Cinedigm Corp. (CIDM) Q1 2023 Earnings Conference Call August 16, 2022 12:00 PM ET Company Participants Laura Kiernan - IR, High Touch IR Chris McGurk - Chairman & CEO John Canning - CFO Erick Opeka - Chief Strategy Officer & President, Cinedigm Networks Conference Call Participants Daniel Kurnos - The Benchmark Company Brian Kinstlinger - Alliance Gobal Partners Scott Buck - H.C. Wainwright Leo Carpio - Joseph Gunnar Operator Good day, ladies and gentlemen. Today, we are hosting a Conference Call to discus ...

PART I - FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) Cinedigm reported a $6.0 million net loss for Q2 2022, reversing prior-year net income due to decreased revenue and increased operating expenses [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $94.2 million as of June 30, 2022, primarily due to reduced cash and receivables, with total equity falling to $36.0 million Condensed Consolidated Balance Sheets (in thousands) | Balance Sheet Items | June 30, 2022 | March 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $11,519 | $13,062 | | Accounts receivable, net | $25,215 | $30,843 | | Total current assets | $44,081 | $52,163 | | Total assets | $94,223 | $104,636 | | **Liabilities & Equity** | | | | Total current liabilities | $51,651 | $56,992 | | Total liabilities | $58,232 | $63,686 | | Total equity | $35,991 | $40,950 | | Total liabilities and equity | $94,223 | $104,636 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 revenues decreased 9.5% to $13.6 million, resulting in a $4.6 million operating loss and a $6.1 million net loss, reversing prior-year profitability Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | | :--- | :--- | :--- | | Revenues | $13,590 | $15,015 | | Total operating expenses | $18,174 | $12,241 | | Income (loss) from operations | $(4,584) | $2,774 | | Net income (loss) | $(5,987) | $5,194 | | Net income (loss) attributable to common stockholders | $(6,093) | $5,098 | | Net income (loss) per Class A common stock - basic | $(0.03) | $0.03 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company used $1.2 million in cash from operations for Q2 2022, reversing prior-year positive cash flow, resulting in a $1.5 million overall cash decrease Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(1,198) | $3,621 | | Net cash used in investing activities | $(61) | $(791) | | Net cash used in financing activities | $(284) | $(6,324) | | Net change in cash | $(1,543) | $(3,494) | | Cash at end of period | $11,519 | $14,355 | [Notes to the Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail two operating segments, revaluation of A Metaverse Company equity, revenue disaggregation showing CEG growth, and significant customer concentration - The company operates in two primary segments: Cinema Equipment Business and Content & Entertainment Business (CEG)[25](index=25&type=chunk) - The equity investment in A Metaverse Company was reclassified from Level 1 to Level 3 fair value as of June 30, 2022, after trading of its shares was halted on the Hong Kong Stock Exchange. The valuation is now based on an offer from an independent third party[38](index=38&type=chunk)[52](index=52&type=chunk) Revenue by Business Segment (in thousands) | Segment/Category | Q1 FY2023 (ended June 30, 2022) | Q1 FY2022 (ended June 30, 2021) | | :--- | :--- | :--- | | **Cinema Equipment Business** | **$1,427** | **$6,231** | | Digital System Sales | $1,194 | $5,575 | | **Content & Entertainment Business** | **$12,163** | **$8,784** | | OTT Streaming and Digital | $9,958 | $7,006 | | Physical Revenue | $2,205 | $1,778 | - For the quarter ended June 30, 2022, three customers accounted for a significant portion of consolidated revenues: Amazon.com, Inc. (**19%**), Distribution Solutions (**13%**), and Roku, Inc. (**9%**)[90](index=90&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the transition from legacy Cinema to growing CEG, reporting a 9% revenue decline, net loss, and negative Adjusted EBITDA, affirming sufficient liquidity [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Total revenue decreased 9% to $13.6 million due to a 77% drop in Cinema Equipment, despite 38% CEG growth, alongside significant increases in operating and SG&A expenses Revenue by Segment (in thousands) | Segment | Q1 FY2023 | Q1 FY2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Cinema Equipment Business | $1,427 | $6,231 | $(4,804) | (77)% | | Content & Entertainment Business | $12,163 | $8,784 | $3,379 | 38% | | **Total** | **$13,590** | **$15,015** | **$(1,425)** | **(9)%** | - Direct operating expenses increased by **59%** (**$2.7 million**) YoY, driven by higher license/royalty costs, content production, and SaaS expenses from the DMR acquisition[211](index=211&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **62%** (**$3.7 million**) YoY, primarily due to a **$2.2 million** increase in personnel costs from acquisitions, **$0.7 million** in legal expenses, and **$0.5 million** in professional consulting services[212](index=212&type=chunk) [Adjusted EBITDA](index=38&type=section&id=Adjusted%20EBITDA) Consolidated Adjusted EBITDA was a $2.2 million loss, a $7.7 million decrease year-over-year, attributed to lower system sales and higher operating expenses Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net income (loss) | $(5,987) | $5,194 | | Adjustments | $3,750 | $285 | | **Adjusted EBITDA** | **$(2,237)** | **$5,479** | - Consolidated Adjusted EBITDA decreased by **$7.7 million** year-over-year, primarily due to a decrease in system sales and higher operating expenses in the Content & Entertainment business[223](index=223&type=chunk) [Liquidity and Cash Flow](index=39&type=section&id=Liquidity%20and%20Cash%20Flow) Cash and cash equivalents decreased to $11.5 million, with $1.2 million used in operating activities, though management affirms sufficient liquidity for the next twelve months Quarterly Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(1,198) | $3,621 | | Net cash used in investing activities | $(61) | $(791) | | Net cash used in financing activities | $(284) | $(6,324) | - The company had cash and cash equivalents of **$11.5 million** at June 30, 2022[230](index=230&type=chunk) - Management believes the combination of cash balances and expected cash flow from operations will be sufficient for capital needs for at least the next twelve months[168](index=168&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective due to material weaknesses in financial reporting and insufficient personnel, with remediation efforts actively underway - Management concluded that the Company's disclosure controls and procedures were **not effective** as of June 30, 2022[243](index=243&type=chunk) - Material weaknesses were identified in internal controls related to the financial close and reporting process and an insufficient complement of personnel with appropriate accounting and controls knowledge[244](index=244&type=chunk) - Remediation efforts are underway, including the hiring of a new Chief Financial Officer and a new Executive Vice-President of Accounting, restructuring processes, and engaging external advisors[246](index=246&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - None[252](index=252&type=chunk) [Item 1A. Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported from the prior Annual Report on Form 10-K - There have been no material changes to the Risk Factors disclosed in the Annual Report on Form 10-K for the fiscal year ended March 31, 2022[253](index=253&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists exhibits including officer certifications and Inline XBRL financial data files - The report includes officer certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as well as Inline XBRL instance and taxonomy documents[260](index=260&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: March 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-31810 Cinedigm Corp. (Exact name of registrant as specified in its charter) | --- | --- | |----------------------------------------------------------------------------|----------------- ...

