Coming off Successful Product Run, Bloody Disgusting Continues to Prove its Value as Top Horror Brand by Tapping into Fan Nostalgia and Retail Partnerships LOS ANGELES, Oct. 7, 2024 /PRNewswire/ -- Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, is riding the momentum of its growing consumer products business into Halloween. Specifically, its fan-first horror brand Bloody Disgusting continues to tap into nostalgia and the love for iconic films, from Beetlejuice to the ...

Fans and Critics Praise Damien Leone's Masterpiece: "A Blood-soaked Triumph!" AUSTIN, Texas, Sept. 23, 2024 /PRNewswire/ -- The highly anticipated Terrifier 3 premiered last week at Fantastic Fest 2024 in Austin, TX, to rapturous early acclaim from critics and fans. Following the shocking reactions to Terrifier 2, which caused some audience members to faint and vomit in theaters, initial buzz suggests Terrifier 3 could push audiences even further. With its unapologetic violence and graphic kills, this third ...

LOS ANGELES, Sept. 19, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, is wrapping the summer by earning industry recognition by Next TV and the Digital Entertainment Group (DEG). The 4th Annual EnTech Awards Taking place on October 1 in Los Angeles, DEG's EnTech Awards are chosen by a distinguished judging panel comprised of a cross-section of leaders representing entertainment technology. Among other factors, the judging panel based its de ...

Ahead of the World Premiere at Fantastic Fest 2024, the highly anticipated Official Trailer and Key Art for TERRIFIER 3 Unveiled; Tickets on Sale Now for October 11 Theatrical Release Trailer Scared up Over 7 Million Views on YouTube in first 24 Hours LOS ANGELES, Aug. 29, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, and Bloody Disgusting, its horror division, have released the official trailer and key art for Terrifier 3 ahead of its wor ...

LOS ANGELES, Aug. 22, 2024 /PRNewswire/ -- Frequency, the engine behind many of the world's bestknown streaming television channels, is proud to announce that Cineverse (NASDAQ:CNVS), a recognized pioneer in the FAST industry, has chosen Frequency to deliver leading channels from its streaming portfolio to more than 25 platforms. This strategic partnership underscores Cineverse's significant growth and evolution in the streaming market by enhancing content delivery methods and viewer engagement across its c ...

Financial Data and Key Metrics Changes - Cineverse reported total revenues of $9.1 million for Q1 2025, down from $13.0 million in the prior year period, primarily due to a decline in digital distribution revenue and the absence of non-recurring revenues from the legacy digital cinema business [9][10][11] - The direct operating margin for the quarter was 51%, exceeding the target of 45% to 50%, attributed to cost optimization initiatives [10][11] - SG&A expenses decreased by $1.3 million or 17% compared to the prior year quarter, reflecting successful cost-saving measures [11][12] Business Line Data and Key Metrics Changes - Digital licensing revenue declined by approximately $2 million due to timing issues with content releases and a comparison to non-recurring revenues from the previous year [5][9] - Advertising revenues also saw a decline of about $500,000 due to channel optimization efforts [9] - The streaming business achieved significant viewer growth, with 2.26 billion minutes watched in Q2 2024, up 73% year-over-year [14][15] Market Data and Key Metrics Changes - The subscriber count for Cineverse stands at approximately 1.39 million, down 3.5% sequentially but up 10% year-over-year, with expectations for growth following the release of Terrifier 3 [15][16] - The podcast network experienced a 49% revenue surge over the last 60 days, indicating strong listener growth [20] Company Strategy and Development Direction - The company is focusing on expanding its distribution of SVOD, AVOD, and fast streaming channels, as well as growing direct ad sales and new revenue drivers like Matchpoint and podcasts [22] - Cineverse is optimistic about the upcoming release of Terrifier 3, which is expected to generate substantial revenue across various business lines [7][16] - The company is also in the final stages of developing cineSearch, an AI-powered content search tool, which is anticipated to enhance user experience and drive growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for double-digit revenue growth in fiscal year 2025, driven by an improving economy and the expected rebound in advertising [10][11] - The company believes it is bouncing off the bottom of revenue and entering a robust growth period, supported by a strong sales pipeline and new initiatives [27] Other Important Information - Cineverse extended its $7.5 million line of credit with East West Bank for another 12 months, enhancing financial flexibility [7][12] - The valuation of the company's digital library increased to approximately $39.8 million, significantly higher than its book value of $2.6 million [8] Q&A Session Summary Question: What caused the drop in digital distribution revenue? - Management indicated that the decline was due to timing issues with content releases and the absence of large licensing deals that occurred in the prior year [24][25][26] Question: What is the outlook for revenue growth excluding digital distribution? - Management noted that new sales teams are ramping up, and there is a robust pipeline of potential revenue, suggesting a positive outlook for future growth [27][28] Question: How much revenue can be expected from top-earning channels? - A successful channel could generate low to mid-seven figures, with unique properties like Dog Whisperer potentially earning on the higher end due to additional rights [28] Question: How does the company plan to navigate the competitive advertising landscape? - Management emphasized a focus on bespoke campaigns and comprehensive packages that include various media types, which differentiates Cineverse from larger competitors [30] Question: What is the expected growth for the podcast segment? - The podcast segment is approaching significant revenue milestones, with substantial upside potential as monetization efforts ramp up [31] Question: Will the guidance include monetization from cineSearch? - The guidance does not currently include monetization from cineSearch, but there are expectations for operational cost savings and revenue growth from various initiatives [33]

