Cineverse revenue skyrockets 110% to $26 million

Cineverse Corp. (NASDAQ:CNVS) reported fiscal second-quarter 2027 revenue of $26 million, representing a 110% increase from $12.4 million in the prior-year quarter, driven largely by its Technology and Media Services businesses.

Technology and Media Services accounted for 55% of quarterly revenue, compared with less than 5% a year earlier, following the acquisitions of Giant Worldwide and IndiCue.

Net income attributable to common stockholders reached $3.2 million, or $0.11 per diluted share, compared with a $5.7 million loss, while adjusted EBITDA increased $5.4 million to $1.7 million, partly helped by a non-recurring $7.0 million reduction in the valuation of acquisition-related liabilities.

The company reaffirmed its fiscal 2027 guidance of $115 million–$120 million in revenue and $10 million–$20 million in adjusted EBITDA, while reporting $3.6 million in cash and negative working capital of $9.7 million at September 30, 2026.

Cineverse has implemented $9 million in annualized cost reductions and synergies and secured North American distribution rights to the 13th Jason Universe feature film, featuring Jason Voorhees, as part of its upcoming entertainment release slate.