NASDAQ$CNVS
Cinedigm Corp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Cineverse's financial performance was marked by improved direct operating margins and reduced SG&A expenses, despite a decrease in total revenue due to specific one-time factors.
Cineverse reported a decrease in revenue due to the runoff of its legacy digital cinema business and a decrease in theatrical revenue, but improved its direct operating margin and significantly reduced selling, general, and administrative expenses. The company generated positive adjusted EBITDA and secured rights to Terrifier 3.
- Total revenue was $13.3 million, reflecting impacts from the digital cinema business and theatrical releases.
- Subscription-based revenues increased 13% to $3.4 million, with total paid subscribers growing to 1.4 million.
- Direct operating margin increased to 59% from 48%, while direct operating expenses decreased to $5.5 million from $14.4 million.
- SG&A expenses decreased by 30%, driven by workforce reduction and offshoring initiatives.
Headline financials
Revenue & EPS history
Cinedigm · Revenue · Quarterly
$13.3M
Forward guidance
Cineverse will focus on four key areas: leveraging their partnership with Amagi to drive high-margin technology revenues, expanding distribution of SVOD, AVOD and FAST streaming channels to OEM and tech partner network, expanding licensing their 71,000 title library to those same partners, and growing and driving direct ad sales on their channels and new ad network.
Tailwinds
- Streamlining efforts continue to pay off.
- Business model of building deep fan bases in popular verticals and providing scale volumes of relevant, library and low-cost first window content is a model that works.
- Continued focus reducing SG&A costs to scale up the bottom line.
- Continue to leverage both automation and offshore services hub and expect to achieve profitability goals over the next two quarters.
- Built a model that has the potential to profitably scale.
Headwinds
- No specific negative aspects were mentioned in the provided text.
- No specific negative aspects were mentioned in the provided text.
- No specific negative aspects were mentioned in the provided text.
- No specific negative aspects were mentioned in the provided text.
- No specific negative aspects were mentioned in the provided text.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+1.8%
Avg return
Earnings day
-1.9%
Avg return
5 days after
-4.9%
Avg return
30 days after
60%
24 / 40 earnings
Positive
+51.6%
Q3 2024
Best reaction
-21.7%
Q4 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +9.6% | +14.8% | -14.4% | |
| Q2 2026 | +0.0% | +1.7% | -5.8% | |
| Q1 2026 | -13.4% | -18.0% | -42.3% | |
| Q4 2025 | +14.8% | +36.4% | +39.0% | |
| Q3 2025 | -6.7% | +2.9% | -18.3% | |
| Q2 2025 | -3.0% | +43.3% | +33.2% | |
| Q1 2025 | +1.2% | +5.0% | +5.0% | |
| Q4 2024 | +1.1% | -5.6% | -9.0% | |
| Q3 2024 | +51.6% | -0.6% | -19.4% | |
| Q2 2024 | +1.8% | -1.8% | +0.9% | |
| Q1 2024 | +4.7% | -1.6% | -1.6% | |
| Q4 2023 | +4.1% | -15.8% | -28.1% | |
| Q3 2023 | -8.3% | -23.3% | -21.7% | |
| Q2 2023 | -1.6% | -24.6% | -21.3% | |
| Q1 2023 | -1.3% | -23.4% | -29.9% | |
| Q4 2022 | +7.7% | -21.5% | -12.3% | |
| Q3 2022 | -3.7% | +3.7% | -15.9% | |
| Q2 2022 | +2.8% | -24.0% | -40.1% | |
| Q1 2022 | +4.9% | +6.4% | +20.2% | |
| Q4 2021 | +2.5% | -4.5% | +12.1% | |
| Q3 2021 | -3.0% | -28.9% | -17.8% | |
| Q2 2021 | +10.0% | -1.7% | +36.7% | |
| Q1 2021 | -14.6% | -30.5% | -44.5% | |
| Q4 2020 | -0.5% | -6.2% | -29.7% | |
| Q3 2020 | -5.5% | -1.8% | -36.4% | |
| Q2 2020 | +3.4% | +4.6% | -13.8% | |
| Q1 2020 | +0.8% | -2.4% | -23.4% | |
| Q4 2019 | -4.1% | +0.8% | +0.8% | |
| Q3 2019 | +14.3% | +17.1% | +73.3% | |
| Q2 2019 | +2.3% | -12.6% | -12.6% | |
| Q1 2019 | +5.5% | -4.1% | -9.0% | |
| Q4 2018 | +0.0% | +2.0% | -1.3% | |
| Q3 2018 | +3.2% | -0.8% | +4.8% | |
| Q2 2018 | +0.7% | +7.3% | +8.8% | |
| Q1 2018 | +1.3% | -3.3% | -1.3% | |
| Q4 2017 | -8.0% | -22.6% | -33.2% | |
| Q3 2017 | +7.2% | +28.0% | +11.2% | |
| Q2 2017 | +3.8% | +8.9% | -9.5% | |
| Q1 2017 | +7.1% | -10.3% | -23.2% | |
| Q4 2016 | -21.7% | +30.4% | +94.8% | |
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