National CineMedia, Inc.

Listed Company

NCMICIK 0001377630NasdaqAcceleratedServices-AdvertisingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$243.20M

Net Income

$-10.60M

Total Assets

$490.60M

Equity

$375.40M

Shares Out

93.78M

Op. Cash Flow

$8.40M

NCMI$3.80−21.73% · past yearDBEQ Basic

Daily closing prices

Business

National CineMedia is the largest cinema advertising platform in the U.S., operating a network of more than 17,600 screens across over 1,300 theaters. The company sells national, regional and local advertising placements within preshow programs and the Lobby Entertainment Network. NCM operates under long-term exclusive exhibitor services agreements with major theater chains and network affiliates. The company also offers NCMx, a data platform enabling omnichannel retargeting and programmatic advertising across digital properties and out-of-home venues.

Summary from 10-K filed 2026-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue (including revenue from related parties of $0.1, $0.0 and $14.2, respectively)	243	241	165	249	115
Network operating costs	13	14	11	—	—
Theater exhibition fees (including fees to related parties of $0.0, $0.0 and $16.5, respectively)	119	112	70	—	—
Selling and marketing costs	42	42	30	43	35
Administrative and other costs	46	51	57	44	36
Depreciation expense	5	5	3	7	—
Amortization expense	33	38	22	25	25
Total	257	260	193	242	183
OPERATING LOSS	−14	−20	−27	7	−69
Interest on borrowings	600,000	2	28	80	65
Interest income	−1	−2	−100,000	—	—
(Gain) loss on re-measurement of the payable under the tax receivable agreement	−4	5	9	2	−16
Loss on debt extinguishment	2	0	0	—	1
Gain on deconsolidation of affiliate	0	0	−558	—	—
Gain on reconsolidation of NCM LLC	0	0	−168	0	—
Other non-operating income, net	−600,000	−1	−100,000	−700,000	−100,000
Total	−3	3	−724	73	50
(LOSS) INCOME BEFORE INCOME TAXES	−11	−22	697	−66	−118
Income tax expense	0	200,000	0	0	0
CONSOLIDATED NET (LOSS) INCOME	−11	−22	697	—	—
Less: Net loss attributable to noncontrolling interests	0	0	−9	−38	−70
NET (LOSS) INCOME ATTRIBUTABLE TO NCM, INC.	−11	−22	705	−29	−49
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO NCM, INC.	−11	−22	705	−29	−49
Basic (in usd per share)	−0.11	−0.23	14.73	−3.5	−0.61
Diluted (in usd per share)	−0.11	−0.23	14.34	−3.5	−0.61
Basic (in shares)	94	96	48	8	80
Diluted (in shares)	94	96	49	8	80

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	35	75	35	62	101
Restricted cash	3	3	3	2	0
Receivables, net of allowance of $1.1 and $1.2, respectively	97	85	97	92	53
Amounts due from ESA Parties	0	11	5	—	—
Prepaid expenses and other current assets	4	4	4	8	—
Total current assets	138	178	144	164	158
Property and equipment, net of accum. depreciation of $8.4 and $4.8, respectively	19	16	16	13	21
Intangible assets, net of accum. amortization of $86.2 and $52.8, respectively	309	351	394	351	606
Goodwill	500,000	0	—	—	—
Other investments	8	4	700,000	900,000	—
Debt issuance costs, net	700,000	2	2	3	5
Other assets	15	18	11	24	25
Total non-current assets	353	391	424	628	659
TOTAL ASSETS	491	569	568	792	817
Amounts due to ESA Parties, net	7	4	7	—	—
Payable under the TRA	3	4	0	300,000	0
Accrued expenses	2	2	2	18	13
Accrued payroll and related expenses	12	16	18	8	8
Accounts payable	26	23	22	25	16
Deferred revenue	11	24	10	10	—
Other current liabilities	2	2	1	2	2
Total current liabilities	62	74	58	1,203	70
Long-term debt	12	10	10	0	1,094
Payable under the TRA	31	60	60	35	16
Long-term lease liabilities	9	13	5	18	—
Other liabilities	900,000	2	5	18	20
Total non-current liabilities	53	84	75	53	1,131
Total liabilities	115	157	133	1,256	1,201
COMMITMENTS AND CONTINGENCIES (NOTE 13)	—	—	—	—	—
Preferred stock, $0.01 par value; 10,000,000 shares authorized, 50 issued and outstanding, respectively	0	0	—	0	0
Common stock, $0.01 par value; 260,000,000 shares authorized, 93,353,604 and 95,755,491 issued and outstanding, respectively	3	3	3	1	800,000
Additional paid in capital	137	128	115	−146	−196
Retained earnings	236	281	317	−370	−332
Total NCM, Inc. stockholders' equity	375	411	435	−515	−527
Noncontrolling interests	0	0	0	51	143
Total equity	375	411	435	−464	−384
TOTAL LIABILITIES AND EQUITY	491	569	568	792	817

