Quote data as of 7:07 AM ET
Cineverse Corp. operates as a streaming technology and entertainment company. It owns and operates streaming channels, through its proprietary technology platform. The company also delivers curated content through subscription video on demand (SVOD), dedicated ad-supported (AVOD), and ad-supported streaming linear (FAST) channels, as well as social video streaming services and audio podcasts; operates OTT streaming entertainment channels. It entertains consumers worldwide by providing feature film and television programs, enthusiast streaming channels, and technology services. The company was formerly known as Cinedigm Corp. and changed its name to Cineverse Corp. in May 2023. Cineverse Corp. was incorporated in 2000 and is based in New York, New York.
Cineverse reported Q4 revenue of $26.0 million, a 67% increase year-over-year, driven primarily by $11.6 million in revenue from the recently acquired IndiCue and Giant Worldwide entities.
The company posted net income of $1.1 million, or $0.05 per share, and reaffirmed fiscal 2027 guidance targeting $115 million to $120 million in revenue and $10 million to $20 million in Adjusted EBITDA.
Management expects technology platforms to represent over 50% of total revenue going forward and identified approximately $10 million in annualized cost synergies to be realized from the acquisitions.