•
Mar 31
Seaport Entertainment Group In Q1 2025 Earnings Report
Seaport Entertainment Group narrowed its net loss in Q1 2025 while growing total revenue by over 10% year-over-year.
Key Takeaways
Seaport Entertainment Group posted $16.1 million in revenue for Q1 2025, up 10.7% YoY, and reduced its net loss by nearly $12.2 million as it began internalizing key operations and welcomed new entertainment partners.
Revenue grew to $16.1 million, a 10.7% increase year-over-year.
Net loss attributable to common stockholders was $31.9 million, improved from $44.1 million last year.
Hospitality revenue rose sharply to $7.7 million, nearly doubling from Q1 2024.
Cash and cash equivalents stood at $129.9 million, with no significant debt maturities until 2029.
Seaport Entertainment Group In
Seaport Entertainment Group In
Seaport Entertainment Group In Revenue by Segment
Forward Guidance
SEG aims to leverage operational momentum and strategic partnerships to drive long-term profitability and reduce cash burn, supported by a strong balance sheet.
Positive Outlook
- Successful internalization of food and beverage operations via CCMC.
- Launch of 2025 concert season with strong ticket sales.
- Meow Wolf lease expected to enhance visitor engagement.
- Plans for 17,500 sq. ft. of new event space underway.
- Hosting NYC Wine & Food Festival in October 2025 with Jean-Georges.
Challenges Ahead
- Net loss remains substantial despite year-over-year improvement.
- Rental revenue declined compared to Q1 2024.
- High hospitality operating costs outpaced segment revenue.
- Limited detail on future financial targets or profitability timeline.
- Continued reliance on event-driven seasonal revenue streams.