Filing Flows › Lionsgate Studios (LION) › Q2 FY26
Lionsgate Studios (LION) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 7, 2025
Lionsgate Studios (LION) reported revenue of $475M for the second quarter fiscal 2026 (Q2 FY26), -21% from a year earlier and -10% from the quarter before. Operating margin was -9.7%, net loss $113M (23.8% of revenue).
Lionsgate Studios, Q2 FY26: revenue $475M (-21% year over year), operating margin -9.7%, net loss $113M, operating cash flow −$104M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $475M | -10% | -21% |
| Operating profit | −$46.0M | — | — |
| Net earnings | −$113M | — | — |
| Operating cash flow | −$104M | — | — |
What changed
Revenue was $475.1M in Q2 FY26, down 21% year over year and down 10% from the previous quarter.
Operating costs exceeded revenue by $46.0M, an operating margin of -9.7%. Total costs fell 26% while revenue fell 21%. The quarter ended with a net loss of $113.2M, wider than the previous quarter's $106.6M loss. Net interest and other expense of $65.4M was the main reason.
Operating cash flow was −$104.0M. Non-cash charges added back $4.4M of depreciation and amortization and $23.3M of share-based compensation. Working capital and other items used $18.5M. Capital expenditures of $3.2M exceeded it, leaving free cash flow of −$107.2M.
Questions
What was Lionsgate Studios' revenue in the second quarter fiscal 2026?
Lionsgate Studios (LION) reported revenue of $475M for the second quarter fiscal 2026 (Q2 FY26), -21% from a year earlier and -10% from the quarter before.
Was Lionsgate Studios profitable in the second quarter fiscal 2026?
Operating loss was $46.0M (-9.7% of revenue) and net loss $113M.
Source: Lionsgate Studios 10-Q on SEC EDGAR.