Core Insights - Cineverse Corp. reported total revenue of $11.1 million for Q1 FY 2026, marking a 22% increase compared to the prior year quarter [1][4] - The direct operating margin improved to 57%, reflecting a 6% enhancement over the previous year [1] - The company experienced a net loss of $3.6 million, slightly higher than the net loss of $3.2 million in the prior year quarter [6] Financial Performance - Total revenue increased from $9.1 million in Q1 FY 2025 to $11.1 million in Q1 FY 2026, driven by growth in streaming, digital distribution, theatrical, and physical sales [4][8] - Streaming and digital revenues reached $9.1 million, an 18% improvement from $7.7 million in the prior year [8] - SG&A expenses rose by $2.4 million, or 36%, to $9.0 million, primarily due to increased compensation, marketing, and legal costs [5] Operational Developments - The company continues to expand its film slate, with upcoming releases including "The Toxic Avenger Unrated" and "Air Bud Returns" [2][14] - Total streaming viewers increased approximately 20% year-over-year to 209 million, with total minutes streamed up 38% to over 4.0 billion [13] - Cineverse's digital content library, valued at approximately $40 million, comprises over 71,000 titles [9] Financial Condition - As of June 30, 2025, the company had nearly $10.9 million in cash and access to a $12.5 million line of credit [3][9] - Working capital was reported at ($0.3) million, a decrease from $3.6 million in the prior year [9] - The company’s total assets were valued at $61.5 million, while total liabilities stood at $25.4 million [19][20]
Cineverse Reports First Quarter Fiscal Year 2026 Results