secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2024-07-01T23:59:59+00:00
Accession:  0000950170-24-079708
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse reports FY2024 revenue $49.1M; Adj EBITDA $4.4M vs $0.1M prior year
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- Revenue $49.1M, down from $68.0M; net loss $21.8M ($1.78/sh) vs $10.1M ($1.13/sh).
- Adjusted EBITDA $4.4M, up $4.3M from prior year; direct operating margin 61% vs 47%.
- SG&A decreased $8.9M; working capital improved to positive $1.5M from negative $7.8M.
- Recorded $14.0M non-cash goodwill impairment; repurchased 184k shares through June 30.
- Terrifier 3 set for October 11, 2024; East West Bank credit line expanded to $7.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024079708/0000950170-24-079708-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024079708/cnvs-20240701.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-079708

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