Company: IHETW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051036
Chunk: 37

Company: iHeartMedia, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 37
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 the periods presented:

(In thousands)Three Months EndedSeptember 30,20252024Revenue$997,010 $1,008,133 Operating income (loss)(116,277)76,720 Net loss(65,761)(41,325)Cash provided by (used for) operating activities(9,549)102,765 Adjusted EBITDA(1)$204,754 $204,585 Free cash flow(2)(32,815)73,345 

(1)For a definition of Adjusted EBITDA and a reconciliation 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 (