Gross margins have compressed significantly from 69.7% in 2024Q4 to 53.4% in 2026Q1, reflecting the company's inability to manage content delivery costs against a shrinking revenue base.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 359.79M | 374.37M | 449.67M | 477.69M | 484.6M | 440.29M | 376.34M | 436.93M | 439.1M | 440.04M | 456.22M | 450.86M | 441.39M | 448.7M | 424.57M | 364.61M | 279.91M | 272.09M | 316.42M | 330.27M | 367.02M | 371.13M | 319.76M | 303.15M | 295.85M | 243.8M | 155.67M | 81.7M | 52.7M | 32.37M |
| Revenue Growth % | -17.76% | -16.75% | -5.86% | -1.43% | 10.07% | 16.99% | -13.87% | -0.49% | -0.21% | -3.55% | 1.19% | 2.15% | -1.63% | 5.68% | 16.45% | 30.26% | 2.87% | -14.01% | -4.2% | -10.01% | -1.11% | 16.07% | 5.48% | 2.47% | 21.35% | 56.62% | 90.53% | 55.03% | 62.82% | - |
| Cost of Goods Sold | 140.66M | 143.52M | 135.34M | 137.02M | 122.64M | 119.09M | 103.83M | 128.8M | 125.32M | 130.42M | 134M | 134.41M | 141.69M | 138.02M | 135.78M | 115.19M | 75.04M | 75.64M | 82.12M | 78.99M | 80.22M | 70.38M | 53.36M | 51.5M | 49.58M | 40.79M | 21.13M | 9M | 2.5M | 0 |
| COGS % of Revenue | - | 38.34% | 30.1% | 28.68% | 25.31% | 27.05% | 27.59% | 29.48% | 28.54% | 29.64% | 29.37% | 29.81% | 32.1% | 30.76% | 31.98% | 31.59% | 26.81% | 27.8% | 25.95% | 23.92% | 21.86% | 18.96% | 16.69% | 16.99% | 16.76% | 16.73% | 13.58% | 11.02% | 4.74% | - |
| Gross Profit | 219.13M | 230.85M | 314.34M | 340.67M | 361.97M | 321.19M | 272.5M | 308.13M | 313.78M | 309.62M | 322.22M | 316.45M | 299.7M | 310.68M | 288.79M | 249.42M | 204.86M | 196.46M | 234.29M | 251.28M | 286.8M | 300.76M | 266.4M | 251.65M | 246.27M | 203.01M | 134.53M | 72.7M | 50.2M | 32.37M |
| Gross Margin % | 60.9% | 61.66% | 69.9% | 71.32% | 74.69% | 72.95% | 72.41% | 70.52% | 71.46% | 70.36% | 70.63% | 70.19% | 67.9% | 69.24% | 68.02% | 68.41% | 73.19% | 72.2% | 74.05% | 76.08% | 78.14% | 81.04% | 83.31% | 83.01% | 83.24% | 83.27% | 86.42% | 88.98% | 95.26% | 100% |
| Gross Profit Growth % | - | -26.56% | -7.73% | -5.88% | 12.69% | 17.87% | -11.56% | -1.8% | 1.34% | -3.91% | 1.82% | 5.59% | -3.53% | 7.58% | 15.79% | 21.75% | 4.28% | -16.15% | -6.76% | -12.38% | -4.64% | 12.9% | 5.86% | 2.19% | 21.31% | 50.9% | 85.05% | 44.82% | 55.1% | - |
| Operating Expenses | 208.27M | 207.41M | 389.92M | 372.24M | 270.88M | 204.75M | 240.91M | 221.03M | 218.89M | 227.76M | 232.79M | 239.07M | 222.53M | 222.83M | 216.96M | 201.6M | 153.69M | 136.76M | 583.74M | 566.87M | 227.2M | 157.84M | 125.11M | 124.57M | 126.29M | 219.46M | 125.66M | 56.6M | 39.9M | 26.83M |
| OpEx % of Revenue | - | 55.4% | 86.71% | 77.92% | 55.9% | 46.5% | 64.01% | 50.59% | 49.85% | 51.76% | 51.03% | 53.03% | 50.42% | 49.66% | 51.1% | 55.29% | 54.91% | 50.26% | 184.48% | 171.64% | 61.9% | 42.53% | 39.13% | 41.09% | 42.69% | 90.01% | 80.72% | 69.28% | 75.71% | 82.9% |
| Selling, General & Admin | 202.17M | 207.41M | 230.45M | 235.86M | 220.16M | 193.36M | 146.77M | 193.44M | 185.7M | 193.74M | 198.54M | 203.72M | 185.71M | 184.96M | 178.25M | 164.53M | 136.25M | 115.75M | 141.39M | 142.02M | 148.08M | 141.25M | 108.17M | 106.49M | 108.65M | 89.74M | 59.61M | 34.9M | 27.3M | 12.91M |
