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iHeartMedia (IHRT) investor relations material
iHeartMedia Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Q3 2025 consolidated revenue was $997 million, down 1.1% year-over-year; excluding political revenue, revenue increased 2.8%.
Adjusted EBITDA was $205 million, flat year-over-year and slightly above guidance midpoint.
GAAP operating loss was $116 million, compared to $77 million operating income in Q3 2024, due to a $208.5–$209 million non-cash FCC license impairment.
Net loss for Q3 was $65.8–$66 million, compared to $41.3 million in Q3 2024.
New partnerships with Amazon Ads and TikTok were announced to expand digital and programmatic audio offerings.
Financial highlights
Digital Audio Group revenue grew 13.5–14% to $342 million; podcast revenue up 22–22.5% to $140 million.
Multiplatform Group revenue declined 4.6–5% to $591 million; Audio & Media Services revenue fell 26% to $66.6–$67 million.
Adjusted EBITDA margin was 20.5% for Q3 2025.
Free cash flow was negative $32.8–$33 million, down from $73.3 million in Q3 2024.
Cash balance at quarter-end was $192 million; total available liquidity was $510 million.
Outlook and guidance
Q4 2025 Adjusted EBITDA expected between $200–$240 million, below prior year due to lower political revenue.
Q4 consolidated revenue expected down low single digits year-over-year, but up mid-single digits excluding political.
$150 million net cost savings targeted for 2025, with an additional $50 million annual savings expected from 2026.
Management expects sufficient liquidity to fund operations for at least the next twelve months.
Explain FCC license impairment charge impact
Is Q3 cash flow decline temporary or structural?
How do new partnerships impact segment strategy?
What is the timeline for broadcast programmatic revenue impact?
What are the MPG revenue growth drivers for 2026?
What is the debt reduction strategy for excess cash?
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Next iHeartMedia earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
Next iHeartMedia earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
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Frequently asked questions
iHeartMedia Inc. operates a multi-platform media business with assets in radio broadcasting, podcasting, digital streaming, and live events. The company also offers advertising and marketing services through its data-driven platforms and audio networks. It is headquartered in San Antonio, Texas, and its shares are listed on the NASDAQ.
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