[PART I - Financial Information](index=4&type=section&id=PART%20I) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited financial statements reflect a significant net loss and total deficit, with management expressing substantial doubt about the company's ability to continue as a going concern [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Data (As of September 30, 2021 vs. December 31, 2020) | Balance Sheet Item | Sep 30, 2021 (in millions) | Dec 31, 2020 (in millions) | Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $110.1 | $180.3 | ▼ $70.2 | | Total current assets | $153.6 | $199.9 | ▼ $46.3 | | Total assets | $820.1 | $886.2 | ▼ $66.1 | | Long-term debt, net | $1,093.6 | $1,049.6 | ▲ $44.0 | | Total liabilities | $1,205.3 | $1,154.8 | ▲ $50.5 | | Total equity/(deficit) | $(385.2) | $(268.6) | ▼ $116.6 | [Unaudited Condensed Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) Q3 2021 vs Q3 2020 Performance (Three Months Ended) | Metric | Q3 2021 (in millions) | Q3 2020 (in millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | $31.7 | $6.0 | ▲ 428.3% | | Operating Loss | $(18.7) | $(21.3) | Improved | | Net Loss Attributable to NCM, Inc. | $(15.2) | $(12.7) | Worsened | | Basic and Diluted EPS | $(0.19) | $(0.16) | Worsened | YTD 2021 vs YTD 2020 Performance (Nine Months Ended) | Metric | YTD 2021 (in millions) | YTD 2020 (in millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | $51.1 | $74.7 | ▼ 31.6% | | Operating Loss | $(76.6) | $(40.2) | Worsened | | Net Loss Attributable to NCM, Inc. | $(57.3) | $(30.2) | Worsened | | Basic and Diluted EPS | $(0.72) | $(0.39) | Worsened | [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary (Nine Months Ended) | Cash Flow Activity | Sep 30, 2021 (in millions) | Sep 24, 2020 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(92.5) | $85.9 | ▼ $178.4 | | Net cash (used in) provided by investing activities | $(3.6) | $15.5 | ▼ $19.1 | | Net cash provided by financing activities | $25.9 | $60.4 | ▼ $34.5 | | **Change in Cash and Cash Equivalents** | **$(70.2)** | **$161.8** | **▼ $232.0** | - Financing activities in the first nine months of 2021 included proceeds from issuing **$50.0 million in term loans**, offset by dividend payments of **$12.9 million** and debt issuance costs of **$7.2 million**[17](index=17&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) - The company's business was significantly impacted by the COVID-19 pandemic, with advertising revenue remaining **significantly below historical levels**[27](index=27&type=chunk) - Management has concluded that conditions raise **substantial doubt about the Company's ability to continue as a going concern**[36](index=36&type=chunk) - As of September 30, 2021, NCM LLC had total outstanding debt of **$1.108 billion**[79](index=79&type=chunk) - On November 8, 2021, the company declared a quarterly cash dividend of **$0.05 per share**, totaling approximately **$4.0 million**[116](index=116&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a Q3 revenue recovery alongside ongoing financial strain, highlighting liquidity management efforts and reiterating substantial doubt about continuing as a going concern [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q3 2021 vs. Q3 2020 Revenue Breakdown (in millions) | Revenue Category | Q3 2021 | Q3 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | National and regional | $22.9 | $3.5 | $19.4 | 554.3% | | Local | $5.4 | $2.3 | $3.1 | 134.8% | | Founding member beverage | $3.4 | $0.2 | $3.2 | NM | | **Total Revenue** | **$31.7** | **$6.0** | **$25.7** | **428.3%** | - The dramatic increase in Q3 2021 revenue was driven by a significant rise in theater attendance, from **5.2 million in Q3 2020 to 75.7 million in Q3 2021**, as theaters reopened[138](index=138&type=chunk)[140](index=140&type=chunk) - For the first nine months of 2021, total revenue **decreased by 31.6% to $51.1 million**, primarily due to the inclusion of a pre-pandemic first quarter in the 2020 results[155](index=155&type=chunk) - Total operating expenses for the nine months ended September 30, 2021 **increased 11.1% to $127.7 million**, driven by higher theater access and administrative costs as operations resumed[159](index=159&type=chunk) [Financial Condition and Liquidity](index=36&type=section&id=Financial%20Condition%20and%20Liquidity) - The company has implemented significant cost-saving measures to preserve cash, including furloughs, salary reductions, and a **reduction in the quarterly dividend to $0.05 per share**[180](index=180&type=chunk) Liquidity Summary (in millions) | Metric | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | Cash, cash equivalents and marketable securities | $111.3 | $181.8 | | NCM LLC revolving credit facility availability | $6.8 | $4.4 | | **Total liquidity** | **$118.1** | **$186.2** | - The company **does not expect to meet its financial covenants within one year**, raising substantial doubt about its ability to continue as a going concern[182](index=182&type=chunk) - Operating