Cineverse Corp.

Listed Company

CNVSCIK 0001173204NasdaqNon-AcceleratedSmaller ReportingServices-Video Tape RentalDelawareFY ends Mar 31

Period

FY 2025

Revenue

$78.18M

Net Income

$3.76M

Total Assets

$72.52M

Equity

$38.75M

Shares Out

19.57M

Op. Cash Flow

$17.40M

Business

Cineverse Corp. is a streaming technology and entertainment company that operates and distributes digital content and enthusiast-focused streaming channels. It offers owned and operated OTT channels, full-service aggregation and distribution of film and television programs, and a proprietary SaaS streaming platform (Matchpoint) providing AVOD, SVOD, TVOD and linear FAST capabilities, plus social video and audio podcast services. Key business segments include channel portfolio operations, content distribution, and technology platform services. The company distributes content direct-to-consumer, through major app platforms and third-party distributors across global OTT and connected-TV channels and physical media.

Summary from filing dated 2025-06-30

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Revenues	78	49	68	56	31
Direct operating	39	19	36	21	—
Selling, general and administrative	28	28	37	30	22
Depreciation and amortization	4	4	4	—	—
Goodwill impairment	0	14	0	—	—
Total operating expenses	70	65	77	57	45
Operating income (loss)	8	−16	−9	−925,000	−13
Interest expense	−4	−1	−1	−356,000	−4
Gain (loss) from equity investment in Metaverse	176,000	−4	−2	585,000	−44
Other expenses, net	135,000	−190,000	−13,000	1,000	−681,000
Net income (loss) before income taxes	4	−21	−10	1	−63
Income tax expense	−106,000	−10,000	−119,000	788,000	315,000
Net income (loss)	4	−21	−10	2	−63
Net income attributable to noncontrolling interest	−162,000	−142,000	−39,000	−59,000	85,000
Net income (loss) attributable to controlling interests	4	−21	−10	2	−63
Preferred stock dividends	−356,000	−350,000	−351,000	−442,000	−356,000
Net income (loss) attributable to common stockholders	3	−22	−10	2	−63
Net income (loss) per share attributable to common stockholders - basic: (in Dollars per share)	0.18	−1.78	−1.13	0.21	−0.49
Net income (loss) per share attributable to common stockholders - diluted: (in Dollars per share)	0.16	−1.78	−1.13	0.2	−0.49
Weighted average shares of common stock outstanding: basic (in Shares)	16	12	9	9	128
Weighted average shares of common stock outstanding: diluted (in Shares)	18	12	9	9	128

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Cash and cash equivalents	14	5	7	13	17
Accounts receivable, net of allowance for credit losses of $307 and $269, respectively	16	15	21	31	21
Employee retention tax credit	79,000	2	2	—	—
Content advances, net of allowance $4,818 and $6,260 respectively	7	9	4	—	—
Other current assets	2	1	2	—	—
Total current assets	38	33	38	52	43
Property and equipment, net	3	2	2	2	4
Intangible assets, net	18	18	20	20	10
Goodwill	7	7	21	21	9
Content advances, net of current portion	4	3	1	—	—
Other long-term assets, net	3	2	1	2	3
Total Assets	73	64	88	105	75
Accounts payable and accrued expenses	31	21	35	52	47
Line of credit, net	0	6	5	—	2
Current portion of deferred consideration on purchase of business	3	3	4	3	—
Earnout consideration on purchase of business	0	180,000	1	—	—
Current portion of operating lease liabilities	187,000	401,000	418,000	258,000	87,000
Deferred revenue	200,000	400,000	200,000	200,000	924,000
Total current liabilities	34	31	45	57	57
Deferred consideration on purchase of business, net of current portion	0	457,000	3	6	—
Operating lease liabilities, net of current portion	275,000	462,000	863,000	491,000	13,000
Other long-term liabilities	14,000	59,000	74,000	—	19,000
Total Liabilities	35	32	49	64	60
Commitments and contingencies (see Note 8)	—	—	—	—	—
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 7 shares issued and 7 shares outstanding at March 31, 2025 and March 31, 2024.	4	4	4	4	4
Common Stock, $0.001 par value; Class A Stock: 275,000,000 shares authorized as of March 31, 2025, and March 31, 2024; 16,487,947 and 15,985,620 shares issued, with 15,984,129 and 15,699,135 shares outstanding as of March 31, 2025, and March 31, 2024, respectively.	194,000	194,000	185,000	174,000	164,000
Additional paid-in capital	548	546	531	523	499
Treasury stock, at cost; 503,819 and 288,554 shares as of March 31, 2025 and March 31, 2024, respectively.	−12	−12	−12	−12	−12
Accumulated deficit	−501	−504	−482	−472	−474
Accumulated other comprehensive loss	−305,000	−345,000	−402,000	−163,000	−68,000
Total stockholders' equity of Cineverse Corp.	39	33	40	42	17
Deficit attributable to noncontrolling interest	−960,000	−1	−1	−1	−1
Total equity	38	32	39	41	16
Total Liabilities and Equity	73	64	88	105	75

