Streaming revenue of $32.2 million, up 59% year over year and 230% on
a 2-year basis, exceeding Company's 50% long-term annual revenue
growth target
Content and Entertainment gross margin
rises to record 45% in Q4, up 700 basis points year over
year
Company issues revenue, gross margin and
adjusted EBITDA guidance for Fiscal Year 2024
LOS
ANGELES, June 29, 2023 /PRNewswire/ -- Cineverse
Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a
global streaming technology and entertainment company with one of
the world's largest portfolio of streaming channels and content
libraries, today announced its financial results for the fiscal
fourth quarter ("Q4 FY 2023") and full year ("FY 2023") ended
March 31, 2023.
FY 2023 Financial Highlights:
- Full-year consolidated revenue was $68.0
million, an increase of 21.4% from $56.1 million in the prior year.
- Excluding the legacy Cinema Equipment business, revenue from
the Content and Entertainment business was $56.0 million, an increase of 47.7%, from the
prior year.
- Streaming and Digital revenue increased 47.3% to $40.4 million, primarily driven by an expanded
channel portfolio, increased platform distribution, advertising
revenues and paid subscriptions.
- Streaming revenue of $32.2
million, up 58.5% from the prior year and 229.9% from FY
2021, exceeding the Company's previously stated long-term 50%
annual streaming revenue growth target.
- Net loss attributable to common stockholders was $(10.1) million, or $(1.13) per diluted share, compared to net income
attributable to common stockholders of $1.8
million, or $0.20 per diluted
share in the prior year, largely due to the winding down and
subsequent decrease in revenue contributions from the legacy Cinema
Equipment business and increased operating expenses driven in part
by several acquisitions including DMR, Fandor and Bloody
Disgusting
Q4 FY 2023 Financial Highlights:
- Consolidated revenue was $12.5
million, compared to $16.9
million in the prior-year quarter and $27.9 million in Q3 FY 2023, which included
$7.2 million from the legacy Cinema
Equipment business and significantly higher Content and
Entertainment revenue due to seasonality and the initial release of
Terrifier 2.
- Excluding the legacy Cinema Equipment business, revenue from
the Content and Entertainment business was $11.7 million, an increase of 14.5%, from the
prior-year quarter. This compares to $20.7
million in Content and Entertainment revenue in Q3 FY2023,
the seasonally strongest quarter, which included $7.6 million in revenue from the release of
Terrifier 2 in theaters and home entertainment.
- Streaming and Digital revenue increased 18.7% to $7.3 million, primarily driven by increased
contributions from DMR following its acquisition in March 2022 and an 8.1% increase in Base
Distribution revenue due to the theatrical success of Terrifier
2.
- Content and Entertainment gross margin improved to 45% in the
quarter, an improvement of 700 basis points over the prior-year
quarter driven by targeted reductions in operating costs.
- Total operating expenses declined to $15.2 million from $18.4
million in Q4 FY 2022.
- Net loss attributable to common stockholders was $(3.2) million, or $(0.35) per diluted share, compared to net loss
attributable to common stockholders of $(2.6) million, or $(0.30) per diluted share.
FY 2023 Q4 Operational Highlights
- Total streaming minutes in the quarter rose to a record 3.0
billion, up 31% over the prior-year quarter and 73% over the prior
sequential quarter, driven by expansion of programming on
successful channels and realignment of resources to higher
performing streaming channels.
- Total subscribers to the Company's subscription video streaming
services increased to approximately 1.24 million, representing an
increase of 28% over the prior-year quarter.
- Flagship horror streaming service Screambox increased
subscribers by 438% over the prior year quarter, led by an original
programming lineup that included the theatrical hit Terrifier
2.
- Cineverse's total ad-supported streaming audience, including
web, mobile, social and connected television, averaged 72.1 million
monthly viewers during the quarter, down 17.2% over the prior-year
quarter as the Company wound down lower margin
and underperforming streaming assets to focus on those with
greater profitability.
