secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0000950170-23-063787
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse Q2 FY2024: Revenue $13M, EBITDA $2.4M, operating margin 64% vs 42%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017023063787/0000950170-23-063787-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017023063787/cnvs-20231114.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-063787

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