Filing Flows › National CineMedia (NCMI) › Q2 2025
National CineMedia (NCMI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
National CineMedia (NCMI) reported revenue of $51.8M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +48% from the quarter before. Operating margin was -23.2%, net loss $10.7M (20.7% of revenue).
National CineMedia, Q2 2025: revenue $51.8M (-5% year over year), operating margin -23.2%, net loss $10.7M, operating cash flow −$4.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $51.8M | +48% | -5% |
| Operating profit | −$12.0M | — | — |
| Net earnings | −$10.7M | — | — |
| Operating cash flow | −$4.9M | -182% | — |
What changed
Revenue was $51.8M in Q2 2025, down 5% year over year and up 48% from the previous quarter. National Advertising Revenue was the largest line at 80% of revenue. Local Advertising Revenue lost $3.4M year over year (down 35%), 117% of the total change.
Operating costs exceeded revenue by $12.0M, an operating margin of -23.2%. Total costs fell 0% while revenue fell 5%. The quarter ended with a net loss of $10.7M, narrower than the previous quarter's $30.7M loss.
Operating cash flow was −$4.9M. Non-cash charges added back $2.9M of share-based compensation. Working capital and other items added $2.9M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$6.6M.
Questions
What was National CineMedia's revenue in the second quarter 2025?
National CineMedia (NCMI) reported revenue of $51.8M for the second quarter 2025 (Q2 2025), -5% from a year earlier and +48% from the quarter before.
Was National CineMedia profitable in the second quarter 2025?
Operating loss was $12.0M (-23.2% of revenue) and net loss $10.7M.
Source: National CineMedia 10-Q on SEC EDGAR.