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Redbox Entertainment Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2022 10-Q, filed Aug 12, 2022. Its latest SEC filing is a 15-12G from Aug 22, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Offers movie rentals and purchases, ad-supported streaming, and kiosk services to consumers, advertisers, and kiosk operators.

How Did They Make Money?

Customers pay for kiosk movie rentals during the rental period and for kiosk sales or digital rentals and purchases at the transaction. Kiosk-service customers pay as contracted work is completed; advertisers pay when their ads are placed and delivered.

FY2021 revenue

Who Were Their Customers?

Consumers rent or buy movies through Redbox kiosks and digital services; other kiosk businesses contract for field service, while advertisers buy placements through programmatic sales, Redbox’s sales team, or its sales partners.

Customers above 10% of revenue, FY2021
of revenue from two customers (13%, 12%)
FY2019: 33% from two customers

Did Revenues Turn Into Profits?

No. It lost $112.8M in FY2021.

Operating income, FY2021
−50% of revenue
▲ +130% (Loss) vs FY2020 (−$62.2M, −11%)
Net income, FY2021
−39% of revenue
▲ +62% (Loss) vs FY2020 (−$69.5M, −13%)
Free cash flow, FY2021
−15% of revenue
▼ Now a loss vs FY2020 ($8.6M, 2%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q2 FY2022, the three months to Jun 30, 2022
Revenue
▼ −5%
vs $69.4M in Q2 FY2021
Net income
  • Aug 11, 2022 Chicken Soup for the Soul Entertainment completed the Redbox acquisition Redbox shares were converted into rights to receive Chicken Soup for the Soul Entertainment shares, and Redbox requested delisting from Nasdaq.
  • Apr 25, 2022 The CFO planned to resign, and an interim CFO was appointed Kavita Suthar planned to leave the role on May 16, 2022; Mitchell Cohen was appointed interim CFO effective May 17, 2022.

Shrank. Revenue fell 66% in 2 years, from $858.4M in FY2019 to $288.5M in FY2021, about 42% a year.

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