Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 84

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 2
Chunk 84
---
 %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 $799,038 Operating expenses:Direct operating expenses (excludes depreciation and amortization)356,326 341,360 Selling, general and administrative expenses (excludes depreciation and amortization)380,794 385,144 Depreciation and amortization91,901 105,162 Impairment charges2,855 1,508 Other operating expense659 572 Operating loss(25,434)(34,708)Interest expense, net100,386 95,515 Gain (loss) on investments, net(18,594)91,994 Equity in earnings (loss) of nonconsolidated affiliates50 (45)Loss on extinguishment of debt(1,197)— Other income (expense), net37 (496)Loss before income taxes(145,524)(38,770)Income tax benefit (expense)(135,359)20,662 Net loss(280,883)(18,108)Less amount attributable to noncontrolling interest341 400 Net loss attributable to the Company$(281,224)$(18,508)

The table below presents the comparison of our revenue streams for the three months ended March 31, 2025 to the three months ended March 31, 2024:

(In thousands)Three Months EndedMarch 31,%20252024ChangeBroadcast Radio$340,736 $359,338 (5.2)%Networks99,463 102,051