$UONE
URBAN ONE, INC.

2022 Q2 Form 10-Q Financial Statement

#000155837022013447 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $118.8M $131.0M $107.6M
YoY Change 10.43% 15.35% 41.55%
Cost Of Revenue $28.35M $38.25M $26.52M
YoY Change 6.92% 36.12% 12.36%
Gross Profit $90.46M $92.72M $81.08M
YoY Change 11.57% 8.57% 54.73%
Gross Profit Margin 76.14% 70.79% 75.35%
Selling, General & Admin $35.35M $67.96M $31.51M
YoY Change 12.17% 219.07% 41.34%
% of Gross Profit 39.07% 73.3% 38.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.54M $19.73M $12.93M
YoY Change 4.66% 59.12% 10.53%
% of Gross Profit 14.96% 21.28% 15.95%
Operating Expenses $94.98M $70.33M $69.67M
YoY Change 36.32% 197.99% 25.25%
Operating Profit $23.84M $22.39M $37.92M
YoY Change -37.14% -35.16% 86.05%
Interest Expense $15.89M -$13.88M $15.85M
YoY Change 0.21% -67.51% -13.82%
% of Operating Profit 66.65% -61.97% 41.81%
Other Income/Expense, Net $9.725M -$32.00K $2.362M
YoY Change 311.73% -89.33% 2412.77%
Pretax Income $19.53M $8.484M $24.60M
YoY Change -20.6% -40.25% 1067.39%
Income Tax $3.725M $1.211M $6.119M
% Of Pretax Income 19.07% 14.27% 24.88%
Net Earnings $15.03M $6.603M $17.87M
YoY Change -15.85% -75.01% 1158.17%
Net Earnings / Revenue 12.65% 5.04% 16.61%
Basic Earnings Per Share $0.30 $0.13 $0.36
Diluted Earnings Per Share $0.28 $0.12 $0.33
COMMON SHARES
Basic Shares Outstanding 50.81M 51.21M 49.79M
Diluted Shares Outstanding 54.66M 55.08M 53.78M

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.0M $132.2M $129.3M
YoY Change -4.85% 80.17% 85.52%
Cash & Equivalents $123.0M $132.2M $129.3M
Short-Term Investments
Other Short-Term Assets $8.037M $4.760M $4.260M
YoY Change 88.66% 12.69% -90.99%
Inventory
Prepaid Expenses $4.030M $2.967M $10.61M
Receivables $124.0M $127.4M $103.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $311.1M $313.3M $279.7M
YoY Change 11.2% 40.5% 37.06%
LONG-TERM ASSETS
Property, Plant & Equipment $26.91M $26.29M $25.26M
YoY Change 6.55% 36.99% -62.41%
Goodwill $219.1M $223.4M $223.4M
YoY Change -1.94% 0.0%
Intangibles
YoY Change
Long-Term Investments $112.6M
YoY Change
Other Assets $44.46M $44.64M $43.21M
YoY Change 2.9% 3.77% -3.76%
Total Long-Term Assets $943.7M $947.8M $959.8M
YoY Change -1.68% -2.54% -4.49%
TOTAL ASSETS
Total Short-Term Assets $311.1M $313.3M $279.7M
Total Long-Term Assets $943.7M $947.8M $959.8M
Total Assets $1.255B $1.261B $1.240B
YoY Change 1.23% 5.49% 2.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.82M $14.59M $12.52M
YoY Change 18.33% 31.01% 145.55%
Accrued Expenses $41.85M $46.49M $43.09M
YoY Change -2.88% 59.21% 106.19%
Deferred Revenue $7.494M
YoY Change -31.09%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $109.6M $106.5M $99.16M
YoY Change 10.58% -0.41% -17.92%
LONG-TERM LIABILITIES
Long-Term Debt $787.4M $818.6M $817.8M
YoY Change -3.72% -0.04% -2.46%
Other Long-Term Liabilities $37.56M $28.32M $28.01M
YoY Change 34.1% 18.0% -63.39%
Total Long-Term Liabilities $824.9M $846.9M $845.8M
YoY Change -2.46% 0.48% -7.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.6M $106.5M $99.16M
Total Long-Term Liabilities $824.9M $846.9M $845.8M
Total Liabilities $976.5M $990.0M $987.9M
YoY Change -1.15% -0.59% -5.88%
SHAREHOLDERS EQUITY
Retained Earnings -$735.2M -$766.6M -$787.0M
YoY Change -6.59% -4.76%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $259.6M $254.1M $236.5M
YoY Change
Total Liabilities & Shareholders Equity $1.255B $1.261B $1.240B
YoY Change 1.23% 5.49% 2.53%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income $15.03M $6.603M $17.87M
YoY Change -15.85% -75.01% 1158.17%
Depreciation, Depletion And Amortization $13.54M $19.73M $12.93M
YoY Change 4.66% 59.12% 10.53%
Cash From Operating Activities $27.89M $43.89M $37.19M
YoY Change -25.01% 361.96% 229.13%
INVESTING ACTIVITIES
Capital Expenditures -$2.295M -$2.104M -$1.654M
YoY Change 38.75% 250.67% 27.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $8.000M
YoY Change -100.0% -100.0%
Cash From Investing Activities -$2.295M -$2.104M $6.346M
YoY Change -136.16% -801.33% -628.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.96M -1.395M 28.98M
YoY Change -268.91% -96.38% -567.48%
NET CHANGE
Cash From Operating Activities 27.89M 43.89M 37.19M
Cash From Investing Activities -2.295M -2.104M 6.346M
Cash From Financing Activities -48.96M -1.395M 28.98M
Net Change In Cash -23.36M 40.39M 72.52M
YoY Change -132.22% -240.72% 1759.54%
FREE CASH FLOW
Cash From Operating Activities $27.89M $43.89M $37.19M
Capital Expenditures -$2.295M -$2.104M -$1.654M
Free Cash Flow $30.19M $45.99M $38.85M
YoY Change -22.3% 355.35% 208.3%

Facts In Submission

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URBAN ONE, INC.
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CY2021Q4 us-gaap Additional Paid In Capital
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RetainedEarningsAccumulatedDeficit
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CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-766567000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
259561000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
254120000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1254764000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1261108000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
254120000
us-gaap Net Income Loss
NetIncomeLoss
31403000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
460000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
24669000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
60240
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