- Signed contracts to add over 22,000 new movies and shows to the
Cineverse streaming service and the Company's portfolio of
streaming channels.
- Announced streaming and channel content partnerships with GoPro
and Cirque du Soleil
- Brought over 3,000 studio films from Sony, Universal,
Paramount, Disney and more to Cineverse for rent or purchase in
partnership with Row8.
- Expanded distribution of Cineverse's FAST streaming channels
with Dish Network's SlingTV and Amazon's FreeVee.
Guidance
The Company has narrowed and refined its
previously announced financial objectives, with an emphasis on
increasing revenue, enhancing gross margins, increasing adjusted
EBITDA from the Content & Entertainment assets, and generating
sustainable, positive free cash flow by the end of FY 2024.
The Company expects consolidated revenues of between
$62.0 million and $70.0 million in FY 2024, with the Content and
Entertainment segment representing 95% or more of total revenue.
This is compared to $68.0 million of
consolidated revenues in FY 2023, with Content and Entertainment
representing 82% of revenues, or $56.0
million.
Gross margin, the excess of revenues over direct operating costs
divided by revenues, is expected to range between 45% to 50% in FY
2024. This compares to gross margin of 47% reported in FY 2023,
which included the legacy Cinema Equipment business. Excluding that
business, gross margin for FY 2023 was 36%.
Adjusted EBITDA is expected to range between $2.0 million and $4.0
million in FY 2024, which compares to Adjusted EBITDA loss
for FY 2023 of $(8.6) million, which
excludes the legacy Cinema Equipment business.
These guidance assumptions are based on, among other factors,
the Company's existing business, current view of existing market
conditions and assumptions for FY 2024.
Management Commentary
Chris
McGurk, Cineverse Chairman and CEO , stated, "Despite
macro-economic headwinds and many industry challenges, Fiscal Year
2023 marked an important turning point for the newly-rebranded
Cineverse. With the successful wind down of our legacy Cinema
Equipment business behind us, Cineverse is now a pure-play content
and streaming company. We grew Streaming and Digital revenues by
47% over the prior year, despite a choppy overall ad market. We
grew subscribers to our streaming services by 28%, driven by the
success of Screambox, which was up 438%. Streaming revenue
increased by 59% for the year and 230% on a two-year basis,
exceeding the Company's 50% per year long term revenue growth
target. At a time when many streamers are rapidly reducing their
offerings and pulling titles, we added over 28,000 titles in the
last two quarters alone. We launched and established our flagship
service Cineverse last September, and in less than half a year, it
has already become a top 10 channel globally in terms of title
count and breadth. In totality, these initiatives, combined with
our world-class content distribution and streaming technology
platform Matchpoint, have established a solid foundation for
growth, scalability and operational leverage to deliver
significantly improved financial performance over the course of
this fiscal year ending March 31,
2024 ('FY 2024'). Over the last few quarters, we have set
the stage to realize sustainable profitability by initiating
headcount reductions and reducing operating costs across the board.
Much of this results from the consolidation and streamlining of the
8 streaming and content companies we acquired over the last 3
years, which added significantly to our channel and content
portfolio but also increased operating costs. We also
reduced our long-term debt burden by more than $40 million over the last 3 years and now only
have a small $5 million line of
credit. We also are pursuing an initiative to further leverage our
successful Cineverse India operation with the creation of Cineverse
Services India, where we plan to consolidate outsourced positions
and many backoffice functions, further reducing costs and improving
workflows and efficiencies. That being said we have provided
guidance for FY 2024 and are focused on meeting the targets we have
set forth for revenue, gross margin and adjusted EBITDA."
Erick Opeka, President and Chief
Strategy Officer of Cineverse, said, "Over the last three years, we
have evolved from two legacy businesses – wholesale distribution
and cinema equipment – into a pure-play streaming business. And
while doing so, we have gained a stellar reputation in the industry
as the go-to platform for rights holders and producers of content
seeking a monetization partner in the streaming sector. As a
result, we are now frequently beating out our studio and technology
peers for high-quality brands and IP that will continue to
accelerate Cineverse's growth. Already in the fiscal year we have
secured the beloved Sid & Marty
Krofft library and the next installment of the hit Terrifier
franchise. Our focus in the new fiscal year will be to continue to
add new, valuable content partners, continue to scale Cineverse,
refine our streaming portfolio with a focus on profitability, and
use the competitive advantage of our technology platform to rapidly
improve margins and EBITDA."
