Company Transformation & Financial Restructuring - NCM eliminated $1.1 billion of debt and secured approximately $55 million of new capital through financial restructuring[31, 210] - The company reduced SG&A annual cost savings by 25% through streamlined business units and increased productivity[209] - NCM optimized its leverage ratio to zero funded debt and reduced annual interest expense by $1 million[69, 211] Financial Performance & Outlook - Total revenue for 2024 was $241 million, with Adjusted OIBDA of $46 million and Unlevered FCF of $58 million[66, 67] - The company is targeting a return to a pre-pandemic Adjusted OIBDA to Free Cash Flow conversion rate of +70-80%[231] - NCM plans to utilize $11.5 million of Unlevered Free Cash Flow in 2025 for a dividend of $0.12 per share annually[239] - Q1 2025 revenue guidance is $34.0 million - $36.0 million, with Adjusted OIBDA of $(9.5) million - $(7.5) million[245] Market Position & Growth Strategy - NCM has long-term contracts with the largest U S exhibitors, holding a 26% affiliate exhibitor market share[43, 44] - The company reaches over 400 million audience members, capturing over 70% of the opening weekend box office share[50] - NCM moviegoers spend $45 billion annually on travel[153]

Financial Performance - 1Q'25 revenue reached $34.9 million, falling within the guidance range of $34.0 million to $36.0 million[16, 18] - Total revenue decreased by 7% primarily due to lower attendance[16] - Adjusted OIBDA for 1Q'25 was $(9.0) million, within the guidance range of $(9.5) million to $(7.5) million[16, 18] - Adjusted OIBDA decreased by $3.3 million year-over-year due to lower revenue and slightly higher adjusted operating expenses[16] - Adjusted operating expenses increased by 2%, reaching $43.9 million in 1Q'25 compared to $43.1 million in 1Q'24[16] Strategic Initiatives - NCM entered into a revised agreement with AMC, extending the term by five years through 2042[16] - The revised agreement with AMC includes an improved advertising show structure and modernized lobby advertising[16] - NCM and AMC agreed to terminate the joint venture agreements and dismiss ongoing litigation[16] Capital Allocation - NCM repurchased 2.3 million shares YTD through April 2025 at an average price of $6.06 per share, totaling approximately $14 million[16] - Since the launch of the share repurchase program, NCM has repurchased 4.8 million shares at an average price of $5.60 per share, totaling approximately $27 million[16] - A quarterly dividend of $0.03 per share was announced on May 6, 2025, amounting to $2.8 million[16]