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Mar 31, 2023
Cinedigm Q4 2023 Earnings Report
Reported fiscal year 2023 results, highlighted by record content and entertainment revenue, and issued revenue, gross margin and adjusted EBITDA guidance for fiscal year 2024.
Key Takeaways
Cineverse reported Q4 FY 2023 financial results, with consolidated revenue of $12.5 million and content and entertainment revenue of $11.7 million, a 14.5% increase year-over-year, excluding the legacy Cinema Equipment business. Streaming and Digital revenue increased by 18.7% to $7.3 million. The company's content and entertainment gross margin improved to 45%.
Consolidated revenue was $12.5 million.
Content and Entertainment revenue was $11.7 million, up 14.5% year-over-year excluding the legacy Cinema Equipment business.
Streaming and Digital revenue increased 18.7% to $7.3 million.
Content and Entertainment gross margin improved to 45%, up 700 basis points year-over-year.
Forward Guidance
The Company expects consolidated revenues of between $62.0 million and $70.0 million in FY 2024, with the Content and Entertainment segment representing 95% or more of total revenue. Gross margin is expected to range between 45% to 50% in FY 2024. Adjusted EBITDA is expected to range between $2.0 million and $4.0 million in FY 2024.
Positive Outlook
- Increase revenue
- Enhance gross margins
- Increase adjusted EBITDA from the Content & Entertainment assets
- Generating sustainable, positive free cash flow by the end of FY 2024
- Content and Entertainment segment representing 95% or more of total revenue
Historical Earnings Impact
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Avg. Return Before/After Earnings
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