Conference Call
Cineverse will host a conference call
at 4:30 p.m. ET today (Thursday, June 29, 2023), during which management
will discuss the results of the fiscal fourth quarter and year
ended March 31, 2023. To participate
in the conference call, please use the following dial-in
numbers:
U.S. (Toll-Free):
1-844-200-6205
Canada (Toll-Free):
1-833-950-0062
International:
+1-929-526-1599
Access code: 886991
The conference call can also be accessed by webcast at the
Investors section of the Company's website at
https://investor.cineverse.com/events-and-presentations. Those who
are unable to attend the live conference call may access the
recording at the above webcast link, which will be made available
shortly after the conclusion of the call.
About Cineverse
Cineverse is a global streaming
technology and entertainment company with one of the world's
largest portfolios of streaming channels and content libraries, all
powered by its advanced, proprietary technology platform. Cineverse
currently features enthusiast brands for subscription video on
demand (SVOD), advertising-based video on demand (AVOD) and free,
ad-supported streaming television (FAST) channels. Cineverse
entertains consumers around the globe by providing premium feature
film and television series, enthusiast streaming channels and
technology services to some of the world's largest media, retail
and technology companies. For more information, please visit
www.cineverse.com.
Safe Harbor Statement
Investors and readers are
cautioned that certain statements contained in this document, as
well as some statements in periodic press releases and some oral
statements of Cineverse officials during presentations about
Cineverse, along with Cineverse's filings with the Securities and
Exchange Commission, including Cineverse's registration statements,
quarterly reports on Form 10-Q and annual report on Form 10-K, are
"forward-looking'' statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act'').
Forward-looking statements include statements that are predictive
in nature, which depend upon or refer to future events or
conditions, which include words such as "expects," "anticipates,''
"intends,'' "plans,'' "could," "might," "believes,'' "seeks,"
"estimates'' or similar expressions. In addition, any statements
concerning future financial performance (including future revenues,
earnings, or growth rates), ongoing business strategies or
prospects, and possible future actions, which may be provided by
Cineverse's management, are also forward-looking statements as
defined by the Act. Forward-looking statements are based on current
expectations and projections about future events and are subject to
various risks, uncertainties, and assumptions about Cineverse, its
technology, economic and market factors, and the industries in
which Cineverse does business, among other things. These statements
are not guarantees of future performance, and Cineverse undertakes
no specific obligation or intention to update these statements
after the date of this release.
For additional information, please contact:
At Cineverse
Julie Milstead
424-281-5411
investorrelations@cineverse.com
The Equity Group Inc.
Carolyne Sohn
408-538-4577
csohn@equityny.com
CINEVERSE
CORP.
