Cineverse (CNVS)

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Cineverse (CNVS) - 2025 Q4 - Annual Results
2025-06-27 13:30
Financial and Operational Highlights [Fourth Quarter and Fiscal Year 2025 Performance Summary](index=1&type=section&id=Fourth%20Quarter%20and%20Fiscal%20Year%202025%20Performance%20Summary) Cineverse reported substantial Q4 and FY2025 growth in revenue, net income, and Adjusted EBITDA, driven by the success of "Terrifier 3" Q4 FY2025 Key Financial Metrics vs. Prior Year Quarter | Metric | Q4 FY2025 | Change vs. Q4 FY2024 | Percentage Change | | :--- | :--- | :--- | :--- | | Total Revenue | $15.6 Million | +$5.7 Million | +58% | | Net Income | $0.9 Million | +$15.5 Million | N/A (Turnaround from loss) | | Adjusted EBITDA | $4.0 Million | +$2.4 Million | +158% | - The strong financial performance is attributed to growth across all key business lines and the significant ancillary revenue contribution from the breakout horror film **"Terrifier 3,"** the biggest unrated film release of all time[2](index=2&type=chunk) - The company is building a slate of wide-release films to replicate the success of "Terrifier 3," including **"The Toxic Avenger," "Silent Night, Deadly Night," "Return to Silent Hill," and "Wolf Creek: Legacy"**[3](index=3&type=chunk) - Cineverse is in a strong financial position with **nearly $14 million in cash-on-hand** and a **zero draw on its $12.5 million line of credit** as of quarter-end[4](index=4&type=chunk) [Fiscal Year 2025 Financial Highlights](index=2&type=section&id=FY%202025%20Financial%20Highlights) For FY2025, consolidated revenue rose 59% to $78.2 million, turning a prior year net loss into a $3.2 million net income Fiscal Year 2025 vs. 2024 Financial Performance | Metric | FY 2025 | FY 2024 | Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | $78.2 million | $49.1 million | +59% | | Net Income (to common stockholders) | $3.2 million | $(21.8) million | +$25.0 million | | Diluted EPS | $0.16 | $(1.78) | +$1.94 | | Adjusted EBITDA | $13.9 million | $4.4 million | +216% | - The direct operating margin for the year was **50%**, which is **within the company's stated target range of 45% to 50%**[7](index=7&type=chunk) - SG&A expenses **decreased as a percentage of revenue from 57% in FY 2024 to 35% in FY 2025**, reflecting successful cost-saving initiatives[7](index=7&type=chunk) [Fourth Quarter 2025 Financial Highlights](index=2&type=section&id=Q4%20FY%202025%20Highlights) Q4 FY2025 revenue grew 58% to $15.6 million, achieving a net income of $0.8 million versus a prior-year $14.8 million loss Q4 FY2025 vs. Q4 FY2024 Financial Performance | Metric | Q4 FY 2025 | Q4 FY 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $15.6 million | $9.9 million | +58% | | Net Income (to common stockholders) | $0.8 million | $(14.8) million | +$15.6 million | | Diluted EPS | $0.04 | $(1.10) | +$1.14 | | Adjusted EBITDA | $4.0 million | $1.6 million | +150% | - The direct operating margin for the quarter was **55%**, **exceeding the company's stated target of 45% to 50%**[9](index=9&type=chunk) - SG&A expenses **decreased by $1.4 million (21%)** year-over-year, and as a percentage of revenue, **dropped from 69% to 35%**[9](index=9&type=chunk) [Financial Condition and Key Business Drivers](index=2&type=section&id=Financial%20Condition%20and%20Key%20Business%20Drivers) The company's strong financial condition is supported by $13.9 million in cash, an undrawn credit line, and key growth from "Terrifier 3" - "Terrifier 3" grossed **over $54.0 million at the domestic box office** and **more than $8.5 million in ancillaries**, achieved with a minimal paid media budget[12](index=12&type=chunk) Revenue Stream Growth (FY2025 vs. FY2024) | Revenue Stream | FY2025 Revenue | YoY Growth | | :--- | :--- | :--- | | Streaming and Digital | $44.4 million | +19% | | Podcast and Other | N/A | +86% | - As of March 31, 2025, the company had **$13.9 million in cash** and **$12.5 million in unused capacity** under its line of credit, which was subsequently expanded and extended[13](index=13&type=chunk) - The company's digital content library of over 71,000 titles was **valued at approximately $40 million** as of March 31, 2024, **significantly above its $2.5 million book value** as of March 31, 2025[16](index=16&type=chunk) [Operational Developments](index=3&type=section&id=Operational%20Developments) Cineverse expanded its film slate, technology offerings, and content partnerships during and after the quarter [During the Quarter](index=3&type=section&id=Operational%20Developments%20During%20the%20Quarter) Key quarterly activities included the "Terrifier 3" premiere, a "Highlander" franchise deal, and new ad-tech partnerships - **Content Premieres & Deals:** "Terrifier 3" premiered on Screambox, a "Highlander" franchise digital rights deal was signed, and a novelization of "Terrifier 3" was