)
Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
Sphere Entertainment (SPHR) investor relations material
Sphere Entertainment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 revenues rose 15% year-over-year to $262.5 million, driven by strong Sphere segment performance, new experiential offerings, and proprietary technology with over 60 U.S. patents.
The Wizard of Oz at Sphere debuted in August, surpassed 1.2 million tickets sold and $130 million in ticket sales, fueling higher per-show revenue and global interest in the Sphere model.
Multi-year sponsorships with Zoox and Lenovo were announced, with Lenovo set to host a major event at Sphere in January 2026.
Venue expansion is progressing, with Abu Dhabi nearing pre-construction completion and a franchise agreement signed, plus active discussions in multiple markets.
$50 million in Class A common stock was repurchased during the quarter, reflecting confidence in long-term growth, with $300 million remaining under authorization.
Financial highlights
Q3 2025 revenues: $262.5 million, up 15% year-over-year; adjusted operating income: $36.4 million, up $46.6 million year-over-year.
Q3 net loss: $101.2 million, improved from $105.3 million prior year; basic and diluted loss per share: $(2.80), improved from $(2.95).
Sphere segment revenues rose 37% year-over-year to $174.1 million, driven by The Wizard of Oz and concert residencies.
MSG Networks revenues declined 12% to $88.4 million, reflecting a 13.5% drop in subscribers and amended media rights agreements.
Cash and equivalents at quarter-end: $398.3 million; total debt: $874.9 million.
Outlook and guidance
The Wizard of Oz has surpassed 1.2 million tickets sold and $130 million in ticket sales, with demand showing no signs of slowing.
Enhanced versions of The Wizard of Oz and new content like From the Edge are planned, with content longevity expected to mirror long-running Las Vegas shows.
Venue expansion and content monetization across multiple locations are expected to drive future profitability.
Exosphere advertising and sponsorships are seeing double-digit percentage growth, with a strong pipeline for the next year.
Management expressed confidence in long-term growth, citing strong consumer demand and ongoing execution of global vision for Sphere.
Sphere: Key non-cash items impacting GAAP loss?
MSG Networks: Plan to counter subscriber decline?
Given operating loss, why prioritize buybacks?
Monetization strategy for Sphere's AI tech?
Capital strategy for future Sphere venues?
Optimize Sphere's daily content mix?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Sphere Entertainment earnings date
Q4 202513 Feb, 2026
Next Sphere Entertainment earnings date
Q4 202513 Feb, 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
Sphere Entertainment Co. is a live entertainment and media company. The Company includes Sphere, a next-generation entertainment medium. The first Sphere venue is currently under construction in Las Vegas and is expected to open in fall 2023. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a companion streaming service, MSG GO, delivering a wide range of live sports content and other programming. Also under the Sphere Entertainment Co. umbrella is Tao Group Hospitality, a global entertainment dining and nightlife leader featuring brands including Tao, Hakkasan, Omnia, Marquee, Lavo, Beauty & Essex, and Cathédrale. Sphere Entertainment Co. is based in New York, New York.
In April 2023 Sphere Entertainment Co. (NYSE: SPHR) (the “Company” or “Sphere Entertainment”) announced that it has completed the spin-off of its traditional live entertainment businesses and changed its name from Madison Square Garden Entertainment Corp. to Sphere Entertainment Co.
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