Net Loss from Continuing Operations Attributable to Shareholders was $46.2 Million or $0.16 Diluted Net Loss Per Share
Adjusted Net Income from Continuing Operations Attributable to Shareholders was $3.9 Million or $0.01 Adjusted Diluted Net Income Per Share
Operating Income was $36.0 Million
Adjusted OIBDA was $85.3 Million
Trailing 12-Month Library Revenue Grew 10% to $1.05 Billion, 5th Record Quarter in a Row
SANTA MONICA, Calif. and VANCOUVER, BC, Feb. 5, 2026 /PRNewswire/ -- Lionsgate Studios Corp. (NYSE:LION) ("Lionsgate") today reported third quarter results for the quarter ended December 31, 2025.
The Company reported third quarter revenue of $724.3 million, operating income of $36.0 million and net loss from continuing operations attributable to shareholders of $46.2 million or $0.16 diluted net loss per share on 290.0 million diluted weighted average common shares outstanding. Adjusted net income from continuing operations attributable to shareholders in the quarter was $3.9 million or $0.01 adjusted diluted net income per share on 293.9 million diluted weighted average common shares outstanding. Adjusted OIBDA was $85.3 million in the quarter.
"I'm pleased to report a quarter that keeps us on track for our fiscal 2026 financial targets and positions us for significant growth in fiscal 2027 and beyond," said Lionsgate CEO Jon Feltheimer. "Our investment in our IP portfolio is achieving its intended results: our film and television pipelines are strong, our library continues to grow, and our extension of franchise properties across multiple platforms continues to increase."
Trailing 12-month (TTM) library revenue increased 10% from the prior-year quarter to a record $1.05 billion, marking the 5th consecutive quarter of record TTM library revenue.
Third Quarter Segment Results
Motion Picture segment revenue of $421.2 million grew by 35% year-over-year driven by the releases of The Housemaid and Now You See Me: Now You Don't. The Housemaid was released on December 19 with 12 days of its domestic box office performance reflected in the quarter and most of its contribution scheduled for the fourth quarter and into fiscal 2027. Segment profit of $58.5 million was impacted by an increase in P&A spend on films released in the quarter.
Television Production segment revenue of $303.1 million and segment profit of $55.7 million declined from the prior year quarter due to the timing of episodic deliveries, partially offset by strength in television library revenue.
Lionsgate senior management will hold its analyst and investor conference call to discuss fiscal 2026 third quarter results today, February 5th, at 5:00 PM ET/2:00 PM PT. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate Investor Relations website. Alternatively, interested parties can join the webcast directly via the following link. A full replay will become available this evening by clicking the same link.
About LionsgateLionsgate (NYSE:LION) is one of the world's leading standalone, pure play content companies. It brings together diversified motion picture and television production and distribution businesses, a world-class portfolio of valuable brands and franchises, a premier talent management and production powerhouse at 3 Arts Entertainment and a more than 20,000-title film and television library, all driven by Lionsgate's bold and entrepreneurial culture.
For further information, investors should contact:Nilay Shah310-255-3651[email protected]
For media inquiries, please contact:Peter D. Wilkes310-255-3726[email protected]
Laurel Pecchia310-255-5114[email protected]
The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including, but not limited to: the substantial investment of capital required to produce and market films and television series; budget overruns; limitations imposed by our credit facility and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; potential adverse reactions or changes to business or employee relationships; weakness in the global economy and financial markets, including a recession, bank failures and general economic uncertainty; wars, terrorism and multiple international conflicts that could cause significant economic disruption and political and social instability; labor disruptions and strikes; the volatility of currency exchange rates; our ability to manage growth; the effects of competition on our future business; the impact of and changes in governmental regulations or the enforcement thereof, tax laws and rates, accounting guidance and similar matters in regions in which we operate or will operate in the future; international, national or local economic, social or political conditions that could adversely affect our business; the effectiveness of our internal controls and our corporate policies and procedures; changes in personnel and availability of qualified personnel; the volatility of the market price and liquidity of our common shares; and the other risk factors set forth in Lionsgate's public filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
Additional Information Available on WebsitesThe information in this press release should be read in conjunction with the financial statements and footnotes contained in Lionsgate's Quarterly Report on Form 10-Q for the quarter ended December 31, 2025, which will be posted on Lionsgate's website at http://investors.lionsgate.com/. Trending schedules containing certain financial information will also be available.
