Reading International Q1 Cinema Revenue Up 14% While Net Loss Widens 71%
RDI•Reading International’s global cinema revenue rose 14% in Q1 2026 to its strongest first-quarter level since 2019, with US revenue up 6% and loyalty memberships increasing 19% in Australia and New Zealand. Net loss widened 71% to $8.1 million, despite an 11% reduction in interest expense.
1. Strong Global Cinema Performance
Reading International’s global cinema revenues climbed 14% in Q1 2026 to reach the best first-quarter level since 2019, with US cinemas delivering a 6% sequential gain and Australian outlets posting their highest Q1 revenues since 2020. Loyalty memberships in Australia and New Zealand rose 19% through expanded rewards programs.
2. Profit and Loss Overview
The company recorded a net loss of $8.1 million, a 71% increase year over year, with basic loss per share rising to $0.36 from $0.21 and adjusted EBITDA swinging to a $0.8 million loss compared with $2.9 million income in Q1 2025.
3. Expense and Debt Reductions
Initiatives to cut general and administrative expenses and reduce overall debt lowered interest expense by 11% this quarter, while negotiations on occupancy costs and strategic asset sales aim to further improve margins.
4. Cash Flow Movements
Cash used in financing activities decreased to $2.3 million from $16.9 million, net cash used in operating activities fell to $2.5 million from $7.7 million, and investing cash use was $0.5 million versus prior-year inflows of $17.9 million, leaving cash and equivalents down by $5 million at quarter end.
