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Cineverse (CNVS) Q2 2027 Earnings Report

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CNVS Q2 2027 EPS Results

Actual EPS
$0.11
Consensus EPS
-$0.23
Beat/Miss
Beat by +$0.34
One Year Ago EPS
-$0.31

CNVS Q2 2027 Revenue Results

Actual Revenue
$25.95M
Expected Revenue
$24.31M
Beat/Miss
Beat by +$1.65M
YoY Revenue Growth
+110.04%

Earnings Announcement Details

Quarter
Q2 2027
Date
11/13/2026
Time
Before Open
Conference Call
Friday, November 13, 2026
CNVS Upcoming Earnings

Cineverse's next earnings date is estimated for February 17, 2027, based on past reporting schedules.

Q2 2027 Earnings Call Audio

CNVS Q2 2027 Earnings Call
0:00 / 0:00

Q2 2027 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2027 Earnings Call Summary

Q2 2027
Earnings Call Date:Nov 13, 2026|% Change Since:23.76%|
Earnings Call Sentiment|Positive

The call was strongly positive, supported by 110% revenue growth, improving adjusted EBITDA, positive net income, substantial cost savings, strong streaming metrics, acquisition synergies, new technology customers, and reaffirmed fiscal 2027 guidance. The main challenges were the year-over-year decline in direct operating margin, negative working capital, limited cash, advance theatrical spending, prior CPM pressure, and the normalizing of political advertising rates. Highlights significantly outweighed the lowlights.

Company Guidance

Cineverse reaffirmed fiscal year 2027 guidance of $115 million-$120 million in total revenues and $10 million-$20 million in adjusted EBITDA, expects direct operating margins to improve in the second half of the year, and expects to exit the fiscal year at the full $14 million run rate from its cost rationalization program, with over $9 million implemented and $9 million in annualized savings actioned to-date; the company intends to double podcast network revenue over the next six to nine months, raised subscription prices across every single service with increases averaging 25%-40%, expects a meaningful lift in subscription revenue that will far outweigh any temporary churn, expects the Vizio rollout to begin in its fiscal fourth quarter, and targets deployment of that product by the end of this fiscal year to early Q4, hopefully in January.

