Sphere Entertainment Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Sphere Entertainment Co. reported revenue of $1.2B (+18.8% year on year) and net income of $33.4M (+116.6% year on year).
| Line item | Dec 31, 2025 · FY | Jun 30, 2024 · FY | Jun 30, 2023 · FY | Jun 30, 2022 · FY |
|---|---|---|---|---|
| Revenues | $1.2B | $1.0B | $573.8M | $1.7B |
| Direct operating expenses | ($590.0M) | $182.1M | ($206.8M) | $1.0B |
| Selling, general and administrative expenses | ($441.9M) | ($127.5M) | ($31.3M) | $681.8M |
| Depreciation and amortization | ($336.4M) | ($256.5M) | ($103.4M) | $124.6M |
| Impairment and other (losses) gains, net | ($69.8M) | ($121.5M) | $6.1M | — |
| Restructuring charges | ($11.5M) | ($9.5M) | ($27.9M) | $14.7M |
| Operating (loss) income | ($229.6M) | ($309.5M) | $175.5M | ($102.7M) |
| Gain on extinguishment of debt | $346.1M | — | — | ($35.8M) |
| Interest income | $13.5M | $25.7M | $11.6M | $4.2M |
| Interest expense | ($70.5M) | ($79.9M) | $0 | ($27.2M) |
| Other (expense) income, net | ($2.3M) | $35.2M | $536.9M | ($49.4M) |
| Income (loss) from continuing operations before income taxes | $57.2M | ($360.2M) | $275.4M | ($215.9M) |
| Income tax (expense) benefit | ($23.8M) | $135.6M | ($103.4M) | $25.8M |
| Income (loss) from continuing operations | $33.4M | — | $172.0M | — |
| Income from discontinued operations, net of taxes | $0 | $24.0M | $333.7M | — |
| Net income (loss) | $33.4M | ($200.6M) | $505.7M | ($190.1M) |
| Less: Net income attributable to redeemable noncontrolling interests from discontinued operations | $0 | $0 | $3.9M | $7.7M |
| Less: Net loss attributable to nonredeemable noncontrolling interests from discontinued operations | $0 | $0 | ($1.0M) | ($3.5M) |
| Net income (loss) attributable to Sphere Entertainment Co.’s stockholders | $33.4M | ($200.6M) | $502.8M | ($194.4M) |
| Continuing operations (in dollars per share) | $0.93 | -$6.36 | $4.96 | — |
| Basic earnings (loss) per common share attributable to Sphere Entertainment Co.’s stockholders (in dollars per share) | $0.93 | -$5.68 | $14.51 | -$5.77 |
| Continuing operations (in dollars per share) | $0.74 | -$6.36 | $4.93 | — |
| Discontinued operations (in dollars per share) | $0.00 | $0.68 | $9.55 | — |
| Diluted earnings (loss) per common share attributable to Sphere Entertainment Co.’s stockholders (in dollars per share) | $0.74 | -$5.68 | $14.40 | -$5.77 |
| Basic (in shares) | 36.1M | 35.3M | 34.7M | 34.3M |
| Diluted (in shares) | 45.3M | 35.3M | 34.9M | 34.3M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $313.6M | $386.4M | $262.5M | $282.7M |
| Direct operating expenses | $151.1M | $169.6M | ($137.0M) | ($131.3M) |
| Selling, general and administrative expenses | $139.2M | $121.7M | ($99.7M) | ($113.0M) |
| Depreciation and amortization | $84.3M | $84.4M | ($84.1M) | ($83.9M) |
| Impairments and other losses, net | $0 | $79.0K | ($65.5M) | ($3.6M) |
| Restructuring charges | $323.0K | $3.4M | ($6.0M) | ($947.0K) |
| Operating loss | ($61.3M) | $7.2M | ($129.7M) | ($50.2M) |
| Gain (loss) on extinguishment of debt | $0 | ($2.1M) | $0 | $346.1M |
| Interest income | $4.8M | $4.0M | $2.7M | $4.1M |
| Interest expense | ($8.3M) | ($8.0M) | ($9.4M) | ($25.9M) |
| Other expense, net | ($504.0K) | ($1.4M) | ($328.0K) | ($400.0K) |
| (Loss) income from continuing operations before income taxes | ($65.3M) | ($381.0K) | ($136.7M) | $273.8M |
| Income tax benefit (expense) | $26.9M | $4.8M | $35.5M | ($121.9M) |
| Net (loss) income | ($38.3M) | $4.5M | ($101.2M) | $151.8M |
| Less: Net income attributable to participating securities | $461.0K | $6.1M | — | — |
| Net (loss) income attributable to Sphere Entertainment Co.’s stockholders | ($38.8M) | ($1.6M) | — | — |
| Basic (loss) income per common share attributable to Sphere Entertainment Co.’s stockholders (in dollars per share) | -$1.07 | -$0.04 | -$2.80 | $4.18 |