50000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
259561000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
186898000
us-gaap Net Income Loss
NetIncomeLoss
17873000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
905000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
33282000
us-gaap Minority Interest Change In Redemption Value
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-1425000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
197256
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
315000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
425000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
236463000
us-gaap Profit Loss
ProfitLoss
32874000
us-gaap Profit Loss
ProfitLoss
18939000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4886000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4589000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1005000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1296000
uone Amortization Of Content Assets
AmortizationOfContentAssets
20341000
uone Amortization Of Content Assets
AmortizationOfContentAssets
18575000
uone Amortization Of Launch Assets
AmortizationOfLaunchAssets
1897000
uone Amortization Of Launch Assets
AmortizationOfLaunchAssets
668000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-35000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8597000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6108000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4330000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
3851000
uone Non Cash Lease Liability Expense
NonCashLeaseLiabilityExpense
2038000
uone Non Cash Lease Liability Expense
NonCashLeaseLiabilityExpense
2066000
uone Noncash Interest Expense
NoncashInterestExpense
0
uone Noncash Interest Expense
NoncashInterestExpense
158000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
16933000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Share Based Compensation
ShareBasedCompensation
460000
us-gaap Share Based Compensation
ShareBasedCompensation
425000
uone Non Cash Fair Value Adjustment Of Employment Agreement Award
NonCashFairValueAdjustmentOfEmploymentAgreementAward
1482000
uone Non Cash Fair Value Adjustment Of Employment Agreement Award
NonCashFairValueAdjustmentOfEmploymentAgreementAward
1508000
uone Non Cash Income Loss On Paycheck Protection Program Loan Forgiveness
NonCashIncomeLossOnPaycheckProtectionProgramLoanForgiveness
7575000
uone Non Cash Income Loss On Paycheck Protection Program Loan Forgiveness
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0
us-gaap Gains Losses On Extinguishment Of Debt
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1855000
us-gaap Gains Losses On Extinguishment Of Debt
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uone Gain On Asset Exchange Agreement
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0
uone Gain On Asset Exchange Agreement
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404000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3483000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2260000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
394000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1285000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
698000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
8512000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
231000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1388000
us-gaap Increase Decrease In Interest Payable Net
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-810000
us-gaap Increase Decrease In Interest Payable Net
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18397000
us-gaap Increase Decrease In Employee Related Liabilities
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-3688000
us-gaap Increase Decrease In Employee Related Liabilities
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-5597000
us-gaap Increase Decrease In Other Operating Liabilities
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-7283000
us-gaap Increase Decrease In Other Operating Liabilities
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235000
uone Increase Decrease In Payments For Launch Support
IncreaseDecreaseInPaymentsForLaunchSupport
-5000000
uone Increase Decrease In Payments For Launch Support
IncreaseDecreaseInPaymentsForLaunchSupport
0
uone Increase Decrease In Payments For Content Assets
IncreaseDecreaseInPaymentsForContentAssets
27595000
uone Increase Decrease In Payments For Content Assets
IncreaseDecreaseInPaymentsForContentAssets
21064000
us-gaap Net Cash Provided By Used In Operating Activities
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43624000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
51492000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3871000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2454000
uone Proceeds From Sale Of Broadcasting Assets
ProceedsFromSaleOfBroadcastingAssets
0
uone Proceeds From Sale Of Broadcasting Assets
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8000000
us-gaap Net Cash Provided By Used In Investing Activities
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-3871000
us-gaap Net Cash Provided By Used In Investing Activities
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5546000
us-gaap Proceeds From Issuance Of Common Stock
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0
us-gaap Proceeds From Issuance Of Common Stock
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33282000
us-gaap Proceeds From Stock Options Exercised
