Dafinchi AI

IHRT

Consumer

Audio & Media Services Group revenue declined 3.3%, but adjusted EBITDA remained flat year-over-year.
Consolidated revenue was up 0.5% year-over-year, and 1.5% excluding political revenue impact.
Digital Audio Group revenue grew 13.4% to $324 million, with adjusted EBITDA up 17.1% and margins improving to 33.2%.
Free cash flow was negative $13 million compared to $6 million in the prior year quarter.
GAAP operating income was $35.4 million compared to a prior year loss of $909.7 million due to a large impairment charge last year.
iHeartMedia generated adjusted EBITDA of $156 million in Q2 2025, at the upper end of guidance and 4% above prior year.
Multiplatform Group revenue declined 5.4% to $545 million, with adjusted EBITDA down 7.6% and margins slightly compressed.
Net debt stood at approximately $4.6 billion with a net debt to adjusted EBITDA ratio of 6.5x.
Podcast revenue grew 28.5%, exceeding guidance, and remains highly profitable with accretive EBITDA margins.

BIRD

Consumer

Adjusted EBITDA loss improved to $13 million, exceeding the high end of guidance by over $3 million.
Cash and cash equivalents ended at $33 million; inventories down 21% year-over-year.
Operating cash use narrowed to $9 million in Q2, down sequentially.
Q2 gross margin was 40.7%, down from 50.5% a year ago due to promotional activity, inventory adjustments, channel mix shifts, and increased freight and duty costs.
Q2 marketing expense was $9 million or 21% of revenue, down from last year.
Q2 net revenue totaled $40 million, at the high end of guidance.
SG&A expenses decreased by 28% year-over-year, driven by lower payroll and occupancy costs from distributor transitions and store closures.

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