising and softer demand across key segments.

• Consolidated net revenue decreased to approximately $92.7 million, a drop of 16% year-over-year, with significant declines in both radio and digital segments.
• Adjusted EBITDA plummeted 44.1% to $14.2 million, impacted by cost structures and lower revenues across key divisions.
• The company adjusted its EBITDA guidance downward to $56 million–$58 million for the year, citing ongoing political headwinds and a restructuring for additional cost savings.
• A second round of cost-saving measures resulted in an annualized expense reduction of $3 million, building on earlier savings of $5 million, indicating proactive management in response to market challenges.
• Reach Media segment revenue fell 40% year-over-year to $6.1 million, reflecting a difficult advertising environment, while Cable TV affiliate revenue declined by 9.1% due to subscriber churn.