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(In
thousands)
|
|
|
|
As of March
31,
|
|
|
|
2023
|
|
|
2022
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
7,152
|
|
|
$
|
13,062
|
|
Accounts receivable,
net
|
|
|
20,846
|
|
|
|
30,843
|
|
Unbilled
revenue
|
|
|
2,036
|
|
|
|
2,349
|
|
Employee retention tax
credit
|
|
|
2,085
|
|
|
|
—
|
|
Prepaid and other
current assets
|
|
|
5,458
|
|
|
|
5,909
|
|
Total current
assets
|
|
|
37,577
|
|
|
|
52,163
|
|
Equity investment in A
Metaverse Company, a related party, at fair value
|
|
|
5,200
|
|
|
|
7,028
|
|
Property and equipment,
net
|
|
|
1,833
|
|
|
|
1,980
|
|
Intangible assets,
net
|
|
|
19,868
|
|
|
|
20,034
|
|
Goodwill
|
|
|
20,824
|
|
|
|
21,084
|
|
Other long-term
assets
|
|
|
2,686
|
|
|
|
2,347
|
|
Total
assets
|
|
$
|
87,988
|
|
|
$
|
104,636
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Accounts payable and
accrued expenses
|
|
$
|
34,531
|
|
|
$
|
52,025
|
|
Line of credit,
including unamortized debt discount of $76 and $0,
respectively
|
|
|
4,924
|
|
|
|
-
|
|
Current portion of
deferred consideration on purchase of business
|
|
|
3,788
|
|
|
|
3,432
|
|
Current portion of
earnout consideration on purchase of business
|
|
|
1,444
|
|
|
|
1,081
|
|
Operating lease
liabilities
|
|
|
418
|
|
|
|
258
|
|
Current portion of
deferred revenue
|
|
|
226
|
|
|
|
196
|
|
Total current
liabilities
|
|
|
45,331
|
|
|
|
56,992
|
|
Deferred consideration
on purchase – net of current portion
|
|
|
2,647
|
|
|
|
5,600
|
|
Earnout consideration
on purchase – net of current portion
|
|
|
-
|
|
|
|
603
|
|
Operating lease
liabilities, net of current portion
|
|
|
863
|
|
|
|
491
|
|
Other long-term
liabilities
|
|
|
74
|
|
|
|
-
|
|
Total
liabilities
|
|
$
|
48,915
|
|
|
$
|
63,686
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
|
|
|
|
Preferred
stock
|
|
$
|
3,559
|
|
|
$
|
3,559
|
|
Common stock
|
|
|
185
|
|
|
|
174
|
|
Additional paid-in
capital
|
|
|
530,998
|
|
|
|
522,601
|
|
Treasury stock, at
cost
|
|
|
(11,608)
|
|
|
|
(11,608)
|
|
Accumulated
deficit
|
|
|
(482,395)
|
|
|
|
(472,310)
|
|
Accumulated other
comprehensive loss
|
|
|
(402)
|
|
|
|
(163)
|
|
Total stockholders'
equity of Cineverse Corp.
|
|
|
40,337
|
|
|
|
42,253
|
|
Deficit attributable to
noncontrolling interest
|
|
|
(1,264)
|
|
|
|
(1,303)
|
|
Total equity
|
|
|
39,073
|
|
|
|
40,950
|
|
Total liabilities
and equity
|
|
$
|
87,988
|
|
|
$
|
104,636
|
|
CINEVERSE
CORP.
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(In thousands, except
for per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited)
For the Three
Months
Ended March 31,
|
|
|
For the Fiscal
Year
Ended March 31,
|
|
|
|
2023
|
|
|
2022
|
|
|
2023
|
|
|
2022
|
|
Revenues
|
|
$
|
12,548
|
|
|
$
|
16,852
|
|
|
$
|
68,026
|
|
|
$
|
56,054
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
Direct
operating
|
|
|
6,505
|
|
|
|
6,471
|
|
|
|
36,364
|
|
|
|
20,894
|
|
Selling, general and
administrative
|
|
|
7,803
|
|
|
|
9,031
|
|
|
|
36,819
|
|
|
|
29,551
|
|
Depreciation and
amortization
|
|
|
855
|
|
|
|
903
|
|
|
|
3,763
|
|
|
|
4,566
|
|
Impairment of
intangible assets
|
|
|
-
|
|
|
|
1,968
|
|
|
|
-
|
|
|
|
1,968
|
|
Total operating
expenses
|
|
|
15,163
|
|
|
|
18,373
|
|
|
|
76,946
|
|
|
|
56,979
|
|
Operating
loss
|
|
|
(2,615)
|
|
|
|
(1,521)
|
|
|
|
(8,920)
|
|
|
|
(925)
|
|
Interest
expense
|
|
|
(410)
|
|
|
|
(79)
|
|
|
|
(1,290)
|
|
|
|
(356)
|
|
Increase (decrease) in
fair value of equity investment in Metaverse, a related