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50000
us-gaap Proceeds From Stock Options Exercised
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315000
us-gaap Repayments Of Notes Payable
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22750000
us-gaap Repayments Of Notes Payable
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0
us-gaap Payments Of Dividends Minority Interest
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1599000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24669000
us-gaap Payments For Repurchase Of Common Stock
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905000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
us-gaap Proceeds From Notes Payable
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825000000
uone Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
0
uone Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
7505000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
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11157000
us-gaap Repayments Of Secured Debt
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0
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
57889000
uone Repayments Of Notes Payable7.375 Percent
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0
uone Repayments Of Notes Payable7.375 Percent
RepaymentsOfNotesPayable7.375Percent
2984000
uone Repayments Of Notes Payable8.75 Percent
RepaymentsOfNotesPayable8.75Percent
0
uone Repayments Of Notes Payable8.75 Percent
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347016000
us-gaap Net Cash Provided By Used In Financing Activities
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-48968000
us-gaap Net Cash Provided By Used In Financing Activities
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-1116000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55922000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
152218000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73858000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143003000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129780000
us-gaap Interest Paid Net
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31543000
us-gaap Interest Paid Net
InterestPaidNet
14048000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
698000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
782000
uone Assets Acquired In Asset Exchange Transaction
AssetsAcquiredInAssetExchangeTransaction
0
uone Assets Acquired In Asset Exchange Transaction
AssetsAcquiredInAssetExchangeTransaction
28193000
uone Liabilities Assumed In Asset Exchange Transaction
LiabilitiesAssumedInAssetExchangeTransaction
0
uone Liabilities Assumed In Asset Exchange Transaction
LiabilitiesAssumedInAssetExchangeTransaction
2669000
uone Right Of Use Asset And Lease Liability Additions
RightOfUseAssetAndLeaseLiabilityAdditions
435000
uone Right Of Use Asset And Lease Liability Additions
RightOfUseAssetAndLeaseLiabilityAdditions
4935000
uone Non Cash Launch Addition
NonCashLaunchAddition
13750000
uone Non Cash Launch Addition
NonCashLaunchAddition
0
uone Adjustment Of Redeemable Noncontrolling Interests To Estimated Redemption Value
AdjustmentOfRedeemableNoncontrollingInterestsToEstimatedRedemptionValue
1803000
uone Adjustment Of Redeemable Noncontrolling Interests To Estimated Redemption Value
AdjustmentOfRedeemableNoncontrollingInterestsToEstimatedRedemptionValue
1425000
CY2022Q2 uone Number Of Independently Formatted Revenue Producing Broadcast Stations Owned Or Operated
NumberOfIndependentlyFormattedRevenueProducingBroadcastStationsOwnedOrOperated
64
CY2022Q2 uone Number Of Fm Or M Stations Owned Or Operated
NumberOfFMOrMStationsOwnedOrOperated
54
CY2022Q2 uone Number Of Hd Stations Owned Or Operated
NumberOfHDStationsOwnedOrOperated
8
CY2022Q2 uone Number Of Low Power Television Stations Owned Or Operated
NumberOfLowPowerTelevisionStationsOwnedOrOperated
2
CY2022Q2 uone Number Of Most Populous Market
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13
us-gaap Number Of Reportable Segments
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4
CY2021Q4 us-gaap Unbilled Receivables Current
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10735000
CY2021Q2 us-gaap Unbilled Receivables Current
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8540000
CY2022Q2 uone Customer Advances And Unearned Income
CustomerAdvancesAndUnearnedIncome
7708000
CY2021Q4 uone Customer Advances And Unearned Income
CustomerAdvancesAndUnearnedIncome
7494000
CY2021Q2 uone Customer Advances And Unearned Income
CustomerAdvancesAndUnearnedIncome
5252000
CY2022Q2 uone Audience Deficiency Reserve Current
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7050000
CY2021Q4 uone Audience Deficiency Reserve Current
AudienceDeficiencyReserveCurrent
6020000
CY2021Q2 uone Audience Deficiency Reserve Current
AudienceDeficiencyReserveCurrent
6478000
uone Unearned Event Income
UnearnedEventIncome
379000
uone Unearned Event Income
UnearnedEventIncome
6118000
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
118810000
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
107593000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
231159000
us-gaap Revenue From Contract With Customer Including Assessed Tax
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199033000
CY2022Q2 us-gaap Unbilled Receivables Current
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10470000
uone Payment For Launch Support For Carriage Initiation
PaymentForLaunchSupportForCarriageInitiation
5000000.0
CY2022Q2 uone Payment For Launch Support For Carriage Initiation
