Company: IHETW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051036
Chunk: 89

Company: iHeartMedia, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 89
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 to Operating income (loss), the most closely comparable U.S. generally accepted accounting principles ("GAAP") measure, and to Net loss, please see "Reconciliation of Operating income (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 provided by (used for) operating activities, the most closely comparable GAAP measure, please see “Reconciliation of Cash provided by (used for) operating activities to Free cash flow” in this MD&A.

25

Results of Operations

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

(In thousands)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue$997,010 $1,008,133 $2,737,764 $2,736,263 Operating expenses:Direct operating expenses (excludes depreciation and amortization)399,140 409,745 1,146,660 1,133,154 Selling, general and administrative expenses (excludes depreciation and amortization)414,424 418,833 1,208,300 1,235,591 Depreciation and amortization90,061 101,331 272,331 310,849 Impairment charges208,501 412 213,908 922,144 Other operating expense1,161 1,092 2,906 2,180 Operating income (loss)(116,277)76,720 (106,341)(867,655)Interest expense, net101,779 95,715 303,059 286,807 Gain (loss) on investments, net(13,203)(103)(32,698)91,479 Equity in earnings (loss) of nonconsolidated affiliates13 (2,587)12 (2,693)Loss on extinguishment of debt(109)— (1,569)— Other income (expense), net(15)1,195 1,026 468 Loss before income taxes(231,370)(20,490)(442,629)(1,065,208)Income tax benefit (expense)165,609 (20,835)11,997 23,786 Net loss(65,761)(41,325)(430,632)(