party
|
|
|
-
|
|
|
|
(868)
|
|
|
|
(1,828)
|
|
|
|
585
|
|
Gain on forgiveness of
PPP loan
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,178
|
|
Employee retention tax
credit
|
|
|
-
|
|
|
|
-
|
|
|
|
2,475
|
|
|
|
-
|
|
Other income (expense),
net
|
|
|
69
|
|
|
|
(68)
|
|
|
|
(13)
|
|
|
|
1
|
|
Net income (loss)
before income taxes
|
|
|
(2,955)
|
|
|
|
(2,536)
|
|
|
|
(9,575)
|
|
|
|
1,483
|
|
Income tax benefit
(expense)
|
|
|
(119)
|
|
|
|
212
|
|
|
|
(119)
|
|
|
|
788
|
|
Net income
(loss)
|
|
|
(3,075)
|
|
|
|
(2,324)
|
|
|
|
(9,694)
|
|
|
|
2,271
|
|
Net loss attributable
to noncontrolling interest
|
|
|
(4)
|
|
|
|
(82)
|
|
|
|
(39)
|
|
|
|
(59)
|
|
Net income (loss)
attributable to controlling interests
|
|
|
(3,079)
|
|
|
|
(2,406)
|
|
|
|
(9,734)
|
|
|
|
2,212
|
|
Preferred stock
dividends
|
|
|
(87)
|
|
|
|
(175)
|
|
|
|
(351)
|
|
|
|
(442)
|
|
Net income (loss)
attributable to common stockholders
|
|
$
|
(3,166)
|
|
|
$
|
(2,581)
|
|
|
$
|
(10,085)
|
|
|
$
|
1,770
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per
share attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.35)
|
|
|
$
|
(0.30)
|
|
|
$
|
(1.13)
|
|
|
$
|
0.21
|
|
Diluted
|
|
$
|
(0.35)
|
|
|
$
|
(0.30)
|
|
|
$
|
(1.13)
|
|
|
$
|
0.20
|
|
Weighted average shares
of common stock outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
8,995
|
|
|
|
8,747
|
|
|
|
8,889
|
|
|
|
8,532
|
|
Diluted
|
|
|
8,995
|
|
|
|
8,747
|
|
|
|
8,889
|
|
|
|
8,691
|
|
Adjusted EBITDA
We define Adjusted EBITDA to be
earnings before interest, taxes, depreciation and amortization,
other income, net, stock-based compensation and expenses, merger
and acquisition costs, restructuring, transition and acquisitions
expense, net, goodwill impairment and non-recurring items.
Adjusted EBITDA is not a measurement of financial performance
under GAAP and may not be comparable to other similarly titled
measures of other companies. We use Adjusted EBITDA as a financial
metric to measure the financial performance of the business because
management believes it provides additional information with respect
to the performance of its fundamental business activities. For this
reason, we believe Adjusted EBITDA will also be useful to others,
including its stockholders, as a valuable financial metric. We
present Adjusted EBITDA because we believe that Adjusted EBITDA is
a useful supplement to net income (loss) from continuing operations
as an indicator of operating performance. We also believe that
Adjusted EBITDA is a financial measure that is useful both to
management and investors when evaluating our performance and
comparing our performance with that of our competitors. We also use
Adjusted EBITDA for planning purposes and to evaluate our financial
performance because Adjusted EBITDA excludes certain incremental
expenses or non-cash items, such as stock-based compensation
charges, that we believe are not indicative of our ongoing
operating performance. We believe that Adjusted EBITDA is a
performance measure and not a liquidity measure, and therefore a
reconciliation between net loss from continuing operations and
Adjusted EBITDA has been provided in the financial results.
Adjusted EBITDA should not be considered as an alternative to
income from operations or net loss from continuing operations as an
indicator of performance or as an alternative to cash flows from
operating activities as an indicator of cash flows, in each case as
determined in accordance with GAAP, or as a measure of liquidity.