announced[16](index=16&type=chunk) - **Partnerships & Growth:** Partnered with The Stand Group to launch the WITZ podcast network, The Trade Desk to optimize ad inventory, and SymphonyAI to accelerate AI capabilities[16](index=16&type=chunk) - **Viewership Growth:** SVOD subscriber base **grew by 17%** after the Amazon Channels launch, Screambox saw a **23% increase in monthly active users**, and FAST/AVOD viewership **rose by 50%** in total minutes streamed[16](index=16&type=chunk) [Subsequent to Quarter-End](index=3&type=section&id=Operational%20Developments%20Subsequent%20to%20Quarter-End) Post-quarter, the company expanded its credit facility, acquired high-profile film rights, and launched its cineSearch tool - **Film Slate Expansion:** Acquired rights for "The Toxic Avenger," "Wolf Creek: Legacy," "Return to Silent Hill," and started production on a reboot of "Silent Night, Deadly Night"[16](index=16&type=chunk)[18](index=18&type=chunk) - **Corporate & Financial:** **Expanded the line of credit facility** with East West Bank to **$15 million** with a three-year term and formed an internal Motion Pictures Group and a Technology Group[15](index=15&type=chunk)[18](index=18&type=chunk) - **Technology & Network Growth:** **Commercially released cineSearch** on Google Cloud Marketplace, and the podcast network was rebranded as the Cineverse Podcast Network, **growing to 74+ series**[18](index=18&type=chunk) [Management Commentary](index=4&type=section&id=Management%20Commentary) Management detailed its strategy to replicate the "Terrifier 3" success, reorganize for growth, and become an AI-native studio - CEO Chris McGurk highlighted the strategy to **replicate the "Terrifier 3" release blueprint**—targeting films with built-in fan bases for strong upside and minimal financial risk[17](index=17&type=chunk) - The company **reorganized senior management to focus on two growth areas**: technology licensing and AI product development under a new CPO, and building a wide-release film slate under a new CMPO[17](index=17&type=chunk)[19](index=19&type=chunk) - President & CSO Erick Opeka stated the company is **evolving into a "platform-first" entity** and aims to become the **first "AI-native entertainment studio,"** using AI across the business[19](index=19&type=chunk) Financial Statements [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet shows total assets of $72.5 million, total liabilities of $34.7 million, and a significant increase in cash to $13.9 million Key Balance Sheet Items (in thousands) | Item | As of March 31, 2025 | As of March 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $13,941 | $5,167 | | Total Current Assets | $38,081 | $32,721 | | Total Assets | $72,516 | $64,378 | | Line of credit, net | $— | $6,301 | | Total Current Liabilities | $34,435 | $31,249 | | Total Liabilities | $34,724 | $32,228 | | Total equity | $37,792 | $32,151 | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported FY2025 revenues of $78.2 million and a net income of $3.8 million, a major turnaround from the prior year's loss Fiscal Year Ended March 31 (in thousands, except per share data) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $78,181 | $49,131 | | Operating income (loss) | $7,924 | $(15,700) | | Net income (loss) | $3,764 | $(21,265) | | Diluted net income (loss) per share | $0.16 | $(1.78) | Three Months Ended March 31 (in thousands, except per share data) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $15,575 | $9,863 | | Operating income (loss) | $2,127 | $(13,995) | | Net income (loss) | $858 | $(14,676) | | Diluted net income (loss) per share | $0.04 | $(1.10) | [Non-GAAP Financial Measures: Adjusted EBITDA](index=9&type=section&id=Non-GAAP%20Financial%20Measures%3A%20Adjusted%20EBITDA) Adjusted EBITDA, a key non-GAAP metric, rose to $13.9 million for FY2025 and $4.0 million for Q4, showing strong core performance - **Adjusted EBITDA** is defined as earnings before interest, taxes, depreciation, amortization, and other certain items, providing a useful metric for fundamental business performance[28](index=28&type=chunk)[29](index=29&type=chunk) Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands) | Period | Net Income (Loss) | Adjusted EBITDA | | :--- | :--- | :--- | | **For the Fiscal Year Ended** | | | | March 31, 2025 | $3,764 | $13,917 | | March 31, 2024 | $(21,265) | $4,398 | | **For the Three Months Ended** | | | | March 31, 2025 | $858 | $4,002 | | March 31, 2024 | $(14,676) | $1,553 | Additional Information [Conference Call Information](index=6&type=section&id=Conference%20Call%20Information) A conference call to discuss financial results is scheduled for June 27, 2025, at 9:00 a.m. ET, with access details provided Conference Call Details | Item | Detail | | :--- | :--- | | Date | Friday, June 27, 2025 | | Time | 9:00 a.m. ET | | US Toll-Free | +1 833 470 1428 | | Access Code | 414024 | [About Cineverse](index=6&type=section&id=About%20Cineverse) Cineverse is a tech-driven entertainment studio distributing over 71,000 titles through its streaming channels and podcast network - Cineverse is a technology-driven entertainment studio that distributes a library of **over 71,000 premium films, series, and podcasts**[21](index=21&type=chunk) - Key properties include numerous streaming channels, a podcast network, and the horror brand **Bloody Disgusting**[21](index=21&type=chunk) [Safe Harbor Statement](index=6&type=section&id=Safe%20Harbor%20Statement) This section cautions that forward-looking statements are subject to risks and are not guarantees of future performance - The document contains **"forward-looking'' statements** as defined by the Private Securities Litigation Reform Act of 1995, which are subject to various risks and are not guarantees of future performance[22](index=22&type=chunk)
Cineverse Reports Fourth Quarter and Fiscal Year 2025 Results
Prnewswire· 2025-06-27 12:00
Core Insights - Cineverse Corp. reported significant financial growth in Q4 FY 2025, with total revenue of $15.6 million, a 58% increase compared to the prior year quarter, and net income of $0.9 million, a $15.5 million increase over the prior year quarter [1][2][11] - The success of the horror film "Terrifier 3" has been a major driver of revenue growth, contributing to both theatrical and ancillary revenues, and establishing itself as the biggest unrated film release of all time [2][3][16] Financial Performance - Full-year consolidated revenue for FY 2025 reached $78.2 million, up from $49.1 million in FY 2024, marking a 59% increase primarily due to "Terrifier 3" and growth in streaming, digital, and podcast businesses [5][7] - Adjusted EBITDA for FY 2025 increased to $13.9 million from $4.4 million in FY 2024, reflecting strong operational performance [7][29] - The company's direct operating margin for FY 2025 was 50%, consistent with its target range of 45% to 50% [6] Operational Developments - Cineverse has a strong financial position with nearly $14 million in cash and no outstanding debt, alongside a $12.5 million line of credit [4][15] - The company has announced a slate of upcoming film releases, including "The Toxic Avenger" and "Silent Night, Deadly Night," which are expected to generate additional revenue [3][16] - The podcast network has expanded significantly, now comprising over 74 series and achieving over 230 million lifetime downloads [18] Market Strategy - Cineverse's unique marketing approach, particularly for "Terrifier 3," has allowed it to achieve high box office results with minimal marketing expenditure, leveraging digital campaigns and owned channels [3][9] - The company is focusing on becoming an AI-native entertainment studio, with plans to integrate AI into various operational processes [16]
Cineverse's Fandor Brings the Heat this Summer with a Lineup of Hot New Titles Including Genre-Blending Time-Travel Adventure, Escape From The 21st Century
Prnewswire· 2025-06-25 13:30
Core Insights - Cineverse and Fandor have announced their Summer programming slate, featuring genre-blending films and festival selections [1][7] - The focus is on bold storytelling that elevates emerging filmmakers alongside established auteurs, aiming for high-impact titles with global appeal [1] Company Overview - Cineverse (Nasdaq: CNVS) is a next-generation entertainment studio that operates a wide range of premium streaming brands, including ad-supported and subscription services [5][8] - The company distributes over 71,000 premium films, series, and podcasts, connecting fans with independent stories and innovative content delivery [8] Upcoming Titles - "Escape From The 21st Century" will be available on June 27, featuring a time-travel adventure with a responsibility to save the world [7] - "Else" will be available on July 8, presenting a romance threatened by a strange epidemic [7] - "A Samurai In Time," available on August 5, is a Japanese indie hit that follows a samurai transported to the present day [7] - "The Box Man," available on August 19, is an adaptation of a Kobo Abe novel exploring identity and societal interactions [7] Current Offerings - Fandor currently streams a variety of films, including "Hundreds of Beavers," "The Accident," and "Human Hibernation," among others [2] - Additional titles set to be released later this year include "The Things You Kill" and "Lesbian Space Princess" [2]
Cineverse to Report Fourth Quarter and Full-Year Fiscal 2025 Financial Results on Friday, June 27, 2025
Prnewswire· 2025-06-23 13:00
