Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 83

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 83
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. We continue to explore opportunities for further efficiencies.

18

Executive Summary 

Consolidated revenues for the first quarter of 2025 increased due to a continued increase in demand for digital advertising, partially offset by lower spending on radio advertising as a result of continued uncertain market conditions. 

The key developments that impacted our business during the quarter are summarized below:

•Consolidated Revenue of $807.1 million increased $8.1 million, or 1.0%, during the quarter ended March 31, 2025 compared to Consolidated Revenue of $799.0 million in the prior year's first quarter.

•Multiplatform Group Revenue decreased $20.5 million, or 4.2%, and Segment Adjusted EBITDA decreased $7.2 million, or 9.3%, compared to the prior year's first quarter, respectively.

•Digital Audio Group Revenue increased $38.3 million, or 16.0%, and Segment Adjusted EBITDA increased $19.0 million, or 27.8%, compared to the prior year's first quarter, respectively.

•Audio & Media Services Group Revenue decreased $9.8 million, or 14.2%, and Segment Adjusted EBITDA decreased $7.9 million, or 33.3%, compared to the prior year's first quarter, respectively.

•Operating loss of $25.4 million improved $9.3 million from $34.7 million in the prior year’s first quarter.

•Net loss of $280.9 million increased $262.8 million from $18.1 million in the prior year's first quarter. 

•Cash flows used for operating activities of $60.9 million increased from $59.3 million in the prior year's 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