National CineMedia reported fiscal third‑quarter 2025 results with net income of $1.6 million, or $0.02 per diluted share, and adjusted operating income before depreciation and amortization of $10.2 million. Revenue for the quarter was $63.4 million, falling short of the consensus estimate of $64.1 million.
The company’s revenue mix showed national advertising revenue at $49.9 million, up 6.6% year‑over‑year, while local and regional advertising revenue declined to $9.6 million from $11.4 million. Programmatic revenue quadrupled compared with the same period last year, marking the strongest programmatic quarter in the company’s history. Self‑serve platform revenue grew 23% quarter‑over‑quarter, and platinum revenue increased 19% year‑over‑year.
Attendance at U.S. theaters dropped to 108.7 million, an 11% decline from the 121.6 million recorded in the comparable quarter of 2024. Despite lower foot traffic, the company achieved its highest third‑quarter national advertising revenue per attendee in five years, according to CEO Tom Lesinski.
For the fourth quarter of 2025, National CineMedia provided guidance of $91.0 million to $98.0 million in revenue and adjusted OIBDA of $30.0 million to $35.0 million. The company also declared a cash dividend of $0.03 per share, payable on November 26, 2025.
Management highlighted that improved inventory utilization and a rebound in advertiser demand drove profitability gains, while the revenue miss was attributed to a decline in local and regional advertising and softer beverage revenue. CFO Ronnie Ng noted the company is reaching new cinema advertisers, and the firm is exploring artificial‑intelligence tools to enhance sales efficiency and lead generation.
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