Consolidated Revenue Growth
Total Q1 2026 consolidated revenue increased by $5.0M to $45.12M year-over-year, reported as the second-highest first quarter since Q1 2020.
Strong Global Cinema Performance
Global cinema revenue rose 14% YoY to $41.5M; U.S. cinema revenue increased 6% to $19.5M; Australian cinema revenue increased 26% to $19.7M. Global cinema operating loss improved 70% to $1.3M and segment operating income was positive at $0.48M (best first quarter result since 2019).
First Positive Cinema Operating Earnings (pre D&A) Since 2019
Cinema segment operating earnings before depreciation and amortization were positive in Q1 2026 for the first time since 2019, signaling improved core operations.
Record Per-Guest and Ticket Metrics
F&B spend per person set first-quarter records (U.S. $8.38; Australia AU$8.09). Average ticket price (ATP) records: Australia ATP $16.19 (highest first quarter ever) and New Zealand ATP NZD 14.87 (highest quarter ever).
Loyalty and Membership Growth
Reading Rewards membership exceeded 510,000 (19% increase over prior quarter). Paid memberships in Australia/New Zealand exceeded 31,800 (44% increase over prior quarter). U.S. launches added ~24,000 rewards and 1,500 paid members; Angelika free program ~185,000 members.
Improved Operating Cash Flow and Reduced Cash Burn
Net cash used in operating activities decreased by $5.2M to $2.5M (from $7.7M), driven by lower operating loss and increased payables.
Lower Interest Expense and Debt Reduction Since 2020
Interest expense reduced $0.5M (11%) YoY for the quarter. Company has reduced overall gross debt by $100.4M since December 31, 2020.
Stable/High Real Estate Occupancy and U.S. Real Estate Strength
Remaining Australia/New Zealand third-party real estate portfolio maintained 98% occupancy. U.S. real estate revenue increased 13% to $1.8M and operating income increased 8% to $155K; real estate segment achieved positive operating income for the 14th consecutive quarter.