$NCMI

National CineMedia, Inc.

CIK:0001377630|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 02, 2026	Jun. 26, 2025	Jul. 02, 2026	Jun. 26, 2025
REVENUE (including revenue from related parties of $0.0, $0.0, $0.4 and $0.0, respectively)	$ 58.4	$ 51.8	$ 92.4	$ 86.6
OPERATING EXPENSES:
Network operating costs	3.7	3.2	7.7	6.2
Theater exhibition fees	37.6	30.9	62.1	52.6
Selling and marketing costs	9.6	9.8	19.2	20.4
Administrative and other costs	10.8	10.6	24.1	23.5
Depreciation expense	1.5	1.1	3.0	2.2
Amortization expense	8.0	8.2	16.0	17.6
Total	71.2	63.8	132.1	122.5
OPERATING LOSS	(12.8)	(12.0)	(39.7)	(35.9)
NON-OPERATING EXPENSE (INCOME):
Interest on borrowings	0.2	0.1	0.5	0.3
Interest income	(0.3)	(0.4)	(0.6)	(0.9)
(Gain) loss on re-measurement of the payable under the tax receivable agreement	(2.3)	(0.8)	(0.3)	4.6
Loss on extinguishment of debt	0.0	0.0	0.0	1.8
Other non-operating income, net	(0.5)	(0.2)	(0.7)	(0.3)
Total	(2.9)	(1.3)	(1.1)	5.5
LOSS BEFORE INCOME TAXES	(9.9)	(10.7)	(38.6)	(41.4)
Income tax expense	0.0	0.0	0.0	0.0
CONSOLIDATED NET LOSS	(9.9)	(10.7)	(38.6)	(41.4)
Less: Net loss attributable to noncontrolling interests	0.0	0.0	0.0	0.0
NET LOSS ATTRIBUTABLE TO NCM, INC.	(9.9)	(10.7)	(38.6)	(41.4)
COMPREHENSIVE LOSS ATTRIBUTABLE TO NCM, INC.	$ (9.9)	$ (10.7)	$ (38.6)	$ (41.4)
NET LOSS PER NCM, INC. COMMON SHARE:
Basic (in usd per share)	$ (0.11)	$ (0.11)	$ (0.41)	$ (0.44)
Diluted (in usd per share)	$ (0.11)	$ (0.11)	$ (0.41)	$ (0.44)
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic (in shares)	93,696,124	93,978,031	93,452,698	94,681,546
Diluted (in shares)	93,696,124	93,978,031	93,452,698	94,681,546

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jul. 02, 2026	Jun. 26, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss	$ (38.6)	$ (41.4)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:
Depreciation expense	3.0	2.2
Amortization expense	16.0	17.6
Non-cash share-based compensation	4.0	5.6
Loss on extinguishment of debt	0.0	1.8
Non-cash (gain) loss on re-measurement of the payable under the tax receivable agreement	(0.3)	4.6
Non-cash consideration received for advertising services	(1.2)	0.0
Other	(0.2)	0.1
ESA integration and other encumbered theater payments	0.0	0.6
Payments to the ESA Parties under the tax receivable agreement	(1.0)	(1.3)
Other cash flows from operating activities	(0.1)	0.1
Changes in operating assets and liabilities:
Receivables, net	34.2	28.1
Accounts payable and accrued expenses	(5.6)	(12.2)
ESA amounts due to/from, net	(1.5)	0.3
Prepaid expenses	1.0	0.5
Deferred revenue	6.7	(5.5)
Other, net	0.2	0.0
Net cash provided by operating activities	16.6	1.1
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(1.0)	(2.4)
Purchase of intangible asset	(0.4)	0.0
Proceeds received from equity method investment	0.3	0.0
Net cash used in investing activities	(1.1)	(2.4)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends	(5.7)	(5.7)
Purchases of NCM, Inc.'s common stock	(1.2)	(18.7)
Repayment of revolving credit facility	0.0	(10.0)
Payment of debt issuance costs	0.0	(1.5)
Repurchase of stock for restricted stock tax withholding	(0.1)	(0.6)
Net cash used in financing activities	(7.0)	(36.5)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	8.5	(37.8)
Cash, cash equivalents and restricted cash at beginning of period	37.6	78.1
Cash, cash equivalents and restricted cash at end of period	46.1	40.3
Supplemental disclosure of non-cash financing and investing activity:
Accrued purchases of intangible assets	0.0	0.4
Increase in dividend equivalent accrual not requiring cash in the period	0.1	0.2
Cost method investment obtained in exchange for advertising inventory	0.9	0.5
Supplemental disclosure of cash flow information:
Cash paid for interest	0.4	0.1
Cash paid for income taxes	$ 0.0	$ 0.0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 02, 2026	Jan. 01, 2026
CURRENT ASSETS:
Cash and cash equivalents	$ 43.1	$ 34.6
Restricted cash	3.0	3.0
Receivables, net of allowance of $1.2 and $1.1, respectively	62.0	96.5
Prepaid expenses and other current assets	3.5	4.0
Total current assets	111.6	138.1
NON-CURRENT ASSETS:
Property and equipment, net of accumulated depreciation of $11.3 and $8.4, respectively	17.5	19.4
Intangible assets, net of accumulated amortization of $102.1 and $86.1, respectively	292.8	308.8
Goodwill	0.6	0.5
Other investments	9.5	8.1
Debt issuance costs, net	0.5	0.7
Other assets	13.8	15.0
Total non-current assets	334.7	352.5
TOTAL ASSETS	446.3	490.6
CURRENT LIABILITIES:
Amounts due to ESA Parties, net	5.3	6.8
Payable under the TRA	2.3	2.9
Accrued expenses	2.0	1.9
Accrued payroll and related expenses	6.5	12.1
Accounts payable	25.8	26.1
Deferred revenue	17.3	10.8
Other current liabilities	1.5	1.5
Total current liabilities	60.7	62.1
NON-CURRENT LIABILITIES:
Long-term debt	12.0	12.0
Payable under the TRA	30.1	30.9
Long-term lease liabilities	8.4	9.3
Other long-term liabilities	0.8	0.9
Total non-current liabilities	51.3	53.1
Total liabilities	112.0	115.2
COMMITMENTS AND CONTINGENCIES (NOTE 9)
NCM, Inc. Stockholders' Equity:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, 50 issued and outstanding	0.0	0.0
Common stock, $0.01 par value; 260,000,000 shares authorized, 93,995,883 and 93,353,604 issued and outstanding, respectively	2.5	2.5
Additional paid in capital	140.5	136.5
Retained earnings	191.3	236.4
Total NCM, Inc. stockholders’ equity	334.3	375.4
Noncontrolling interests	0.0	0.0
Total equity	334.3	375.4
TOTAL LIABILITIES AND EQUITY	$ 446.3	$ 490.6