NASDAQ: CNVS
Cineverse Corp.CIK 0001173204 · SIC 7841 · Video Tape Rental
Cineverse Corp. (“Cineverse”, “us”, “our”, "we", and “Company” refers to Cineverse Corp. and its subsidiaries unless the context otherwise requires) was incorporated in Delaware on March 31, 2000. About this business →
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Revenues | 30,595 | 11,119 |
| Costs and expenses | ||
| Direct operating | 19,936 | 4,807 |
| Selling, general and administrative | 11,618 | 8,952 |
| Depreciation and amortization | 2,815 | 1,062 |
| Change in fair value of acquisition-related deferred consideration | 2,000 | — |
| Change in fair value of acquisition-related earnout consideration | (650) | — |
| Total operating expenses | 35,719 | 14,821 |
| Operating loss | (5,124) | (3,702) |
| Interest (expense) income | (558) | 278 |
| Other income (expense), net | 11 | (78) |
| Net loss before income taxes | (5,671) | (3,502) |
| Income tax expense | (19) | (14) |
| Net loss | (5,690) | (3,516) |
| Net loss attributable to noncontrolling interest | — | (44) |
| Net loss attributable to controlling interests | (5,690) | (3,560) |
| Preferred stock dividends | (81) | (89) |
| Net loss attributable to common stockholders | (5,771) | (3,649) |
| Net loss per share attributable to common stockholders: | ||
| Basic | (0.28) | (0.21) |
| Diluted | (0.28) | (0.21) |
| Weighted average shares of Common Stock outstanding: | ||
| Basic | 20,671 | 16,992 |
| Diluted | 20,671 | 16,992 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except share and per share data)
| Description | June 30, 2026 (Unaudited) | March 31, 2026 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | 4,319 | 3,387 |
| Accounts receivable, net of allowance for credit losses of $657 and $622, respectively | 43,057 | 38,604 |
| Content advances, net allowance of $5,768 and $5,503, respectively | 6,789 | 7,507 |
| Other current assets | 1,370 | 1,280 |
| Total current assets | 55,535 | 50,778 |
| Property and equipment, net | 4,160 | 3,906 |
| Intangible assets, net | 41,922 | 44,114 |
| Goodwill | 21,293 | 21,218 |
| Content advances, net of current portion | 8,542 | 8,215 |
| Other long-term assets, net | 3,712 | 2,050 |
| Total Assets | 135,164 | 130,281 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable and accrued expenses | 42,948 | 39,351 |
| Line of credit, net | 11,358 | 9,435 |
| Deferred consideration | 15,380 | 13,800 |
| Current portion of earnout consideration | 3,800 | — |
| Current portion of operating lease liabilities | 836 | 298 |
| Deferred revenue | 94 | 125 |
| Total current liabilities | 74,416 | 63,009 |
| Operating lease liabilities, net of current portion | 1,289 | 105 |
| Convertible notes payable, net | 12,583 | 12,545 |
| Earnout consideration, net of current portion | 6,800 | 11,250 |
| Total Liabilities | 95,088 | 86,909 |
| Commitments and contingencies (Note 8) | ||
| Stockholders’ Equity | ||
| Preferred stock, 15,000,000 shares authorized; Series A 10% $0.001 par value per share; 20 shares authorized; 6 and 7 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively | 3,245 | 3,559 |
| Common stock, $0.001 par value; Class A Stock: 275,000,000 shares authorized as of June 30, 2026 and March 31, 2026; 24,247,336 and 21,362,845 shares issued, with 23,417,021 and 20,532,531 shares outstanding as of June 30, 2026 and March 31, 2026, respectively | 516 | 199 |
| Additional paid-in capital | 565,644 | 564,105 |
| Treasury stock, at cost; with 830,315 shares as of June 30, 2026 and March 31, 2026, respectively | (13,158) | (13,158) |
| Accumulated deficit | (515,870) | (510,099) |
| Accumulated other comprehensive loss | (301) | (282) |
| Total stockholders’ equity of Cineverse Corp. | 40,076 | 44,324 |
| Deficit attributable to noncontrolling interest | — | (952) |
| Total stockholders' equity | 40,076 | 43,372 |
| Total Liabilities and Stockholders' Equity | 135,164 | 130,281 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (5,690) | (3,516) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,815 | 1,062 |
| Fair value change in acquisition-related deferred consideration | 2,000 | — |
| Fair value change in earnout consideration | (650) | — |
| Stock-based compensation | 948 | 418 |
| Capitalized content | (495) | (985) |
| Amortization of debt issuance costs | 353 | 75 |
| Allowance for content advances | 265 | (128) |
| Barter transactions | 44 | (268) |
| Interest discount received from lender | — | (375) |
| Other | 36 | 104 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (4,563) | (412) |
