National CineMedia, Inc. (NASDAQ:NCMI) Q2 2022 Earnings Conference Call August 8, 2022 5:00 PM ET

Company Participants

Dan Dorenkamp - Finance Director

Tom Lesinski - Chief Executive Officer

Ronnie Ng - Chief Financial Officer

Conference Call Participants

Eric Wold - B. Riley Securities

Jim Goss - Barrington Research

Operator

Good day, and welcome to the National CineMedia, Inc. Q2 2022 Earnings Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Mr. Dan Dorenkamp, Director of Finance. Please, go ahead, sir.

Dan Dorenkamp

Good afternoon. I'm joined today by our CEO, Tom Lesinski; and our CFO, Ronnie Ng. I would like to remind our listeners that this conference call contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.

All statements, including our discussion about the future impacts of COVID-19, other than statements of historical facts communicated during this conference call may constitute forward-looking statements. These forward-looking statements involve risks and uncertainties. Important factors that can cause actual results to differ materially from the company's expectations are disclosed in the risk factors contained in the company's filings with the SEC. All forward-looking statements are expressly qualified in their entirety by such factors.

Further, our discussion today includes some non-GAAP measures. In accordance with Regulation G, we have reconciled these amounts back to the closest GAAP basis measurement. These reconciliations can be found at the end of today's earnings release or on the Investor Relations page of our website at ncm.com.

Now, I'll turn the call over to Tom.

Tom Lesinski

Thank you, Dan, and good afternoon, everyone. Welcome to our second quarter 2022 earnings call. The second quarter was our fifth straight quarter of year-over-year revenue growth, continuing our trajectory of positive momentum. Americans of all demographics have returned to theaters, not only for the action tentpoles, but also for the family, midsized and lower budget films.

In a recent article from variety, “Movie theater analysts believe the attendance surge is a combination of two factors. People are feeling more comfortable returning to the movies and the film is being released are worthy of shelling out hard earned cash to see on the big screen.

Separately, according to a recent Fandango study, 93% of ticket buyers are satisfied with their return to the theaters, and 87% said multiplexes made them feel comfortable being back in a dark and close space. This demonstrates that consumers are once again ready to share the magic of the film on the big screen with others rather than at home on their TV.