Group 1 - Cineverse Corp. will release its financial results for Q4 and full fiscal year 2025 on June 27, 2025, after market close [1] - A conference call to discuss these results will take place at 9 a.m. ET/6 a.m. PT on the same day [1] - The conference call can be accessed via dial-in numbers and a webcast on the company's investor website [1] Group 2 - Cineverse is a next-generation entertainment studio that distributes over 71,000 premium films, series, and podcasts [2] - The company focuses on empowering creators and entertaining fans through innovative technology and storytelling [2] - Cineverse includes properties such as the highest-grossing unrated film in U.S. history and a premier podcast network [2]
Cineverse (CNVS) Earnings Call Presentation
2025-06-22 22:47
INVESTOR PRESENTATION A leading innovator in entertainment technology since 2000 Cineverse (Nasdaq: CNVS) July 2024 FORWARD-LOOKING STATEMENTS Investors are cautioned that certain statements contained in this document, as well as some statements in press releases and some oral statements of Cineverse officials during presentations about Cineverse, along with Cineverse's filings with the Securities and Exchange Commission, including Cineverse's current reports on Form 8-K, quarterly reports on Form 10-Q and ...
Cineverse and Iconic Events Releasing to Make Noise at Theaters with Wide Distribution of Silent Night, Deadly Night and Return to Silent Hill
Prnewswire· 2025-06-18 13:30
Core Insights - Cineverse and Bloody Disgusting announced theatrical distribution for two upcoming horror films: Silent Night, Deadly Night and Return to Silent Hill, targeting fan demand for established franchises [1][4] Group 1: Film Releases - Silent Night, Deadly Night is set to release on December 12, 2025, and is a reboot of the original 1984 film, directed by Mike P. Nelson and featuring Rohan Campbell and Ruby Modine [2][4] - Return to Silent Hill will premiere on January 23, 2026, based on the popular KONAMI video game series, starring Jeremy Irvine and Hannah Emily Anderson, with Christophe Gans returning as director [3][4] Group 2: Production and Financing - Silent Night, Deadly Night is produced by the original film's producers and financed by Bondit Media Capital and Royal Bank of Canada, with international distribution handled by Sixth Dimension [4][6] - Return to Silent Hill is produced by Victor Hadida of Davis Films and financed by Davis Films and Ashland Hill Media Finance [6] Group 3: Strategic Insights - Cineverse aims to leverage proven intellectual properties (IP) as a core part of its theatrical strategy, with both films expected to attract genre fans and new audiences [4] - The release of Return to Silent Hill coincides with the recent success of the Silent Hill 2 game remake, celebrating the 20th anniversary of the franchise [4][5] Group 4: Company Overview - Cineverse is a next-generation entertainment studio that distributes a wide range of content across various platforms, including theatrical, digital, and physical [9] - Bloody Disgusting serves as Cineverse's horror division, providing premium content and merchandise for horror fans [8]
Cineverse Announces Commercial Availability of cineSearch for Business - a Revolutionary, AI-Powered Tool that Solves Search & Discovery for Digital Platforms and Streaming Services
Prnewswire· 2025-06-10 13:30
Core Insights - Cineverse has launched cineSearch for Business, an AI-powered content search and discovery tool aimed at improving user experience on streaming platforms and OEMs [1][3] - The tool is now available for commercial licensing through Google Cloud Marketplace and the company's sales team, enhancing its market reach [1][3] - cineSearch addresses significant issues in the streaming ecosystem, including high subscriber churn due to poor content discovery and lengthy search times [6] Product Features - cineSearch utilizes a proprietary dataset called cineCore, which includes extensive film and television metadata optimized for AI search, enhancing the accuracy of content recommendations [3][10] - The tool offers personalized content suggestions based on various factors, including user mood, viewing history, and content traits, rather than relying solely on keywords [4][6] - Key features include improved sorting algorithms, integration of behavioral data, and a customizable chatbot for user interaction [10][11] Market Impact - The introduction of cineSearch is expected to reduce search time by 90%, improve user retention by 16%, and potentially increase revenue by 24% per month for streaming services [6] - The product is designed to be highly customizable, allowing third-party partners to tailor it to their specific needs, thereby transforming user interactions with streaming services [5][7] - Cineverse aims to leverage its technology to provide cost-effective solutions for both emerging and established media companies facing search and discovery challenges [7][12] Company Background - Cineverse has established the Cineverse Technology Group to focus on scaling technology monetization and accelerating AI-driven innovation in the entertainment sector [8][14] - The company has a history of pioneering technology in the video streaming industry, with its Matchpoint platform serving as a critical infrastructure for content management and distribution [9][14] - Cineverse distributes over 71,000 premium films, series, and podcasts, positioning itself as a next-generation entertainment studio [15]
