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 ...

Programming from Cineverse Channels Including Crime Hunters, Dog Whisperer with Cesar Milan, Comedy Dynamics, EntrepreneurTV, the Sid & Marty Krofft Channel and more Now Live on the Global Platform Titles from Cineverse's portfolio of free, ad-supported streaming television (FAST) channels now available via video on Spotify include Dog Whisperer with Cesar Millan, Land of the Lost, Entrepreneur Elevator Pitch, The FBI Files and comedy specials from Jeff Dunham, Jim Gaffigan, Eddie Griffin, Tiffany Hadish, K ...

The Channel Has Seen Tremendous Growth Across Consumption and Engagement Since Its January Launch LOS ANGELES, July 2, 2024 /PRNewswire/ -- Cineverse Corp. (NASDAQ: CNVS), an innovative streaming technology and entertainment company, today announced its inaugural Bark Week on the Dog Whisperer With Cesar Millan free ad-supported streaming television (FAST) channel for the week of July 7 to July 14, 2024. The company also announced that the channel will be available on Pluto TV on July 8 – just in time for B ...

Cineverse Corp. (NASDAQ:CNVS) Q4 2024 Earnings Conference Call July 1, 2024 4:30 PM ET Company Participants Gary Loffredo - Chief Legal Officer, Secretary & Senior Advisor Chris McGurk - Chairman and Chie Executive Officer Mark Lindsey - Chief Financial Officer Erick Opeka - President and Chief Strategy Officer Conference Call Participants Dan Kurnos - The Benchmark Company Operator Good day, everyone. Welcome to Cineverse’s Fourth Quarter Fiscal Year 2024 Financial Results Conference Call. My name is Camer ...