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Sphere Entertainment SPHR Sphere — Adjusted Operating Income (Loss)

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Other financials

Income statement

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Revenue$386.4M+37.7%
Operating income$7.2M+109%
Net income$4.5M+105%
EPS (diluted)-$0.04+98.2%

Balance sheet

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Cash & equivalents$630.2M+31.8%
Total debt$938.4M-35.8%
Total equity$2.2B+4.9%
Total assets$4.2B-5.1%

Cash flow

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Operating cash flow$136.2M+2,046%
CapEx$4.9M-72.1%
Free cash flow$131.4M+1,279%

Valuation

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Market cap$5.54B+262%
Enterprise value$5.85B+168%
P/E46.2×
P/S4.2×+2.6×

Profitability

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Operating margin-28.1%-4.3pp
Net margin9%+5.2pp
FCF margin25.2%+15.7pp

Returns & leverage

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Return on equity5.5%+3.2pp
Debt / equity0.4×-0.3×
Current ratio1.2×+0.7×

Where this comes from

Reported directly by Sphere Entertainment in its filing.

Tagged under the XBRL concept sphr:AdjustedOperatingIncomeLoss.

The source filing: Sphere Entertainment’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 5:23 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-030740
Line itemThree Months Ended / SphereThree Months Ended / MSG NetworksThree Months Ended / Total
Adjustments:
Share-based compensation expense13,14376713,910
Depreciation and amortization82,2742,09384,367
Restructuring charges2,6737413,414
Impairment and other losses, net7979
Merger, debt work-out, and acquisition related costs, net of insurance recoveries8787
Amortization for capitalized cloud computing arrangement costs917917
Adjusted operating income$74,290$35,686$109,976

Item 1. Financial Statements

FAQ

What is Sphere Entertainment's sphere — adjusted operating income (loss)?
Sphere Entertainment (SPHR) reported sphere — adjusted operating income (loss) of $74.29M in Q1 2026.
How has Sphere Entertainment's sphere — adjusted operating income (loss) changed year-over-year?
Sphere Entertainment's sphere — adjusted operating income (loss) increased by 465.1% year-over-year, from $13.15M to $74.29M.
What is the long-term trend for Sphere Entertainment's sphere — adjusted operating income (loss)?
Over 3 years (2021 to 2025), Sphere Entertainment's sphere — adjusted operating income (loss) has grown at a 2.1% compound annual growth rate (CAGR), from -$135.63M to $144.56M.
What does sphere — adjusted operating income (loss) mean?
This is a non-GAAP measure of segment profitability that excludes non-cash items like depreciation and amortization, as well as non-recurring charges such as restructuring or acquisition-related costs. It provides a clearer view of the underlying operational performance and cash-generating capability of the business segment. Investors use this to assess the core health of the segment independent of accounting adjustments.

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