Filing Flows › Sphere Entertainment (SPHR) › Q1 2025
Sphere Entertainment (SPHR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Sphere Entertainment (SPHR) reported revenue of $281M for the first quarter 2025 (Q1 2025), -13% from a year earlier and -9% from the quarter before. Operating margin was -28.0%, net loss $82.0M (29.2% of revenue).
Sphere Entertainment, Q1 2025: revenue $281M (-13% year over year), operating margin -28.0%, net loss $82.0M, operating cash flow $6.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $281M | -9% | -13% |
| Operating profit | −$78.6M | — | — |
| Net earnings | −$82.0M | — | — |
| Operating cash flow | $6.3M | -6% | -94% |
| Free cash flow | $4.7M | — | -95% |
What changed
Revenue was $280.6M in Q1 2025, down 13% year over year and down 9% from the previous quarter. Media networks revenues was the largest line at 44% of revenue. Media networks revenues lost $27.9M year over year (down 19%), 69% of the total change.
Operating costs exceeded revenue by $78.6M, an operating margin of -28.0%. Total costs fell 1% while revenue fell 13%. The quarter ended with a net loss of $82.0M, narrower than the previous quarter's $126.0M loss.
Operating cash flow was $6.3M (down 94% year over year). Non-cash charges added back $84.2M of depreciation and amortization and $21.6M of share-based compensation. Working capital and other items used $17.5M. Capital expenditures of $1.7M left free cash flow of $4.7M.
Questions
What was Sphere Entertainment's revenue in the first quarter 2025?
Sphere Entertainment (SPHR) reported revenue of $281M for the first quarter 2025 (Q1 2025), -13% from a year earlier and -9% from the quarter before.
Was Sphere Entertainment profitable in the first quarter 2025?
Operating loss was $78.6M (-28.0% of revenue) and net loss $82.0M.