secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0000950170-24-015288
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse Q3 FY2024: Revenue $13.3M, direct margin 59%, Adj. EBITDA $1.8M
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- Total revenue $13.3M vs $27.9M prior year; net loss $2.9M ($0.22/sh) vs net income $4.9M ($0.55/sh).
- Direct operating margin improved to 59% from 48%; SG&A decreased $2.7M or 30%.
- Subscription revenue +13% to $3.4M; paid subscribers 1.4M (+30% YoY).
- Adjusted EBITDA $1.8M; excluding non-cash Metaverse loss, net income would be $0.2M.
- Secured Terrifier 3 rights for FY2025; expanded credit line to $7.5M; partnership with Google Cloud for cineSearch.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024015288/0000950170-24-015288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024015288/cnvs-20240214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-015288

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer