Filing Flows › Sphere Entertainment (SPHR) › Q1 2026
Sphere Entertainment (SPHR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Sphere Entertainment (SPHR) reported revenue of $386M for the first quarter 2026 (Q1 2026), +38% from a year earlier and -2% from the quarter before. Operating margin was 1.9%, net earnings $4.5M (1.2% of revenue).
Sphere Entertainment, Q1 2026: revenue $386M (+38% year over year), operating margin 1.9%, net earnings $4.5M, operating cash flow $136M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $386M | -2% | +38% |
| Operating profit | $7.2M | -75% | — |
| Net earnings | $4.5M | -93% | — |
| Operating cash flow | $136M | -24% | 21× |
| Free cash flow | $135M | — | 29× |
What changed
Revenue was $386.4M in Q1 2026, up 38% year over year and down 2% from the previous quarter. Ticketing and venue license fee revenues was the largest line at 51% of revenue. Ticketing and venue license fee revenues added $91.0M year over year (up 85%), 86% of the total change. Media networks revenues declined 2%.
Operating profit was $7.2M, a 1.9% margin (up 29.9 points year over year). Total costs grew 6% against revenue growth of 38%. Net earnings were $4.5M.
Operating cash flow was $136.2M (up 2046% year over year), 3055% of net earnings. Non-cash charges added back $84.4M of depreciation and amortization and $13.9M of share-based compensation. Working capital and other items added $33.5M. Capital expenditures of $1.2M left free cash flow of $135.0M.
Questions
What was Sphere Entertainment's revenue in the first quarter 2026?
Sphere Entertainment (SPHR) reported revenue of $386M for the first quarter 2026 (Q1 2026), +38% from a year earlier and -2% from the quarter before.
Was Sphere Entertainment profitable in the first quarter 2026?
Operating profit was $7.2M (1.9% of revenue) and net earnings $4.5M.