Q2 2025 National Cinemedia Inc Earnings Call Transcript
Key Points
- Programmatic advertiser volume grew by more than 50% quarter-over-quarter, with approximately 70% of second quarter programmatic advertisers being new to National CineMedia Inc (NCMI).
- Third quarter ad sales commitments are pacing ahead of last year's levels, indicating improved visibility and confidence in delivering a stronger start to the second half.
- The company welcomed 12 new advertisers that placed major cinema campaigns for the first time since the pandemic, showing a successful client acquisition strategy.
- National CineMedia Inc (NCMI) reached over 115 million individuals across its network in the second quarter, up 24% compared with the second quarter of 2024.
- The company has reinstated its dividend program, announcing a quarterly dividend of $0.03 per share, amounting to $2.8 million, reflecting a commitment to returning capital to shareholders.
- Second quarter total revenue was $51.8 million, below the guidance range of $56 million to $61 million and down 5% versus the prior year period.
- Local and regional advertising revenue totaled $6.4 million in the second quarter, down from $9.8 million in the second quarter of 2024, reflecting cautious advertiser sentiment.
- Adjusted OIBDA for the second quarter was $0.7 million compared to $7.6 million in the prior year, driven primarily by weaker top-line results.
- Total revenue for the year-to-date was $86.6 million compared to $92.1 million in the same period last year, with national and local advertising revenues declining 4% and 25% respectively.
- The company faced heightened volatility in advertiser budgets across key verticals such as automotive, consumer packaged goods, and government, driven by broader economic uncertainty and shifting public sector spending priorities.
Good afternoon and welcome to the National Cinemedia second quarter 2025 earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Chan Park, Vice President of Finance. Please go ahead.
Thank you, operator. Good afternoon. I'm joined today by our Chief Executive Officer, Tom Lesinski; and our Chief Financial Officer, Ronnie Ng. I would like to remind our listeners that this conference call contains forward-looking statements within the meaning of 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of a historical facts communicated during this conference call may constitute forward-looking statements. These forward-looking statements involve risks and uncertainties. Important factors that can cause actual results to differ materially from the company's expectations are disclosed in the risk factors
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