2 This presentation includes information that does not conform to U.S. generally accepted accounting principles (GAAP), such as (i) Adjusted EBITDA and Adjusted EBITDA margin, (ii) Free cash flow, (iii) Free cash flow including net proceeds from real estate sales, (iv) net debt and net leverage, and (v) revenue excluding the effects of political revenue. Since these non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022, or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________ to _________. Commission File Number 001-38987 IHEARTMEDIA, INC. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sec ...

iHeartMedia, Inc. (NASDAQ:IHRT) Q3 2022 Results Conference Call November 3, 2022 4:30 PM ET Company Participants Mike McGuinness - Deputy CFO and Head IR Bob Pittman - Chairman and CEO Rich Bressler - President, COO and CFO Conference Call Participants Steven Cahall - Wells Fargo Dan Day - B. Riley Securities Jim Goss - Barrington Research Operator Good afternoon. My name is Rob, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the iHeartMedia Third Quarter 2022 Earn ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Commission File Number 001-38987 IHEARTMEDIA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 20880 Stone Oak Parkway San Antonio, Texas 78258 (Address of principal executive offices) (Zip Code) Delaware 26-0241222 (I.R.S. Employer Identification No.) (210) 822-2828 (Registrant's telephone number, including area code) Securities registered pursuant to S ...

iHeartMedia, Inc. (NASDAQ:IHRT) Q2 2022 Results Conference Call August 4, 2022 4:30 PM ET Company Participants Mike McGuinness - EVP, Deputy CFO and Head, IR Bob Pittman - Chairman and CEO Rich Bressler - President, COO and CFO Conference Call Participants Daniel Day - B. Riley Steve Cahall - Wells Fargo Mike McGuinness Good afternoon, everyone, and thank you for taking the time to join us for our second quarter 2022 earnings call. Joining me for today's discussion are Bob Pittman, our Chairman and CEO; and ...

