Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 61

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 61
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 first quarter.

•Adjusted EBITDA(1) of $104.6 million, was flat compared to the prior year.

•Free cash flow(2) of $(80.7) million improved slightly from $(80.9) million in the prior year's first quarter.

The table below presents a summary of our historical results of operations for the periods presented:

(In thousands)Three Months EndedMarch 31,%20252024ChangeRevenue$807,101 $799,038 1.0 %Operating loss(25,434)(34,708)(26.7)%Net loss(280,883)(18,108)1,451.2 %Cash used for operating activities(60,944)(59,277)2.8 %Adjusted EBITDA(1)$104,588 $104,617 — %Free cash flow(2)(80,674)(80,859)(0.2)%

(1) For a definition of Adjusted EBITDA and a reconciliation to Operating loss, the most closely comparable U.S. generally accepted accounting principles ("GAAP") measure, and to Net loss, please see "Reconciliation of Operating loss to Adjusted EBITDA" and "Reconciliation of Net loss to EBITDA and Adjusted EBITDA" in this MD&A. 

(2) For a definition of Free cash flow and a reconciliation to Cash used for operating activities, the most closely comparable GAAP measure, please see “Reconciliation of Cash used for operating activities to Free cash flow” in this MD&A.

19

Results of Operations

The table below presents the comparison of our historical results of operations:

(In thousands)Three Months EndedMarch 31,20252024Revenue$807,101 $799,038 Operating expenses:Direct operating expenses (excludes depreciation and amortization)356,326 341,360 Selling, general and administrative expenses (excludes depreciation and amortization)380,794 385,144 Depreciation and amortization91,901 105,162 Impairment charges2,855 1,508 Other operating expense659 572 Operating loss(25,434)(34,708)Interest expense, net100,386 95,515 Gain (loss) on investments, net(18,594)91,994 Equity in earnings (loss) of nonconsolidated affiliates50 (45)Loss on extinguishment of debt(1,197