| SG&A % of Revenue | - | 55.4% | 51.25% | 49.37% | 45.43% | 43.92% | 39% | 44.27% | 42.29% | 44.03% | 43.52% | 45.18% | 42.07% | 41.22% | 41.98% | 45.13% | 48.68% | 42.54% | 44.69% | 43% | 40.35% | 38.06% | 33.83% | 35.13% | 36.72% | 36.81% | 38.29% | 42.72% | 51.8% | 39.9% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | 159.47M | 136.38M | 50.72M | 11.39M | 94.14M | 27.59M | 33.19M | 34.02M | 928K | -216K | 32K | 307K | -1.36M | 201.6M | 153.69M | 136.76M | 583.74M | 566.87M | 227.2M | 157.84M | 125.11M | 124.57M | 126.29M | 219.46M | 125.66M | 56.6M | 39.9M | 26.83M |
| Operating Income | 10.85M | 23.45M | -75.58M | -31.57M | 91.09M | 116.44M | 31.6M | 87.1M | 103.14M | 88.67M | 88.14M | 36.17M | 77.17M | 72.97M | 71.52M | 25.49M | 15.11M | -6.24M | -349.44M | -315.59M | 59.59M | 142.91M | 141.29M | 127.08M | 119.98M | -16.45M | 8.88M | 16.1M | 10.3M | 5.54M |
| Operating Margin % | 3.02% | 6.26% | -16.81% | -6.61% | 18.8% | 26.45% | 8.4% | 19.93% | 23.49% | 20.15% | 19.32% | 8.02% | 17.48% | 16.26% | 16.84% | 6.99% | 5.4% | -2.29% | -110.44% | -95.56% | 16.24% | 38.51% | 44.19% | 41.92% | 40.55% | -6.75% | 5.7% | 19.71% | 19.54% | 17.1% |
| Operating Income Growth % | - | 131.02% | -139.41% | -134.66% | -21.77% | 268.52% | -63.72% | -15.55% | 16.31% | 0.6% | 143.71% | -53.13% | 5.75% | 2.03% | 180.6% | 68.63% | 342.25% | 98.21% | -10.73% | -629.57% | -58.3% | 1.15% | 11.18% | 5.92% | 829.49% | -285.3% | -44.87% | 56.31% | 86.05% | - |
| EBITDA | 67.89M | 87.75M | -16.59M | 30.61M | 157.75M | 182.25M | 87.75M | 160.38M | 180.54M | 167.34M | 175.04M | 71.52M | 113.99M | 110.84M | 110.23M | 62.55M | 32.55M | 14.77M | -330.32M | -299.91M | 77.64M | 163.67M | 159.93M | 146.86M | 139.67M | 115.35M | 74.92M | 37.8M | 22.9M | 11.36M |
| EBITDA Margin % | 18.87% | 23.44% | -3.69% | 6.41% | 32.55% | 41.39% | 23.32% | 36.71% | 41.12% | 38.03% | 38.37% | 15.86% | 25.82% | 24.7% | 25.96% | 17.16% | 11.63% | 5.43% | -104.39% | -90.81% | 21.15% | 44.1% | 50.02% | 48.44% | 47.21% | 47.31% | 48.13% | 46.27% | 43.45% | 35.11% |
| EBITDA Growth % | 411.19% | 628.88% | -154.21% | -80.6% | -13.44% | 107.69% | -45.29% | -11.17% | 7.89% | -4.4% | 144.74% | -37.25% | 2.84% | 0.55% | 76.21% | 92.16% | 120.37% | 104.47% | -10.14% | -486.28% | -52.56% | 2.34% | 8.9% | 5.14% | 21.09% | 53.96% | 98.21% | 65.07% | 101.51% | - |
| D&A (Non-Cash Add-back) | 57.04M | 64.3M | 58.99M | 62.18M | 66.66M | 65.81M | 56.15M | 73.29M | 77.41M | 78.67M | 86.9M | 35.35M | 36.82M | 37.87M | 38.72M | 37.07M | 17.44M | 21.01M | 19.12M | 15.68M | 18.05M | 20.76M | 18.64M | 19.77M | 19.69M | 131.8M | 66.05M | 21.7M | 12.6M | 5.83M |
| EBIT | 13.85M | 23.45M | -45.44M | 73.84M | 114.83M | 117.84M | 33.46M | 94.32M | 80.07M | 68.72M | 91.93M | 28.96M | 77.17M | 73.52M | 70.41M | 167.81M | 24.46M | -1.32M | -277.03M | -315.59M | 68M | 135.02M | 139.65M | 127.08M | 119.98M | -16.45M | 8.88M | 15.9M | 10.4M | 5.54M |
