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Enhanced Group vs MSG Rangers: ENHA and MSGR compared
Enhanced Group is the larger company: $17.7M of revenue in its latest quarter (Q2 2026) against $14.1M for MSG Rangers (Q1 FY27). MSG Rangers is more profitable, with an operating margin of -167.4% against -349.8%.
Where the money goes: ENHA and MSGR
Enhanced Group (ENHA) · Q2 2026
Enhanced Group, Q2 2026: revenue $17.7M, operating margin -349.8%, net loss $61.9M, operating cash flow −$25.0M. The chart follows the revenue to costs, profit and cash.
MSG Rangers (MSGR) · Q1 FY27
MSG Rangers, Q1 FY27: revenue $14.1M (+3% year over year), operating margin -167.4%, net loss $16.9M, operating cash flow −$71.2M. The chart follows the revenue to costs, profit and cash.
| Enhanced Group (ENHA) | MSG Rangers (MSGR) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q1 FY27 |
| Revenue | $17.7M | $14.1M |
| Revenue growth, Y/Y | — | +3% |
| Operating margin | -349.8% | -167.4% |
| Net earnings | −$61.9M | −$16.9M |
| Net margin | -350.0% | -119.9% |
| Operating cash flow | −$25.0M | −$71.2M |
Where the revenue comes from
MSG Rangers
- Event-related: $5.2M (37%)
- Sponsorship, signage and suite licenses: $4.1M (29%)
- League distributions and other: $3.0M (21%)
- Media rights: $1.8M (13%)
Questions
Which is bigger, Enhanced Group or MSG Rangers?
Enhanced Group is the larger company: $17.7M of revenue in its latest quarter (Q2 2026) against $14.1M for MSG Rangers (Q1 FY27).
Is Enhanced Group or MSG Rangers growing faster?
MSG Rangers is more profitable, with an operating margin of -167.4% against -349.8%.
More: Enhanced Group earnings · how Enhanced Group makes money · MSG Rangers earnings · how MSG Rangers makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 14, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.