Core Viewpoint - Dolby Laboratories, Inc. will announce its financial results for Q3 fiscal year 2025 on July 31, 2025, after market close [1] Financial Results Announcement - The financial results will be discussed in a conference call led by Dolby management at 2:00 p.m. PT (5:00 p.m. ET) on the same day [1] - Access to the teleconference can be obtained via a dedicated website or by dialing a specific phone number with a confirmation code [2] Replay and Archive Information - A replay of the conference call will be available from 5:00 p.m. PT on July 31, 2025, until 8:59 p.m. PT on August 7, 2025 [3] - An archived version of the teleconference will also be accessible on the Dolby Laboratories investor relations website [3] Company Overview - Dolby Laboratories is recognized as a leader in immersive entertainment, providing experiences across various media including movies, TV, music, sports, and gaming [4] - The company collaborates with artists and brands to enhance entertainment through innovations like Dolby Atmos and Dolby Vision [4]

Core Viewpoint - AMC Entertainment has experienced a record Memorial Day weekend, generating excitement for a strong summer movie season, despite its stock being down approximately 31% over the past year and nearly 90% over the past five years [1][2]. Company Performance - AMC remains the largest movie theater chain in the U.S. and Europe, with around 900 locations and over 10,000 screens globally [3]. - The company has focused on increasing revenue per moviegoer by enhancing premium formats like IMAX and Dolby Cinema, as well as expanding dine-in options and alcohol sales, which have contributed to a 51% increase in incremental profit per moviegoer compared to 2019 [5][10]. - Despite a sharp rebound in ticket sales in April and a strong May, AMC's recent quarterly revenue fell 9% year over year to $862.5 million, marking the weakest first-quarter domestic box office performance since 1996 [6][7]. Financial Position - AMC ended the quarter with over $4 billion in debt and only $378.7 million in cash, alongside free cash flow outflows of $417 million for the quarter [8]. - The company incurred $407 million in interest expenses in 2024, resulting in a negative operating cash flow of $50.8 million for the year [9]. - AMC has raised over $1 billion in equity in 2023 and 2024 to strengthen its finances, although this has diluted shareholders [9]. Industry Outlook - With Hollywood returning to normalcy post-strikes, the film release schedule is expected to improve, potentially driving more consistent attendance throughout the year [11]. - AMC is positioned to benefit from a moviegoing rebound if attendance returns, cash flow improves, and debt reduction progresses [12].

Group 1 - Dolby Laboratories, Inc. will host a fireside chat at the William Blair 45th Annual Growth Stock Conference on June 4, 2025, at 8:00 AM CT [1] - The event will be led by Kevin Yeaman, President and CEO of Dolby Laboratories [1] - A live webcast and replay of the event will be available on Dolby's investor relations website [1] Group 2 - Dolby Laboratories is headquartered in San Francisco and has a global presence [2] - The company focuses on transforming the science of sight and sound into experiences for billions of people worldwide [2] - Dolby partners with various stakeholders, including artists and developers, to enhance entertainment and communications through technologies like Dolby Atmos and Dolby Vision [2]

Financial Data and Key Metrics Changes - The first quarter of 2025 saw a 12.4% decline in the North American box office compared to the previous year, while AMC's domestic admissions revenue declined by only 10.9%, outperforming the market by approximately 150 basis points [12][18] - Consolidated revenue per patron increased by 1.6% year over year and 40% compared to pre-pandemic 2019, driven by a 49% increase in food and beverage revenue per patron and a 26% increase in admissions revenue per patron [13][16] - AMC ended the quarter with cash and cash equivalents of $378.7 million, excluding restricted cash of $49 million, and anticipates being free cash flow positive for the nine months ending December 31, 2025 [18][19] Business Line Data and Key Metrics Changes - U.S. operations achieved an all-time Q1 record for admissions revenue per patron at $12.31, with domestic revenue per patron up more than 45% compared to pre-pandemic 2019 [14][15] - International markets also showed strong growth, with total revenue per patron up 32% and contribution margin per patron up approximately 39% on a constant currency basis compared to pre-pandemic 2019 [16] Market Data and Key Metrics Changes - The first quarter of 2025 was noted as the lowest industry-wide domestic box office since 1996, but there is optimism for a strong recovery in the remainder of 2025 and into 2026 [6][7] - The April 2025 box office was reported to be double that of April 2024, indicating a significant rebound in moviegoing demand [7] Company Strategy and Development Direction - The company is implementing the AMC Go Plan, which focuses on enhancing the guest experience through premium large format screens, innovative food and beverage offerings, and customer loyalty programs [21][22] - Plans include increasing the number of premium large format screens from over 600 to more than 1,000 and expanding Dolby Cinema screens by nearly 25% [23][24] - The company aims to continue optimizing its theater portfolio by closing underperforming locations and investing in high-performing theaters [17] Management's Comments on Operating Environment and Future Outlook - Management believes that the first quarter results do not reflect the current strength of the movie theater business and expects a dramatic reawakening of the industry-wide domestic box office [5][6] - The company anticipates that the full year 2025 box office will be at the high end of the previously forecasted range of $500 million to $1 billion ahead of 2024 [7][9] - There is confidence that the upcoming slate of blockbuster films will drive significant attendance and revenue growth [8][10] Other Important Information - The company has closed 200 theaters and opened 62 since January 2020, resulting in a net reduction of 138 theaters, which has allowed for better management of lease costs and overall quality of earnings [17] - The company has raised approximately $170 million of incremental equity capital at the beginning of the year and has reduced total debt and deferred rent by $1.34 billion since early 2022 [19] Q&A Session Summary Question: What are your thoughts about the current discussions around tariffs in Hollywood? - Management noted that there are no final specific plans regarding tariffs and will closely monitor developments in this area [34] Question: What proportion of AMC locations do you think could include a premium format auditorium? - Management indicated that they plan to have premium large format screens in about three-quarters of their theaters worldwide, with potential for further expansion based on consumer response [36] Question: At what point do you expect the business to generate positive free cash flow? - Management stated that if internal forecasts are met, the company will be free cash flow positive for the nine-month period from April to December 2025 [43] Question: Are there plans to enhance and expand food and beverage offerings? - Management confirmed ongoing innovation in food and beverage, with significant increases in spending per patron and plans for new offerings [44][46] Question: How sustainable is the profitability per patron as the box office recovers? - Management expressed optimism that revenue and contribution per patron could continue to improve even with increased attendance, citing recent performance metrics [52]

