Atlanta Braves (BATRK) - 2025 Q1 - Quarterly Results

Revenue Performance - Total revenue for Q1 2025 reached $47.2 million, a 27% increase from $37.1 million in Q1 2024[5] - Baseball revenue increased by 30% to $28.6 million, driven by a rise in broadcasting revenue and events held at Truist Park[7] - Mixed-use development revenue grew 23% to $18.6 million, primarily due to increased rental income and higher 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] - Operating income loss decreased to $(44.5) million, compared to $(52.4) million in Q1 2024, reflecting improved revenue performance[9] - Operating loss for Q1 2025 was $44,452,000, an improvement from a loss of $52,355,000 in Q1 2024[27] - Net loss for Q1 2025 was $41,391,000, compared to a net loss of $51,272,000 in Q1 2024, reflecting a 19.2% reduction in losses[27] Cash and Debt Management - Cash increased by $135 million during Q1 2025, resulting in total cash of $244.7 million[21] - Total debt rose to $699.5 million, up from $617.1 million at the end of 2024, primarily due to borrowings for mixed-use development projects[22] - Cash and cash equivalents increased to $244,679,000 as of March 31, 2025, up from $110,144,000 at the end of 2024[25] - The company reported a net increase in cash, cash equivalents, and restricted cash of $154,392,000 for Q1 2025, compared to $71,300,000 in Q1 2024[28] Asset and Liability Overview - Total assets grew to $1,681,439,000 as of March 31, 2025, compared to $1,523,846,000 at the end of 2024, marking a 10.3% increase[25] - Total liabilities increased to $1,183,273,000 as of March 31, 2025, up from $987,622,000 at the end of 2024[26] Operational Highlights - Mixed-use development generated $13 million of Adjusted OIBDA, a 30% increase from the prior year[5] - Baseball operating costs increased by 8% to $(48.8) million, largely due to higher player salaries and shared expenses[9] - The Braves recorded seven sellout games through the first three homestands of the season, indicating strong fan engagement[5] Cash Flow from Operations - Net cash provided by operating activities was $95,770,000 for Q1 2025, compared to $91,064,000 in Q1 2024[28]