Cineverse Corp. reported total revenue of $11.1 million for the first quarter of fiscal year 2026, reflecting a 22% increase over the prior year quarter.
Direct operating margin improved by 6% reaching 57%.
The Company highlighted the success of its recent film releases and its strong financial position with nearly $10.9 million in cash-on-hand.
Revenue Growth
Total revenue increased by 22% compared to the previous year quarter, driven by gains in streaming, digital distribution, and theatrical sales.
SG&A Expenses
SG&A expenses rose by $2.4 million, mainly due to increased compensation, marketing, and legal costs related to expanding the theatrical slate.
Net Loss
The net loss attributable to common stockholders was $3.6 million, compared to $3.2 million in the prior-year quarter.
Adjusted EBITDA
Adjusted EBITDA was $(2.1) million, a decrease from $(1.4) million in the same quarter last year.
Cash Position
As of June 30, 2025, the company had $2.0 million in cash and $8.9 million available under a credit facility.
- The revenue growth was driven by streaming and digital distribution, showcasing the effectiveness of the Company's content strategy.
- Increased SG&A expenses indicate a proactive approach to expanding the theatrical slate and enhancing business development.
- Despite a slight increase in net loss, the Company remains optimistic about its profitability and investment in new film releases.
Cineverse Corp. demonstrates solid revenue growth and strategic investments in content production and business expansion. The success of recent film releases and the positive financial position set a promising outlook for future profitability and market competitiveness.