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RDI

Reading International, Inc.

RDI

Reading International, Inc. • NASDAQ
$1.29 ▼ -0.77% (-0.01)
Market Cap $45.98 M
52w High $1.87
52w Low $1.17
Dividend Yield 0%
P/E -2.11
Volume 21.17K
Outstanding Shares 35.64M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $52.17M ▼ $4.658M ▼ $-4.157M ▼ -7.968% ▼ $-0.18 ▼ $19.488M ▲
Q2-2025 $60.378M ▲ $8.764M ▲ $-2.667M ▲ -4.417% ▲ $-0.12 ▲ $6.426M ▲
Q1-2025 $40.169M ▼ $8.528M ▲ $-4.752M ▲ -11.83% ▼ $-0.21 ▲ $3.016M ▼
Q4-2024 $58.576M ▼ $8.172M ▼ $-5.816M ▲ -9.929% ▲ $-0.26 ▲ $3.528M ▲
Q3-2024 $60.09M $8.859M $-7.028M -11.696% $-0.31 $3.01M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.09M ▼ $435.186M ▼ $448.198M ▲ $-12.062M ▼
Q2-2025 $9.086M ▲ $438.075M ▼ $446.503M ▼ $-7.683M ▲
Q1-2025 $5.926M ▼ $440.969M ▼ $449.649M ▼ $-8.064M ▼
Q4-2024 $12.361M ▲ $471.011M ▼ $475.801M ▼ $-4.364M ▼
Q3-2024 $10.101M $495.686M $491.08M $5.175M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.306M ▼ $295K ▼ $-484K ▼ $-1.289M ▲ $-1.407M ▼ $930K ▼
Q2-2025 $-2.808M ▲ $1.551M ▲ $19.928M ▲ $-18.03M ▼ $3.611M ▲ $1.169M ▲
Q1-2025 $-4.943M ▲ $-7.702M ▼ $17.878M ▲ $-16.853M ▼ $-6.738M ▼ $-7.955M ▼
Q4-2024 $-5.932M ▲ $7.985M ▲ $-1.028M ▲ $-1.79M ▼ $3.599M ▲ $7.018M ▲
Q3-2024 $-7.139M $1.339M $-2.409M $1.002M $756K $-1.057M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Cinema
Cinema
 $60.00M ▲$50.00M ▼$60.00M ▲$50.00M ▼
Real Estate Revenue
Real Estate Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily from the pandemic low but is still modest, and profitability remains fragile. Gross profits are thin, operating income has stayed in the red for several years, and bottom-line results are mostly losses with only a brief rebound year. Earnings per share have been negative in most recent periods, which suggests the core cinema and related operations are not yet generating consistent, sustainable profits. Overall, this looks like a recovery story that has stalled at roughly break-even to mildly loss-making levels rather than one that has clearly turned the corner on earnings.

Balance Sheet

Balance Sheet The balance sheet is asset-heavy but quite stretched. Total assets have gradually shrunk, debt remains high relative to the size of the business, and reported equity has eroded to a very thin layer recently. Cash on hand is low, which reduces the safety cushion in a cyclical, capital-intensive industry. On the positive side, the company controls meaningful real estate, which provides backing and some flexibility. On the negative side, leverage and the very slim equity base point to heightened financial risk and limited room for large missteps.

Cash Flow

Cash Flow Cash generation from day-to-day operations has hovered around break-even or slightly negative, and free cash flow has been consistently negative. Even though investment spending on property and renovations has not been excessive, it has generally exceeded the cash produced by the business, implying a reliance on borrowing, asset sales, or other external funding to cover the gap. Combined with a small cash balance, this pattern signals tight liquidity and underscores the importance of managing spending and refinancing carefully.

Competitive Edge

Competitive Edge Reading’s competitive strength comes from a focused, differentiated position rather than from sheer scale. It blends cinema operations with ownership of the underlying real estate, which many rivals lease instead. That ownership can lower long-term occupancy costs and gives strategic options to redevelop or sell assets. The Angelika brand and its curated, arthouse and independent film slate attract a niche but loyal audience, while premium formats and upgraded food and beverage offerings help justify higher spending per visitor. However, the company still operates in a structurally challenged industry facing streaming competition, box office volatility, and high fixed costs, so its advantages help but do not remove the broader sector pressures.

Innovation and R&D

Innovation and R&D Innovation is centered on enhancing the customer experience and extracting more value from existing assets rather than on traditional laboratory-style R&D. The company is investing in premium auditoriums with advanced sound and large screens, luxury seating, and stronger food and drink programs, as well as selective, high-impact renovations of key sites. It has also extended the Angelika brand online through a transactional streaming platform, which broadens reach without committing to a full subscription model. These initiatives aim to deepen customer loyalty and increase spending per visit while leveraging its real estate footprint, but they also require capital and careful execution at a time when financial resources are constrained.

Summary

Reading International combines cinemas, curated film brands, and owned real estate into a distinctive but financially stretched model. Operationally, the business has recovered from the worst of the pandemic but has not yet returned to consistent profitability or strong cash generation. The balance sheet is dominated by property and debt, with only a thin equity buffer and limited cash, which raises sensitivity to downturns and refinancing conditions. Strategically, its ownership of key sites, focus on premium experiences, and niche Angelika positioning provide clear differentiation and some underlying asset value. The central questions going forward are whether box office trends and in-theater spending can improve enough to support its renovation plans, whether real estate monetization can continue to relieve balance sheet pressure, and how effectively management can balance growth investments against the need for financial stability in a still-challenging cinema environment.

NEWS

November 25, 2025 · 9:00 AM UTC

Reading Cinemas at Valley Plaza Mall Transformation Revealed

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November 14, 2025 · 9:00 AM UTC

Reading International Reports Third Quarter 2025 Results

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