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MSG Rangers (MSGR) earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Nov 6, 2026 · MSG Rangers (MSGR) Q1 FY27 earnings results →
Q1 FY27 Revenue up 3% year over year to $14.1M · 120¢ of every $1 of revenue lost · operating margin -167.4%
MSG Rangers made $14.1M in Q1 FY27 (+3% Y/Y): Event-related $5.2M, Sponsorship, signage and suite licenses $4.1M, League distributions and other $3.0M. Operating margin -167.4%, net loss $16.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $14.1M in Q1 FY27, up 3% year over year. Event-related was the largest line at 37% of revenue. Sponsorship, signage and suite licenses added $430K year over year (up 12%), 99% of the total change. Event-related declined 11%.
Operating costs exceeded revenue by $23.6M, an operating margin of -167.4%. Total costs grew 42% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+128%). The quarter ended with a net loss of $16.9M.
Operating cash flow was −$71.2M. Non-cash charges added back $576K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $56.4M. Capital expenditures of $194K exceeded it, leaving free cash flow of −$71.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Nov 6, 2026 | $14.1M | +3% | -167.4% | −$16.9M | −$71.2M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About MSG Rangers
MSG Rangers Corp. (MSG Rangers) is a leading professional sports company, with a collection of assets that includes the New York Rangers (NHL) and a development league team, the Hartford Wolf Pack (AHL). MSG Rangers also operates a professional sports team performance center, the MSG Training Center in Greenburgh, NY. More information is available at msgrangers.com.
In its own words, from its 8-K, filed Nov 6, 2026.
MSG Rangers against its Services-Miscellaneous Amusement & Recreation peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +7%. Operating margin: -167.4% against the peers' median 4.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MSGR MSG Rangers | Q1 FY27 | $14.1M | +3% | -167.4% |
| DIS Walt Disney | Q3 FY26 | $25.2B | +7% | 22.0% |
| DKNG DraftKings | Q3 2026 | $1.3B | +16% | -37.1% |
| STUB StubHub Holdings | Q2 2026 | $573M | +33% | 3.4% |
| PRKS United Parks & Resorts | Q3 2026 | $506M | -1% | 27.8% |
| RSI Rush Street Interactive | Q3 2026 | $386M | +39% | 11.1% |
| MTN Vail Resorts | Q4 FY26 | $278M | +2% | -75.1% |
| PRSU Pursuit Attractions & Hospitality | Q3 2026 | $252M | +4% | 45.0% |
| MSGE Madison Square Garden Entertainment | Q1 FY27 | $217M | +37% | 4.5% |
Source: MSG Rangers 10-Q on SEC EDGAR · CIK 2132873 · Services-Miscellaneous Amusement & Recreation
Guidance and outlook
More on MSGR
History
Every quarter: Q1 FY27 results