LIONSGATE STUDIOS CORP.CONSOLIDATED BALANCE SHEETS (Unaudited, amounts in millions)
December 31,2025
March 31,2025
ASSETS
Cash and cash equivalents
$ 182.4
$ 212.5
Accounts receivable, net
772.2
585.6
Other current assets
364.9
362.1
Assets of discontinued operations - current
—
75.8
Total current assets
1,319.5
1,236.0
Investment in films and television programs, net
2,223.3
1,994.2
Property and equipment, net
34.4
34.1
Investments
36.3
77.8
Intangible assets, net
27.0
20.8
Goodwill
846.8
808.5
Other noncurrent assets
756.9
827.1
Assets of discontinued operations - noncurrent
—
1,823.6
Total assets
$ 5,244.2
$ 6,822.1
LIABILITIES
Accounts payable
$ 258.6
$ 256.5
Content related payables - current
20.6
35.2
Accrued expenses and other current liabilities
199.6
228.8
Participations and residuals
601.6
642.5
Film related obligations - current
1,214.0
1,617.8
Debt - current
159.0
134.0
Deferred revenue - current
415.3
201.7
Liabilities of discontinued operations - current
—
350.8
Total current liabilities
2,868.7
3,467.3
Debt - noncurrent
1,763.8
1,838.9
Participations and residuals
420.8
409.3
Film related obligations - noncurrent
838.5
365.1
Other noncurrent liabilities
392.1
417.3
Deferred revenue
79.7
169.1
Deferred tax liabilities
12.1
12.9
Liabilities of discontinued operations - noncurrent
—
401.2
Total liabilities
6,375.7
7,081.1
Redeemable noncontrolling interests
113.7
93.7
EQUITY (DEFICIT)
Common shares, no par value, unlimited shares authorized, 290.1 shares issued (March 31, 2025 - nil)
2,474.2
—
Old Lionsgate Class A voting common shares, no par value (March 31, 2025 - 83.7 sharesissued)
—
674.7
Old Lionsgate Class B non-voting common shares, no par value (March 31, 2025 - 156.8 shares issued)
—
2,522.1
Accumulated deficit
(3,803.0)
(3,534.1)
Accumulated other comprehensive income
52.4
72.6
Total Lionsgate Studios Corp. shareholders' equity (deficit)
(1,276.4)
(264.7)
Noncontrolling interests
31.2
(88.0)
Total equity (deficit)
(1,245.2)
(352.7)
Total liabilities, redeemable noncontrolling interests and equity (deficit)
$ 5,244.2
$ 6,822.1
LIONSGATE STUDIOS CORP.CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited, amounts in millions, except per share amounts)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2025
2024
2025
2024
Revenues
$ 724.3
$ 628.2
$ 1,725.3
$ 1,719.1
Expenses
Direct operating
427.3
397.7
1,066.6
1,159.1
Distribution and marketing
153.2
80.2
373.9
308.2
General and administration
94.1
85.7
252.3
269.3
Depreciation and amortization
4.4
4.4
13.2
13.2
Restructuring and other
9.3
32.5
39.8
64.9
Total expenses
688.3
600.5
1,745.8
1,814.7
Operating income (loss)
36.0
27.7
(20.5)
(95.6)
Interest expense
(65.0)
(63.7)
(200.9)
(195.1)
Interest and other income
4.0
3.1
11.8
11.5
Other income (loss), net
(7.6)
10.2
(21.5)
(5.2)
Loss on extinguishment of debt
—
(0.3)
(2.2)
(4.5)
Gain on investments, net
—
—
8.8
—
Equity interests income (loss)
(5.1)
7.6
(8.2)
8.5
Loss from continuing operations before income taxes
(37.7)
(15.4)
(232.7)
(280.4)
Income tax provision
(6.7)
(4.3)
(14.9)
(13.8)
Net loss from continuing operations, net of income taxes
(44.4)
(19.7)
(247.6)
(294.2)
Net income (loss) from discontinued operations, net of income taxes
—
1.2
(16.5)
34.7
Net loss
(44.4)
(18.5)
(264.1)
(259.5)
Net (income) loss attributable to noncontrolling interests
(1.8)
(3.4)
(4.4)
14.8
Net loss attributable to Lionsgate Studios Corp. shareholders
$ (46.2)
$ (21.9)
$ (268.5)
$ (244.7)
Amounts attributable to Lionsgate Studios Corp. shareholders:
Net loss from continuing operations
$ (46.2)
$ (23.1)
$ (252.0)
$ (279.4)
Net income (loss) from discontinued operations, net of tax
—
1.2
(16.5)
34.7
Net loss attributable to Lionsgate Studios Corp. shareholders
$ (46.2)
$ (21.9)
$ (268.5)
$ (244.7)
Per share information attributable to Lionsgate Studios Corp. shareholders:
Basic net loss per common share - continuing operations
$ (0.16)
$ (0.09)
$ (0.89)
$ (1.13)
Basic net income (loss) per common share - discontinued operations
—
—
(0.06)
0.14
Basic net loss per common share
$ (0.16)
$ (0.09)
$ (0.95)
$ (0.99)
Diluted net loss per common share - continuing operations
$ (0.16)
$ (0.09)
$ (0.89)
$ (1.13)
Diluted net income (loss) per common share - discontinued operations
—
—
(0.06)
0.14
Diluted net loss per common share
$ (0.16)
$ (0.09)
$ (0.95)
$ (0.99)
Weighted average number of common shares outstanding:
Basic
290.0
250.2
283.9
248.4
Diluted
290.0
250.2
283.9
248.4
LIONSGATE STUDIOS CORP.CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, amounts in millions)
Three Months Ended
Nine Months Ended
December 31,
December 31,
2025
2024
2025
2024
Operating Activities:
Net loss
$ (44.4)
$ (18.5)
$ (264.1)
$ (259.5)
Less: Net income (loss) from discontinued operations, net of tax
—
1.2
(16.5)
34.7
Net loss from continuing operations, net of tax
(44.4)
(19.7)
(247.6)
(294.2)
Adjustments to reconcile net loss from continuing operations, net of tax to netcash used in operating activities:
Depreciation and amortization
4.4
4.4
13.2
13.2
Amortization of films and television programs
267.1
277.8
679.7
772.1
Amortization of debt financing costs and other non-cash interest
1.4
5.7
7.0
23.3
Non-cash share-based compensation
26.0
14.3
50.9
46.0
Other non-cash items
19.4
(3.0)
50.6
25.5
Content and other impairments
5.0
7.3
14.8
25.8
Loss on extinguishment of debt
—
0.3
2.2
4.5
Equity interests (income) loss
5.1
(7.6)
8.2
(8.5)
Gain on investments, net
—
—
(8.8)
—
Deferred income taxes
0.3
0.4
0.8
11.8
Changes in operating assets and liabilities:
Accounts receivable, net
(72.0)
1.1
44.0
318.5
Investment in films and television programs, net
(351.9)
(403.5)
(932.1)
(1,262.6)
Other assets
6.1
(20.0)
61.3
(26.4)
Accounts payable and accrued liabilities
(24.9)
(41.2)
(100.0)