cash flow for the first nine months of 2021 was a **net use of $92.5 million**, a sharp reversal from the **$85.9 million of cash provided** in the same period of 2020[186](index=186&type=chunk)[188](index=188&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risk is interest rate fluctuation on its variable-rate debt, with a 1% change impacting annual interest expense by approximately $4.8 million - The company is exposed to interest rate risk on its variable-rate debt, with **43% of total borrowings** at variable rates as of September 30, 2021[196](index=196&type=chunk)[184](index=184&type=chunk) - A **100-basis point (1%) fluctuation** in market interest rates would change annual cash interest expense by approximately **$4.8 million**[196](index=196&type=chunk)[197](index=197&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2021, with no material changes to internal controls during the quarter - Based on an evaluation as of September 30, 2021, management concluded that the company's **disclosure controls and procedures were effective**[200](index=200&type=chunk) - **No material changes** occurred during the third quarter of 2021 that are reasonably likely to materially affect the company's internal control over financial reporting[202](index=202&type=chunk) [PART II - Other Information](index=41&type=section&id=PART%20II) [Item 1. Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is not aware of any pending litigation that would materially affect its financial condition or operations - The company is not aware of any pending litigation that would **materially and adversely affect** its financial condition or results of operations[204](index=204&type=chunk) [Item 1A. Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) The company highlights the critical risk of failing to meet financial covenants, which raises substantial doubt about its ability to continue as a going concern - A significant risk is that the company **does not expect to meet its financial covenants** under its Senior Secured Credit Facility within the next year[206](index=206&type=chunk) - Failure to meet covenants could allow lenders to **accelerate debt repayment**, which the company would be unable to satisfy with current liquidity[206](index=206&type=chunk) - These conditions raise **substantial doubt about the company's ability to continue as a going concern**, which could lead to investors losing all or part of their investment[207](index=207&type=chunk)[208](index=208&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company discloses shares repurchased from employees to satisfy tax withholding obligations on vested restricted stock - The company repurchased a total of **92,589 shares** from employees during Q3 2021 to fund tax withholding obligations on vested restricted stock[209](index=209&type=chunk)[210](index=210&type=chunk) [Item 6. Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including a new CFO employment agreement, executive certifications, and XBRL data files - Exhibits filed with the report include the employment agreement for CFO Ronnie Y. Ng, certifications from the CEO and CFO, and XBRL financial data[214](index=214&type=chunk)

Financial Data and Key Metrics Changes - In Q2 2021, the company recorded $14 million in revenue, up 250% compared to Q2 2020, but significantly below the $110.2 million in Q2 2019, reflecting a 75% decline in attendance compared to 2019 levels [34][40] - Adjusted OIBDA for Q2 was negative $18.7 million, compared to negative $12.7 million in Q2 2020, primarily due to increased theater access fees as attendance rose [36] - The GAAP loss per diluted share was $0.28 in Q2 2021, compared to a loss of $0.18 in Q2 2020 [41] Business Line Data and Key Metrics Changes - The cinema advertising business is recovering, with 97% of theaters in the network open by the end of Q2 2021, leading to a small amount of in-theater revenues compared to none in Q2 2020 [13][14] - Approximately half of the top 20 upfront partners from 2019 have returned for 2021, with another 25% expected to return by the end of Q3 [16] Market Data and Key Metrics Changes - The company noted a significant pent-up demand for cinema experiences, evidenced by strong box office performances of films like "A Quiet Place 2" and "F9" [8][10] - The advertising market is seeing a shift as traditional TV viewership declines, creating opportunities for cinema advertising as marketers seek premium video GRPs [17][18] Company Strategy and Development Direction - The company is focusing on diversifying its marketing and product offerings by expanding its online presence and consumer analytics [7][21] - New digital advertising offerings are being developed, including partnerships with platforms like YouTube and TikTok to reach younger audiences [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the cinema business, anticipating a return to pre-pandemic revenue levels by the end of 2021, contingent on the stability of the film release schedule [54] - The company is managing