Q1 2026 Cineverse Corp Earnings Call Transcript
Key Points
- Cineverse Corp (CNVS) reported a strong revenue growth of 22% year-over-year, reaching $11.1 million for the quarter.
- The company achieved a gross margin of 57%, significantly above their guidance of 45% to 50%.
- Streaming minutes increased by 38% year-over-year, with total streaming viewers climbing to 214 million, up 24%.
- Cineverse Corp (CNVS) announced a 50-50 joint venture for MicroCo, aiming to capitalize on the growing microseries market projected to reach $10 billion by 2027.
- The company has no long-term debt and maintains a strong balance sheet with $12 million available on their capital facility.
- Cineverse Corp (CNVS) reported a net loss of $3.5 million and an adjusted EBITDA of negative $2.1 million for the quarter.
- The decline in net income and EBITDA was attributed to increased SG&A expenses due to investments in sales, legal, marketing, and technology.
- Cash and cash equivalents decreased to $2 million, primarily due to content acquisition and royalty payments.
- Advertising performance faced headwinds from open market programmatic, although there are signs of recovery.
- The company is still in the early stages of monetizing its Matchpoint technology, with longer deal cycles for larger studio clients.
Good day, everyone, and thank you for joining us, and welcome to the Cineverse Corp. first-quarter fiscal-year 2026 financial results conference call. My name is [Aiden], and I will be your operator today. (Operator Instructions)
I would now like to turn the call over to Gary Loffredo, Chief Legal Officer, Secretary and Senior Adviser for Cineverse. Please go ahead.
Good afternoon, everyone. Thank you for joining us for the Cineverse fiscal-year 2026 first-quarter financial results conference call. The press release announcing Cineverse's results for the fiscal first quarter ended June 30, 2025, is available at the Investors section of the company's website at www.cineverse.com. A replay of this broadcast will also be made available at the Cineverse website after the conclusion of this call.
Before we begin, I would like to point out that certain statements made on today's call contain forward-looking statements.
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