Mon, Jun 30, 9:28 PM (13 days ago)
Cineverse Corp. (CNVS) reported a net income attributable to common stockholders of $3.2 million for the fiscal year ended March 31, 2025. The company had positive working capital of $3.6 million and generated $17.4 million in net cash from operations. Cineverse's revenue increased by $29.1 million, with significant contributions from streaming and digital revenue, base distribution revenue, and podcast and other revenue. The company's direct operating margin declined from 61% to 50% due to non-recurring revenue and theatrical revenues related to "Terrifier 3." Selling, general, and administrative expenses decreased by $0.2 million. Cineverse recognized no goodwill impairment for the year ended March 31, 2025, but had recognized $14.0 million in goodwill impairment for the year ended March 31, 2024. The company's financial condition is supported by a $12.5 million Line of Credit Facility with East West Bank, which matures on April 8, 2028. Cineverse's strategic outlook includes content acquisition, technology and distribution expansion, audience growth, and financial performance improvement. The company faces risks related to market downturns, competition, integration of acquisitions, and debt obligations. Cineverse's market position is strengthened by its extensive channel portfolio and strategic partnerships.