Cineverse Reports Fiscal Year 2023 Results, Highlighted by Record Content and Entertainment Revenue of $56.0 Million, Up 48% Year over Year
LOS ANGELES, June 29, 2023 /PRNewswire/ -- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a global streaming technology and entertainment company with one of the world's largest portfolio of streaming channels and content libraries, today announced its financial results for the fiscal fourth quarter ("Q4 FY 2023") and full year ("FY 2023") ended March 31, 2023.
- Excluding the legacy Cinema Equipment business, revenue from the Content and Entertainment business was $56.0 million, an increase of 47.7%, from the prior year.
- Excluding the legacy Cinema Equipment business, revenue from the Content and Entertainment business was $11.7 million, an increase of 14.5%, from the prior-year quarter.
- This compares to $20.7 million in Content and Entertainment revenue in Q3 FY2023, the seasonally strongest quarter, which included $7.6 million in revenue from the release of Terrifier 2 in theaters and home entertainment.
- ET today (Thursday, June 29, 2023), during which management will discuss the results of the fiscal fourth quarter and year ended March 31, 2023.