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Sphere Entertainment SPHR Sphere — Other direct operating expenses

Other segment segments

MSG Networks
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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 us-gaap:OtherCostAndExpenseOperating.

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
Event-related expenses (a)94,42694,426
Rights fee expense50,64650,646
Network programming and production costs19,77519,775
Other direct operating expenses (a)4,8004,800
Overhead expenses(b)106,59615,107121,703
Other segment expenses(c)85,0262,83487,860
Operating (loss) income$(24,883)$32,085$7,202
Other income (expense):

Item 1. Financial Statements

FAQ

What is Sphere Entertainment's sphere — other direct operating expenses?
Sphere Entertainment (SPHR) reported sphere — other direct operating expenses of $4.8M in Q1 2026.
How has Sphere Entertainment's sphere — other direct operating expenses changed year-over-year?
Sphere Entertainment's sphere — other direct operating expenses decreased by 40.3% year-over-year, from $8.04M to $4.8M.
What is the long-term trend for Sphere Entertainment's sphere — other direct operating expenses?
Over 2 years (2023 to 2025), Sphere Entertainment's sphere — other direct operating expenses has grown at a 125.2% compound annual growth rate (CAGR), from $5.55M to $28.11M.
What does sphere — other direct operating expenses mean?
Captures miscellaneous direct costs necessary for the day-to-day operation of the segment that are not classified under primary production or overhead categories. These expenses are essential for maintaining service delivery and venue operations. Tracking these costs helps identify operational bloat or unexpected increases in variable business expenses.

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