CNVS
Cineverse Corp.2.2200
-0.0500-2.2%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Synergies exceed FY27 guidance
Q&A unpacked acquisition synergies exceeding FY27 guidance of $115M-$120M revenue and $10M-$20M adjusted EBITDA, with $7.5M cost cuts fully baked in and revenue upsides untapped. IndiCue's customer concentration has improved markedly, its tech ensuring durable recurring revenue amid CTV maturation. Giant unlocks instant studio access, flipping margins from low-30s% to mid-70s% via Matchpoint; one partner alone spends $1M monthly. Free cash flow targets tuck-in buys. Management eyes proving the flywheel before more M&A. Integration speed matters next.
Key Stats
Market Cap
42.51MP/E (TTM)
-Basic EPS (TTM)
-0.08Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
Cineverse revenues plunged 60% y/y to $16.3M in Q3 FY2026 ended December 31, 2025, from $40.7M, as base distribution cratered 86% sans Terrifier 3's $22.8M theatrical hit, yet streaming/digital held 70% mix despite a 19% dip. Operating loss flipped to $(0.7M) from $9.4M profit, with SG&A up 14% on marketing for Toxic Avenger and stock comp; net loss hit common holders at $(1.0M) or $(0.05)/diluted share (anti-dilutive). Cash dwindled to $2.5M amid $23.3M YTD operating burn—partly $7.9M content advances—with $8.3M line of credit draw (8.0%, matures 2028; covenant waiver secured). IndiCue closed February 2026 for $22M (cash/stock mix, earnouts). Customer concentration persists.
8-K
Cineverse buys IndiCue for $22M
Cineverse closed its $22M acquisition of IndiCue, a CTV monetization platform, on February 13, 2026—for $12.8M cash and $9.2M deferred stock. Funded partly by $13M in 9% convertible notes maturing in four years at $2.00/share conversion. Bolsters ad tech stack, yet notes rank junior to existing bank debt.
8-K
Prices $3M stock offering
Cineverse priced a public offering of 1,500,000 Class A shares at $2.00 each for $3.0M gross proceeds, with underwriter The Benchmark Company exercising its full option for 225,000 more shares. Closing set for February 17 nets ~$3.2M after fees. Funds target working capital and content acquisition. Option fully exercised.
8-K
Acquisitions boost FY2027 guidance
Cineverse reported Q3 FY2026 revenue of $16.3 million, down 60% from prior year due to absent theatrical hits, yet lifted direct operating margin to 69% from 48% and delivered $2.4 million Adjusted EBITDA. Post-quarter, it closed Giant and IndiCue acquisitions, adding ~$53 million revenue and ~$10 million Adjusted EBITDA for FY2027. These bolt-ons fuel $115-120 million revenue guidance. Cash stands at $2.5 million.
8-K
Acquires IndiCue for $22M
Cineverse signed a $22M deal on February 12, 2026, to acquire IndiCue, a CTV ad platform, for $12.8M cash at close and $9.2M deferred cash or stock in one year, plus earnouts. It raised $13M in 9% convertible notes maturing in four years to fund the cash portion. Q3 revenue hit $15-17M; net loss $(0.5)-$(1.0)M; Adjusted EBITDA $2-3M. Notes rank junior to existing debt.
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