Filing Flows › National CineMedia (NCMI) › Q1 2026 › vs Q1 2025
National CineMedia (NCMI) Q1 2026 vs Q1 2025 (year over year)
National CineMedia's revenue fell $900K (-3%) from $34.9M in Q1 2025 to $34.0M in Q1 2026. The biggest changes: Local Advertising Revenue −$500K (-10%); Founding Member Advertising Revenue From Beverage Concessionaire Agreements −$500K (-19%); National Advertising Revenue +$100K (+0.4%).
National CineMedia, Q1 2026: revenue $34.0M (-3% year over year), operating margin -79.1%, net loss $28.6M, operating cash flow $18.1M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 52.4% | 15.2% | +37.2 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| National Advertising Revenue | $27.5M | $27.4M | $100K | +0.4% |
| Local Advertising Revenue | $4.4M | $4.9M | −$500K | -10% |
| Founding Member Advertising Revenue From Beverage Concessionaire Agreements | $2.1M | $2.6M | −$500K | -19% |
| Revenue | $34.0M | $34.9M | −$900K | -3% |
| Net loss | $28.6M | $30.7M | −$2.1M | -7% |
| Costs & expenses | $62.6M | $65.6M | −$3.0M | -5% |
| Operating costs | $60.9M | $58.8M | $2.1M | +4% |
| Interest & other, net | $1.7M | $6.8M | −$5.1M | -75% |
| Cost of revenue | $4.0M | $3.1M | $900K | +29% |
| Sales & marketing | $9.5M | $10.7M | −$1.2M | -11% |
| General & admin | $13.3M | $12.9M | $400K | +3% |
| Other operating costs | $34.1M | $32.1M | $2.0M | +6% |
| Operating cash sources | $46.7M | $36.7M | $10.0M | +27% |
| Share-based compensation | $1.7M | $2.7M | −$1.0M | -37% |
| Working capital & other | $45.0M | $34.0M | $11.0M | +32% |
| Net loss absorbed | $28.6M | $30.7M | −$2.1M | -7% |
| Operating cash flow | $18.1M | $6.0M | $12.1M | +202% |
| Free cash flow (OCF − capex) | $17.8M | $5.3M | $12.5M | +236% |
| Capital expenditures | $300K | $700K | −$400K | -57% |
Questions
How much did National CineMedia's revenue grow year over year in Q1 2026?
National CineMedia's revenue fell $900K (-3%) from $34.9M in Q1 2025 to $34.0M in Q1 2026.
What drove National CineMedia's revenue change in Q1 2026?
Local Advertising Revenue −$500K (-10%); Founding Member Advertising Revenue From Beverage Concessionaire Agreements −$500K (-19%); National Advertising Revenue +$100K (+0.4%).