Revenue: As of FY2026 Q2, the actual value is USD 977.24 M, beating the estimate of USD 970.15 M.

EBIT: As of FY2026 Q2, the actual value is USD 35.5 M.

Consolidated Results (Q2 2026 vs. Q2 2025)

Operational Metrics

• GAAP Operating Income: iHeartMedia, Inc. reported GAAP Operating income of $35.5 million in Q2 2026, an improvement of 0.4% compared to $35.4 million in Q2 2025.
• Consolidated Adjusted EBITDA: Consolidated Adjusted EBITDA decreased to $151.5 million in Q2 2026, down 2.9% from $156.1 million in Q2 2025.
• Net Loss: The net loss was - $82,536 thousand in Q2 2026, compared to - $83,988 thousand in Q2 2025.
• Consolidated Direct Operating Expenses: These expenses increased by $9.4 million, or 2.4%, during Q2 2026 compared to Q2 2025.
• Consolidated Selling, General & Administrative (SG&A) Expenses: These expenses increased by $48.5 million, or 11.8%, during Q2 2026 compared to Q2 2025.

Cash Flow

• Cash Provided by Operating Activities: Cash provided by operating activities was $64.9 million in Q2 2026, compared to $6.8 million in the prior year period.
• Free Cash Flow: Free Cash Flow was $46.0 million in Q2 2026, compared to - $13.2 million in the prior year period.
• Cash Used for Investing Activities: Cash used for investing activities was - $21.1 million in Q2 2026.
• Cash Used for Financing Activities: Cash used for financing activities was - $4.4 million in Q2 2026.
• Capital Expenditures: Capital expenditures were $18.9 million in Q2 2026, compared to $20.0 million in Q2 2025.

Balance Sheet Metrics (as of June 30, 2026)

• Cash Balance: iHeartMedia, Inc. had $174.4 million of cash.
• Total Available Liquidity: Total available liquidity was $457.2 million.
• Total Debt: Total debt stood at $5,043.0 million.
• Net Debt: Net debt was $4,651.3 million.
• Stockholders’ Deficit: The stockholders’ deficit was - $2,008.3 million, compared to - $1,827.0 million as of December 31, 2025.

Segment Revenue and Operational Metrics (Q2 2026 vs. Q2 2025)

Digital Audio Group

• Revenue: Digital Audio Group revenue was $364,080 thousand, up 12.4% year-over-year (YoY).
  • Podcast Revenue: Podcast revenue was $162,067 thousand, up 20.7% YoY.
  • Digital Revenue excluding Podcast: Digital revenue, excluding Podcast, was $202,013 thousand, up 6.6% YoY.
• Segment Adjusted EBITDA: Segment Adjusted EBITDA was $123,176 thousand, up 14.5% YoY.
• Digital Audio Group Adjusted EBITDA Margin: The margin was 33.8%, compared to 33.2% in Q2 2025.

Multiplatform Group

• Revenue: Multiplatform Group revenue was $535,667 thousand, down 1.6% YoY.
  • Multiplatform Group Revenue (excluding Q2 Political Revenue): This revenue, excluding political, was $525,536 thousand, down 2.8%.
  • Broadcast Radio Revenue: Broadcast Radio revenue was $397,588 thousand, up 0.5% YoY.
  • Networks Revenue: Networks revenue was $103,689 thousand, down 3.8% YoY.
  • Sponsorship and Events Revenue: Sponsorship and Events revenue was $30,532 thousand, down 16.3% YoY.
• Segment Adjusted EBITDA: Segment Adjusted EBITDA was $58,609 thousand, down 39.2% YoY.
• Multiplatform Group Adjusted EBITDA Margin: The margin was 10.9%, compared to 17.7% in Q2 2025.

Audio & Media Services Group

• Revenue: Audio & Media Services Group revenue was $80,465 thousand, up 18.8% YoY.
• Segment Adjusted EBITDA: Segment Adjusted EBITDA was $36,663 thousand, up 54.6% YoY.
• Segment Adjusted EBITDA Margin: The margin was 45.6%, compared to 35.0% in Q2 2025.

Other Metrics

• Asset-based Revolving Credit Facility: The maturity date for the asset-based revolving credit facility was extended from May 17, 2027, until January 30, 2029.

Outlook / Guidance

iHeartMedia, Inc. anticipates consolidated revenue to increase mid-single digits for Q3 2026, with consolidated Adjusted EBITDA expected to be approximately $180 million to $220 million. For the full year 2026, the company projects consolidated Adjusted EBITDA of about $800 million and Free Cash Flow of approximately $200 million. Additionally, iHeartMedia expects minimal cash taxes, $125 million in-year cost savings, total programmatic revenue of approximately $200 million (up ~50%), and a year-end net debt to Adjusted EBITDA ratio in the mid-fives.