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Mar 31, 2022
National CineMedia Q1 2022 Earnings Report
Reported strong revenue growth driven by increased advertising demand following box office success and upfront presentations.
Key Takeaways
National CineMedia reported a significant increase in revenue for Q1 2022, exceeding management's guidance. The company's operating loss improved, and they are encouraged by the increase in advertising demand.
Total revenue increased by 564.8% to $35.9 million compared to the same quarter last year.
Operating loss improved to $22.5 million from $28.3 million year-over-year.
Net loss was $25.2 million, or $0.31 per diluted share, compared to a net loss of $19.4 million, or $0.25 per diluted share, in the prior year.
Cash, cash equivalents and investments totaled $115.1 million as of March 31, 2022.
National CineMedia
National CineMedia
National CineMedia Revenue by Segment
Revenue by Segment
National Advertising Revenue
CapyFin.comLocal and Regional Advertising Revenue
CapyFin.com Forward Guidance
The company expects to earn revenue of $63.0 to $70.0 million and Adjusted OIBDA of $12.5 million to $18.5 million for the second quarter of 2022.
Positive Outlook
- Company expects revenue of $63.0 to $70.0 million for the second quarter of 2022.
- Company expects Adjusted OIBDA of $12.5 million to $18.5 million for the second quarter of 2022.
- The movie slate for the remainder of 2022 looks strong due to the addition of major motion pictures that had been delayed in 2020 and 2021
- Reestablishment of exclusive release windows by most studios.
- NCMx, a state-of-the-art data management and analytics platform, was launched.
Challenges Ahead
- Continued uncertainties related to the COVID-19 pandemic over the near term.
- Impact of changes in consumer behavior on attendance following the reopening of the theaters.
- Network attendance remained below historical first quarter levels due primarily to an approximate 57% decrease in the number of films released versus the first quarter of 2019.
- Fewer films and lower overall industry attendance resulted in lower in-theater advertising revenue.
- Less severe variants of the COVID-19 virus continue to circulate throughout the United States and may lead to increased health and safety regulations and restrictions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income