| Net Interest Income | -30.75M | -36.31M | -42.59M | -49.23M | -60.81M | -65.48M | -74.29M | -81.25M | -76.43M | -79.22M | -81.42M | -79.94M | -79.44M | -88.95M | -90.55M | -87.77M | -46.71M | -38.26M | -59.2M | -71.53M | -71.54M | -61.58M | -37.09M | -41.44M | -59.14M | -63.36M | -32.41M | 0 | -11.5M | 0 |
| Interest Income | 1.53M | 2.49M | 5.98M | 6.97M | 939K | 218K | 213K | 150K | 240K | 200K | 214K | 102K | 366K | 245K | 248K | 354K | 127K | 144K | 491K | 1.24M | 1.39M | 1.43M | 2.52M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 32.29M | 38.81M | 48.57M | 56.2M | 61.75M | 65.7M | 74.51M | 81.4M | 76.67M | 79.42M | 81.64M | 80.04M | 79.81M | 89.2M | 91.15M | 88.33M | 46.83M | 38.4M | 59.69M | 72.77M | 72.93M | 63.01M | 39.61M | 41.44M | 59.14M | 63.36M | 32.41M | 0 | 11.5M | 0 |
| Other Income/Expense | -182.2M | -186.34M | -18.84M | 44.08M | -38.01M | -64.3M | -72.64M | -74.17M | -70.23M | -63.42M | -77.85M | -87.24M | -85.09M | -88.64M | -92.26M | 54.12M | -37.56M | 7.01M | 12.73M | -83.33M | -82.56M | -63.52M | -39.33M | -40.84M | -57.8M | -58.14M | -12.32M | -13.1M | -11.2M | -8.49M |
| Pretax Income | -171.35M | -162.89M | -94.42M | 12.51M | 53.08M | 52.14M | -41.05M | 12.92M | 3.41M | -10.7M | 10.3M | -51.08M | -7.93M | -15.68M | -20.74M | 79.61M | -22.45M | -39.73M | -338.64M | -398.92M | -14.56M | 79.4M | 100.32M | 86.25M | 62.18M | -74.59M | -3.45M | 2.8M | -800K | -2.96M |
| Pretax Margin % | -47.63% | -43.51% | -21% | 2.62% | 10.95% | 11.84% | -10.91% | 2.96% | 0.78% | -2.43% | 2.26% | -11.33% | -1.8% | -3.49% | -4.89% | 21.83% | -8.02% | -14.6% | -107.02% | -120.79% | -3.97% | 21.39% | 31.37% | 28.45% | 21.02% | -30.59% | -2.21% | 3.43% | -1.52% | -9.14% |
| Income Tax | -33.11M | -16.01M | 9.76M | 7.94M | 16.42M | 13.03M | -34.48M | 10.86M | -138.76M | -123.16M | 9.58M | 15.06M | 34.81M | 28.72M | 33.23M | 66.69M | 3.97M | 7.01M | -45.2M | -23.03M | 274K | 27M | 38.72M | 32.46M | 25.28M | -24.55M | 804K | 2.7M | -1.6M | 0 |
| Effective Tax Rate % | 19.32% | 9.83% | -10.34% | 63.51% | 30.93% | 25% | 84% | 84.08% | -4073.93% | 1150.95% | 93.05% | -29.48% | -439.24% | -183.2% | -160.22% | 83.77% | -17.69% | -17.65% | 13.35% | 5.77% | -1.88% | 34.01% | 38.59% | 37.64% | 40.66% | 32.91% | -23.32% | 96.43% | 200% | 0% |
| Net Income | -138.21M | -146.87M | -105.39M | 2.05M | 34.34M | 36.79M | -8.11M | 925K | 141M | 111.89M | -423K | -74.02M | -62.67M | -61.98M | -66.86M | 2.89M | -28.63M | -52.89M | -302.94M | -387.12M | -6.73M | 50.53M | 61.6M | 53.78M | 7.05M | -55.25M | -4.25M | 100K | 800K | -4.94M |
| Net Margin % | -38.41% | -39.23% | -23.44% | 0.43% | 7.09% | 8.36% | -2.16% | 0.21% | 32.11% | 25.43% | -0.09% | -16.42% | -14.2% | -13.81% | -15.75% | 0.79% | -10.23% | -19.44% | -95.74% | -117.21% | -1.83% | 13.61% | 19.27% | 17.74% | 2.38% | -22.66% | -2.73% | 0.12% | 1.52% | -15.27% |
| Net Income Growth % | -10.89% | -39.35% | -5241.17% | -94.03% | -6.65% | 553.48% | -977.08% | -99.34% | 26.02% | 26550.83% | 99.43% | -18.11% | -1.11% | 7.3% | -2414.47% | 110.09% | 45.86% | 82.54% | 21.74% | -5652.12% | -113.32% | -17.97% | 14.54% | 662.45% | 112.77% | -1199.62% | -4351% | -87.5% | 116.18% | - |
