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Reading International (RDI) investor relations material
Reading International Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary18 Nov, 2025
Executive summary
Q3 2025 revenue declined 13% year-over-year to $52.2 million, mainly due to a weaker film slate, lower cinema attendance, and FX headwinds.
Net loss improved 41% to $4.2 million, the best Q3 result since 2019, and EBITDA rose 26% to $3.6 million, marking five consecutive quarters of positive EBITDA.
For the first nine months of 2025, revenue rose 1% to $152.7 million, and net loss improved 65% to $11.6 million, aided by gains on property sales.
Debt was reduced by nearly 15% to $172.6 million as of September 30, 2025, primarily from proceeds of major real estate asset sales in Australia and New Zealand.
The company remains committed to its two-business, three-country strategy, focusing on core assets and cost control.
Financial highlights
Q3 2025 consolidated revenue was $52.2 million (down 13% YoY); nine months: $152.7 million (up 1% YoY).
Net loss for Q3 2025 was $4.2 million, improved from $7 million in Q3 2024; nine months net loss: $11.6 million, both significantly improved YoY.
Basic loss per share improved to $0.18 for Q3 and $0.51 for nine months.
Adjusted EBITDA for Q3 2025 increased to $3.6 million from $2.8 million in Q3 2024.
Cash and cash equivalents as of September 30, 2025, were $8.1 million; total borrowings: $172.6 million, down from $202.7 million at year-end 2024.
Outlook and guidance
Management expects a strong rebound in Q4 2025 and a robust 2026, citing strong pre-sales for major releases and a solid film slate.
Plans to refinance key debt in 2026, supported by improving real estate and financing markets.
Capital spending remains limited, prioritizing cinema upgrades over new real estate development.
Future debt reduction strategy
How Q4 slate prevents future cinema declines?
Strategy for remaining real estate assets
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Next Reading International earnings date
Q4 202530 Mar, 2026
Next Reading International earnings date
Q4 202530 Mar, 2026
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Frequently asked questions
Reading International Inc., known as RDI, is an entertainment and real estate company that specializes in the development, ownership, and operation of multiplex cinemas, as well as retail and commercial real estate. The company operates in three key regions: the United States, Australia, and New Zealand, managing a diverse portfolio that includes cinema exhibition businesses under brands such as Reading Cinemas, Angelika Film Center, Consolidated Theatres, State Cinema, Event Cinemas, and Rialto Cinemas. In addition to its cinema operations, Reading International's Real Estate segment focuses on developing, renting, or licensing retail, commercial, and live theater assets. The company is headquartered in New York, New York, and its shares are listed on the Nasdaq.
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