Cineverse Motion Pictures Group's Escape From The 21st Century Hits Theaters on June 9, Tickets on Sale Now for The Bold, Genre-blending Time-Travel Adventure
Prnewswire· 2025-05-30 13:00
Group 1 - Cineverse has announced the release of the sci-fi film "Escape From The 21st Century," directed by Li Yang, set to premiere in select theaters on June 9, 2025 [1][2] - The film's plot revolves around three friends who can travel 20 years into the past and future with a sneeze, facing the challenge of saving the world from an undesirable future [2] - Cineverse is expanding its content offerings with upcoming releases including "The Toxic Avenger," "Silent Night, Deadly Night," and "Return to Silent Hill," alongside "Escape From The 21st Century" [3] Group 2 - Cineverse is positioned as a next-generation entertainment studio that utilizes technology to enhance content delivery and audience engagement, distributing over 71,000 films, series, and podcasts [4] - The company aims to redefine entertainment experiences through innovative storytelling and proprietary streaming tools, focusing on independent and authentic narratives [4]
Cineverse Accelerates Technology Monetization, Launches Technology Group to Drive AI Innovation and Rapid Commercial Expansion
Prnewswire· 2025-05-19 16:05
Company Overview - Cineverse has announced the formation of the Cineverse Technology Group to enhance technology monetization and accelerate AI-driven innovation in the entertainment industry [1][2] - The company aims to modernize the global entertainment infrastructure and build next-generation AI-powered tools [1] Leadership Changes - Tony Huidor has been promoted to President of Technology and Chief Product Officer, bringing over 30 years of experience in media technology [2][8] - Huidor has played a significant role in the development and scaling of the Matchpoint platform at Cineverse [9] Technology and Product Development - Matchpoint™, Cineverse's media supply chain platform, automates workflows and streamlines content delivery, providing significant cost efficiencies [3][11] - The Technology Group will focus on expanding Matchpoint's commercial licensing partnerships with large media companies seeking operational cost savings [4][5] AI Innovations - Cineverse is developing AI-driven solutions to optimize decision-making, profitability, and operational efficiency across the entertainment lifecycle [7] - Current AI initiatives include content performance forecasting, automated marketing, advanced content valuation, and real-time ad optimization [8] Business Impact - The company has demonstrated its technology's effectiveness by achieving margin expansion and operational efficiencies, leading to higher profitability and faster content delivery [5][6] - Cineverse's mission is to deliver practical technology solutions that drive revenue growth and profitability for both the company and its partners [10] Industry Position - Cineverse is positioned as a pioneer in the video streaming industry, leveraging its technology to redefine entertainment delivery and management [11][12] - The company distributes over 71,000 premium films, series, and podcasts, connecting fans with independent stories [12]
Cineverse Launches Dedicated Motion Pictures Group to Take Advantage of High-Growth Feature Film Business Opportunity
Prnewswire· 2025-05-12 16:05
Core Insights - Cineverse has established the Cineverse Motion Pictures Group to enhance its feature film business initiatives, appointing Yolanda Macias as Chief Motion Pictures Officer to lead this new division [1][3] - The executive leadership team, including Chairman and CEO Chris McGurk and President and Chief Strategy Officer Erick Opeka, has renewed their employment agreements, indicating stability and continuity in leadership [2] - Following the success of "Terrifier 3," which is now the highest-grossing unrated film of all time, Cineverse plans to launch an ambitious slate of theatrical releases, including several franchise expansions and new titles [3] Company Overview - Cineverse is a next-generation entertainment studio that focuses on delivering a wide range of content through innovative technology, distributing over 71,000 films, series, and podcasts [4] - The company aims to connect fans with independent stories and has established a strong presence in the horror genre through platforms like Bloody Disgusting [4] - Cineverse utilizes proprietary streaming tools and AI technology to enhance revenue and audience reach, positioning itself for future growth in the entertainment industry [4]