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Segment Reporting (Subsidiary) (Tables)
 6 Months Ended
Jun. 30, 2025
Condensed Income Statements, Captions [Line Items]  
Schedule of Reconciliation of Net Income to Adjusted EBITDA
The following table presents our financial performance by segment:

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Net revenues:
Billboard$512,317 $502,144 $957,214 $941,529 
Other66,994 63,107 127,527 121,872 
Total net revenues$579,311 $565,251 $1,084,741 $1,063,401 
Advertising expenses:
Billboard$221,892 $219,058 $438,823 $428,961 
Other51,943 48,731 103,835 97,752 
Total advertising expenses$273,835 $267,789 $542,658 $526,713 
Segmented adjusted EBITDA:
Billboard adjusted EBITDA$290,425 $283,086 $518,391 $512,568 
Other adjusted EBITDA15,051 14,376 23,692 24,120 
Corporate expenses (1)
(27,093)(25,908)(53,479)(53,212)
Adjusted EBITDA$278,383 $271,554 $488,604 $483,476 
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions.

Reconciliation of adjusted EBITDA to income before income tax expense:

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Adjusted EBITDA$278,383 $271,554 $488,604 $483,476 
Stock-based compensation expense(7,148)(11,150)(17,725)(25,616)
Capitalized contract fulfillment costs, net380 190 5 374 
Depreciation and amortization(78,110)(77,191)(155,931)(152,419)
Gain on disposition of assets and investments
4,176 824 73,961 3,012 
Equity in (loss) earnings of investee(174)4 206 (555)
Interest expense, net
(40,103)(43,765)(77,943)(87,785)
Income before income tax expense
$157,404 $140,466 $311,177 $220,487 
LAMAR MEDIA CORP. AND SUBSIDIARIES  
Condensed Income Statements, Captions [Line Items]  
Schedule of Reconciliation of Net Income to Adjusted EBITDA
The following table presents our financial performance by segment:

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Net revenues:
Billboard$512,317 $502,144 $957,214 $941,529 
Other66,994 63,107 127,527 121,872 
Total net revenues$579,311 $565,251 $1,084,741 $1,063,401 
Advertising expenses:
Billboard$221,892 $219,058 $438,823 $428,961 
Other51,943 48,731 103,835 97,752 
Total advertising expenses$273,835 $267,789 $542,658 $526,713 
Segmented adjusted EBITDA:
Billboard adjusted EBITDA$290,425 $283,086 $518,391 $512,568 
Other adjusted EBITDA15,051 14,376 23,692 24,120 
Corporate expenses (1)
(26,943)(25,727)(53,220)(52,893)
Adjusted EBITDA$278,533 $271,735 $488,863 $483,795 
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions.

Reconciliation of adjusted EBITDA to income before income tax expense:

Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Adjusted EBITDA$278,533 $271,735 $488,863 $483,795 
Stock-based compensation expense(7,148)(11,150)(17,725)(25,616)
Capitalized contract fulfillment costs, net380 190 5 374 
Depreciation and amortization(78,110)(77,191)(155,931)(152,419)
Gain on disposition of assets and investments
4,176 824 73,961 3,012 
Equity in (loss) earnings of investee(174)4 206 (555)
Interest expense, net
(40,103)(43,765)(77,943)(87,785)
Income before income tax expense
$157,554 $140,647 $311,436 $220,806