liquidity through a short-term revolving debt facility to bridge working capital deficits as advertising revenue rebuilds [46][47] Other Important Information - The company declared a quarterly cash dividend of $0.05 per share, resulting in a current yield of 6.5% based on the closing share price [48] - Total debt at the end of Q2 2021 increased to $1.01 billion, with an average interest rate of approximately 5.6% [45] Q&A Session Summary Question: What trends are seen in the scatter market? - Management noted that the scatter market is recovering well, with traditional advertisers returning, including entertainment clients and CPG companies [60][61] Question: How are advertisers feeling about their budgets and pricing? - Advertisers are focused on flexibility rather than price, wanting the ability to shift their advertising dollars as needed [65][66] Question: Is theater attendance a good proxy for advertiser confidence? - Consistent movie attendance is crucial for building advertiser confidence, with blockbuster films helping but not being the sole factor [74][75]

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited financial statements for July 1, 2021, reflect COVID-19 impact, showing weakened balance sheet, Q2 revenue rebound, but expanded losses and negative operating cash flow [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of July 1, 2021, total assets decreased to $851.0 million, liabilities increased to $1,200.0 million, and equity deficit worsened to $(349.0) million Condensed Consolidated Balance Sheet Data (in millions) | Metric | July 1, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $175.5 | $199.9 | | **Total Assets** | $851.0 | $886.2 | | **Total Current Liabilities** | $53.4 | $50.0 | | **Long-term Debt, net** | $1,093.8 | $1,049.6 | | **Total Liabilities** | $1,200.0 | $1,154.8 | | **Total Equity/(Deficit)** | $(349.0) | $(268.6) | [Unaudited Condensed Consolidated Statements of Income and Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) Q2 2021 revenue rose to $14.0 million, but operating loss widened; YTD revenue fell to $19.4 million, with net loss expanding to $(42.1) million Condensed Consolidated Statements of Income (in millions, except per share data) | Metric | Q2 2021 | Q2 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $14.0 | $4.0 | $19.4 | $68.7 | | **Operating Loss** | $(29.6) | $(23.8) | $(57.9) | $(18.9) | | **Consolidated Net Loss** | $(46.9) | $(33.4) | $(88.9) | $(41.6) | | **Net Loss Attributable to NCM, Inc.** | $(22.7) | $(13.8) | $(42.1) | $(17.5) | | **Basic & Diluted EPS** | $(0.28) | $(0.18) | $(0.53) | $(0.22) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Six months ended July 1, 2021, saw negative operating cash flow of $(61.6) million, with cash and cash equivalents decreasing by $32.9 million Condensed Consolidated Statements of Cash Flows (in millions) | Metric | Six Months Ended July 1, 2021 | Six Months Ended June 25, 2020 | | :--- | :--- | :--- | | **Net cash (used in) provided by operating activities** | $(61.6) | $107.4 | | **Net cash (used in) provided by investing activities** | $(2.9) | $15.5 | | **Net cash provided by financing activities** | $31.6 | $66.6 | | **Change in cash and cash equivalents** | $(32.9) | $189.5 | | **Cash and cash equivalents at end of period** | $147.4 | $245.4 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail COVID-19 impact, Q2 revenue rebound, significant debt, credit agreement amendments, related-party transactions, and subsequent dividend declaration - As of July 1, 2021, approximately **97.0%** of the theaters in the company's network were open, leading to the highest attendance since the start of the COVID-19 pandemic. However, advertising revenue remained significantly below historical levels[27](index=27&type=chunk) - AMC redeemed its membership units in exchange for NCM, Inc. common stock on March 23, 2021, reducing its ownership in NCM LLC to **0.0%** as of July 1, 2021[26](index=26&type=chunk) Disaggregation of Revenue (in millions) | Revenue Type | Q2 2021 | Q2 2020 | YTD 2021 | YTD 2020 | | :--- | :--- | :--- | :--- | :--- | | National and regional | $8.9 | $1.7 | $12.6 | $51.5 | | Local | $3.0 | $2.3 | $4.2 | $11.7 | | Founding member beverage | $2.1 | $0.0 | $2.6 | $5.5 | | **Total Revenue** | **$14.0** | **$4.0** | **$19.4** | **$68.7** | Total Outstanding Debt (in millions) | Borrowings | July 1, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Revolving credit facility | $167.0 | $167.0 | | Term loans - first tranche | $261.9 | $263.3 | | Term loans - second tranche | $49.9 | $0.0 | | Senior unsecured notes due 2026 | $230.0 | $230.0 | | Senior secured notes due 2028 | $400.0 | $400.0 | | **Total borrowings** | **$1,108.8** | **$1,060.3** | - On March 8, 2021, NCM LLC amended its Credit Agreement, incurring a new **$50.0 million** term loan and obtaining a waiver of non-compliance with key financial covenants through the quarter ending June 30, 2022 (Extended Covenant Waiver Holiday)[76](index=76&type=chunk)[78](index=78&type=chunk)[82](index=82&type=chunk) - On