10-Q · November 13, 2025
Starz reported Q3 total revenue of $320.9 million, down from $346.9 million in the year-ago quarter, and a widening net loss of $52.6 million (GAAP EPS of $(3.15)). Liquidity signals improved modestly with cash of $37.0…
Earnings analysis · 10-Q
STRZ earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Starz reported Q1 2026 revenue of $306.9 million, a decrease of 7.2% from the prior year, and a diluted EPS loss of $2.54, larger than the expected loss of $0.81. Operating loss increased by 7.4% compared to the…
Read full summary
Starz reported Q1 2026 revenue of $306.9 million, a decrease of 7.2% from the prior year, and a diluted EPS loss of $2.54, larger than the expected loss of $0.81. Operating loss increased by 7.4% compared to the previous year, alongside notable growth in cash flow from operations. The company reiterated its outlook for positive OTT revenue growth despite various challenges.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-2.54
- Segment
- Starz Networks
What stood out
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Revenue Decline
Total revenue fell to $306.9 million, down 7.2% from $330.6 million in the prior year.
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Increased Loss Per Share
Diluted EPS reported at -$2.54, compared to -$3.15 in the previous quarter.
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Operating Cash Flow Improvement
Cash flows from operations improved to $73.2 million from -$63.5 million year over year.
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Significant Debt Levels
Total debt at March 31, 2026 was $625.1 million, reflecting ongoing financial obligations.
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Free Cash Flow Contribution
Q1 2026 free cash flow was reported at $59 million, indicating a healthy cash generation despite losses.
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Strong Programming Content Spend,
Programming amortization increased to $138.3 million, driving content costs upward.
What to watch
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High Operating Loss
Operating loss increased to $152.8 million in Q1 2026, from $142.3 million a year earlier.
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Rising Debt Levels
Outstanding debt increased to $625.1 million, which may impact financial stability.
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Declining OTT Revenues
OTT revenues declined by $14.4 million (6.4%) amidst increased competition and discounting.
Management's outlook
2026 outlook reiterated, including positive OTT revenue growth and anticipated unlevered free cash flow of between $80 million to $120 million.
Earlier filings 4
10-K · June 26, 2025
Starz completed the Separation from Lionsgate on May 6, 2025 and is positioned as a focused premium subscription-video business with 19.60 million North American subscribers (as of March 31, 2025). The company…
10-Q · August 8, 2024
Lionsgate reported quarterly revenue of $834.7 million, down $73.9 million (8.1%) versus $908.6 million a year ago, while operating income turned positive at $18.8 million versus an operating loss of $16.8 million in…
10-K · May 30, 2024
The 10-K describes a strategic separation and repositioning of the Studio Business following the business combination consummated on May 13, 2024 and the launch of Lionsgate Studios (common shares began trading as…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.