Cinedigm Corp. (CIDM) Q4 2022 Earnings Conference Call June 28, 2022 12:00 PM ET Company Participants Laura Kiernan - IR, High Touch Investor Relations Chris McGurk - Chairman and CEO John Canning - CFO Erick Opeka - Chief Strategy Officer and President of Cinedigm Networks Conference Call Participants Daniel Kurnos - The Benchmark Company Brian Kinstlinger - Alliance Gobal Partners Scott Buck - H.C. Wainwright Operator Good day, ladies and gentlemen. Today, we are hosting a Conference Call to discuss Cined ...

Company Overview - Cinedigm delivers curated content through FAST, AVOD, and SVOD channels, leveraging its Matchpoint® platform for content distribution and monetization[3] - The company controls a library of over 46,000 film & TV assets[3] - Cinedigm is focused on enthusiast audiences globally, targeting verticals with loyal fan bases[14] Financial Performance and Growth - Cinedigm's LTM revenues for the period ending December 31, 2021, were $47 million[5, 9] - The company expects to exceed $50 million in consolidated revenues for the full fiscal year ending March 31, 2022, a 60%+ increase vs prior year[22] - Streaming & Digital revenue increased by $12 million, a 78% YOY change[6] - Total streaming viewers reached approximately 33 million[5, 20] Market Positioning and Strategy - The total global streaming market is estimated at over $60 billion[9] - The U S digital advertising spend is increasing to approximately $70 billion[10] - Cinedigm is building competitive advantage by pursuing accretive M&A strategy, having completed and integrated six acquisitions from December 2020 to September 2021[18] - The company is launching Cineverse, a new enthusiast streaming service with global reach[17]

Cinedigm Corp. (CIDM) Q3 2022 Earnings Conference Call February 15, 2022 12:00 PM ET Company Participants Laura Kiernan - Head of Investor Relations Chris McGurk - Chairman and Chief Executive Officer John Canning - Chief Financial Officer Erick Opeka - Chief Strategy Officer and President of Cinedigm Networks Conference Call Participants Daniel Kurnos - The Benchmark Company, LLC Brian Kinstlinger - Alliance Global Partners Scott Buck - H.C. Wainwright & Co, LLC Operator Good day, ladies and gentlemen. Tod ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal period ended: December 31, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-31810 Cinedigm Corp. (Exact name of registrant as specified in its | --- | --- | |-----------------------------------------|------- ...

Company Overview - Cinedigm is transitioning from a digital cinema equipment and physical content distributor to a leading independent streaming entertainment company[5,7] - The company focuses on super-serving global enthusiast fan bases with curated content through SVOD, AVOD, and FAST channels[5] - Cinedigm controls a library of over 40,000 film & TV assets[5] Financial Highlights - The company's streaming & digital business is experiencing high growth, with expected annual revenue growth of over 50%[8] - As of September 30, 2021, the company had $13 million in cash and no debt[12] - Content & Entertainment segment accounted for 90% of revenue[12] Market Positioning and Growth - Cinedigm is positioned in a large and growing streaming market, with a total global market estimated at ~$60 billion[16] - The U S enthusiast market is estimated at $3 billion[16] - The company is capitalizing on the cord-cutting trend and the rise in SVOD & AVOD migration[21] Strategic Initiatives - Cinedigm is executing a roll-up strategy through content-related acquisitions to enable SVOD, AVOD & FAST[29] - The company is expanding its streaming platform technology through the acquisition of FoundationTV, creating a content "Umbrella" streaming service[25] - Cinedigm is establishing key strategic advantages through partnership deals with connected streaming TV, large OEMs, cable companies, and technology platforms[34] Key Metrics and Future Targets - As of September 2021, Cinedigm had 33 million monthly streaming viewers[12] - The company aims to reach $150 million in revenue and 40 million monthly viewers in the next 3 to 5 years[39]

Cinedigm Corp. (CIDM) Q2 2022 Earnings Conference Call November 15, 2021 4:30 PM ET Company Participants Laura Kiernan - High Touch Investor Relations Chris McGurk - Chairman and CEO John Canning - CFO Erick Opeka - Chief Strategy Officer and President, Cinedigm Networks Yolanda Macias - Chief Content Officer Gary Loffredo - Chief Operating Officer, General Counsel and President Tony Huidor - Chief Technology and Product Officer Conference Call Participants Dan Kurnos - The Benchmark Company Laura Martin - ...