Filing Flows › MSG Knickerbockers (MSGK) › Q4 FY26 › vs Q3 FY26
MSG Knickerbockers (MSGK) Q4 FY26 vs Q3 FY26 (quarter over quarter)
MSG Knickerbockers's revenue fell $153M (-36%) from $432M in Q3 FY26 to $279M in Q4 FY26. The biggest changes: Media rights −$113M (-80%); Sponsorship, signage and suite licenses −$74.0M (-65%); Event-related +$38.0M (+23%). Operating margin 11.5% against 0.5% (+11.1 pts).
MSG Knickerbockers, Q4 FY26: revenue $279M (+37% year over year), operating margin 11.5%, net earnings $28.3M, operating cash flow $57.7M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Operating margin | 11.5% | 0.5% | +11.1 pts |
| Net margin | 10.2% | -4.6% | +14.8 pts |
| Free cash flow margin | 20.7% | 13.3% | +7.4 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Event-related | $201M | $163M | $38.0M | +23% |
| Sponsorship, signage and suite licenses | $39.1M | $113M | −$74.0M | -65% |
| Media rights | $27.7M | $141M | −$113M | -80% |
| League distributions and other | $11.3M | $15.8M | −$4.5M | -29% |
| Revenue | $279M | $432M | −$153M | -36% |
| Other income, net | $1.5M | −$15.3M | $16.8M | — |
| Operating profit | $32.1M | $2.0M | $30.2M | 16× |
| Costs & expenses | $247M | $430M | −$184M | -43% |
| Pre-tax earnings | $33.7M | −$13.3M | $47.0M | — |
| SG&A | $85.4M | $73.7M | $11.7M | +16% |
| Other operating costs | $161M | $357M | −$195M | -55% |
| Net earnings | $28.3M | −$20.0M | $48.3M | — |
| Income tax | $5.4M | $6.7M | −$1.3M | -20% |
| Depreciation & amortization | $788K | $790K | −$2K | -0.3% |
| Share-based compensation | $3.9M | $6.6M | −$2.7M | -41% |
| Working capital & other | $24.7M | $70.1M | −$45.4M | -65% |
| Operating cash flow | $57.7M | $57.5M | $130K | +0.2% |
| Free cash flow (OCF − capex) | $57.6M | $57.4M | $237K | +0.4% |
| Capital expenditures | $36K | $143K | −$107K | -75% |
Questions
How much did MSG Knickerbockers's revenue grow quarter over quarter in Q4 FY26?
MSG Knickerbockers's revenue fell $153M (-36%) from $432M in Q3 FY26 to $279M in Q4 FY26.
What drove MSG Knickerbockers's revenue change in Q4 FY26?
Media rights −$113M (-80%); Sponsorship, signage and suite licenses −$74.0M (-65%); Event-related +$38.0M (+23%).