Core Viewpoint - Dolby Laboratories, Inc. will announce its financial results for the second quarter of fiscal year 2025 on May 1, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results for Q2 fiscal year 2025 will be released after the close of regular trading on May 1, 2025 [1] - A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the financial results [1] Group 2: Teleconference Access - Access to the teleconference can be obtained via the investor relations website or by dialing the provided phone numbers [2] - A replay of the call will be available from May 1, 2025, at 5:00 p.m. PT until May 8, 2025, at 8:59 p.m. PT [3] Group 3: Company Overview - Dolby Laboratories is based in San Francisco and operates globally, focusing on enhancing entertainment experiences through technology [4] - The company collaborates with various stakeholders in the entertainment and communications sectors to innovate with products like Dolby Atmos and Dolby Vision [4]

Core Insights - Dolby Laboratories, Inc. (DLB) is expanding its collaboration with AMC Entertainment (AMC) by adding 40 more Dolby Cinema locations across the United States by the end of 2027, resulting in a total of over 200 locations, marking a 25% increase [1] - Dolby Cinema offers an immersive movie experience with Dolby Vision's picture quality and Dolby Atmos' sound, reinforcing both companies' commitment to enhancing the existing network [2][3] - The expansion aligns with AMC's strategy to enhance premium offerings, ensuring audiences receive the best visual experience [3] Industry Trends - The industry is shifting towards premium formats, with audiences increasingly preferring higher-quality viewing experiences [4] - In 2024, Dolby Cinema achieved its strongest box office performance, surpassing revenues from 2023, with 49 out of the top 50 films presented in Dolby Cinema over the past five years [4] - The robust content pipeline, with over 725 theatrical features confirmed in Dolby Vision and Dolby Atmos, is a key driver of Dolby Cinema's success [5] Technological Advancements - Advancements in visual and audio technology are expected to enhance the Dolby Cinema experience as the collaboration between Dolby and AMC continues [6] - The adoption of Dolby Atmos in various sectors, including music production, is driving top-line momentum for DLB, with 93% of Billboard's 2024 Top 100 Artists releasing music in Dolby Atmos [7] - In 2024, nearly 80% of the domestic box office and almost 70% of global box office titles were released in Dolby Atmos and Dolby Vision formats [8] Financial Outlook - For fiscal 2025, DLB expects growth of around 15% from Dolby Atmos and Dolby Vision, along with imaging patents [9] - DLB currently holds a Zacks Rank 2 (Buy), with shares having lost 3.7% in the past year compared to a 15.7% decline in the Zacks Audio Video Production industry [10]

Core Insights - AMC and Dolby are expanding their partnership by adding 40 new Dolby Cinema locations in the US by the end of 2027, representing a nearly 25% increase in Dolby Cinema auditoriums, bringing the total to over 200 [2][4] - Dolby Cinema offers a premium moviegoing experience with Dolby Vision ultra-vivid picture quality and Dolby Atmos immersive sound, enhancing the overall cinematic experience for audiences [3][4] - The partnership reflects AMC's commitment to innovative technology and premium experiences, which are increasingly defining the modern box office [4][5] Company Overview - Dolby Laboratories is a leader in immersive entertainment experiences, with a strong content pipeline of over 725 theatrical features released or confirmed in Dolby Vision and Dolby Atmos [6][7] - AMC Entertainment is the largest theatrical exhibitor globally, with approximately 900 theatres and 10,000 screens, and has been a pioneer in the exhibition industry through various innovations [8][9]