| Net Income (Continuing) | -138.24M | -146.88M | -104.18M | 4.57M | 36.66M | 39.11M | -6.57M | 2.06M | 138.6M | 112.46M | 716K | -66.13M | -42.74M | -44.4M | -53.93M | 13M | -26.35M | -46.74M | -291.53M | -375.89M | -10.44M | 52.6M | 61.6M | 53.78M | 36.9M | -50.04M | -4.25M | 100K | 800K | -2.96M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 885K | 0 | 0 | 0 | 0 | 0 | 0 | -11.11M | -254K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 2.63M | 7.99M | 16.52M | 31.92M | 18.66M | 12.7M | 10.56M | 10.23M | 10.78M | 12.41M | 12.04M | 212.51M | 219.03M | 223.55M | 225.41M | 30.64M | 5.99M | 1.98M | 3.89M | -20K | 2.86M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -31.06 | -32.94 | -2.22 | 0.04 | 0.72 | 0.71 | -0.18 | 0.04 | 2.94 | 2.35 | -0.01 | -1.54 | -1.32 | -1.28 | -1.34 | 0.06 | -0.56 | -0.89 | -3.22 | -3.92 | -0.07 | 0.44 | 0.37 | 0.30 | -0.13 | -0.61 | -0.05 | -0.08 | -0.10 | -0.21 |
| EPS Growth % | -453.9% | -1383.78% | -5650% | -94.44% | 1.41% | 494.44% | -519.58% | -98.54% | 25.11% | - | 99.43% | -16.67% | -3.13% | 4.48% | -2333.33% | 110.71% | 37.08% | 72.36% | 17.86% | -5647.8% | -115.5% | 18.92% | 23.33% | 330.77% | 78.69% | -1112.72% | 37.13% | 20% | 52.38% | - |
| EPS (Basic) | - | -32.94 | -2.22 | 0.04 | 0.76 | 0.76 | -0.18 | 0.05 | 3.09 | 2.37 | -0.01 | -1.54 | -1.32 | -1.28 | -1.34 | 0.06 | -0.56 | -0.89 | -3.22 | -3.92 | -0.07 | 0.44 | 0.37 | 0.30 | -0.13 | -0.61 | -0.05 | -0.08 | -0.10 | -0.21 |
| Diluted Shares Outstanding | 4.45M | 4.46M | 47.4M | 50.24M | 52.17M | 54.14M | 45.04M | 47.92M | 48M | 49.63M | 47.92M | 48.03M | 47.53M | 48.37M | 50.02M | 52.29M | 51.51M | 59.47M | 94.12M | 98.71M | 98.71M | 103.89M | 105.43M | 105.07M | 101.82M | 90.3M | 84.54M | 48.41M | 29.16M | 23.53M |
| Basic Shares Outstanding | 4.45M | 4.46M | 47.4M | 47.65M | 48.93M | 50.16M | 45.04M | 44.7M | 45.65M | 47.17M | 47.92M | 48.03M | 47.48M | 48.36M | 50.02M | 50.74M | 51.51M | 59.47M | 94.12M | 98.71M | 98.71M | 103.75M | 104.95M | 104.62M | 101.82M | 90.3M | 84.54M | 48.41M | 29.16M | 23.53M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 71.14% | 0.81% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 285.51% | - | - | - | - | - |
Structural Advertising Revenue Decline
According to recent quarterly filings, UONE experienced a 16.75% year-over-year revenue decline, reflecting a sustained inability to offset legacy broadcasting headwinds with digital growth, as evidenced by the consistent downward trajectory in top-line performance across the last ten reporting periods analyzed in the provided data.
The consistent revenue decay suggests that the company's core radio and cable segments are struggling to maintain market share against shifting consumer media consumption habits. This trend appears to be more than cyclical, potentially indicating a fundamental erosion of the company's competitive positioning within its target demographic.
