iHeartMedia(US:IHRT)2021-05-07 16:40Financial Performance - Q1 2021 - iHeartMedia's Q1 revenue was $707 million, a 9.5% YoY decrease; excluding political revenue, the decrease was 7% YoY[5] - Adjusted EBITDA for Q1 was $102 million, compared to $140 million in the prior year period[5] - The company generated $72 million in cash flows from operating activities and $53 million in free cash flow[5] - As of March 31, 2021, the company's cash balance and total available liquidity were $529 million and $707 million, respectively[5] Revenue Trends and Guidance - April revenues were up approximately 85% YoY, with podcasting revenue up approximately 170%[6] - The company expects Q2 revenues to be up approximately 65% YoY[6] Digital Audio Group Performance - Digital Audio Group revenues increased by 70% YoY[7] - Podcast revenues were up 142% YoY, while digital revenue excluding podcasts was up 55% YoY[7] - The Digital Audio Group's Adjusted EBITDA was $40 million, a 141% YoY increase, with margins expanding by 750 bps YoY[7] - The Digital Audio Group contributed 22% of the company's revenues and 39% of the company's consolidated Adjusted EBITDA[7] Multiplatform Group Performance - The Multiplatform Group's Q1 revenue was down 21% YoY; excluding political revenue, it was down 19% YoY, an improvement of approximately 800 bps from Q4 2020[8]