国家影院媒体公司2025年季度报告

For the quarterly period endedMarch 27,2025or Large accelerated filer☐Accelerated filerNon-accelerated filer☐Smaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Unaudited Financial Statements Unaudited Condensed Consolidated Balance SheetsUnaudited Condensed Consolidated Statements of Operations Unaudited Condensed Consolidated Statements of Equity Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures about Market Risk Unregistered Sales of Equity Securities and Use of Proceeds Mine Safety Disclosures Other Information Exhibits Balance—December 28, 2023 Purchases of NCM, Inc.'s common stock Comprehensive loss, net of tax(34.7)—————(34.7)Share-based compensation issued, net of tax0.1253,397———0.1—Share-based compensation expensed/capitalized2.6————2.6—Balance—March 28, 202497,082,43 Balance—December 26, 2024$411.295,755,491$2.550$—$127.8$280.9$Purchases of NCM, Inc.'s common stock(9.4)(1,455,668)————(9.4)Comprehensive loss, net of tax(30.7)—————(30.7)Share-based compensation issued, net of tax(0.1)563,648———(0.1)—Share-based compensation expensed/capitalized2.7————2.7— 5See accompanying notes to the unaudited Condensed Consolidated Financial Statements. Description of BusinessNational CineMedia, Inc., a Delaware corporation (“NCM, Inc.”), is a holding company with the sole purpose of becoming currently owns approximately100.0% of NCM LLC. The terms “NCM”, “the Company” or “we” shall, unless the contextotherwise requires, be deemed to include the consolidated entity.National CineMedia is the largest cinema advertising platform in the US. With unparalleled reach and scale, NCM connectsbrands to sought-after young, diverse audiences through the power of movies and pop culture. A premium video, full-funnelmarketing solution for advertisers, NCM enhances advertisers’ ability to measure and drive results. NCM’sNoovie® Show ispresented exclusively in42leading national and regional theater circuits including the only three national chains, AMC, Cinemark average remaining term of the ESAs with Cinemark and AMC was approximately13.8years. The network affiliate agreementsexpire at various dates betweenJuly 2025 and July 2033. The weighted average remaining term of the ESAs and the network On April 11, 2023, NCM LLC filed a voluntary petition for reorganization (the “Chapter 11 Case”) with a prearranged the Southern District of Texas (“Bankruptcy Court”). During the Chapter 11 Case, the Company was deemed to no longer controlNCM LLC for accounting purposes and NCM LLC was deconsolidated from the Company’s financial statements prospectively asof April 11, 2023 and the Company recorded a gain on deconsolidation of $557.7million within the second quarter of 2023. NCM,Inc. continued to operate as the manager of the debtor-in-possession pursuant to the authority granted under Chapter 11 of theBankruptcy Code throughout the Chapter 11 Case. First Amended Plan of Reorganization of National CineMedia, LLC Pursuant to Chapter 11 of the Bankruptcy Code [Docket No.428] (as may be amended, modified, or supplemented form time to time, the “Plan”) and approving the Amended Disclosure Statement for First Amended Chapter 11 Plan of Reorganization of National CineMedia, LLC [Docket No. 250] (the “DisclosureStatement”) on a final basis. Following confirmation of the Plan on August 7, 2023 (the “Effective Date”), all the conditions toeffectiveness of the Plan were satisfied or waived, the Restructuring Transactions (as defined in the “Plan”) were substantiallyconsummated and NCM LLC emerged from bankruptcy. Among other things, on the Effective Date, in accordance with the Plan,all common units under the NCM LLC’s Third Amended and Restated Limited Liability Company Operating Agreement (the Cinemark’s ESAs, NCM LLC transferred $8.8million of cash to a professional fees escrow account and $15.0million to anunsecured creditor settlements escrow account for the General Unsecured Claim Pool (as defined in the Plan). NCM LLCcommenced distributions to creditors, including the issuance of shares of NCM, Inc. common stock to holders of Secured DebtClaims (as defined in the Plan) and NCM LLC entered into an Exit Facility (as defined in the Plan and also referred to as the"Revolving Credit Facility 2023") to support operations upon emergence. As a result of the Plan, all historical debt of NCM LLC after taking into account elections by the holders of Secured Debt Claims to receive NCM, Inc. common stock in lieu of NCM LLCcommon units and NCM LLC was therefore reconsolidated into the Company’s fi