National CineMedia(NCMI) - 2025 Q1 - Quarterly Results

Financial Performance - Total revenue for Q1 2025 decreased by 6.7% to $34.9 million compared to $37.4 million in Q1 2024[3] - Operating loss increased to $23.9 million, or negative $0.32 per diluted share, for Q1 2025, compared to a loss of $22.7 million, or negative $0.36 per diluted share, in Q1 2024[3] - Adjusted OIBDA for Q1 2025 was negative $9.0 million, worsening from negative $5.7 million in Q1 2024[3] - Total revenue for the quarter ended March 27, 2025, was $34.9 million, a decrease of 6.7% from $37.4 million in the same quarter of the previous year[22] - Adjusted OIBDA for the quarter was $(9.0) million, compared to $(5.7) million in the prior year, indicating a worsening of 57.9%[22] - The operating loss increased to $(23.9) million from $(22.7) million, a rise of 5.3% year-over-year[22] - Loss per share (diluted) was $(0.32), slightly improved from $(0.36) in the same quarter last year[22] - Adjusted loss per share (diluted) was $(0.24), compared to $(0.19) in the prior year, indicating a deterioration of 26.3%[22] Attendance and Screen Count - Total attendance for Q1 2025 was 72.3 million, down from 75.8 million in Q1 2024[19] - Total attendance decreased to 72.3 million from 75.8 million, representing a decline of 7.3%[22] - The number of total screens at the end of Q1 2025 was 17,875, a decrease from 18,297 screens in Q1 2024[19] Cash and Assets - Cash, cash equivalents, and marketable securities decreased to $63.1 million as of March 27, 2025, from $78.2 million at the end of 2024[17] - Total assets decreased to $503.8 million as of March 27, 2025, down from $568.6 million at the end of 2024[17] Advertising Revenue - Total advertising revenue (excluding beverage) was $32.3 million, down from $34.8 million, reflecting a decline of 7.2% year-over-year[22] - National advertising revenue per attendee was $0.379, down from $0.389, a decrease of 2.6%[22] - Local and regional advertising revenue per attendee was $0.068, down from $0.070, reflecting a decline of 2.9%[22] Future Expectations - For Q2 2025, the company expects total revenue between $56.0 million and $61.0 million, with Adjusted OIBDA ranging from $2.5 million to $7.5 million[5] Strategic Partnerships - A new long-term agreement with AMC Theatres extends the partnership through 2042, aligning payment structures with performance metrics[6] Dividend Declaration - The company declared a cash dividend of $0.03 per share, totaling approximately $2.8 million, to be paid on May 30, 2025[4]