| Other current and long-term assets | (1,752) | (123) |
| Accounts payable, accrued expenses, and other liabilities | 5,600 | (10,022) |
| Content advances | 126 | (89) |
| Deferred revenue | (31) | (84) |
| Net cash used in operating activities | (994) | (14,343) |
| Cash flows from investing activities: | ||
| Expenditures for long-lived assets | (272) | (16) |
| Internally developed software capitalization | (154) | (181) |
| Purchase of business | (1,525) | — |
| Net cash used in investing activities | (1,951) | (197) |
| Cash flows from financing activities: | ||
| Proceeds from line of credit | 18,785 | 9,325 |
| Payments on line of credit | (16,862) | (5,697) |
| Proceeds from issuance of common stock from ATM, net of fees | 2,474 | — |
| Payment of deferred consideration | (412) | (95) |
| Cash paid to acquire noncontrolling interest | (89) | — |
| Shares withheld for employee taxes | — | (965) |
| Net cash provided by financing activities | 3,896 | 2,568 |
| Net change in cash and cash equivalents | 951 | (11,972) |
| Effect of exchange rate changes on cash and cash equivalents | (19) | 16 |
| Cash and cash equivalents at beginning of period | 3,387 | 13,941 |
| Cash and cash equivalents at end of period | 4,319 | 1,985 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (In thousands, except share and per share data); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About Cineverse Corp.
Source: Item 1 (Business) from the 10-K filed June 26, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
OVERVIEW
Cineverse Corp. (“Cineverse”, “us”, “our”, "we", and “Company” refers to Cineverse Corp. and its subsidiaries unless the context otherwise requires) was incorporated in Delaware on March 31, 2000.
The Company has a long legacy in using technology to transform the entertainment industry and played a pioneering role in transitioning movie screens from traditional analog film prints to digital distribution. In recent years, Cineverse has transformed itself into a leading technology and independent streaming company.
Cineverse is a premier technology and entertainment company with its core streaming business operating as (i) a portfolio of owned and operated streaming channels with enthusiast fan bases; (ii) a large-scale global aggregator and full-service distributor of feature films and television programs; and (iii) a proprietary technology software-as-a-service platform for over-the-top (“OTT”) app development and content distribution through subscription video-on-demand ("SVOD"), dedicated ad-supported ("AVOD"), ad-supported streaming linear ("FAST") channels, social video streaming services, and audio podcasts. Our streaming channels reach audiences in several distinct ways: direct-to-consumer, through these major application platforms, and through third-party distributors of content on platforms.
The Company’s streaming technology platform, known as Matchpoint™, is a software-based streaming operating platform which provides clients with AVOD, SVOD, transactional video on demand ("TVOD") and linear capabilities, automates the distribution of content, and features a robust data analytics platform. Through the integration of Giant Worldwide, Matchpoint™ has expanded its automated media services ecosystem by adding deep operational expertise in digital delivery fulfillment, Master QC, content localization, and OTT content testing to longstanding studio relationships.
Read full description ↓
The Company’s Connected TV (“CTV”) monetization platform, IndiCue, provides proprietary location-based digital advertising technology solutions that offer advertisers a targetable, measurable, and accountable way to utilize CTV media and data solutions at scale. The Company also provides solutions for media owners, including an advertising platform for DOOH ("Digital Out-of-Home") networks that enables users to manage advertising inventory, optimize sales, and monetize unsold inventory.
We distribute products for major brands such as Hallmark, ITV, Nelvana, ZDF, Konami, NFL and Highlander, as well as leading international and domestic content creators, movie producers, television producers and other short-form digital content producers. We collaborate with producers, major brands and other content owners to market, source, curate and distribute quality content to targeted audiences through (i) existing and emerging digital home entertainment platforms, including but not limited to Apple iTunes, Amazon Prime, Netflix, Hulu, Xbox, Pluto, and Tubi, as well as (ii) physical goods, including DVD and Blu-ray Discs.
