secwatch.observer — SEC 8-K summary
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Issuer:     Cineverse Corp. (CNVS)
CIK:        0001173204
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0000950170-24-097087
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cineverse Q1 revenue falls 30% YoY to $9.1M; net loss improves; library appraised at $39.8M
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- Revenue $9.1M vs $13.0M YoY; digital distribution down $1.9M and legacy cinema $1.2M.
- Net loss $3.2M ($0.20/shr) vs $3.6M ($0.37/shr) YoY; Adj. EBITDA -$1.4M.
- Direct operating margin 51% (target 45-50%); SG&A down 17% ($1.3M savings).
- Digital content library appraised at $39.8M (book $2.6M); repurchased 184K shares.
- Post-quarter: first Matchpoint SaaS deals >$250K annual revenue; Terrifier 3 release Oct 11.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024097087/0000950170-24-097087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173204/000095017024097087/cnvs-20240814.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-097087

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