Filing Flows › National CineMedia (NCMI) › Q1 2026 › vs Q1 2026
National CineMedia (NCMI) Q1 2026 vs Q1 2026 (quarter over quarter)
National CineMedia's revenue fell $59.2M (-64%) from $93.2M in Q1 2026 to $34.0M in Q1 2026. The biggest changes: National Advertising Revenue −$48.5M (-64%); Local Advertising Revenue −$9.4M (-68%); Founding Member Advertising Revenue From Beverage Concessionaire Agreements −$1.3M (-38%).
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 2026, the increases inside each band.
Margins
| Q1 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 52.4% | 6.5% | +45.8 pts |
Every line
| Line | Q1 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| National Advertising Revenue | $27.5M | $76.0M | −$48.5M | -64% |
| Local Advertising Revenue | $4.4M | $13.8M | −$9.4M | -68% |
| Founding Member Advertising Revenue From Beverage Concessionaire Agreements | $2.1M | $3.4M | −$1.3M | -38% |
| Revenue | $34.0M | $93.2M | −$59.2M | -64% |
| Net loss | $28.6M | −$29.3M | $57.9M | — |
| Costs & expenses | $62.6M | $98.7M | −$36.1M | -37% |
| Operating costs | $60.9M | $69.4M | −$8.5M | -12% |
| Interest & other, net | $1.7M | −$5.5M | $7.2M | — |
| Cost of revenue | $4.0M | $3.6M | $400K | +11% |
| Sales & marketing | $9.5M | $11.0M | −$1.5M | -14% |
| General & admin | $13.3M | $12.1M | $1.2M | +10% |
| Other operating costs | $34.1M | $42.7M | −$8.6M | -20% |
| Operating cash sources | $46.7M | −$21.0M | $67.7M | — |
| Share-based compensation | $1.7M | $2.0M | −$300K | -15% |
| Working capital & other | $45.0M | −$23.0M | $68.0M | — |
| Net loss absorbed | $28.6M | −$29.3M | $57.9M | — |
| Operating cash flow | $18.1M | $8.3M | $9.8M | +118% |
| Free cash flow (OCF − capex) | $17.8M | $6.1M | $11.7M | +192% |
| Capital expenditures | $300K | $2.2M | −$1.9M | -86% |
Questions
How much did National CineMedia's revenue grow quarter over quarter in Q1 2026?
National CineMedia's revenue fell $59.2M (-64%) from $93.2M in Q1 2026 to $34.0M in Q1 2026.
What drove National CineMedia's revenue change in Q1 2026?
National Advertising Revenue −$48.5M (-64%); Local Advertising Revenue −$9.4M (-68%); Founding Member Advertising Revenue From Beverage Concessionaire Agreements −$1.3M (-38%).