Cineverse’s broad portfolio enables the Company to achieve significant market share on key consumer streaming devices and platforms. As its channel portfolio has grown, the Company’s viewership and subscription metrics have grown significantly. The Company has rights to a library of over 66,000 titles, has reached over 130 million streaming viewers, has over 1.5 million SVOD subscribers, and 25 million followers on social media. The Company is well positioned in a changing media and entertainment landscape. As a leading independent distributor, the Company believes the enthusiast segment provides a significant and underserved market opportunity on a global basis. Today, the Company operates channels in numerous specialty sectors, including faith and family, anime, action, horror, sports, Westerns, Asian, stand-up comedy, and other major segments. From time to time, the Company will cease operating or distributing channels that do not find adequate audiences or meet the needs of platforms or audiences. We believe our scaled channel portfolio, our superior capabilities in launching and managing channels at scale, and our strategic partnerships with key content owners and platforms will provide us with a strategic advantage to gain considerable market share in the foreseeable future.
Given our ability to centralize operations and reduce operating costs with our proprietary technology, the Company also pursues accretive mergers and acquisitions ("M&A") opportunities in order to grow profitably and fortify its competitive advantage.
1
As part of its M&A strategy, the Company:
•
explores opportunities for new technology and other revenue channels including e-commerce, podcasts and merchandise; and
•
leverages its proprietary tech platform MatchpointTM, which allows for onboarding multiple acquisitions concurrently.
The Company believes it is positioned to deliver sustained profitable growth in the future by executing on several key areas of focus:
•
Content: Acquiring and distributing high-quality, curated content through SVOD, AVOD and linear FAST channels.
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Audience: Growing viewership and subscription numbers significantly beyond our current base of more than 76 million monthly viewers to potentially hundreds of millions of global viewers across billions of connected devices.
•
Technology and Distribution:
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Expanding streaming content and media services businesses through its Matchpoint™ platform,
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Offering targetable, measurable, and accountable CTV solutions through advertising technology.
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Launching and scaling our portfolio of enthusiast streaming channels.
o
Accelerating the Company’s device and platform reach and further establishing key strategic advantages through expanded partnership deals with connected streaming TV companies including Amazon, Samsung, Roku, YouTube TV and Vizio, as well as large OEMs, cable companies and technology platforms including LG, Sling TV, and others; and
o
Licensing film and TV content to leading players in OTT streaming ecosystem with Amazon, Apple, Netflix and Google.
•
Financial Performance/Metrics:
o
Driving EBITDA through incremental revenue growth from technology product launches such as Matchpoint™, expansion of distribution, improved monetization and partnerships, and continuous efforts on cost mitigation.
Our common stock is listed on the Nasdaq Capital Market, or Nasdaq, under the symbol “CNVS.”
Our Strategy
We believe that our large content library, long-standing relationships with digital platforms, state of the art technologies and years of experience operating and growing streaming audiences will allow us to continue to build a diversified portfolio of services and offerings that generate recurring revenue streams from advertising, subscriptions, merchandising, and services. We believe that our success, market leadership and scale will continue to attract strong brands, media companies, and CTV supply partners.
We believe that we are well positioned to succeed in the streaming, media services and CTV advertising channel business for the following key reasons:
•
More than 15 years of experience as a primary distributor of content to scale third-party OTT platforms such as Netflix, Hulu, Amazon Prime, Tubi, Apple iTunes and more, and nearly seven years of history operating OTT channels with millions of downloads, hundreds of thousands of registered users, and hundreds of millions of discrete data points on our customer’s behavior and preferences;
•
The depth and breadth of our over 66,000 title film and television episode library;
•
Our digital assets and deep, long-standing relationships as launch partners that cover the major digital platforms and devices;
•
Our marketing expertise;
•
Our flexible releasing strategies, which differ from larger entertainment companies that need to protect their legacy businesses;
2
•
Our proprietary streaming technology enables us to operate at scale and at lower operating costs than our competitors; and
•
Our experienced management team.
Intellectual Property
We own certain copyrights, trademarks and Internet domain names in connection with our business. We view these proprietary rights as valuable assets. We maintain registrations, where appropriate, to protect them and monitor them on an ongoing basis.
ENVIRONMENTAL
The nature of our business does not subject us to environmental laws in any material manner.
EMPLOYEES
As of March 31, 2026, we had 300 employees, 291 full-time and 9 part-time, on-leave, or temporary. Of these employees, 159 are in operations, 50 are in sales and marketing, and 91 are in executive, finance, technology and administrative functions. There are 145 employees based in the United States and 155 employees based in India.
AVAILABLE INFORMATION
Our Internet website address is www.cineverse.com. We will make available, free of charge at the “Investor Relations - Financial Information” section of our website, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements and all amendments to those reports and statements filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, as soon as reasonably practicable after such reports are electronically filed with, or furnished to, the SEC.
In addition, the SEC maintains a website that contains reports, proxy and information statements, and other information regarding companies that file electronically with the SEC. This information is available at www.sec.gov.