SPHR Sphere Entertainment Co.
FY2025 10-K
Sphere Entertainment Co. (SPHR) filed its fiscal year 2025 10-K annual report with the SEC on Feb 12, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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
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
Financial SummaryXBRL
Revenue
$1.2B
Net Income
$33M
Operating Margin
-18.8%
Net Margin
2.7%
ROE
1.5%
Total Assets
$4.2B
EPS (Diluted)
$0.74
Operating Cash Flow
$243M
Source: XBRL data from Sphere Entertainment Co. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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