Revenue Performance - Total revenue for Q1 2025 reached $47.2 million, a 27% increase compared to Q1 2024[5] - Baseball revenue increased by 30% to $28.6 million, driven primarily by a 104% rise in broadcasting revenue[6][7] - Mixed-use development revenue grew 23% to $18.6 million, attributed to higher rental income and increased parking and sponsorship revenue[8] - Total revenue for Q1 2025 was $47,211,000, an increase of 27.4% compared to $37,080,000 in Q1 2024[27] - Baseball revenue increased to $28,621,000 in Q1 2025, up 30.5% from $21,970,000 in Q1 2024[27] - Mixed-use development revenue rose to $18,590,000, a 23.8% increase from $15,110,000 in the same period last year[27] Financial Performance - Adjusted OIBDA improved to $(28.5) million, a 15% increase from $(33.8) million in the prior year[5][20] - Operating income loss decreased by 15% to $(44.5) million from $(52.4) million year-over-year[5][20] - Operating loss for Q1 2025 was $44,452,000, compared to a loss of $52,355,000 in Q1 2024, reflecting an improvement of 15.5%[27] - Net loss for Q1 2025 was $41,391,000, an improvement from a net loss of $51,272,000 in Q1 2024[27] - The company reported a basic net loss per share of $0.66 for Q1 2025, improving from a loss of $0.83 per share in Q1 2024[27] Cash and Debt Management - Cash increased by $135 million during Q1 2025, reaching $244.7 million[21][22] - Cash and cash equivalents increased to $244,679,000 as of March 31, 2025, compared to $110,144,000 at the end of 2024[25] - Total debt rose by $82 million to $699.5 million, primarily due to borrowings for mixed-use development projects[21][22] Asset and Liability Overview - Total assets grew to $1,681,439,000 as of March 31, 2025, up from $1,523,846,000 at the end of 2024[25] - Total liabilities increased to $1,183,273,000 as of March 31, 2025, compared to $987,622,000 at the end of 2024[26] Operational Highlights - Mixed-use development generated $13 million of Adjusted OIBDA, up 30% from the previous year[5] - The Braves recorded seven sellout games through the first three homestands of the season[5] - Operating costs increased due to higher major league player salaries and shared expenses, while mixed-use development costs remained relatively flat[9] Cash Flow Analysis - Cash flows from operating activities for Q1 2025 were $95,770,000, compared to $91,064,000 in Q1 2024[28]
Atlanta Braves (BATRA) - 2025 Q1 - Quarterly Results