Cineverse Q1 FY2024: revenue $13.0M, streaming record $10.5M, net loss narrows to $3.6M

Cineverse Corp.

2024-Q1 EPS reported -$0.37 revenue$12,980,000

Revenue $13.0M (down 4.4% YoY); streaming/digital/podcast revenue record $10.5M, up 5.8%.
Subscription streaming revenue up 44.7% to $3.2M; subscribers 1.21M (+38%).
Operating loss narrowed 40.7% to $2.7M; net loss $(3.6)M or $(0.37)/share vs $(6.1)M.
No long-term debt; cash $12.1M; content library appraised $26-30M vs book value $2.9M.
FY2024 guidance reaffirmed: revenue $62-70M, direct margin 45-50%, adjusted EBITDA $2-4M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Cineverse Corp. reported fiscal first quarter ended June 30, 2023 results: revenue $13.0 million, net income $(3.6) million, or $(0.37) per share, EPS $(0.37) per share.

Period: fiscal first quarter ended June 30, 2023
Revenue: $13.0 million
Net income: $(3.6) million, or $(0.37) per share
EPS: $(0.37) per share
Result: reported results

Exact text from the filing

for the fiscal first quarter ended June 30, 2023 (“Q1 FY 2024”). Q1 FY 2024 Highlights (all comparisons are to the fiscal quarter ended June 30, 2022): • Total revenues were $13.0 million, compared to $13.6 million, primarily due to a planned wind-down of lower-margin streaming channels to focus resources on higher performing channels and improve margins. o

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Source: SEC EDGAR

accession 0000950170-23-042883

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