$MSGE
Madison Square Garden Entertainment Corp.
CIK:0001952073|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| OPERATING ACTIVITIES: | |||
| Net income | $ 66,186 | $ 37,431 | $ 144,300 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 56,069 | 57,768 | 53,876 |
| Impairment of long-lived assets | 13,782 | 11,202 | 0 |
| Share-based compensation expense, net | 32,439 | 27,694 | 31,168 |
| Amortization of deferred financing costs | 2,022 | 3,342 | 3,351 |
| Deferred income tax expense (benefit) | 138 | 14,840 | (92,197) |
| Loss on extinguishment of debt | 0 | 6,132 | 0 |
| Other non-cash adjustments | (2) | 762 | 2,286 |
| Change in assets and liabilities: | |||
| Accounts receivable, net | (22,077) | 9,589 | (13,940) |
| Related party receivables and payables, net | 34,503 | (23,694) | 47,222 |
| Prepaid expenses and other current and non-current assets | (51,625) | (42,826) | (44,195) |
| Accounts payable | 14,673 | (14,492) | 10,105 |
| Accrued and other current and non-current liabilities | 125,950 | (32,645) | (65,835) |
| Deferred revenue | 54,529 | 20,448 | (10,274) |
| Operating lease right-of-use assets and lease liabilities | 24,848 | 39,746 | 45,399 |
| Net cash provided by operating activities | 351,435 | 115,297 | 111,266 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (28,343) | (22,222) | (24,181) |
| Proceeds from sale of investments | 0 | 55 | 28,465 |
| Loan to related parties | 0 | 0 | (65,000) |
| Other investing activities | (1,443) | (1,526) | (1,655) |
| Net cash used in investing activities | (29,786) | (23,693) | (62,371) |
| FINANCING ACTIVITIES | |||
| Proceeds from issuance of loans | 0 | 609,375 | 0 |
| Proceeds from revolving credit facilities | 35,000 | 55,000 | 73,000 |
| Principal repayments on long-term debt | (65,469) | (680,626) | (106,350) |
| Repurchases of Class A common stock | (25,000) | (39,692) | (50,874) |
| Taxes paid in lieu of shares issued for equity-based compensation | (15,772) | (16,277) | (14,534) |
| Payments for debt financing costs | 0 | (9,348) | (633) |
| Other financing activities | 212 | (53) | (304) |
| Net cash used in financing activities | (71,029) | (81,621) | (99,695) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 250,620 | 9,983 | (50,800) |
| Cash, cash equivalents and restricted cash, beginning of period | 43,538 | 33,555 | 84,355 |
| Cash, cash equivalents and restricted cash, end of period | 294,158 | 43,538 | 33,555 |
| Non-cash investing and financing activities: | |||
| Capital expenditures incurred but not yet paid or paid by landlord | 86 | 23,693 | 34,765 |
| Non-cash financing activities | 0 | (148) | 0 |
| Non-cash stock repurchases in lieu of payment of loan due from related party | $ 0 | $ 0 | $ 65,512 |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2026 |
Jun. 30, 2025 |
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|---|---|---|---|---|---|---|
| Current Assets: | ||||||
| Cash, cash equivalents and restricted cash | $ 294,158 | $ 43,538 | ||||
| Accounts receivable, net | 87,998 | 66,781 | ||||
| Related party receivables, current | 28,132 | 22,487 | ||||
| Prepaid expenses and other current assets | 111,859 | 104,326 | ||||
| Total current assets | 522,147 | 237,132 | ||||
| Non-Current Assets: | ||||||
| Property and equipment, net | 591,696 | 621,075 | ||||
| Right-of-use lease assets | 448,892 | 484,544 | ||||
| Goodwill | 69,041 | 69,041 | ||||
| Indefinite-lived intangible assets | 63,801 | 63,801 | ||||
| Deferred tax assets, net | 53,485 | 54,072 | ||||
| Other non-current assets | 186,188 | 140,177 | ||||
| Total assets | 1,935,250 | 1,669,842 | ||||
| Current Liabilities: | ||||||
| Accounts payable, accrued and other current liabilities | 324,708 | 184,360 | ||||
| Related party payables, current | 63,978 | 23,830 | ||||
| Long-term debt, current | 30,469 | 30,469 | ||||
| Operating lease liabilities, current | 44,461 | 35,100 | ||||
| Deferred revenue | 284,636 | 228,642 | ||||
| Total current liabilities | 748,252 | 502,401 | ||||
| Non-Current Liabilities: | ||||||
| Long-term debt, net of deferred financing costs | 540,334 | 568,780 | ||||
| Operating lease liabilities, non-current | 560,101 | 566,484 | ||||
| Other non-current liabilities | 40,782 | 45,477 | ||||
| Total liabilities | 1,889,469 | 1,683,142 | ||||
| Commitments and contingencies (see Note 10) | ||||||
| Equity (deficit): | ||||||
| Additional paid-in capital | 61,885 | 44,843 | ||||
| Treasury stock at cost (6,106 and 5,483 shares as of June 30, 2026 and June 30, 2025, respectively) | (205,204) | (180,204) | ||||
| Retained earnings | 219,220 | 153,034 | ||||
| Accumulated other comprehensive loss | (30,654) | (31,503) | ||||
| Total equity (deficit) | 45,781 | (13,300) | ||||
| Total liabilities and equity (deficit) | 1,935,250 | 1,669,842 | ||||
| Common Class A | ||||||
| Equity (deficit): | ||||||
| Class A and B Common Stock | [1] | 465 | 461 | |||
| Common Class B | ||||||
| Equity (deficit): | ||||||
| Class A and B Common Stock | [2] | $ 69 | $ 69 | |||
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