Financial Performance - Consolidated revenue for the second quarter of 2022 was $954.0 million, an increase of $92.4 million, or 10.7%, compared to $861.6 million in the prior year's second quarter[112] - Operating income rose to $82.9 million, up $54.8 million from $28.1 million in the prior year's second quarter[112] - Net income for the quarter was $15.2 million, an increase of $47.2 million from a net loss of $32.0 million in the prior year's second quarter[112] - Cash provided by operating activities increased to $155.8 million from $29.1 million in the prior year's second quarter[112] - Adjusted EBITDA for the quarter was $237.2 million, up $52.7 million from $184.5 million in the prior year's second quarter[112] - Free cash flow improved to $106.1 million from a negative $3.0 million in the prior year's second quarter[112] - For the six months ended June 30, 2022, consolidated revenue rose by $229.2 million, or 14.6%, totaling $1.797 billion, up from $1.568 billion in 2021[115] - Operating income for the six months ended June 30, 2022, was $95.2 million, compared to a loss of $48.2 million in the prior year[146] - Adjusted EBITDA for the six months ended June 30, 2022, was $382.4 million, up from $286.8 million in the prior year[146] - Free cash flow for the six months ended June 30, 2022, was $31.4 million, compared to $49.8 million in the prior year[149] Revenue Breakdown - Revenue from the Multiplatform Group increased by $27.5 million, while Segment Adjusted EBITDA rose by $13.1 million compared to the prior year's second quarter[112] - Revenue from the Digital Audio Group increased by $54.6 million, with Segment Adjusted EBITDA up by $24.6 million compared to the prior year's second quarter[112] - Revenue from the Audio & Media Services Group increased by $9.9 million, with Segment Adjusted EBITDA rising by $1.6 million compared to the prior year's second quarter[112] - Digital Audio Group revenue surged by $54.6 million, or 27.6%, for the three months ended June 30, 2022, driven by increased demand for digital advertising and podcasting[114] - Revenue from the Multiplatform Group increased by $100.7 million year-over-year, with Broadcast revenue up by $70.1 million (8.7%) and Networks revenue up by $6.4 million (2.7%) [133] - Digital Audio Group revenue increased by $111.3 million year-over-year, with Digital revenue (excluding Podcast) growing by $48.9 million (18.5%) and Podcast revenue increasing by $62.4 million (68.0%) [138] - Revenue from the Audio & Media Services Group increased by $15.6 million year-over-year, attributed to higher political advertising revenue [144] Expenses - Direct operating expenses increased by $44.9 million, or 12.5%, to $365.4 million for the three months ended June 30, 2022, primarily due to higher variable content costs[116] - SG&A expenses rose by $6.4 million, or 1.7%, to $379.1 million for the three months ended June 30, 2022, driven by increased employee compensation and sales commission expenses[118] - Operating expenses for the Digital Audio Group rose by $74.2 million, driven by higher employee compensation, talent costs, and increased content and production costs [139] - Operating expenses for the Audio & Media Services Group increased by $13.0 million, primarily due to higher employee compensation related to seasonal staffing [145] Tax and Impairment - The effective tax rate for the Company was 10.5% for the three months ended June 30, 2022, influenced by a forecasted increase in valuation allowance against certain deferred tax assets[127] - Impairment charges recognized during the six months ended June 30, 2022, were $1.6 million, a decrease from $37.7 million in the same period of 2021[122] Cash Flow and Liquidity - Cash provided by operating activities for the six months ended June 30, 2022, was $103.6 million, an increase from $100.9 million in the same period of 2021, primarily due to recovery from COVID-19 impacts[156] - Cash used for investing activities was $49.7 million during the six months ended June 30, 2022, primarily reflecting $72.2 million in capital expenditures[157] - Total available liquidity as of June 30, 2022, was approximately $715 million, consisting of $294.8 million in cash and cash equivalents and $420.6 million in borrowing base availability[161] Debt and Interest - As of June 30, 2022, total debt was $5.6 billion, with $294.8 million in cash and cash equivalents, resulting in net debt of approximately $5.3 billion[166] - Approximately 40% of the company's long-term debt bore interest at floating rates as of June 30, 2022, with an estimated interest expense change of $2.5 million for a 50% change in LIBOR[173] - The company anticipates approximately $168 million in cash interest payments for the remainder of 2022[163] Future Outlook and Risks - The company expects to continue funding operations and capital expenditures for at least the next twelve months, despite potential economic challenges[164] - The company is involved in various legal proceedings and has accrued estimates for probable costs related to these claims[169] - Inflation has impacted the company through higher costs for employee compensation, equipment, and third-party services, but the overall effect on historical results is believed to be immaterial[175] - Forward-looking statements regarding future performance are subject to risks and uncertainties, including economic trends, COVID-19 impacts, and competition from alternative media platforms[177] - Factors affecting future performance include weak global economic conditions, intense competition, and the impact of substantial indebtedness[178] - The company acknowledges the risks associated with technological changes and innovations that could affect its business[178] - Legislative and regulatory requirements, as well as ongoing litigation related to music licensing and royalties, are potential risks to future performance[178] - The company has a significant number of outstanding warrants related to its Class A common stock, which presents additional risks[178] - The impact of shifts in population demographics is recognized as a factor that could influence future business performance[178] - The company does not intend to update any forward-looking statements, emphasizing the uncertainty of future events[177]

First Quarter 2022 Investor Presentation May 5, 2022 NASDAQ: IHRT Safe Harbor Statement 2 Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries (the "Company"), to be materially diff ...

iHeartMedia, Inc. (NASDAQ:IHRT) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET Company Participants Michael McGuinness - EVP, Deputy Chief Financial Officer & Head of IR Robert Pittman - Chairman & Chief Executive Officer Richard Bressler - President, Chief Operating Officer & Chief Financial Officer Conference Call Participants Jessica Reif Ehrlich - BofA Securities Steven Cahall - Wells Fargo Sebastiano Petti - JPMorgan Daniel Day - B. Riley Securities Operator Good day, and thank you for stand ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Commission File Number 001-38987 IHEARTMEDIA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 20880 Stone Oak Parkway San Antonio, Texas 78258 (Address of principal executive offices) (Zip Code) Delaware 26-0241222 (I.R.S. Employer Identification No.) (210) 822-2828 (Registrant's telephone number, including area code) Securities registered pursuant to S ...

Fourth Quarter 2021 Investor Presentation February 23, 2022 NASDAQ: IHRT Safe Harbor Statement 2 Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries (the "Company"), to be material ...