National CineMedia Files 10-Q for Q2 2024
Ticker: NCMI · Form: 10-Q · Filed: Aug 5, 2024 · CIK: 1377630
Sentiment: neutral
Topics: 10-Q, financials, advertising
TL;DR
NCM's Q2 10-Q is in - check financials and key partnerships.
AI Summary
National CineMedia, Inc. filed its 10-Q for the period ending June 27, 2024. The filing details financial performance and operational updates. Key financial data points and business relationships are disclosed, including information related to its subsidiaries and revenue streams.
Why It Matters
This filing provides investors with a quarterly update on National CineMedia's financial health and strategic positioning within the advertising and media industry.
Risk Assessment
Risk Level: medium — The filing contains information about customer concentration and fair value measurements, which can indicate financial risks.
Key Numbers
- 2024-06-27 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-08-05 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2023-12-29 — Previous Year End Date (Provides a point of comparison for financial performance year-over-year.)
Key Players & Entities
- National CineMedia, Inc. (company) — Filer of the 10-Q
- 2024-06-27 (date) — End of reporting period
- 2024-08-05 (date) — Filing date
- Cinemark and Regal (company) — Mentioned in relation to contracts/agreements
- AMC (company) — Mentioned in relation to contracts/agreements
- CustomerOne (company) — Identified as a customer with concentration risk
- National CineMedia LLC (company) — Subsidiary or related entity
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 5, 2024.
Which major cinema partners are mentioned in the filing?
The filing mentions Cinemark and Regal, and AMC in relation to agreements or contracts.
Is there any mention of customer concentration risk?
Yes, the filing mentions 'CustomerOne' in the context of customer concentration risk for sales revenue.
What is the company's primary business classification?
National CineMedia, Inc. is classified under SERVICES-ADVERTISING [7310].
Filing Stats: 4,564 words · 18 min read · ~15 pages · Grade level 8.2 · Accepted 2024-08-05 16:16:41
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share NCMI The Nasdaq Stock Mar
Filing Documents
- ncmi-20240627.htm (10-Q) — 2285KB
- ncmi-ex31_1.htm (EX-31.1) — 12KB
- ncmi-ex31_2.htm (EX-31.2) — 12KB
- ncmi-ex32_1.htm (EX-32.1) — 8KB
- ncmi-ex32_2.htm (EX-32.2) — 8KB
- img183655431_0.jpg (GRAPHIC) — 154KB
- 0000950170-24-090775.txt ( ) — 8821KB
- ncmi-20240627.xsd (EX-101.SCH) — 1287KB
- ncmi-20240627_htm.xml (XML) — 1303KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.
Controls and Procedures
Controls and Procedures 33 PART II Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Item 6. Exhibits 35
Signatures
Signatures 36 PA RT I
Financ ial Statements
Item 1. Financ ial Statements NATIONAL CINEMEDIA, INC. AND SUBSIDIARIES CONDENSED CONSOLIDAT ED BALANCE SHEETS (In millions, except share and per share data) (UNAUDITED) As of June 27, 2024 December 28, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 53.8 $ 34.6 Restricted cash 3.0 3.0 Receivables, net of allowance of $ 1.0 and $ 1.4 , respectively 50.7 96.6 Prepaid expenses and other current assets 8.9 9.6 Total current assets 116.4 143.8 NON-CURRENT ASSETS: Property and equipment, net of accumulated depreciation of $ 3.5 and $ 1.6 , respectively 15.8 15.8 Intangible assets, net of accumulated amortization of $ 34.0 and $ 15.0 , respectively 375.0 394.3 Other investments 1.0 0.7 Debt issuance costs, net 1.7 2.2 Other assets 17.3 10.9 Total non-current assets 410.8 423.9 TOTAL ASSETS $ 527.2 $ 567.7 LIABILITIES AND EQUITY CURRENT LIABILITIES: Amounts due to ESA Parties, net $ 3.9 $ 6.6 Accrued expenses 1.7 1.6 Accrued payroll and related expenses 10.1 17.7 Accounts payable 16.3 21.7 Deferred revenue 12.6 9.8 Other current liabilities 2.9 1.0 Total current liabilities 47.5 58.4 NON-CURRENT LIABILITIES: Long-term debt 10.0 10.0 Payable under the TRA 70.3 59.8 Other liabilities 11.5 5.0 Total non-current liabilities 91.8 74.8 Total liabilities 139.3 133.2 COMMITMENTS AND CONTINGENCIES (NOTE 9) EQUITY: NCM, Inc. Stockholders' Equity: Preferred stock, $ 0.01 par value; 10,000,000 shares authorized, 50 issued and outstanding — — Common stock, $ 0.01 par value; 260,000,000 shares authorized, 95,238,849 and 96,837,039 issued and outstanding, respectively 2.5 2.6 Additional paid in capital 121.6 115.3 Retained earnings 263.8 316.6 Total NCM, Inc. stockholders' equity 387.9 434.5 Noncontrolling interests — — Total equity 387.9 434.5 TOTAL