As reported in financial statements, gross margins have compressed from 69.7% in 2024Q4 to 53.4% in 2026Q1, signaling that the company's direct content delivery costs are becoming increasingly difficult to manage relative to the shrinking revenue base generated by its broadcasting and cable assets.
The inability to maintain gross margins suggests that UONE lacks the pricing power necessary to pass through rising content and talent costs to advertisers. Investors should monitor whether this margin degradation is a permanent structural shift or a temporary outcome of aggressive, yet ineffective, promotional spending.
Based on UONE's reported figures, the net margin of -39.23% highlights significant volatility in bottom-line results, which appears driven by substantial non-cash charges and asset impairments rather than purely operational cash outflows, complicating the assessment of the company's true underlying profitability and long-term earnings potential.
The frequent, large-scale net losses suggest that the company's intangible assets, particularly FCC licenses, may be overvalued on the balance sheet. This warrants further investigation into whether management is proactively addressing asset value reality or merely reacting to periodic, unavoidable accounting write-downs.
Data from recent income statements indicates that SG&A expenses remain stubbornly high relative to gross profit, with operating margins frequently dipping into negative territory, suggesting that management has struggled to implement the necessary cost discipline to align overhead with the current, lower revenue environment.
The high fixed-cost structure inherent in broadcasting creates significant operating leverage risk when revenues decline. The failure to scale SG&A downward in proportion to revenue suggests that the company's current operating model may be fundamentally misaligned with its current market scale.
While some may argue for the resilience of UONE's niche demographic focus, the persistent negative EPS and revenue contraction suggest that the company's 'walled garden' strategy is failing to protect it from the broader industry-wide shift toward programmatic digital advertising and declining cable affiliate fees.
Short-term observers might focus on the potential for a cyclical rebound, but the data suggests a more concerning, secular decline in the core business. The lack of a clear, profitable pivot strategy leaves the company vulnerable to further valuation compression if debt covenants become a concern.
Quick answers to the most common questions about buying UONE stock.
For fiscal year 2025, Urban One, Inc. (UONE) reported total revenue of $374.4M. This represents a 1056.6% increase compared to $32.4M in 1997.
Urban One, Inc. (UONE) reported a net loss of $146.9M for the fiscal year ending 2025.
Urban One, Inc. (UONE) reported an operating income of $23.4M, resulting in an operating profit margin of 6.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Urban One, Inc. (UONE) generated $230.9M in gross profit for the year, representing a gross profit margin of 61.7%. This demonstrates the company's core pricing power and production efficiency.