Cineverse Corp

cineverse.com

What Do They Do?

Runs streaming channels and distributes films and TV programs, while providing streaming and advertising technology to content owners, media companies and advertisers.

How Do They Make Money?

Cineverse earns streaming fees from licensing, subscriptions, services and advertising; content fees are tied to availability and ad fees to delivered impressions. Physical goods are billed at shipment, theatrical fees when films are shown and studio services on delivery; customer payment terms are typically net 30 to 90 days.

revenue

Segment	Share	How money arrives
OTT Streaming and Digital Mix	61% FY2023: 59%	Mix
Base Distribution	15% FY2023: 20%
Advertising Technology and Services Usage-based	12%	Usage-based
Podcast And Other	6.7% FY2023: 3.3%
Media Services Sold outright	5.6%	Sold outright
Other Non-Recurring	<0.1% FY2023: 18%

Who Are Their Customers?

Viewers reach channels directly, through major apps or via third-party distributors. Advertisers and media owners use its connected-TV and out-of-home ad tools, while studios buy quality-control, packaging and localization work.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2025: 53% from two customers

Do Revenues Turn Into Profits?

No. It lost $8.7M in FY2026.

Operating income, FY2026

−23% of revenue

▼ Now a loss vs FY2025 ($7.9M, 10%)

Net income, FY2026

−13% of revenue

▼ Now a loss vs FY2025 ($3.8M, 5%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jun 30, 2026

Revenue: ▲ +175%; vs $11.1M in Q1 FY2026
Net income: ▲ +62% (Loss); vs −$3.5M in Q1 FY2026

Streaming and Digital share of revenue vs 81.9% in Q1 FY2026

Aug 13, 2026 Reaffirmed fiscal 2027 revenue and adjusted EBITDA guidance Revenue guidance is $115 to $120 million, with adjusted EBITDA guidance of $10 to $20 million.

Growing. Revenue grew 17% in 4 years, from $56.1M in FY2022 to $65.7M in FY2026, about 4% a year.

Digital cinema run-off The older report described digital cinema asset servicing as a business and said the projector division was being phased out; the latest says the legacy operations have run off, though asset sales or variable consideration may still generate revenue.

Revenue over time

OTT Streaming and Digital Base Distribution Advertising Technology and Services Podcast And Other Media Services Other Non-Recurring

$100M$50M$0

FY2023 FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with Netflix, Amazon Prime, Hulu, and Disney Plus

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