Sphere Entertainment Co-A 2026年季度报告

FORM 10-Q________________________ (MarkOne) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 For the transition period from______to______Commission File Number: 001-39245 SPHERE ENTERTAINMENT CO.(Exact name of registrant as specified in its charter) 10121(Zip Code) Registrant’s telephone number, including area code:(725) 258-0001 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.☑Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).☑Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☑Non-accelerated filer☐ Accelerated filerSmallerreportingcompanyEmerging 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☑NoNumber of shares of common stock outstanding as of April30, 2026: ClassA Common Stock par value $0.01 per shareClass B Common Stock par value $0.01 per share —28,925,449—6,866,754 SPHERE ENTERTAINMENT CO.INDEX TO FORM 10-Q PARTI. FINANCIALINFORMATION Item1. Financial StatementsCondensed Consolidated Balance Sheets as of March 31, 2026and December 31, 2025(Unaudited)1Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025(Unaudited)2Condensed Consolidated Statements of ComprehensiveIncome (Loss) for the three months ended March 31, 2026and 2025(Unaudited)3Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025(Unaudited)4Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2026 and 2025(Unaudited)5Notes to Condensed Consolidated Financial Statements (Unaudited)6Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item3. Quantitative and Qualitative Disclosures About Market Risk43Item4. Controls and Procedures44PARTII. OTHERINFORMATIONItem 1. Legal Proceedings45Item 2. Unregistered Sales of Equity Securities and Use of Proceeds46Item 5. Other Information47Item6. Exhibits48 SPHERE ENTERTAINMENT CO.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)(in thousands, except per share data) See accompanying notes to the unaudited condensed consolidated financial statements. SPHERE ENTERTAINMENT CO.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)(in thousands) SPHERE ENTERTAINMENT CO.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(in thousands) SPHERE ENTERTAINMENT CO.CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(UNAUDITED)(in thousands) SPHERE ENTERTAINMENT CO.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) All amounts included in the following notes to condensed consolidated financial statements (unaudited) are presented in USDand in thousands, except per share data or as otherwise noted.0 Note1.Description of Business and Basis of Presentation Description of Business Sphere Entertainment Co. (together with its subsidiaries, the “Company” or “Sphere Entertainment”) is a leader in immersiveexperiences, technology and media and is comprised of two reportable segments, Sphere and MSG Networks. Sphereis anexperiential medium powered by advanced technologies, and MSG Networks operates two regional sports and entertainmentnetworks, as well as a direct-to-consumer (“DTC”) and authenticated streaming product.® Sphere: This segment reflects Sphere, an experiential medium powered by advanced technologies that bring storytelling to a new level.The Company’s first Sphere venue opened in Las Vegas on September 29, 2023. The entire exterior surface of Sphere, referred to asthe Exosphere , is covered with nearly 580,000 square feet of fully pro