Cineverse Corp Revenue Falls 60% to $16.3M in Q3 FY2026

Cineverse Corp posted total revenue of $16.3 million for the three months ending December 31, 2025, a 60% decline from $40.7 million in the same quarter a year earlier. For the nine months ending December 31, total revenue fell 36% to $39.8 million from $62.6 million in the prior-year period. Read more earnings reports.

The company swung to a net loss of $875,000 in the third quarter from net income of $7.2 million a year ago. For the nine-month period, the net loss widened to $9.9 million from a net loss of $92,000 in the prior year. Basic loss per share was $0.05 for the quarter compared to earnings of $0.38 per share a year earlier.

Operating expenses for the quarter totaled $16.9 million, down from $31.3 million in the year-ago period. The company reported an operating loss of $656,000 compared to operating income of $9.4 million in the third quarter of fiscal 2025. For the nine months, operating loss was $9.8 million versus operating income of $5.8 million in the prior-year period.

Cash and cash equivalents fell to $2.5 million as of December 31, 2025, from $13.9 million at the end of March 2025. The company burned $23.3 million in cash from operations during the nine-month period compared to generating $4.9 million in the prior year. Cash from financing activities brought in $13.2 million compared to a $3.4 million outflow a year earlier.

Total assets declined to $68.6 million at quarter-end from $72.5 million at the end of March. Current assets fell to $29.2 million from $38.1 million. Accounts receivable increased to $17.4 million from $15.8 million. Total liabilities decreased to $30.8 million from $34.7 million, while stockholders' equity dipped slightly to $38.6 million from $38.8 million.

Selling, general and administrative expenses rose to $10.7 million in the quarter from $9.4 million a year earlier. For the nine-month period, SG&A expenses climbed to $31.0 million from $22.3 million. Depreciation and amortization totaled $1.2 million for the quarter compared to $946,000 in the prior-year quarter.

Common shares outstanding increased to 19.4 million as of December 31, 2025, from 16.0 million at the end of March 2025. The weighted average share count for the quarter was 19.2 million basic shares compared to 15.9 million a year ago.