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Warner Bros. Discovery, Inc. WBD Brand Licensing Contracts — Remaining performance obligations

Other product segments

Content Licensing Contracts
$4.53B+9.8%
Distribution
$2.85B
Advertising
$1.01B+48.8%

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$18M-45.5%
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WHCo-branded credit card program revenues — Remaining performance obligation
$85M+14.9%

Other financials

Income statement

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Revenue$8.9B-1.0%
Gross profit$4.3B+10.4%
Operating income-$2.5B-6,573%
Net income-$2.9B-544%
EPS (diluted)-$1.17-550%

Balance sheet

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Cash & equivalents$3.3B-15.6%
Total debt$1.5B-46.3%
Total equity$32.6B-3.7%
Total assets$97.8B-3.8%

Cash flow

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Operating cash flow-$208.0M-138%
CapEx$268.0M+6.8%
Free cash flow-$476.0M-258%

Valuation

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Market cap$67.64B+160%
Enterprise value$65.87B+164%
P/S1.8×+1.1×

Profitability

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Gross margin45.2%+2.7pp
Operating margin-4.6%-2.1pp
Net margin1.3%+0.7pp
FCF margin6.2%-5.1pp

Returns & leverage

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Return on equity1.4%+0.7pp
Debt / equity0.0×
Current ratio0.7×-0.1×

Where this comes from

Reported directly by Warner Bros. Discovery, Inc. in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The official record: Warner Bros. Discovery, Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Warner Bros. Discovery, Inc.'s brand licensing contracts — remaining performance obligations?
Warner Bros. Discovery, Inc. (WBD) reported brand licensing contracts — remaining performance obligations of $3.95B in Q1 2026.
What does brand licensing contracts — remaining performance obligations mean?
This metric quantifies the total transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the reporting date for brand licensing arrangements. It represents the backlog of revenue that the company has contracted to earn from licensing its intellectual property, characters, or content brands. This is a key indicator of future revenue visibility and the strength of the company's licensing pipeline.