iHeartMedia revenue up 9.6% on digital gains, but cash burn deepens and ABL draws signal stress

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 revenue grew 9.6% to $884M vs 1.0% prior year, driven by digital/podcast demand and non-cash strategic marketing initiatives. However, Adjusted EBITDA fell 11.4% to $92.6M as trade/barter expenses offset gains.

  MD&A: Consolidated Results verify on EDGAR →
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  Free cash flow worsened from negative $80.7M to negative $114.5M, while operating cash usage jumped $31.6M to $92.5M. Company drew $75M on ABL in April 2026 citing 'market uncertainty,' bringing total ABL borrowings to $125M.

  MD&A: Liquidity & Capital Resources verify on EDGAR →
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  New $50M cost reduction initiative announced in Q2 2026, adding to $100M in previously announced 2026 savings. Total modernization target now $150M annualized, with H2 2026 realization expected.

  MD&A: Modernization Initiatives verify on EDGAR →