# Sphere Entertainment Co.: overview

SPHR · NYSE · CIK 1795250 · [Consumer discretionary](/sectors/consumer-discretionary.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/sphr.md) · [Financials](/companies/sphr/financials.md) · [Filings](/companies/sphr/filings.md) · [Insiders](/companies/sphr/insiders.md)

Latest reported revenue: [$313.2m](/filings/0001628280-26-051125.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Jul 30, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001628280-26-051125).

## Last eight quarters

| Line item | Unit | Q1 FY2025 (2024-09-30) | Q4 FY2025 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [227](/filings/0001628280-25-049008.md) | [308](/filings/0001795250-25-000011.md) | [280](/filings/0001628280-26-030740.md) | [282](/filings/0001628280-26-051125.md) | [262](/filings/0001628280-25-049008.md) | [394 d](/filings/0001628280-26-007760.md) | [386](/filings/0001628280-26-030740.md) | [313](/filings/0001628280-26-051125.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(51.8%)](/filings/0001628280-25-049008.md) | [(46.4%)](/filings/0001795250-25-000011.md) | [(28.1%)](/filings/0001628280-26-030740.md) | [(17.8%)](/filings/0001628280-26-051125.md) | [(49.5%)](/filings/0001628280-25-049008.md) | [7.3% d](/filings/0001628280-26-007760.md) | [1.9%](/filings/0001628280-26-030740.md) | [(19.6%)](/filings/0001628280-26-051125.md) |
| Net margin | % | [(46.4%)](/filings/0001628280-25-049008.md) | [(40.9%)](/filings/0001795250-25-000011.md) | [(29.3%)](/filings/0001628280-26-051125.md) | [53.8%](/filings/0001628280-26-051125.md) | [(38.6%)](/filings/0001628280-25-049008.md) | [16.4% d](/filings/0001628280-26-007760.md) | [1.2%](/filings/0001628280-26-051125.md) | [(12.2%)](/filings/0001628280-26-051125.md) |
| Diluted EPS | $ per share | [(2.95)](/filings/0001628280-25-049008.md) | not reported | [(2.27)](/filings/0001628280-26-030740.md) | [3.39](/filings/0001628280-26-051125.md) | [(2.80)](/filings/0001628280-25-049008.md) | not reported | [(0.04)](/filings/0001628280-26-030740.md) | [(1.07)](/filings/0001628280-26-051125.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-06-30) | FY2022 (2022-06-30) | FY2023 (2023-06-30) | FY2024 (2024-06-30) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [790](/filings/0001795250-22-000013.md) | [608](/filings/0001795250-25-000011.md) | [571](/filings/0001628280-26-007760.md) | [1,024](/filings/0001628280-26-007760.md) | [1,218](/filings/0001628280-26-007760.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(23.8%)](/filings/0001795250-22-000013.md) | [(27.3%)](/filings/0001795250-25-000011.md) | [(47.8%)](/filings/0001628280-26-007760.md) | [(33.3%)](/filings/0001628280-26-007760.md) | [(18.8%)](/filings/0001628280-26-007760.md) |
| Net margin | % | [(18.8%)](/filings/0001795250-23-000017.md) | [(32.0%)](/filings/0001795250-25-000011.md) | [88.0%](/filings/0001628280-26-007760.md) | [(19.6%)](/filings/0001628280-26-007760.md) | [2.7%](/filings/0001628280-26-007760.md) |
| Diluted EPS | $ per share | [(4.59)](/filings/0001795250-23-000017.md) | [(5.77)](/filings/0001795250-25-000011.md) | [14.40](/filings/0001628280-26-007760.md) | [(5.68)](/filings/0001628280-26-007760.md) | [0.74](/filings/0001628280-26-007760.md) |
| Free cash flow | $m | [(515)](/filings/0001795250-23-000017.md) | [(615)](/filings/0001795250-25-000011.md) | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/sphr/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $706.0m | 4,080,043 |  | Added +172,102 |
| [Jericho Capital Asset Management L.P.](/funds/1525234.md) | 2026-06-30 | $450.8m | 2,605,615 |  | Unchanged |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $428.2m | 2,474,769 |  | Added +427,781 |
| [ARIEL INVESTMENTS, LLC](/funds/936753.md) | 2026-06-30 | $288.2m | 1,665,326 |  | Reduced −796,983 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $262.2m | 1,515,158 |  | Reduced −26,609 |
| [SANDS CAPITAL MANAGEMENT, LLC](/funds/1020066.md) | 2026-06-30 | $235.0m | 1,358,321 |  | New +1,358,321 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $205.0m | 1,184,648 |  | Reduced −16,112 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $187.2m | 1,081,969 |  | Added +58,315 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $167.7m | 968,991 |  | Added +622,428 |
| [AMERIPRISE FINANCIAL INC](/funds/820027.md) | 2026-06-30 | $156.4m | 904,008 |  | Added +482,680 |

## Recent filings

[All 633 filings](/companies/sphr/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-22 | 16:05 ET | [SCHEDULE 13D/A](/filings/0001104659-26-118147.md) | Ownership report, active investor, amended | 0001104659-26-118147 |
| 2026-08-14 | 16:02 ET | [SCHEDULE 13D/A](/filings/0000807249-26-000069.md) | Ownership report, active investor, amended | 0000807249-26-000069 |
| 2026-07-30 | 16:58 ET | [10-Q](/filings/0001628280-26-051125.md) | Quarterly report, period 2026-06-30 | 0001628280-26-051125 |
| 2026-07-30 | 07:39 ET | [8-K](/filings/0001628280-26-050809.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-050809 |
| 2026-06-12 | 16:15 ET | [8-K](/filings/0001193125-26-269473.md) | 5.07 Shareholder vote results | 0001193125-26-269473 |
| 2026-05-05 | 17:23 ET | [10-Q](/filings/0001628280-26-030740.md) | Quarterly report, period 2026-03-31 | 0001628280-26-030740 |
| 2026-05-05 | 07:33 ET | [8-K](/filings/0001628280-26-030130.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-030130 |
| 2026-04-28 | 16:34 ET | [DEF 14A](/filings/0001628280-26-027969.md) | Proxy statement, period 2026-04-28 | 0001628280-26-027969 |
| 2026-03-09 | 20:14 ET | [SCHEDULE 13D/A](/filings/0001104659-26-025398.md) | Ownership report, active investor, amended | 0001104659-26-025398 |
| 2026-02-27 | 21:51 ET | [SCHEDULE 13D/A](/filings/0001104659-26-021789.md) | Ownership report, active investor, amended | 0001104659-26-021789 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001628280-26-007760.md), filed Feb 12, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/8d88618b-8582-41b0-bba3-95a127a272a9)

## About the filer

- CIK: 1795250
- Tickers: SPHR
- Exchange: NYSE
- SIC code: 7900 Services-Amusement & Recreation Services
- State of incorporation: NV
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 16:25 ET. No prices; not investment advice.