MSG Sports revenue falls 26% to $39.5 million; operating loss widens to $27.4 million
Madison Square Garden Sports Corp. reported fiscal first-quarter 2026 results for the period ended September 30, 2025, with revenue down $13.9 million, or 26%, from the prior year period. The operating loss widened to $27.4 million from $8.3 million, and the net loss was $8.8 million, or $0.37 per share, compared with $0.31 per share a year earlier.
Key points
- Revenue of $39.5 million, down $13.9 million (26%), mainly from lower league distributions of $11.4 million and local media rights fees down $2.3 million
- Operating loss of $27.4 million versus $8.3 million a year earlier; adjusted operating loss of $20.8 million versus $2.3 million
- Net loss of $8.8 million, or $0.37 per share, versus a net loss of $7.5 million, or $0.31 per share, a year earlier
- Combined average season ticket renewal rate for the Knicks and Rangers is approximately 94% for the 2025-26 seasons
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.