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Get filing alertsSTARZ reports Q2 2026 results with OTT revenue growth, raises full-year guidance
Filed August 7, 2026 · Period ending August 7, 2026 · ~1 min read
Key Changes
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high
Q2 2026 revenue $307.9M with operating loss of $175.5M driven by $147.2M contract termination charge; Adjusted OIBDA $59.9M
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
high
OTT revenue grew to $221.3M from $221.1M year-over-year, continuing direct-to-consumer streaming momentum
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
high
Raised 2026 Adjusted OIBDA growth outlook from low-single-digits to mid-single-digits; increased Unlevered Free Cash Flow outlook to mid-to-upper end of $80-120M range
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
medium
Terminated certain live-action films under post pay-one output licensing agreement in April 2026, resulting in $147.2M one-time charge
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
medium
Net debt $565.5M with 2.9x leverage ratio (TTM); $150M revolver remains undrawn; reaffirmed year-end leverage target of ~2.7x
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
Summary
STARZ reported Q2 2026 results showing continued progress in its streaming business and improved full-year outlook. Revenue came in at $307.9 million with OTT revenue growing modestly year-over-year to $221.3 million, demonstrating traction in the company's direct-to-consumer strategy. The quarter's $175.5 million operating loss was driven by a $147.2 million contract termination charge related to exiting certain live-action films under a post pay-one output licensing agreement—a one-time cost excluded from the $59.9 million Adjusted OIBDA figure.
Management raised its 2026 Adjusted OIBDA growth outlook from low-single-digits to mid-single-digits and increased its Unlevered Free Cash Flow guidance to the mid-to-upper end of the $80-120 million range, signaling confidence in the business trajectory. The company maintained a 2.9x leverage ratio with $565.5 million in net debt and full availability on its $150 million revolver, while reaffirming its year-end leverage target of approximately 2.7x. The guidance raise suggests the streaming momentum and cost discipline are offsetting the contract termination impact on a full-year basis.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Starz Entertainment announced Q2 2026 financial results via press release; detailed figures not disclosed in the 8-K body.
Added in current filing · verify on EDGAR →
On August 7, 2026, Starz Entertainment Corp., a corporation organized under the laws of the province of British Columbia, Canada (hereinafter the “Company”), issued a press release announcing its financial results for the quarter ended June 30, 2026.
The company disclosed its financial results for the quarter ended June 30, 2026 through a press release. The 8-K body itself does not contain specific revenue, earnings, or operational metrics; those details are in the attached Exhibit 99.1 press release, which is furnished but not filed.
Event · Exhibit 99.1
STARZ reported Q2 2026 results with positive OTT revenue growth and raised full-year Adjusted OIBDA and free cash flow guidance.
Added in current filing · view on EDGAR →
Revenue: $307.9 million
•Operating loss: $(175.5) million due largely to a non-recurring restructuring charge
•Adjusted OIBDA1: $59.9 million
•Net cash used in operating activities: $(28.2) million
•Unlevered Free Cash Flow1: $(14.7) million
•Equity Free Cash Flow1: $(33.4) million
STARZ reported Q2 2026 revenue of $307.9 million and an operating loss of $175.5 million driven by a non-recurring restructuring charge. Adjusted OIBDA was $59.9 million. The company used $28.2 million in operating cash and generated negative $14.7 million in unlevered free cash flow.
Added in current filing · view on EDGAR →
Total debt: $625.1 million, including a $300.0 million Term Loan A credit facility and $325.1 million in senior unsecured notes
•Net debt1: $565.5 million
•Adjusted OIBDA Leverage Ratio3: 2.9x (trailing twelve months)
•The Company’s $150.0 million revolving credit facility remained fully undrawn
As of June 30, 2026, STARZ had total debt of $625.1 million and net debt of $565.5 million, with an Adjusted OIBDA leverage ratio of 2.9x on a trailing twelve-month basis. The company maintained full availability on its $150 million revolving credit facility.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 10, 2026 · How we verify