---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-047676"
form_type: "8-K"
ticker: "MSGS"
cik: "0001636519"
company_name: "Madison Square Garden Sports Corp."
filed_at: "2025-10-31T23:59:59+00:00"
generated_at: "2026-05-17T01:07:05.118509+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MSGS Q1 revenue down 26% to $39.5M; operating loss widens to $27.4M

## Summary
- Revenue fell 26% YoY to $39.5M from $53.3M; operating loss of $27.4M vs $8.3M loss a year ago.
- Adjusted operating loss was $20.8M, compared to $2.3M loss in prior-year quarter.
- Combined Knicks/Rangers season ticket renewal rate at ~94% for 2025-26.
- Rangers signed GAME 7 as first-ever jersey patch partner; suites renewals remain strong.
- Rangers kicked off 100th anniversary season with special Centennial jersey launched in September.

## SEC filing metadata
- accession: 0001628280-25-047676
- form_type: 8-K
- ticker: MSGS
- cik: 0001636519
- company_name: Madison Square Garden Sports Corp.
- filed_at: 2025-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636519/000162828025047676/0001628280-25-047676-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636519/000162828025047676/msgs-20251031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-047676
- JSON: https://secwatch.observer/filing/0001628280-25-047676.json
- Plain text: https://secwatch.observer/filing/0001628280-25-047676.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.