National CineMedia(NCMI)2025-03-06 21:10Revenue Performance - Total revenue for Q4 2024 decreased 5.1% to 90.9 million in Q4 2023, primarily due to an unfavorable film slate[3] - For the full year 2024, total revenue decreased 7.3% to 259.8 million in 2023, attributed to decreased attendance due to a reduced movie slate[4] - Total revenue for the quarter ended December 26, 2024, was 90.9 million for the same period in 2023[18] - Total revenue for the year ended December 26, 2024, was 259.8 million in 2023[33] Income and Profitability - Operating income for Q4 2024 was 21.3 million in Q4 2023[3] - The company reported a net income of 0.26 per diluted share, for Q4 2024, compared to 0.24 per diluted share, in Q4 2023[5] - For the year ended December 26, 2024, the operating loss decreased to 180.9 million in 2023[4] - Operating income for the quarter was 21.3 million in the same quarter last year[25] - Net income attributable to NCM, Inc. for the quarter was 23.7 million in the prior year[18] Adjusted OIBDA - Adjusted OIBDA for Q4 2024 decreased to 39.8 million in Q4 2023[3] - Adjusted OIBDA for the quarter was 39.8 million in the prior year, with an adjusted OIBDA margin of 40.6%[25] - Adjusted OIBDA for the quarter ended December 26, 2024, was 39.8 million in the prior year, reflecting a decline of 12.1%[33] - The Adjusted OIBDA margin for the quarter ended December 26, 2024, was 40.6%, compared to 43.8% in the same quarter of 2023, showing a decline of 3.2 percentage points[33] Advertising Revenue - National advertising revenue decreased to 71.9 million, while local and regional advertising revenue fell to 16.2 million[25] Attendance and Market Performance - Total attendance for the quarter was 100.6 million, up from 82.4 million in the previous year, representing a 22% increase[22] - The company highlighted the success of films like Wicked and Moana 2 as key drivers for the cinema industry's performance in 2024[2] Future Projections - The company expects Q1 2025 revenue to be between 36.0 million, with Adjusted OIBDA projected to be between negative 7.5 million[8] - The company is optimistic about the first half of fiscal year 2025 based on strong second quarter sales pacing[8] Assets and Expenditures - Cash, cash equivalents, and marketable securities increased to 37.6 million year-over-year[20] - Total assets remained relatively stable at 567.7 million in the previous year[20] - The number of total screens at period end decreased to 18,028 from 18,403 year-over-year[22] - Capital expenditures for the quarter were 3.0 million in the same quarter last year[26] Costs and Expenses - Share-based compensation costs increased to 1.6 million in the same quarter of 2023, representing an increase of 87.5%[34] - Integration and encumbered theater payments for the year ended December 26, 2024, were 7.2 million in 2023, a decrease of 11.1%[33] - The company incurred 7.1 million in the same quarter of 2023, a decrease of 85.8%[33] - Workforce reorganization costs amounted to 8.9 million for the year ended December 28, 2023, primarily related to certain intangible assets[34] Strategic Focus - The company is focusing on transitioning satellite providers and optimizing its technology offerings, incurring one-time costs in these areas during 2024[36]