Sphere Entertainment Co.SPHREarnings & Financial Report
Sphere Entertainment Co. is an American entertainment holding company based in New York City, and controlled by the family of Charles Dolan. It owns the Sphere event venue in Paradise, Nevada, in the Las Vegas Valley and New York-based regional sports network chain MSG Networks.
Revenue
$262.1M
Gross Profit
N/A
Operating Profit
$-129.7M
Net Profit
$-101.2M
Gross Margin
N/A
Operating Margin
-49.5%
Net Margin
-38.6%
YoY Growth
15.4%
EPS
$-2.80
Sphere Entertainment Co. Q3 FY2025 Financial Summary
Sphere Entertainment Co. reported revenue of $262.1M (up 15.4% YoY) for Q3 FY2025, with a net profit of $-101.2M (up 3.9% YoY) (-38.6% margin).
Key Financial Metrics
| Total Revenue | $262.1M |
|---|---|
| Net Profit | $-101.2M |
| Gross Margin | N/A |
| Operating Margin | -49.5% |
| Report Period | Q3 FY2025 |
Revenue Breakdown
Sphere Entertainment Co. Q3 FY2025 revenue of $262.1M breaks down across 6 segments, led by Ticketing And Venue License Fee Revenues at $124.7M (47.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Ticketing And Venue License Fee Revenues | $124.7M | 47.6% |
| Media Networks Revenue | $88.4M | 33.7% |
| Food Beverage And Merchandise Revenues | $25.0M | 9.5% |
| Sponsorship Signage Exosphere Advertising And Suite Licenses | $17.2M | 6.6% |
| Other | $6.8M | 2.6% |
| Related Party | $1.3M | 0.5% |
Sphere Entertainment Co. Revenue by Segment — Quarterly Trend
Sphere Entertainment Co. revenue by segment across the last 4 reported quarters, showing how each business line (such as Ticketing And Venue License Fee Revenues and Media Networks Revenue) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Ticketing And Venue License Fee Revenues | $198.5M | $124.7M | $124.6M | $113.0M |
| Media Networks Revenue | $120.1M | $88.4M | $107.1M | $123.0M |
| Food Beverage And Merchandise Revenues | $27.6M | $25.0M | $27.9M | $19.9M |
| Sponsorship Signage Exosphere Advertising And Suite Licenses | $32.2M | $17.2M | $22.6M | $24.2M |
| Other | $13.2M | $6.8M | — | — |
Sphere Entertainment Co. Annual Revenue by Year
Sphere Entertainment Co. annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.2B |
| 2023 | $720.5M |
Sphere Entertainment Co. Quarterly Revenue & Net Profit History
Sphere Entertainment Co. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $393.8M | — | $64.7M | 16.4% |
| Q3 FY2025 | $262.1M | +15.4% | $-101.2M | -38.6% |
| Q2 FY2025 | $282.2M | +3.5% | $151.8M | 53.8% |
| Q1 FY2025 | $280.1M | -12.6% | $-82.0M | -29.3% |
| Q3 FY2024 | $227.1M | +93.7% | $-105.3M | -46.4% |
| Q2 FY2024 | $272.6M | +112.3% | $-46.6M | -17.1% |
| Q1 FY2024 | $320.6M | +98.6% | $-47.2M | -14.7% |
| Q4 FY2023 | $313.4M | +97.2% | $-173.2M | -55.3% |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $313.4M | $320.6M | $272.6M | $227.1M | $280.1M | $282.2M | $262.1M | $393.8M |
| YoY Growth | 97.2% | 98.6% | 112.3% | 93.7% | -12.6% | 3.5% | 15.4% | N/A |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $4.88B | $4.87B | N/A | $4.59B | $4.45B | $4.20B | $4.14B | $4.21B |
| Liabilities | $2.42B | $2.43B | N/A | $2.28B | $2.31B | $1.89B | $1.98B | $1.98B |
| Equity | $2.47B | $2.44B | $2.42B | $2.31B | $2.14B | $2.31B | $2.16B | $2.23B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $46.4M | $101.0M | $-72.4M | $34.1M | $6.3M | $-59.1M | $115.8M | $180.2M |