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CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
15034000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
17866000
us-gaap Net Income Loss
NetIncomeLoss
31403000
us-gaap Net Income Loss
NetIncomeLoss
17873000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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50806346
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49789892
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50994612
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49124056
CY2022Q2 uone Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
3852197
CY2021Q2 uone Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
3991026
uone Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
3877351
uone Dilutive Securities Stock Options And Restrictive Stock Units
DilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
4062563
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54658543
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53780918
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54871963
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53186619
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2022Q2 uone Reassessed Estimated Fair Value Of Award
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29675000
CY2022Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
29675000
CY2022Q2 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
18690000
CY2021Q4 uone Reassessed Estimated Fair Value Of Award
ReassessedEstimatedFairValueOfAward
28193000
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
28193000
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
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17015000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3169000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3335000
us-gaap Operating Lease Cost
OperatingLeaseCost
6414000
us-gaap Operating Lease Cost
OperatingLeaseCost
6549000
CY2022Q2 us-gaap Variable Lease Cost
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10000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
10000
us-gaap Variable Lease Cost
VariableLeaseCost
20000
us-gaap Variable Lease Cost
VariableLeaseCost
20000
CY2022Q2 us-gaap Lease Cost
LeaseCost
3179000
CY2021Q2 us-gaap Lease Cost
LeaseCost
3345000
us-gaap Lease Cost
LeaseCost
6434000
us-gaap Lease Cost
LeaseCost
6569000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
3503000
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
3419000
us-gaap Operating Lease Payments
OperatingLeasePayments
7006000
us-gaap Operating Lease Payments
OperatingLeasePayments
6750000
CY2022Q2 uone Operating Lease Payments For Liability Reduction
OperatingLeasePaymentsForLiabilityReduction
2479000
CY2021Q2 uone Operating Lease Payments For Liability Reduction
OperatingLeasePaymentsForLiabilityReduction
2248000
uone Operating Lease Payments For Liability Reduction
OperatingLeasePaymentsForLiabilityReduction
4928000
uone Operating Lease Payments For Liability Reduction
OperatingLeasePaymentsForLiabilityReduction
4422000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M4D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M26D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M4D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M26D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1100
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1100
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1100
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1100
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6829000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11886000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10773000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6033000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3723000
CY2022Q2 uone Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
8189000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
47433000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10600000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
36833000
CY2022Q2 uone Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Unfavorable Lease Liability
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedUnfavorableLeaseLiability
812000
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
3200000
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
3200000
CY2022Q2 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
3200000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
16795
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
832847
CY2022Q2 uone Reassessed Estimated Fair Value Of Award
ReassessedEstimatedFairValueOfAward
29700000
CY2021Q4 uone Reassessed Estimated Fair Value Of Award
ReassessedEstimatedFairValueOfAward
28200000
CY2022Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
607000
CY2021Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
908000
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1500000
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1900000
CY2022Q2 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
621000
CY2021Q4 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
423000
CY2022Q2 uone Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Radio Broadcasting Licenses
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRadioBroadcastingLicenses
21100000
CY2022Q2 uone Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Assets
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAssets
1700000