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Non-cash share-based compensation	9	12	5	7	8
Amortization of debt issuance costs	400,000	800,000	3	9	4
Non-cash (gain) loss on re-measurement of the TRA payable	−4	5	9	2	−16
Non-cash consideration received for advertising services	−2	0	0	—	—
Gain on deconsolidation of affiliate	0	0	−558	—	—
Gain on re-measurement of NCM LLC	0	0	−36	0	—
Other	2	−500,000	−300,000	−400,000	200,000
ESA Party integration and encumbered theater payments	700,000	1	5	—	—
Payments to the ESA Parties under the tax receivable agreement	−1	0	0	—	—
Proceeds received from equity method investment	600,000	0	0	—	—
Other cash flows from operating activities, net	−300,000	0	−800,000	−100,000	—
Receivables, net	−9	11	36	−40	−37
Accounts payable and accrued expenses	−3	−100,000	−3	14	2
Amounts due to ESA Parties, net	3	3	−4	1	—
Deferred revenue	−15	13	−5	−5	8
Prepaid expenses	500,000	−5	−11	0	—
Other, net	−600,000	600,000	−2	2	—
Net cash provided by (used in) operating activities	8	60	−7	—	—
Purchases of property and equipment	−6	−6	−3	−3	−6
Purchase of strategic investments	−2	−1	0	—	—
Purchase of a business	−8	0	0	—	—
Cash contributed upon reconsolidation	0	0	−16	0	—
Cash, cash equivalents and restricted cash reconsolidated	0	0	50	0	—
Proceeds received from equity method investment	0	1	600,000	0	—
Other cash flows from investing activities, net	−300,000	−100,000	1	—	—
Net cash (used in) provided by investing activities	−15	−6	33	—	—
Payment of dividends	−11	−300,000	−500,000	−10	−17
Purchases of NCM, Inc.'s common stock	−22	−13	0	—	—
Repayments of term loan facilities	−20	0	−800,000	3	0
Proceeds from term loan facilities	22	0	0	—	—
Removal of cash, cash equivalents and restricted cash of unconsolidated affiliate	0	0	−50	0	—
Payment of debt issuance costs	−2	0	−1	−7	−7
Other cash flows from financing activities	−600,000	−700,000	—	—	—
Net cash used in financing activities	−34	−14	−52	—	—
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	−41	41	−26	−37	−79
Purchase of an intangible asset with NCM LLC equity	0	700,000	0	10	14
Purchase of subsidiary equity with NCM, Inc. equity	0	0	3	12	—
Accrued purchases of property and equipment	0	100,000	800,000	800,000	0
Right of use assets obtained in exchange for lease liabilities	0	9	0	—	—
Cost method investment obtained in exchange for advertising inventory	2	2	0	12	0
Increase in dividend equivalent accrual not requiring cash in the period	200,000	0	0	—	—
Cash paid for interest	200,000	900,000	13	—	—
Cash payments for income taxes	0	100,000	0	100,000	−100,000

Filings

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Frequently asked questions

What is National CineMedia, Inc.'s CIK number?

National CineMedia, Inc.'s SEC CIK number is 0001377630 (1377630). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find National CineMedia, Inc.'s SEC filings?

All of National CineMedia, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did National CineMedia, Inc. last report earnings?

National CineMedia, Inc. (NCMI) most recently filed an earnings 8-K with the SEC on May 12, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-219406). This is National CineMedia, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is National CineMedia, Inc.'s most recent earnings 8-K?

National CineMedia, Inc.'s latest earnings 8-K (Item 2.02) was filed May 12, 2026 under accession 0001193125-26-219406. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View National CineMedia, Inc.'s latest earnings 8-K →
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