SPHR at a glance
Sphere Entertainment Co. (SPHR, SEC CIK 1795250) filed its latest 10-K annual report on February 12, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and Form 4 insider filings as recently as September 17, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Sphere Entertainment Co. (SPHR) reported revenue of $1.2 billion (up 19.0% from FY2024) and net income of $33.4 million. Diluted EPS was $0.74.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding Sphere Entertainment Co. (SPHR) shares worth $2.8 billion in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.2B
- +19.0% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 31 funds
- $2.8B · −2 vs prior quarter
- Latest 8-K
- Jul 30, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Development and operation of immersive Sphere entertainment venues leveraging proprietary content and intellectual property
- New international expansion: Franchise and development agreements signed with DCT Abu Dhabi to build Sphere Abu Dhabi, including franchise fees and royalties
- Strategic shift: Increased focus on franchise, joint venture, and managed venue models for global expansion including sale-leaseback and debt financing options
- Quantitative metric: Initiated development for a new venue at National Harbor, Maryland with government and private partners, subject to approvals and incentives
- Noteworthy: First detailed disclosure of multi-tiered agreements (Franchise, Joint Development, Pre-Opening Services) with a major international partner for venue construction and operation
Risk Factors
- Impairment risk for intangible assets from Holoplot acquisition with finite lives requires future cash flow estimates
- Exposure to potential impairment losses if carrying value exceeds undiscounted future cash flows from asset groups
- No mention of specific regulatory, geopolitical, competitive, or financial risks detailed in text
Management Discussion & Analysis
- Unrestricted cash $508M as of Dec 31, 2025, up from $385M on Sept 30, 2025
- Total debt outstanding $830M as of Dec 31, 2025
- Accounts payable $24.6M, accrued expenses $431.5M including $130.1M disputed Sphere construction accruals
- Liquidity sources include cash, operations cash flow, LV Sphere Revolving Credit Facility borrowings
- Management expects substantial future revenue and operating income from Sphere but notes risk of not achieving expected cash flow, potential need for expense cuts or capex deferrals
AI summary of the SPHR 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Forward-looking plans: Sphere Abu Dhabi franchise, National Harbor venue, new immersive content, possible additional debt financing
- Cash and capital priorities: reduce or defer discretionary projects; monitor operational cash burn and financing needs
- Headwinds: MSG Networks subscriber declines, substantial debt, construction costs, inflation, tariffs, geopolitical risks, and economic weakness
AI summary of the SPHR 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q2 fiscal 2026 results for quarter ended June 30, 2026
- Press release issued July 30, 2026, with financial results in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue $313.6M, up 11%; adjusted operating income $50.9M, down 17% amid higher corporate expenses
- Sphere revenue $226.4M, up 29%; adjusted operating income $39.9M, up 60%, driven by The Wizard of Oz
Item 5.07: Submission of Matters to a Vote of Security Holders
- Annual meeting held June 10, 2026; all four Class A director nominees and eleven Class B nominees elected through 2027
- Class B’s 68,667,540 votes for each nominee reinforce Dolan-family control through 10-votes-per-share structure
Item 2.02: Results of Operations and Financial Condition
- Q1 fiscal 2026 results for quarter ended March 31, 2026
- Results announcement dated May 5, 2026
Item EX-99.1: Item EX-99.1
- Q1 revenue $386.4M, up 38%; operating income $7.2M versus $(78.6)M, marking a sharp GAAP turnaround
- Sphere revenue $266.0M, up 69%, with adjusted operating income $74.3M versus $13.1M
AI summaries of SPHR 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SPHR
Don't miss the next SPHR filing
- Alerts as it files. A push when SPHR files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut SPHR, by share count.
- Ask anything. An AI agent that reads every SPHR filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Dolan Ryan Thomas | M | Sep 15, 2026 | 825 | - |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 275 | - |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 321 | - |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 807 | - |
| Dolan Ryan Thomas | F | Sep 15, 2026 | 585 | $144.12 |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 269 | - |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 269 | - |
| Dolan Ryan Thomas | M | Sep 15, 2026 | 275 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $571.2M | $1.0B | $1.2B |
| Operating Income | -$273.0M | -$341.2M | -$229.6M |
| Net Income | $502.8M | -$200.6M | $33.4M |
| Op. Margin | -47.8% | -33.3% | -18.8% |
| Net Margin | 88.0% | -19.6% | 2.7% |
| Balance Sheet | |||
| Total Assets | - | $4.5B | $4.2B |
| Equity | $2.6B | $2.2B | $2.2B |
| ROE | 19.5% | -9.1% | 1.5% |
| Per Share | |||
| EPS | $14.40 | $-5.68 | $0.74 |
| Cash Flow | |||
| Operating CF | $153.6M | -$19.7M | $243.3M |
Source: XBRL data in Sphere Entertainment Co. (SPHR)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SPHR share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $2.78B |
| Q1 2026 | 33 | $1.81B |
| Q4 2025 | 27 | $1.17B |
| Q3 2025 | 28 | $724.0M |
| Q2 2025 | 25 | $490.5M |
| Q1 2025 | 21 | $360.0M |
| Q4 2024 | 18 | $385.2M |
| Q3 2024 | 15 | $269.4M |
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- Citadel Advisors LLC−387.1K
- Mangrove Partners−2.3K
Source: 13F-HR filings on SEC EDGAR (aggregated from 198 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SPHR filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 4 | Sep 17, 2026 | - | - | - |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 29, 2026 | - | - | |
| SC 13G | Apr 7, 2026 | - | - | |
| 4 | Apr 1, 2026 | - | - | - |
| 4 | Mar 17, 2026 | - | - | - |
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SPHR SEC filings: frequently asked questions
Which institutions hold SPHR stock?
As of June 30, 2026, the largest Sphere Entertainment Co. (SPHR) holders among the 13F filers tracked by SignalX were BlackRock ($706.0 million), Morgan Stanley ($428.2 million), Vanguard Portfolio Management LLC ($262.2 million), Vanguard Capital Management LLC ($205.0 million), State Street Corp ($187.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SPHR's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Sphere Entertainment Co. (SPHR) reported revenue of $1.2 billion (up 19.0% from FY2024) and net income of $33.4 million. Diluted EPS was $0.74. The figures come from the XBRL data in the 10-K.
What are the main risks in SPHR's latest 10-K?
In the 10-K filed February 12, 2026, Sphere Entertainment Co. (SPHR) flagged: Impairment risk for intangible assets from Holoplot acquisition with finite lives requires future cash flow estimates. Exposure to potential impairment losses if carrying value exceeds undiscounted future cash flows from asset groups. (AI summary of the Risk Factors section.)
What did SPHR report in its latest 8-K?
Sphere Entertainment Co. (SPHR) filed an 8-K on July 30, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 fiscal 2026 results for quarter ended June 30, 2026.
What are the latest SPHR SEC filings?
Sphere Entertainment Co. (SPHR) filed its latest 10-K annual report on February 12, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on July 30, 2026 and a Form 4 insider filing on September 17, 2026.
What is SPHR's SEC CIK number?
Sphere Entertainment Co. (SPHR)'s SEC Central Index Key (CIK) is 1795250. EDGAR lists every SPHR filing under that number.
Ask anything about SPHR
The research agent reads SPHR's filings, financials, insider trades and 13F holders, then answers with sources.