August 9, 2021, the company declared a cash dividend of **$0.05 per share**, payable on September 6, 2021[111](index=111&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses COVID-19 impact, Q2 revenue rebound, weak H1 performance, cost-saving measures, and liquidity efforts, while remaining optimistic about industry recovery - As of July 1, 2021, approximately **97.0%** of the company's network theaters were open, resulting in the highest attendance since the start of the pandemic, though advertising revenue remained significantly below historical levels[119](index=119&type=chunk) - To ensure liquidity, the company has reduced headcount by **over 30%** compared to pre-pandemic levels and secured board approval for a new **$20.0 million** unsecured revolving loan agreement between NCM Inc. and NCM LLC[120](index=120&type=chunk)[121](index=121&type=chunk) Q2 2021 vs Q2 2020 Results of Operations (in millions) | Metric | Q2 2021 | Q2 2020 | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $14.0 | $4.0 | 250.0% | | **Total Operating Expenses** | $43.6 | $27.8 | 56.8% | | **Operating Loss** | $(29.6) | $(23.8) | 24.4% | | **Adjusted OIBDA** | $(18.7) | $(12.7) | 47.2% | YTD 2021 vs YTD 2020 Results of Operations (in millions) | Metric | YTD 2021 | YTD 2020 | % Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $19.4 | $68.7 | (71.8)% | | **Total Operating Expenses** | $77.3 | $87.6 | (11.8)% | | **Operating Loss** | $(57.9) | $(18.9) | 206.3% | | **Adjusted OIBDA** | $(34.9) | $1.7 | (2152.9)% | - The company has implemented numerous cost-saving measures, including employee furloughs and salary reductions, suspension of the 401K match, deferral of capital expenditures, and a reduction in the quarterly dividend to **$0.05 per share**[173](index=173&type=chunk)[178](index=178&type=chunk) - Under its amended credit agreement, NCM LLC must maintain a minimum liquidity of **$55.0 million** and is restricted from making cash distributions to its members (including NCM, Inc.) until at least the third quarter of 2022, subject to meeting certain leverage covenants[176](index=176&type=chunk)[181](index=181&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risk is interest rate fluctuations on variable-rate debt, where a 100-basis point increase would raise annual interest expense by $4.8 million - The company's primary market risk is interest rate risk related to its $175.0 million revolving credit facility and term loans[189](index=189&type=chunk) - A 100-basis point fluctuation in market interest rates would change the company's annual cash interest expense by approximately **$4.8 million** based on outstanding balances as of July 1, 2021[189](index=189&type=chunk)[190](index=190&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of July 1, 2021, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of July 1, 2021, the Chief Executive Officer concluded that the company's disclosure controls and procedures were effective[192](index=192&type=chunk) - No changes occurred during the quarter ended July 1, 2021, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[194](index=194&type=chunk) [PART II - OTHER INFORMATION](index=40&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company is not aware of any pending litigation that would have a material adverse effect on its operating results or financial condition - The company reports no material legal proceedings[196](index=196&type=chunk) [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes from the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 - No material changes to risk factors were reported since the last Form 10-K filing[197](index=197&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 64,251 shares from employees during the quarter to satisfy tax withholding obligations upon restricted stock vesting Issuer Purchases of Equity Securities | Period | Total Number of Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | April 2 - April 29, 2021 | 3,711 | $4.52 | | April 30 - May 27, 2021 | 60,540 | $4.27 | | May 28 - July 1, 2021 | — | $— | [Item 3. Defaults Upon Senior Securities](index=40&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[200](index=200&type=chunk) [Item 5. Other Information](index=41&type=section&id=Item%205.%20Other%20Information) The company reports no other information - None[203](index=203&type=chunk) [Item 6. Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including employment agreements and required certifications

Q1 '21 Earnings Supplemental Presentation Liquidity and COVID-19 Update Forward-Looking Statements 2 This presentation contains various forward-looking statements that reflect management's current expectations or beliefs regarding future events. Investors are cautioned that reliance on these forward-looking statements involves risks and uncertainties. Although the Company believes that the assumptions used in the forward-looking statements are reasonable, any of these assumptions could prove to be inaccurat ...

