Cineverse missed Wall Street estimates in its fiscal fourth quarter, but CEO Chris McGurk tapped his Hollywood studio executive background to turn attention to this fall’s release of Terrifier 3 during an earnings call with analysts. In the period ended March 31, total revenue came in at $9.9 million compared with $12.
5 million in the same period of the prior year. The company said the slide reflected a $1.3 million drop in the company’s physical business, an $800,000 impact from digital cinema in the prior-year the Digital Cinema ($0.
8 million) impact in the prior-year quarter, and the impact of our channel portfolio optimization efforts. Related Stories News Netflix Shines Light On 1994 As Great Year For Film; What Got Left On Cutting Room Floor Commentary Peter Bart: 'Beverly Hills Cop: Axel F' Will Be Netflix's Latest Triumph, And Contradiction Net losses per share widened to $1.10 from a loss of 35 cents in the year-ago period, while adjusted EBITDA increased by $2.
4 million to $1.6 million. The consensus expectation among analysts was a net loss of 21 cents a share and revenue of $10.
55 million. The company’s stock slipped 2% in after-hours trading on the results, though it wound up back where it had closed the regular trading day, at 90 cents. After peaking north of $50 three years ago, Cineverse shares have been punished along with many peers as Wall Street has taken an increasingly skeptical view of the streaming business.
Cineverse, formerly Cinedigm, was foun.