CY2022Q2 uone Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Advertising Credit Liability
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAdvertisingCreditLiability
1900000
CY2022Q2 uone Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Operating Lease Liabilities
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseLiabilities
921000
us-gaap Debt Instrument Description
DebtInstrumentDescription
The 2018 Credit Facility contained customary representations and warranties and events of default, affirmative and negative covenants (in each case, subject to materiality exceptions and qualifications). The 2018 Credit Facility, as amended, also contained certain financial covenants, including a maintenance covenant requiring the Company's total gross leverage ratio to be not greater than 8.0 to 1.00 in 2019, 7.5 to 1.00 in 2020, 7.25 to 1.00 in 2021, 6.75 to 1.00 in 2022 and 6.25 to 1.00 in 2023.
CY2017Q2 us-gaap Debt Instrument Description
DebtInstrumentDescription
In addition to any mandatory or optional prepayments, the Company was required to pay interest on the term loans (i) quarterly in arrears for the base rate loans, and (ii) on the last day of each interest period for LIBOR loans. Certain voluntary prepayments of the term loans during the first six months required an additional prepayment premium. Beginning with the interest payment date occurring in June 2017 and ending in March 2023, the Company was required to repay principal, to the extent then outstanding, equal to 1∕4 of 1% of the aggregate initial principal amount of all term loans incurred on the effective date of the 2017 Credit Facility.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022Q2 us-gaap Goodwill Gross
GoodwillGross
378079000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
4325000
CY2022Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
154207000
uone Goodwill Entercom Asset Exchange
GoodwillEntercomAssetExchange
470000
CY2022Q2 us-gaap Goodwill
Goodwill
219077000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
800000000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
832505000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2022Q2 uone Longterm Portion Of Original Issue Discount
LongtermPortionOfOriginalIssueDiscount
12619000
CY2021Q4 uone Longterm Portion Of Original Issue Discount
LongtermPortionOfOriginalIssueDiscount
13889000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
787381000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
818616000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
3500000
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2022Q2 uone Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
800000000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
800000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9300000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
42200000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.221
uone Estimated Effective Annual Income Tax Rate Reconciliation Percent Total
EstimatedEffectiveAnnualIncomeTaxRateReconciliationPercentTotal
0.271
CY2022Q2 uone Decrease In Unrecognized Tax Benefits Related To State Tax
DecreaseInUnrecognizedTaxBenefitsRelatedToStateTax
680000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
336000
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
172000
us-gaap Share Based Compensation
ShareBasedCompensation
460000
us-gaap Share Based Compensation
ShareBasedCompensation
425000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
20000
uone Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedNumberOfShares
60240
CY2022Q2 uone Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedNumberOfShares
60240
uone Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedNumberOfShares
197256
CY2021Q2 uone Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercised Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisedNumberOfShares
197256
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
118810000
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
107593000
CY2022Q2 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
75561000
CY2021Q2 uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
67348000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2481000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2325000
CY2022Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
16933000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
23835000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
37920000
CY2022Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2295000
CY2021Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1650000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
231159000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
199033000
uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
148967000
uone Operating Expenses Excluding Depreciation Amortization And Impairment Charges And Including Stock Based Compensation
OperatingExpensesExcludingDepreciationAmortizationAndImpairmentChargesAndIncludingStockBasedCompensation
132767000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4886000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4589000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
16933000
us-gaap Operating Income Loss
OperatingIncomeLoss
60373000
us-gaap Operating Income Loss
OperatingIncomeLoss
61677000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3871000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2454000
CY2022Q2 us-gaap Assets
Assets
1254764000
CY2021Q4 us-gaap Assets
Assets
1261108000

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