)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
National CineMedia (NCMI) investor relations material
National CineMedia Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Q3 2025 revenue rose to $63.4 million, up 1.6% year-over-year, with Adjusted EBITDA/OIBDA of $10.2 million, and net income of $1.6 million, despite an 11% decline in attendance.
National advertising revenue per attendee reached its highest in five years, reflecting strong sales and inventory utilization.
Programmatic and self-serve advertising channels saw significant growth, with programmatic revenue up fourfold year-over-year and self-serve revenue up 23% quarter-over-quarter.
Operating expenses decreased year-over-year, reflecting lower administrative, legal, and amortization costs.
The company executed a new long-term exhibitor agreement with AMC, extending exclusivity and modernizing show structure.
Financial highlights
Q3 2025 revenue was $63.4 million (up 1.6% YoY), with Adjusted EBITDA/OIBDA of $10.2 million and net income of $1.6 million.
National advertising revenue rose 6.6% to $49.9 million, while local and regional advertising revenue declined to $9.6 million from $11.4 million.
Adjusted OIBDA margin for Q3 was 16.1%, up from 14.1% last year.
Operating loss for Q3 improved to $1.8 million from $7.5 million loss in Q3 2024.
Year-to-date revenue was $150 million, down from $154.5 million in the prior year.
Outlook and guidance
Q4 2025 revenue guidance is $91–$98 million, with Adjusted EBITDA/OIBDA expected between $30–$35 million.
Anticipates strong attendance and advertiser demand driven by a robust holiday film slate, including major releases.
Fiscal Q4 includes an extra week, expected to boost attendance but lower revenue per attendee.
Management expects continued benefits from the AMC agreement, including reduced amortization expense and enhanced exclusivity.
The company anticipates sufficient liquidity to fund operations, dividends, and share repurchases for the foreseeable future.
How sustainable is ad revenue per attendee growth?
Detail factors for Q4 Adjusted OIBDA surge
Progress on operating efficiency initiatives?
Programmatic client acquisition strategy
Impact of extra week on Q4 profitability
Advertiser strategy for new IP films?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next National CineMedia earnings date
Q4 20256 Mar, 2026
Next National CineMedia earnings date
Q4 20256 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
National CineMedia Inc offers digital in-theater advertising and entertainment content, concessions promotions, and other programming to its theater partners; and advertising representation services to advertisers, advertising agencies, and advertising networks. It operates through three segments: Network, Cinema Media, and Film Advertising. The Network segment provides exhibitors with network software platform used to schedule and playback advertisements and entertainment on the cinema screens into a network of theaters; conducts meetings or events in theaters for third party clients; licenses the CinemaSync platform to exhibitors that enables exhibitors to synchronize advertisements and related information on tablets; sells advertising inventory; offers Software as a Service-based suite of applications to enable its theater partners to manage their businesses. The Cinema Media segment sells theatre circuits for placement of their pre-show content on individual theater screens. The Film Advertising segment offers integrated marketing services in connection with the distribution of feature films from studios to theaters.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage