Cineverse Corp (CNVS) Q4 2025 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Q4 Net Income: $858,000, a $15.5 million increase over the prior year.
Q4 Adjusted EBITDA: $4 million, a 158% increase over the prior year quarter.
Q4 Direct Operating Margin: 55%, above the target range of 45% to 50%.
Full-Year Revenue: $78.2 million, a 59% increase over the prior year.
Full-Year Net Income: $3.8 million.
Full-Year Adjusted EBITDA: $13.9 million, a 216% increase over the prior year.
SG&A Expenses: $5.4 million for the quarter, a decrease of $1.4 million from the prior year quarter.
Cash and Cash Equivalents: $13.9 million as of March 31, 2025.
Net Cash Provided by Operations: $18.5 million for the year, a $29.1 million improvement over the prior year.
Streaming Engagement: 3.2 billion minutes streamed in Q4, up 45% over the prior year.
Podcast Revenue Growth: 57% increase over the prior year.
c360 Revenue Growth: 290% year-over-year increase in Q4.
Warning! GuruFocus has detected 7 Warning Signs with CNVS.
Release Date: June 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Cineverse Corp (NASDAQ:CNVS) reported a 58% increase in total revenue for the fourth quarter, reaching $15.6 million, and a 59% increase for the full fiscal year, totaling $78.2 million.
The company achieved a significant improvement in net income, with a $15.5 million increase over the prior year, resulting in a net income of $858,000 for the quarter.
Adjusted EBITDA for the quarter was $4 million, marking a 158% increase over the prior year, showcasing strong financial performance.
Cineverse Corp (NASDAQ:CNVS) successfully launched new initiatives, including the reorganization of its technology business and the creation of a dedicated theatrical motion pictures division.
The company reported strong growth in its streaming and podcasting businesses, with podcast revenues up 57% over the prior year and streaming platforms delivering a 45% increase in minutes streamed.
The company faces challenges in the advertising environment, with a depressed direct and programmatic advertising market due to companies pulling back on discretionary advertising spend.
Despite strong financial performance, the company acknowledges the pressure on CPMs and fill rates for open market programmatic advertising due to a glut of supply in competitive channels.
Cineverse Corp (NASDAQ:CNVS) is still in the early stages of expanding its Matchpoint technology to major studios, with the need to prove its capabilities through pilots and commercial trials.
The company is navigating a competitive landscape in the podcasting space, requiring strategic investments in direct sales and content expansion to maintain growth momentum.
There is a reliance on the success of upcoming film releases to drive future revenue, with significant investments in new films like The Toxic Avenger and Silent Night, Deadly Night.
Q: Chris, with the upcoming wide releases, how much more are you willing to invest if you see early signs of success? Also, how do you view pay windows and licensing opportunities for the licenses you own? A: Christopher McGurk, Chairman and CEO: As we continue to fill out our slate, our objective is to set up a pay output deal, and we've started discussions in that regard. We'll be announcing more films similar to those in our current release slate and expanding into family films, fantasy, Black Cinema, and comedy. Once these pieces are in place, we'll get serious about negotiating a pay deal.
Q: How should investors think about cineSearch and Matchpoint in terms of pipeline opportunities and potential impact on results? A: Erick Opeka, President and Chief Strategy Officer: We're now focused on enterprise-level opportunities rather than smaller entities. Tony Huidor, President of Technology and Chief Product Officer, added that each major studio deal could be $5 million and up, depending on the scope. The current pilot with a major studio could expand significantly, and we expect a strong foothold in the business within a few years.
Q: Can you provide more details on the monetization of podcasting and the impact of direct sponsorships? A: Erick Opeka, President and Chief Strategy Officer: Podcasts offer premium content, leading to higher CPMs than CTV. We're focusing on shows with significant listener bases and have hired a direct sales team. Deals with larger brands can reach below six figures, and we expect to double our podcast revenue compared to last year, depending on macro conditions.
Q: How do you view the profitability and operating margins, especially with successful wide releases? A: Christopher McGurk, Chairman and CEO: We achieved a 55% operating margin last quarter, and we feel confident in meeting or exceeding our target of 45% to 50% going forward. Mark Lindsey, CFO, noted that the margin last quarter was 49%.
Q: What is the strategy for expanding the theatrical slate and securing output deals? A: Christopher McGurk, Chairman and CEO: We plan to announce more films similar to our current slate and expand into other genres. Once our release slate is complete, we'll focus on negotiating a pay output deal, leveraging our unique media assets and releasing formula.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
This article first appeared on GuruFocus.
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