Lionsgate Studios (LION) Registration Filing summary

Company overview and business model

• Operates as a leading standalone, pure-play, publicly traded content company with motion picture and television production and distribution segments.

• Manages a portfolio of over 20,000 film and television titles, including major franchises and a global talent management business.

• Generates revenue through theatrical releases, home entertainment, television licensing, international sales, and ancillary markets.

• Completed a separation from the Starz Business, resulting in two independent public companies focused on content and premium subscription platforms.

• Strategic focus on disciplined content acquisition, production, and distribution, leveraging co-financing, pre-licensing, and government incentives to manage risk.

Financial performance and metrics

• Fiscal 2025 revenues were $3.2 billion, up 7% from the prior year, with Motion Picture contributing 49.7% and Television Production 50.3%.

• Net loss attributable to shareholders was $128.5 million for fiscal 2025, compared to $93.5 million in fiscal 2024.

• Adjusted OIBDA for fiscal 2025 was $448.1 million, with total segment profit of $444.1 million.

• Cash and cash equivalents as of March 31, 2025, were $205.7 million; total assets were $5.1 billion.

• Significant investments in film and television programs, with $1.99 billion net as of March 31, 2025.

• Corporate debt (excluding film-related obligations) was $1.65 billion, with film-related obligations of $1.98 billion.

Use of proceeds and capital allocation

• Proceeds from the exercise of stock options and SARs are allocated to general corporate purposes.

• Capital allocation strategy emphasizes reinvestment of free cash flow into content growth and maintaining financial flexibility.

• Recent capital structure changes include new revolving credit facilities, IP credit facilities, and repayment of legacy debt.