In addition, Adjusted EBITDA does not take into account changes in
certain assets and liabilities as well as interest and income taxes
that can affect cash flows. We do not intend the presentation of
these non-GAAP measures to be considered in isolation or as a
substitute for results prepared in accordance with GAAP. These
non-GAAP measures should be read only in conjunction with our
consolidated financial statements prepared in accordance with
GAAP.
Following is the reconciliation of our consolidated net loss to
Adjusted EBITDA (in thousands):
|
|
|
(Unaudited)
For the Three
Months
Ended March 31,
|
|
|
|
(Unaudited)
For the Fiscal
Year
Ended March 31,
|
|
|
|
|
|
2023
|
|
|
2022
|
|
|
|
|
2023
|
|
|
2022
|
|
Net income (loss)
before income taxes
|
|
|
$
|
(3,075)
|
|
|
$
|
(2,324)
|
|
|
|
$
|
(9,694)
|
|
|
$
|
2,271
|
|
Add
Back:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax (benefit)
expense
|
|
|
|
119
|
|
|
|
(212)
|
|
|
|
|
119
|
|
|
|
(788)
|
|
Depreciation and
amortization
|
|
|
|
855
|
|
|
|
903
|
|
|
|
|
3,763
|
|
|
|
4,566
|
|
Gain on forgiveness of
PPP loan
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
(2,178)
|
|
Employee retention tax
credit
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
(2,475)
|
|
|
|
-
|
|
Interest
expense
|
|
|
|
410
|
|
|
|
79
|
|
|
|
|
1,290
|
|
|
|
356
|
|
(Increase) decrease in
fair value of equity investment in Metaverse, a related
party
|
|
|
|
-
|
|
|
|
868
|
|
|
|
|
1,828
|
|
|
|
(585)
|
|
Impairment of
intangible assets
|
|
|
|
-
|
|
|
|
1,968
|
|
|
|
|
-
|
|
|
|
1,968
|
|
Other (income) expense,
net
|
|
|
|
95
|
|
|
|
187
|
|
|
|
|
13
|
|
|
|
(1)
|
|
Provision (recovery) of
doubtful accounts
|
|
|
|
-
|
|
|
|
(67)
|
|
|
|
|
54
|
|
|
|
(485)
|
|
Stock-based
compensation
|
|
|
|
564
|
|
|
|
2,209
|
|
|
|
|
4,470
|
|
|
|
5,487
|
|
Net loss attributable
to noncontrolling interest
|
|
|
|
(4)
|
|
|
|
(82)
|
|
|
|
|
(39)
|
|
|
|
(59)
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mergers and
acquisitions costs
|
|
|
|
-
|
|
|
|
118
|
|
|
|
|
207
|
|
|
|
354
|
|
Transition-related
costs
|
|
|
|
170
|
|
|
|
-
|
|
|
|
|
541
|
|
|
|
116
|
|
Adjusted
EBITDA
|
|
|
$
|
(867)
|
|
|
$
|
3,647
|
|
|
|
$
|
76
|
|
|
$
|
11,022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments related
to the Cinema Equipment segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization of property and equipment
|
|
|
|
(23)
|
|
|
|
(159)
|
|
|
|
|
(326)
|
|
|
|
(1,160)
|
|
Other
expense
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
(11)
|
|
Recovery of doubtful
accounts
|
|
|
|
-
|
|
|
|
(15)
|
|
|
|
|
(54)
|
|
|
|
485
|
|
Operating
loss
|
|
|
|
(573)
|
|
|
|
(5,632)
|
|
|
|
|
(8,293)
|
|
|
|
(14,347)
|
|
Adjusted EBITDA
excluding Cinema Equipment segment
|
|
|
$
|
(1,463)
|
|
|
$
|
(2,160)
|
|
|
|
$
|
(8,598)
|
|
|
$
|
(4,011)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cineverse-reports-fiscal-year-2023-results-highlighted-by-record-content-and-entertainment-revenue-of-56-0-million-up-48-year-over-year-301867458.html
SOURCE Cineverse Corp.