National Cinemedia, Inc. · NASDAQ:NCMI
National Cinemedia — Q4 2025 Earnings Presentation
9 slides from National Cinemedia's earnings presentation, Feb 26, 2026
Slide 1: 4Q’25 Earnings Supplemental Presentation
4Q’25 Earnings Supplemental Presentation February 26, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains various forward-looking statements that reflect management’s current expectations or beliefs regarding future events, including statements regarding the Company’s anticipated future financial performance. Investors are cautioned that reliance on
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted OIBDA, Unlevered Free Cash Flow and Adjusted Operating Expense Adjusted Operating Income Before Depreciation and Amortization (“Adjusted OIBDA”), Unlevered free cash flow and Adjusted Operating Expense are not financial measures calculated in accordance with GAAP
Slide 4: 4Q’25 Key Highlights
4Q’25 Key Highlights • 4Q’25 attendance of 107M was up 7% vs. 4Q’24, notably due to an extra week in the quarter versus the prior year, despite a fourth quarter box office decline of 7%. • 4Q’25 revenue of $93.2M increased 8% as compared to 4Q’24 revenue of $86.3M, increasing advertising revenue per
Slide 5: 4Q’25 Results vs. Guidance
4Q’25 Results vs. Guidance 4Q’25 Revenue 4Q’25 Adjusted OIBDA $98.0 $37.2 $93.2 $35.0 $91.0 $30.0 Low High Actual Low High Actual Management Guidance Management Guidance 5
Slide 6: NCM, Inc. 4Q’25 & 2025 Financial Results
NCM, Inc. 4Q’25 & 2025 Financial Results Quarter Ended (in millions, unaudited) December 26, March 27, June 26, September 25, January 1, 2024 2025 2025 2025 2026 Attendance 100.7 72.3 115.3 108.7 107.4 Revenue $86.3 $34.9 $51.8 $63.4 $93.2 Operating Expenses Network Operating Costs 3.1 3.1 3.2 3.2 3
Slide 7: Adjusted OIBDA & Unlevered Free Cash Flow Reconciliation for NCM, Inc.
Adjusted OIBDA & Unlevered Free Cash Flow Reconciliation for NCM, Inc. Quarter Ended (in millions, unaudited) December 26, March 27, June 26, September 25, January 1, 2024 2025 2025 2025 2026 Operating income (loss) $20.0 $(23.9) $(12.0) $(1.8) $23.8 Depreciation expense 1.1 1.1 1.1 1.1 1.3 Amortiza
Slide 8: Adjusted Operating Expense Reconciliation for NCM, Inc.
Adjusted Operating Expense Reconciliation for NCM, Inc. Quarter Ended (in millions, unaudited) December 26, March 27, June 26, September 25, January 1, 2024 2025 2025 2025 2026 Operating expense $66.3 $58.8 $63.8 $65.2 $69.4 Depreciation expense (1.1) (1.1) (1.1) (1.1) (1.3) Amortization expense ( 9
Slide 9: Investor Contact Media Contact
Investor Contact Media Contact Chan Park press@ncm.com investors@ncm.com