earnings
confidence high
sentiment positive
materiality 0.80
Cineverse Q2 FY2024: Revenue $13M, EBITDA $2.4M, operating margin 64% vs 42%
Cineverse Corp.
2024-Q2 EPS reported
-$0.37
revenue$25,992,000
- Total revenue $13.0M vs $14.0M prior year; subscription revenue up 52% to $3.5M; paid subscribers up 32% to 1.24M.
- Operating expenses down 34% to $12.4M; SG&A down 29%; net loss narrowed to $(0.4)M from $(5.8)M.
- Adjusted EBITDA increased to $2.4M from loss of $(1.3)M; operating profit positive at $0.6M vs loss of $(4.7)M.
- Cash $8.6M; digital content library appraised at $26-30M vs book value $2.8M; equity $45.9M.
- Launched India offshore unit targeting $8M annual cost savings; expanded Matchpoint PaaS and AI partnerships.