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: June 30, 2024 ☐ 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 Cineverse Corp. (Exact name of registrant as specified in its charter) (212) 206-8600 (Registrant's telephone number, including a ...

Revenue Performance - Total revenue for Q1 FY 2025 was $9.1 million, a decrease from $13.0 million in the prior year, primarily due to a $2.4 million reduction in Streaming and Digital revenue[3] - Revenues for Q2 2024 were $9,127,000, a decrease of 29% from $12,980,000 in Q2 2023[19] Operating Expenses - Selling, General, and Administrative (SG&A) expenses decreased by $1.3 million, or 17%, driven by reduced legal, consulting, and compensation costs[4] - Total operating expenses for Q2 2024 were $11,905,000, down 24% from $15,697,000 in Q2 2023[19] - Direct operating expenses decreased by 36% to $4,479,000 in Q2 2024 from $6,987,000 in Q2 2023[19] - Selling, general and administrative expenses decreased by 17% to $6,563,000 in Q2 2024 from $7,888,000 in Q2 2023[19] Profitability and Loss - Net loss attributable to common stockholders was $3.2 million, or $(0.20) earnings per share, an improvement from a net loss of $3.6 million, or $(0.37) earnings per share in the prior year[4] - Net loss for Q2 2024 was $3,050,000, compared to a net loss of $3,536,000 in Q2 2023, representing a 14% improvement[19] - Basic and diluted net loss per share attributable to common stockholders was $(0.20) for Q2 2024, compared to $(0.37) in Q2 2023[19] - Adjusted EBITDA for Q2 2024 was $(1,435,000), slightly improved from $(1,500,000) in Q2 2023[25] Viewership and Content Growth - Total monthly viewership across the channel portfolio increased by 73% year-over-year, supported by successful new channel launches and podcast growth[5][9] - The company experienced a 143% increase in podcast revenue, attributed to the popularity of its Bloody Disgusting podcast content[4] Cash and Financial Position - Cash and cash equivalents stood at $4.0 million as of June 30, 2024, with a line of credit facility extended to September 15, 2025[4][10] Strategic Initiatives - The company has signed its first long-term Matchpoint SaaS deals worth over $250,000 in annual revenue and has a pipeline of more than 20 potential deals[7][11] - The anticipated release of "Terrifier 3" on October 11, 2024, is expected to maximize profits across various distribution channels[9][12] Shareholder Information - Weighted average shares of common stock outstanding increased to 15,702,000 in Q2 2024 from 9,879,000 in Q2 2023[19] Interest and Investment - Interest expense increased to $431,000 in Q2 2024 from $295,000 in Q2 2023[19] - The company reported a loss from investment in Metaverse of $3,000 in Q2 2024, with no prior year comparison available[19] Direct Operating Margin - Direct operating margin improved to 51%, up from 46% in the previous year, exceeding the target range of 45% to 50%[1]

LOS ANGELES, Aug. 7, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, today announced it will release its financial results for the first quarter fiscal year 2025 ended June 30, 2024, after market close on Wednesday, August 14, 2024. Cineverse will host a conference call discussing these results at 4:30 p.m. ET/1:30 p.m. PT that same day. To participate in the live conference call, please use the following dial-in numbers: United States (Loca ...

The Film DEVON Explores Every Parent's Worst Nightmare LOS ANGELES, Aug. 1, 2024 /PRNewswire/ -- No good deed goes unpunished in DEVON, the latest acquisition from distributor and streaming innovator Cineverse (NASDAQ: CNVS). When a group of friends try to uncover the truth behind an unsolved disappearance, they unwittingly find themselves at the center of a terrifying mystery. The film which will premiere exclusively on the Company's streaming service SCREAMBOX is the highly anticipated first feature of Je ...