Filing Flows › National CineMedia (NCMI) › Q1 2026
National CineMedia (NCMI) Q1 2026 earnings results (first quarter 2026)
10-K filed Feb 26, 2026
National CineMedia (NCMI) reported revenue of $93.2M for the first quarter 2026 (Q1 2026), +8% from a year earlier and +47% from the quarter before. Operating margin was 25.5%, net earnings $29.3M (31.4% of revenue).
National CineMedia, Q1 2026: revenue $93.2M (+8% year over year), operating margin 25.5%, net earnings $29.3M, operating cash flow $8.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $93.2M | +47% | +8% |
| Operating profit | $23.8M | — | +20% |
| Net earnings | $29.3M | 18× | +19% |
| Operating cash flow | $8.3M | — | -73% |
| Free cash flow | $6.1M | — | -78% |
What changed
Revenue was $93.2M in Q1 2026, up 8% year over year and up 47% from the previous quarter. National Advertising Revenue was the largest line at 82% of revenue.
Operating profit was $23.8M, a 25.5% margin (up 2.5 points year over year). Of the extra revenue versus Q4 2024, 57% reached operating profit, above the 23% margin then. Total costs grew 5% against revenue growth of 8%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $29.3M, up 19% year over year. The effective tax rate was 0.0%.
Operating cash flow was $8.3M (down 73% year over year), 28% of net earnings. Non-cash charges added back $2.0M of share-based compensation. Working capital and other items used $23.0M. Capital expenditures of $2.2M left free cash flow of $6.1M.
Questions
What was National CineMedia's revenue in the first quarter 2026?
National CineMedia (NCMI) reported revenue of $93.2M for the first quarter 2026 (Q1 2026), +8% from a year earlier and +47% from the quarter before.
Was National CineMedia profitable in the first quarter 2026?
Operating profit was $23.8M (25.5% of revenue) and net earnings $29.3M.
Source: National CineMedia 10-K on SEC EDGAR.