| Diluted (loss) income per common share attributable to Sphere Entertainment Co.’s stockholders (in dollars per share) | -$1.07 | -$0.04 | -$2.80 | $3.39 |
| Basic (in shares) | 36.1M | 35.9M | 36.2M | 36.3M |
| Diluted (in shares) | 36.1M | 35.9M | 36.2M | 44.8M |
| Line item | Dec 31, 2025 · FY | Jun 30, 2024 · FY | Jun 30, 2023 · FY | Jun 30, 2022 · FY |
|---|---|---|---|---|
| Cash, cash equivalents and restricted cash | $521.3M | $573.2M | $429.1M | — |
| Accounts receivable, net / Related party receivables, current | $196.1M | $237.6M | $138.7M | $216.7M |
| Prepaid expenses and other current assets | $92.8M | $54.9M | $56.1M | $123.5M |
| Total current assets | $810.2M | $865.7M | $623.9M | $1.2B |
| Investments | $38.7M | $30.7M | — | — |
| Property and equipment, net | $2.7B | $3.2B | $3.3B | $2.9B |
| Right-of-use lease assets | $91.4M | $106.5M | $84.9M | $446.5M |
| Goodwill | $344.8M | $470.2M | $456.8M | $500.2M |
| Intangible assets, net | $21.8M | $31.9M | $17.9M | $164.1M |
| Other non-current assets | $192.4M | $124.5M | $87.8M | $146.1M |
| Total assets | $4.2B | $4.8B | $5.0B | $5.5B |
| Accounts payable | $24.6M | — | — | $32.0M |
| Accrued expenses and other current liabilities | $431.5M | — | — | — |
| Related party payables, current | $14.3M | $8.2M | — | — |
| Current portion of long-term debt, net | $63.0M | $849.4M | $82.5M | $73.8M |
| Operating lease liabilities, current | $17.2M | $18.5M | $10.1M | $65.3M |
| Deferred revenue | $192.8M | $80.4M | $27.3M | $228.0M |
| Total current liabilities | $743.4M | $1.4B | $692.1M | $956.4M |
| Long-term debt, net | $767.4M | $522.7M | $1.1B | $1.7B |
| Operating lease liabilities, non-current | $113.8M | $128.0M | $110.3M | $428.0M |
| Deferred tax liabilities, net | $172.1M | $225.2M | $379.6M | $163.4M |
| Other non-current liabilities | $179.9M | $122.7M | $88.8M | $145.5M |
| Total liabilities | $2.0B | $2.4B | $2.4B | $3.4B |
| Common stock | $366.0K | $354.0K | $347.0K | $342.0K |
| Additional paid-in capital | $2.5B | $2.4B | $2.4B | $2.3B |
| Treasury stock, at cost, 1,054 and 0 shares as of December 31, 2025 and 2024 | -50.0M | — | — | — |
| Accumulated deficit | ($186.4M) | $11.4M | $212.0M | ($290.7M) |
| Accumulated other comprehensive loss | ($782.0K) | ($6.6M) | ($4.9M) | ($48.4M) |
| Total stockholders’ equity | $2.2B | $2.4B | $2.6B | $2.0B |
| Total liabilities and equity | $4.2B | $4.8B | $5.0B | $5.5B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash, cash equivalents, and restricted cash | $552.0M | $630.2M | $398.3M | $368.9M |
| Accounts receivable, net / Related party receivables, current | $165.1M | $201.8M | $181.2M | $162.2M |
| Prepaid expenses and other current assets | $66.9M | $71.7M | $86.9M | $64.3M |
| Total current assets | $784.0M | $903.6M | $666.4M | $595.4M |
| Investments | $37.3M | $37.6M | $40.4M | $41.3M |
| Property and equipment, net | $2.6B | $2.6B | $2.8B | $2.9B |
| Right-of-use lease assets | $96.5M | $88.9M | $85.9M | $88.8M |
| Goodwill | $344.8M | $344.8M | $344.8M | $410.2M |
| Intangible assets, net | $18.5M | $20.2M | $23.5M | $25.1M |
| Other non-current assets | $204.8M | $198.2M | $200.4M | $186.3M |
| Total assets | $4.0B | $4.2B | $4.1B | $4.2B |
| Accounts payable | $13.9M | $36.5M | $30.8M | $14.8M |
| Accrued expenses and other current liabilities | $391.5M | $427.1M | $385.6M | $346.9M |
| Related party payables, current | $4.2M | $11.4M | $16.8M | $5.8M |
| Current portion of long-term debt, net | $58.3M | $57.7M | $88.8M | $58.8M |
| Operating lease liabilities, current | $14.1M | $16.5M | $16.2M | $17.5M |
| Deferred revenue | $158.4M | $193.5M | $159.1M | $83.2M |
| Total current liabilities | $640.4M | $742.7M | $697.2M | $526.9M |
| Long-term debt, net | $722.1M | $752.7M | $786.1M | $830.5M |
