Urban One reported a challenging third quarter with consolidated net revenue declining by 16% year-over-year and an adjusted EBITDA drop of 44%. The company has adjusted its full-year EBITDA guidance downwards due to persistent revenue headwinds.

• Consolidated net revenue of $92.7 million, down 16% YoY, with Radio Broadcasting segment revenue decreasing 12.6%.
• Adjusted EBITDA fell to $14.2 million, a 44% decline compared to the prior year, attributed to reduced advertising revenues and ongoing political headwinds.
• The company implemented a second reduction in force, resulting in $1.6 million in severance costs, as part of broader cost-saving measures amounting to $3 million annually.
• Local ad sales demonstrated resilience, declining only 6.5% versus a broader market decline of 10.1%, while national sales lagged with a 29.1% fall.
• Full-year EBITDA guidance revised to $56 million - $58 million, down from the prior guidance of $60 million due to softer Q3 performance.