8-K
filed December 14, 2023, 6:59 PM ET
ticker CNVS
CIK 0001173204
earnings
confidence high
sentiment positive
materiality 0.75
Cineverse CEO reports 64% operating margin, 283% Adjusted EBITDA surge; plans new channels
Cineverse Corp.
- Operating margin improved to 64% from 42% YoY in last reported quarter.
- Adjusted EBITDA increased 283% ($3.7M) to $2.4M; total operating costs down 34% ($6.3M).
- SG&A reduced 29% ($2.8M) with 30 position cuts; targeting $8M SG&A reduction.
- Plans to launch 6-8 new streaming channels in early 2024, including GoPro, Dog Whisperer, and Sid & Marty Krofft.
- Announced partnership with Amagi for streaming technology; leveraging India engineering for AI tools.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Cineverse Corp. shareholders approved To approve an amendment to the Company's 2017 Equity Incentive Plan to increase the total number of shares of Class A Common Stock available for issuance thereunder. at the 2023-12-08 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-12-08
Exact text from the filing
To approve an amendment to the Company's 2017 Equity Incentive Plan to increase the total number of shares of Class A Common Stock available for issuance thereunder. 3,352,290 1,195,620 63,901 3,027,881
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Cineverse Corp. shareholders approved To ratify the appointment of EisnerAmper LLP as our independent auditors for the fiscal year ending March 31, 2024. at the 2023-12-08 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-12-08
Exact text from the filing
To ratify the appointment of EisnerAmper LLP as our independent auditors for the fiscal year ending March 31, 2024. 7,069,014 529,716 40,962 N/A
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Cineverse Corp. shareholders approved To approve by non-binding vote, executive compensation. at the 2023-12-08 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-12-08
Exact text from the filing
To approve by non-binding vote, executive compensation. 2,845,595 1,739,214 27,002 3,027,881
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Cineverse Corp. shareholders approved To elect four (4) members of the Company's Board of Directors to serve until the 2024 Annual Meeting of Stockholders (or until successors are elected or directors resign or are removed). at the 2023-12-08 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-12-08
Exact text from the filing
At the Annual Meeting of Stockholders of the Company held on December 8, 2023 (the “Annual Meeting”), the stockholders of the Company voted on four proposals.
View on SEC.gov
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