| Operating lease liabilities, non-current | $118.8M | $111.5M | $109.8M | $111.8M |
| Deferred tax liabilities, net | $135.2M | $166.7M | $215.1M | $250.6M |
| Other non-current liabilities | $191.5M | $201.3M | $175.3M | $165.5M |
| Total liabilities | $1.8B | $2.0B | $2.0B | $1.9B |
| Common stock | $370.0K | $368.0K | $364.0K | $360.0K |
| Additional paid-in capital | $2.5B | $2.5B | $2.5B | $2.5B |
| Treasury stock, at cost, 1,054 shares as of June 30, 2026 and December 31, 2025 | -50.0M | -50.0M | -50.0M | — |
| Accumulated deficit | ($220.3M) | ($182.0M) | ($251.2M) | ($150.0M) |
| Accumulated other comprehensive loss | ($1.5M) | ($1.1M) | ($280.0K) | ($34.0K) |
| Total stockholders’ equity | $2.2B | $2.2B | $2.2B | $2.3B |
| Total liabilities and equity | $4.0B | $4.2B | $4.1B | $4.2B |
| Line item | Dec 31, 2025 · FY | Jun 30, 2024 · FY | Jun 30, 2023 · FY | Jun 30, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $33.4M | ($200.6M) | $505.7M | ($190.1M) |
| Depreciation and amortization | $336.4M | $256.5M | $103.4M | $124.6M |
| Impairments and other losses (gains), net | $69.8M | $121.5M | — | — |
| Amortization of debt discount and deferred financing costs | $2.7M | $3.2M | — | — |
| Amortization of deferred production content | $34.4M | $20.4M | — | — |
| Deferred income tax expense (benefit) | $20.9M | ($132.5M) | $123.5M | ($31.3M) |
| Share-based compensation expense | $59.0M | $48.0M | $62.7M | $77.1M |
| Net unrealized and realized loss (gains) on equity investments with readily determinable fair value and loss (earnings) in nonconsolidated affiliates | $1.6M | $23.0M | ($548.7M) | — |
| Gain on extinguishment of debt | ($360.2M) | — | — | — |
| Other non-cash adjustments | $3.0M | $486.0K | ($538.0K) | ($175.0K) |
| Accounts receivable, net | ($17.1M) | ($115.1M) | $7.1M | ($30.7M) |
| Related party receivables and payables, net | $6.1M | — | $35.8M | $14.8M |
| Prepaid expenses and other current and non-current assets | ($108.2M) | ($50.6M) | ($178.8M) | ($44.0M) |
| Accounts payable | ($9.0M) | — | — | $6.6M |
| Accrued expenses and other current and non-current liabilities | $60.8M | — | — | $71.8M |
| Deferred revenue | $112.1M | $61.5M | $135.4M | $18.6M |
| Right-of-use lease assets and operating lease liabilities | ($2.4M) | $4.0M | ($16.3M) | — |
| Net cash provided by (used in) operating activities | $243.3M | ($19.7M) | $153.6M | $141.3M |
| Capital expenditures, net | ($52.3M) | ($264.7M) | ($1.1B) | ($756.7M) |
| Investments and loans in nonconsolidated affiliates | $0 | ($731.0K) | ($5.9M) | — |
| Purchase of business, net of cash acquired | $0 | ($9.4M) | — | — |
| Proceeds from sale of MSGE Retained Interest | $0 | $256.5M | — | — |
| Capitalized interest | $0 | ($25.1M) | ($116.0M) | ($48.5M) |
| Proceeds from dispositions, net | $48.8M | $0 | $318.0M | — |
| Proceeds from sale of investments | $0 | $0 | $209.0M | — |
| Other investing activities | ($311.0K) | ($1.8M) | — | $1.1M |
| Net cash used in investing activities | ($3.9M) | ($45.2M) | ($653.9M) | ($804.2M) |
| Principal repayments on debt | ($165.3M) | ($83.8M) | ($72.9M) | — |
| Taxes paid in lieu of shares issued for share-based compensation | -24.5M | -16.5M | -16.6M | -16.7M |
| Proceeds from issuance of 3.50% Convertible Senior Notes due 2028 | $0 | $251.6M | — | $725.0M |
| Borrowings under Delayed Draw Term Loan Facility | $0 | $65.0M | — | — |
| Proceeds from exercise of stock options | $6.5M | $8.8M | — | — |
| Purchase of capped call related to 3.50% Convertible Senior Notes due 2028 | $0 | ($14.3M) | — | — |
| Payments for debt financing costs | $0 | ($1.0M) | ($5.2M) | ($17.5M) |
| Proceeds from term loans, net of issuance discount | $0 | $0 | — | — |
| Noncontrolling interest holders’ capital contributions | $0 | $0 | $3.0M | $6.4M |
