Madison Square Garden Sports | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 39.45 M

Revenue: As of FY2026 Q1, the actual value is USD 39.45 M, missing the estimate of USD 41.41 M.

EPS: As of FY2026 Q1, the actual value is USD -0.37.

EBIT: As of FY2026 Q1, the actual value is USD -22.41 M.

Segment Revenue

• Total revenues for the three months ended September 30, 2025, were $39,454, a decrease of 26% compared to $53,307 for the same period in 2024.

Operational Metrics

• Operating loss for the three months ended September 30, 2025, was $27,425, compared to an operating loss of $8,273 for the same period in 2024.
• Net loss for the three months ended September 30, 2025, was $8,798, compared to a net loss of $7,542 for the same period in 2024.

Cash Flow

• Net cash used in operating activities for the three months ended September 30, 2025, was $84,954, compared to $26,158 for the same period in 2024.
• Net cash used in investing activities for the three months ended September 30, 2025, was $1,848, compared to $1,163 for the same period in 2024.
• Net cash used in financing activities for the three months ended September 30, 2025, was $9,110, compared to $9,502 for the same period in 2024.

Unique Metrics

• The Company recorded a miscellaneous income of $15,085 for the three months ended September 30, 2025, compared to a miscellaneous expense of $1,126 for the same period in 2024, primarily due to changes in fair value in the Company’s investments.

Future Outlook and Strategy

• Core Business Focus: The Company expects to record media rights fees reflecting reduced rates due to amendments to the Knicks’ and Rangers’ local media rights agreements with MSG Networks, with stated annual local media rights fees of $139,237 for the year ending June 30, 2026, compared to $162,939 for the fiscal year ended June 30, 2025.
• Non-Core Business: The Company did not report specific plans related to divestitures or emerging segments in the provided period.

Priority

• The Company emphasizes the impact of the amendments to the media rights agreements on future revenue projections, with a focus on managing costs and optimizing operational efficiency in response to reduced media rights fees.