{"id":813006,"date":"2025-02-13T16:07:38","date_gmt":"2025-02-13T21:07:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cineverse-reports-third-quarter-fiscal-year-2025-results\/"},"modified":"2025-02-13T16:07:38","modified_gmt":"2025-02-13T21:07:38","slug":"cineverse-reports-third-quarter-fiscal-year-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cineverse-reports-third-quarter-fiscal-year-2025-results\/","title":{"rendered":"Cineverse Reports Third Quarter Fiscal Year 2025 Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Total Revenue of $40.7 Million<\/span>, a 207%, or $27.5 Million<\/span>, Increase over Prior Year Quarter
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\n Net Income of $7.2 Million<\/span>, a $9.9 Million<\/span> Increase over Prior Year Quarter\u00a0
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\n Adjusted EBITDA of $10.8 Million<\/span>, a $9.0 Million<\/span> Increase over Prior Year Quarter\u00a0
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\n Total Direct Operating Margin of 48%<\/b>\n <\/p>\n

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\n LOS ANGELES<\/span>
\n <\/span>, Feb. 13, 2025<\/span><\/span> \/PRNewswire\/ — Cineverse Corp. (“Cineverse” or the “Company”) (NASDAQ: CNVS)<\/b>, a global streaming technology and entertainment company, today announced its financial results for its fiscal third quarter ended December 31, 2024<\/span> (“Q3 FY 2025”).\u00a0<\/p>\n

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\n \"Courtesy
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The Company’s financial results for Q3 FY 2025 reflected significant increases in revenue, direct operating margin,\u00a0SG&A expenses and net income when compared to the prior quarter and the prior year quarter primarily driven by the results of Terrifier 3<\/b>, but also reflected solid growth across all of the Company’s key lines of business.<\/p>\n

After debuting at number one in North American theaters on October 11, 2024<\/span>, displacing Joker: Folie a Deux at the top of the box office charts, Cineverse’s low budget horror phenomenon Terrifier 3<\/b> charged on to become the highest-grossing non-rated film ever (topping previous record-holder Renaissance: A Film by Beyonc\u00e9), amassing more than $54 million<\/span> at the box office domestically. Subsequently, Terrifier 3<\/b> has also performed very strongly in the Digital Sales and BluRay\/DVD distribution channels. The film debuts tomorrow, February 14<\/span>, on our Screambox horror streaming channel and we are also considering multiple other pay\/streaming distribution channel options. Terrifier 3<\/b> will also continue to have a major positive financial impact on our fiscal 4th<\/sup> quarter and beyond.<\/p>\n

Based on our ability to achieve outstanding box office results with Terrifier 3<\/b> by utilizing our unique ecosystem of new media assets to spend a fraction of what other studios would have spent to promote and market the movie, we are now rounding out a slate of films that we believe can provide a strong and ongoing source of profits for the Company. We have already announced that we are releasing Silent Night Deadly Night<\/b>, a re-interpretation of the classic controversial horror film, in the next fiscal year’s third quarter and The<\/b>Toxic Avenger<\/b>, produced by major studio Legendary Films (Dune, Godzilla x Kong, etc.), which we are releasing on August 29, 2025<\/span>. We also just announced that we will be releasing Wolf Creek<\/span>: Legacy<\/b>, the third installment of the classic Australian Outback horror\/thriller film in 2026. In addition, based on the results of Terrifier 2<\/b> and Terrifier 3<\/b>, other major studios are now utilizing our new media ecosystem to market their releases, emphasizing the impact our unique and innovative marketing approach has had on the industry.<\/p>\n

The Company is now in an extremely strong financial position with more than $13 million<\/span> in cash-on-hand as of today and no debt, having a zero draw on our current $7.5 million<\/span> line of credit with East West Bank<\/span>. We have multiple alternatives to further expand our credit if necessary and have no plans at this time to issue equity to fund our current operations.<\/p>\n

All of the Company’s lines of business performed strongly this quarter as well, setting the stage for continued strong growth going forward.<\/p>\n

\n Q3 FY 2025 Highlights<\/b>
\n \u00a0(all comparisons are to the prior year fiscal quarter ended December 31, 2023<\/span>, or Q3 FY 2024)<\/i>
\n : <\/b>\n <\/p>\n

Total revenue was $40.7 million<\/span> versus $13.3 million<\/span> in the prior year quarter, a 207% increase primarily driven by the box office performance of our low budget horror phenomenon Terrifier 3<\/b>.<\/p>\n