| Distribution to MSG Entertainment | $0 | $0 | ($119.1M) | ($4.6M) |
| Distribution to related parties associated with the settlement of certain share-based awards | $0 | $0 | ($2.4M) | — |
| Repayment of revolving credit facilities | $0 | $0 | ($2.0M) | ($15.0M) |
| Distributions to noncontrolling interest holders | $0 | $0 | ($1.9M) | ($7.0M) |
| Stock repurchases, inclusive of excise tax | ($50.0M) | — | — | $0 |
| Net cash (used in) provided by financing activities | ($233.3M) | $209.7M | $85.5M | ($30.4M) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | ($469.0K) | ($771.0K) | ($2.1M) | ($750.0K) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $5.6M | $144.1M | ($416.9M) | ($694.0M) |
| Cash, cash equivalents and restricted cash from continuing operations, beginning of period | $515.6M | $429.1M | $846.0M | $1.5B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net (loss) income | ($33.9M) | $4.5M | ($31.3M) | $69.9M |
| Depreciation and amortization | $168.7M | $84.4M | $252.2M | $168.1M |
| Impairments and other losses, net | $79.0K | $79.0K | $69.6M | $4.2M |
| Amortization of debt discount and deferred financing costs | $1.8M | $1.0M | $2.0M | $1.4M |
| Amortization of deferred production content | $19.9M | $11.1M | $21.7M | $13.1M |
| Deferred income tax (benefit) expense | ($36.7M) | ($5.3M) | $63.6M | $99.0M |
| Share-based compensation expense | $31.6M | $13.9M | $49.0M | $40.4M |
| Net unrealized and realized loss (gain) on equity investments with readily determinable fair value and loss in nonconsolidated affiliates | $1.1M | $1.1M | ($8.0K) | ($601.0K) |
| Loss (gain) on extinguishment of debt | $2.1M | ($2.1M) | ($360.2M) | ($360.2M) |
| Other non-cash adjustments | $196.0K | $85.0K | $2.4M | ($1.7M) |
| Accounts receivable, net | $19.3M | ($9.9M) | ($16.3M) | $3.4M |
| Related party receivables and payables, net | $1.6M | $1.3M | $22.7M | $11.0M |
| Prepaid expenses and other current and non-current assets | ($6.2M) | $4.3M | ($97.7M) | ($52.7M) |
| Accounts payable | ($10.7M) | $11.9M | ($2.8M) | ($18.8M) |
| Accrued and other current and non-current liabilities | ($30.1M) | $8.7M | $7.4M | ($31.0M) |
| Deferred revenue | ($23.1M) | $11.8M | $82.8M | $3.3M |
| Right-of-use lease assets and operating lease liabilities | ($3.2M) | ($511.0K) | ($2.0M) | ($1.5M) |
| Net cash provided by (used in) operating activities | $102.6M | $136.2M | $63.1M | ($52.7M) |
| Capital expenditures, net | ($19.4M) | ($4.9M) | ($37.1M) | ($32.1M) |
| Proceeds from dispositions, net | $0 | — | $48.8M | $48.8M |
| Other investing activities | ($262.0K) | ($116.0K) | ($236.0K) | ($172.0K) |
| Net cash (used in) provided by investing activities | ($19.6M) | ($5.0M) | $11.4M | $16.4M |
| Repayment of debt | ($135.0M) | ($135.0M) | — | — |
| Proceeds from issuance of debt | $135.0M | $135.0M | — | — |
| Principal repayments on debt | ($49.5M) | ($18.9M) | ($120.2M) | ($105.0M) |
| Taxes paid in lieu of shares issued for share-based compensation | -9.6M | -5.9M | -22.5M | -6.1M |
| Proceeds from exercise of stock options | $7.0M | $2.5M | $595.0K | $0 |
| Net cash used in financing activities | ($52.1M) | ($22.3M) | ($192.1M) | ($111.1M) |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | ($73.0K) | ($86.0K) | $192.0K | $623.0K |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $30.8M | $108.9M | ($117.4M) | ($146.7M) |
| Cash, cash equivalents, and restricted cash at beginning of period | $521.3M | $521.3M | $515.6M | $515.6M |
| Cash, cash equivalents, and restricted cash at end of period | $552.0M | $630.2M | $398.3M | $368.9M |
| Capital expenditures incurred but not yet paid | $0 | $1.2M | $1.8M | $2.4M |
| Share-based compensation capitalized in property and equipment | $190.0K | $89.0K | $723.0K | $546.0K |
Sphere Entertainment Co. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.