Cineverse Q2 revenue jumps 110% on tech and media services
CNVS•Cineverse's fiscal second-quarter revenue rose 110% year over year to $25.96 million, driven largely by acquisitions that expanded its technology and media services. The company reaffirmed fiscal 2027 revenue guidance of $115 million to $120 million and adjusted EBITDA guidance of $10 million to $20 million.
1. Revenue growth
Cineverse reported fiscal second-quarter revenue of $25.96 million, up 110% year over year and above the $24.31 million consensus estimate. Net income was $3.25 million, and operating income was $4.05 million.
2. Services and costs
Technology and media services made up 55% of revenue, compared with less than 5% a year earlier. The company said revenue growth was largely driven by its acquisitions of IndiCue and Giant Worldwide. Selling, general and administrative expenses fell $1.3 million year over year, while adjusted EBITDA turned positive for a third straight quarter, increasing $5.4 million year over year.
3. Fiscal 2027 outlook
Cineverse reaffirmed its fiscal 2027 revenue outlook of $115 million to $120 million and adjusted EBITDA outlook of $10 million to $20 million. It expects technology revenue to account for more than 50% of total revenue and highlighted $9 million in annualized cost reductions.