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Depreciation and amortization	4	4	4	5	7
Amortization of debt issuance costs	468,000	188,000	101,000	—	1
Stock-based compensation	2	1	4	5	3
Interest expense for deferred consideration and earnouts	296,000	−109,000	986,000	—	—
Changes in fair value of and realized (gains) losses from equity investment in Metaverse	−176,000	4	—	—	—
Barter-related non-cash expenses	341,000	341,000	—	—	—
Other	10,000	84,000	130,000	—	—
Accounts receivable	−619,000	8	10	−8	14
Other current and long-term assets	−668,000	−942,000	−3	—	—
Content advances	2	−6	1	—	—
Accounts payable, accrued expenses, and other liabilities	10	−13	−18	4	−30
Capitalized Content	−3	−2	—	—	—
Deferred revenue	−253,000	210,000	30,000	−728,000	−2
Net cash provided by (used in) operating activities	17	−11	−9	5	−20
Expenditures for long-lived assets	−1	−1	—	—	—
Sale of equity investment securities	536,000	538,000	—	11,000	815,000
Net cash used in investing activities	−635,000	−531,000	−1	−12	−2
Proceeds from line of credit	64	44	31	—	—
Payments on line of credit	−70	−43	−26	−2	−13
Payment of deferred consideration	−428,000	−285,000	—	—	—
At-the-market issuance fees	−42,000	0	—	—	—
Proceeds from the issuance of a term loan, net of debt issuance costs	3	0	—	—	—
Repayment of term loan	−3	0	—	—	—
Payment of earnout consideration	−590,000	−291,000	—	—	—
Cost to acquire treasury shares	−215,000	0	—	—	—
Financing fees for line of credit	−209,000	−193,000	−177,000	—	—
Proceeds from common stock warrant exercise	38,000	0	—	—	—
Issuance of Class A common stock, net of issuance costs	0	9	—	12	43
Net cash (used in) provided by financing activities	−8	9	4	3	24
Net change in cash and cash equivalents	9	−2	−6	−5	3
Cash interest paid	995,000	376,000	203,000	780,000	—
Lease liability related payments	423,000	446,000	373,000	83,000	—
Income taxes paid	34,000	55,000	98,000	79,000	—
Issuance of Class A common stock for payment of employee bonuses	0	1	—	—	—
Treasury shares acquired for withholding taxes	0	370,000	5,000	5,000	—
Earnout liability settled in stock	90,000	392,000	238,000	—	—
Bonus liability settled in stock	42,000	0	—	—	—
Deferred consideration settled in stock	0	3	3	—	—
Accrued dividends on preferred stock	89,000	89,000	87,000	87,000	—
Issuance of Class A common stock for payment of accrued preferred stock dividends	356,000	350,000	351,000	354,000	—

Filings

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