Home / Going-concern warnings / Sphere Entertainment Co.
Filed 2025-05-08 · Form 10-Q · Accession 0001795250-25-000029 small
Price before filing: $29.78 (2025-05-07 close, split/dividend-adjusted)
Market cap at flag: $1.15B (2025-05-08) · Latest: $3.74B (2026-10-16)
| Window | SPHR | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +28.7% | +6.9% | +21.9% | 2025-06-09 |
| 90 days | +42.7% | +13.1% | +29.6% | 2025-08-06 |
| 180 days | +133.2% | +21.0% | +112.2% | 2025-11-04 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $1.9M (2 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-10 | Charles F. Dolan 2009 Revocable Trust Member of 13(d) Group | Sale | 53,595 | $33.76 | $1.8M | no | Form 4 |
| 2025-03-10 | Charles F. Dolan 2009 Revocable Trust Member of 13(d) Group | Sale | 1,790 | $34.85 | $62K | no | Form 4 |
| 2025-05-08: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-07 to 2025-06-07. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Management's Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources" in this Form 10-Q, while the conditions with respect to the MSG Networks Credit Facilities raise substantial doubt about the Company's ability to continue as a going concern, for the reasons stated under Note 2."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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