National CineMedia, Inc. (Nasdaq:NCMI) operates a cinema advertising network in North America. They engage in the sale of advertising to national, regional, and local businesses through Noovie. It is a fully integrated suite of products designed to innovate and help brands tap into the patron’s moviegoing experience.
Comps: Direct Digital Holdings, Inc. (DRCT), Dolphin Entertainment, Inc. (DLPN)
To put this comparison in scope, all three businesses are advertising agencies, mostly entertainment-oriented, with a market capitalization under USD 40 million. With that being said, National CineMedia operated with a higher run rate than either one of these agencies. Moreover, they outperformed Dolphin Entertainment in earnings per share and revenue growth year-over-year.