Cineverse Reports Second Quarter Fiscal Year 2024 Results
LOS ANGELES, Nov. 14, 2023 /PRNewswire/ -- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for the fiscal second quarter ended September 30, 2023 ("Q2 FY 2024").
- Operating Expenses Decreased by $6.3 Million, or 34%
Adjusted EBITDA Increased by $3.7 Million, or 283%, to $2.4 Million
LOS ANGELES, Nov. 14, 2023 /PRNewswire/ -- Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ: CNVS), a global streaming technology and entertainment company, today announced its financial results for the fiscal second quarter ended September 30, 2023 ("Q2 FY 2024"). - Q2 FY 2024 Highlights (all comparisons are to the prior year fiscal quarter ended September 30, 2022):
During the Quarter, the Company's initiatives to reduce operating costs, optimize our streaming channel portfolio and increase margins had a very positive impact on our financial results. - Last quarter, the Company launched Cineverse Services India ("Cineverse Services"), a new business unit that expands upon the Company's successful India operations to consolidate Cineverse's support operations at vastly reduced costs.
- ET today (Tuesday, November 14, 2023), during which management will discuss the results of the fiscal second quarter ended September 30, 2023.