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Jun 30, 2022
Cinedigm Q1 2023 Earnings Report
Reported first quarter fiscal year 2023 financial results, highlighting positive business results, growth trajectory, and plan for sustainable profitability.
Key Takeaways
Cinedigm reported strong business momentum with total streaming revenue surging up 98% in the first quarter of fiscal year 2023. The company is focused on achieving significant total revenue growth, sustainable long-term profitability, and positive cash flow in the current fiscal year through new business initiatives and cost savings.
Total streaming revenue increased by 98% compared to the prior year.
Ad-supported streaming revenue grew by 131% year-over-year.
Subscription streaming revenue was up 43%, with subscribers increasing by 45% over the prior year.
The company expects to generate at least $7.5 million in annual cost savings and achieve long-term sustainable profitability this year.
Forward Guidance
Cinedigm expects significant total revenue growth, sustainable long-term profitability, and positive cash flow in the current fiscal year via new business initiatives and significant cost savings.
Positive Outlook
- Company expects to achieve significant total revenue growth.
- Company expects sustainable long-term profitability.
- Company expects positive cash flow in current fiscal year.
- New business initiatives will drive growth.
- Significant cost savings will contribute to profitability.
Historical Earnings Impact
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