National CineMedia, Inc. (NASDAQ:NCMI) Q1 2021 Results Conference Call May 10, 2021 5:00 PM ET Company Participants Ted Watson - SVP, Finance Tom Lesinski - CEO Conference Call Participants Eric Wold - B. Riley Securities Mike Hickey - The Benchmark Company Jim Goss - Barrington Research Operator Good day and welcome to the National CineMedia, Incorporation First Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being rec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-Q ____________________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 1, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-33296 _____________________________________________ ...

COVID-19 Impact and Theater Operations - As of December 2020, 60% of National CineMedia's (NCM) advertising network theaters were closed due to COVID-19, improving to 48% by March 8, 2021[6] - NCM LLC's payments are tied to attendance, active screens, and revenue, resulting in reduced expenses during theater closures and periods of lower attendance[7] Financial Position and Liquidity - NCM LLC started Q4 2020 with $1574 million in cash, ending with $1239 million[8] - Accounts receivable increased from $90 million to $162 million during Q4 2020[8] - NCM LLC has a liquidity runway of 12-13 months without further revenue, before considering bank debt covenants[8] Credit Agreement Amendment - NCM LLC amended its Credit Agreement on March 8, 2021, modifying covenants and waiving compliance through June 30, 2022[11] - The amendment sets specific leverage ratios for the quarter ending around September 29, 2022: 675 to 100 for the consolidated net total leverage ratio and 550 to 100 for the consolidated net senior secured leverage ratio[11] - NCM LLC is restricted from making cash distributions until after delivering a compliance certificate for the quarter ending around September 29, 2022, and only if certain conditions are met, including a senior secured financial covenant leverage ratio of 400 to 100 or less and outstanding revolving loans of $390 million or less[13] - NCM LLC will incur $500 million in new incremental term loans for general corporate purposes, with an interest rate of LIBOR plus 800% and a maturity of December 20, 2024[15] 2020 Highlights and Subsequent Events - NCM upgraded its planning, proposal, and inventory tracking system, expecting annual overhead savings of approximately $12 million from 2019 levels[18] - Total first- and second-party data sets for NCM's digital platform reached over 170 million as of December 31, 2020, up from 106 million a year prior[20] - NCM signed a long-term cinema advertising affiliate agreement with Harkins Theatres, adding approximately 500 screens and 33 theaters beginning in May 2021[22] Q4 and YTD 2020 Financial Performance - Q4 2020 total revenue decreased 893% to $157 million compared to Q4 2019[25] - Q4 2020 Adjusted OIBDA decreased 1119% to -$99 million[25] - YTD 2020 total revenue decreased 797% to $904 million compared to YTD 2019[39] - YTD 2020 Adjusted OIBDA decreased 1093% to -$194 million[39]

National CineMedia, Inc. (NASDAQ:NCMI) Q4 2020 Earnings Conference Call March 8, 2020 5:00 PM ET Company Participants Ted Watson - SVP, Finance Tom Lesinski - CEO Conference Call Participants Eric Wold - B Riley Securities Eric Handler - MKM Partners Mike Hickey - The Benchmark Company Operator Greetings and welcome to the National CineMedia, Inc., Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ FORM 10-K __________________________________________________________ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to __________________ Commission file n ...

National CineMedia, Inc. (NASDAQ:NCMI) Q3 2020 Earnings Conference Call November 2, 2020 5:00 PM ET Company Participants Ted Watson - Senior Vice President, Investor Relations Tom Lesinski - Chief Executive Officer Conference Call Participants Matt Swope - Baird Operator Greetings and welcome to the National CineMedia, Inc., Q3 2020 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the conference over to our host, Mr. Ted Watson, Senior Vi ...