  • Revenue More Than DoubledSecond-quarter revenue was $26 million, up 110% from $12.4 million in the prior-year quarter, primarily driven by new ad tech and media services revenue streams and the impact of the Giant Worldwide and IndiCue acquisitions.
  • Improved Profitability and Positive EBITDA MomentumNet income attributable to common stockholders was $3.2 million, or $0.11 per share, an $8.8 million improvement year over year and a $0.42 per-share increase. Adjusted EBITDA was $1.7 million, up $5.4 million year over year and $1.2 million sequentially, marking the third consecutive quarter of positive and improving adjusted EBITDA.
  • Strong Forward Revenue MomentumCineverse generated more than $10 million in consolidated revenue in September and preliminarily estimated approximately $15 million in October revenue, which would be its biggest revenue month since the release of Terrifier 3 two years ago.
  • Fiscal 2027 Guidance ReaffirmedManagement reaffirmed full-year fiscal 2027 guidance of $115 million-$120 million in total revenue and $10 million-$20 million in adjusted EBITDA.
  • Technology Business Became the Majority of Revenue and GrowthManagement stated that the technology business now represents the majority of Cineverse's revenue and growth, with ad tech and media services the largest factor in more than doubling quarterly revenue versus the prior year.
  • Direct Operating Margin Improved SequentiallyDirect operating margin was 38%, representing a 300 basis point improvement over the first quarter despite the seasonally lower revenue period. Management expects margins to improve in the second half as seasonal and theatrical revenue increases and cost rationalization initiatives are completed.
  • Cost Rationalization Is Producing SavingsReported SG&A was $10.1 million, $1.3 million below the prior-year quarter and approximately $1.5 million below the first quarter of fiscal 2027, despite adding more than 120 people, integrating two acquisitions, and carrying the full marketing amount behind the theatrical slate. The company has implemented more than $9 million of annualized savings toward a $14 million target and expects to exit the fiscal year at the full $14 million run rate.
  • Cash Flow From Operations ImprovedCash flow from operations improved by $17 million compared with the prior year-to-date period, despite a $4 million increase in content advances.
  • M&A Liabilities Largely SettledCineverse had paid more than $4 million of its cash-based M&A liabilities as of the call, with only $0.4 million remaining to be paid in January.
  • Jason Universe Rights SecuredCineverse secured 25-year North American rights across all media for the latest feature film in the Jason Universe franchise. Management described the title as a high-impact theatrical and ancillary-market opportunity and said the company intends to fully fund the release internally without third-party capital.
  • Lower Investment Profile for Jason FilmManagement said that although the Jason film's production budget is higher than Terrifier 3, Cineverse's all-in investment will be much lower than its Terrifier 3 investment, with the company describing the project as carrying virtually de minimis risk.
  • Successful Theatrical Slate and Library ExpansionManagement stated that all six of its last wide film releases, including Pan's Labyrinth, will be profitable, add value to the library, and drive viewers and subscribers to streaming channels. The company also secured Guillermo del Toro's 20th anniversary edition of Pan's Labyrinth as a profitable addition to its film library.
  • Film Library Valuation IncreasedCineverse's film library was valued at approximately $45 million, which management said was more than 7 times its current book value.
  • Technology and AI Leadership Added to the BoardCineverse nominated Dr. Samrat Ganguly, a former Apple global infrastructure leader and founder behind the Matchpoint platform, for election to its board. Management said he would help plan and execute the company's technology and AI future.
  • Market Tailwinds for Content and Advertising AutomationManagement cited restructuring across major media companies, AI-readiness requirements, and increasing scale in connected-TV advertising as market drivers. U.S. connected-TV advertising is expected to reach approximately $38 billion in 2026, political spending in the current cycle was about $2.7 billion, and Omdia expects global CTV advertising revenue to reach $81 billion by 2030.
  • Subscription Pricing IncreasedCineverse raised prices across every third-party subscription service, with increases averaging 25%-40%. Management said the services had not been substantially repriced since before COVID and remained relatively inexpensive, with some previously priced at $3 or $4.
  • Advertising and Podcast Expansion PlansManagement intends to double podcast network revenue over the next six to nine months and is increasing the use of its apps and Bloody Disgusting properties to drive film views and advertising impressions.
  • Matchpoint Automation Reached Scale DeploymentA major broadcaster became the first scale enterprise customer to run fully automated on Matchpoint. Management said the completed workflow carries software margins and that two longstanding Giant customers are moving into the same model.
  • Offshore Operating Footprint ExpandedCineverse has close to 200 employees across India, Poland, and Moldova. Poland is expected to double in size and move into a larger facility, while management expects the majority of technology-business work and hiring over time to be in those regions.
  • IndiCue Platform Upgrade Supporting Margin ExpansionCineverse launched a new version of the IndiCue platform during the September quarter and said it is already driving margin expansion and could be a meaningful contributor in the second half of the fiscal year.
  • Vizio Trials and Customer WinsTechnical trials with Vizio went well. Cineverse signed four scale supply and demand customers during the trial and expects the rollout to begin in the fiscal fourth quarter.
  • Streaming Minutes and Channel Performance IncreasedTotal streaming minutes grew 8% year over year to 4.05 billion, or 36% excluding three channels that wound off during the quarter. Dove had its most-watched quarter on record, up 80% to 854 million minutes, with audience up 43% and minutes per viewer up 26%. The Dog Whisperer and Yu-Gi-Oh! channels also set records, while Midnight Pulp grew 280% on its co-pilot launch.
  • Subscription and Roku GrowthThe flagship Cineverse channel reached another all-time high, up 60% year over year, and RetroCrush also reached a new high. Roku subscribers across Cineverse channels increased 62% year over year, while total subscribers ended the quarter at 1.44 million, up approximately 2%.
  • New Commercial Opportunities and Customer RelationshipsManagement announced a new relationship involving approximately $8 billion of media for large advertisers and said it had substantially expanded relationships with several studios. It also reported strong positioning with Skydance and opportunities to expand Giant's media-services relationships.
  • Managed Services Provide a Faster Enterprise Entry PointManagement said customers can begin using managed services in a few days without signing a SaaS contract, while larger SaaS deployments typically have a six-12 month sales cycle. The company views managed services as a way to demonstrate the platform and expand into additional enterprise products.
  • AVOD Pricing Trends Began StabilizingManagement said CPMs had previously declined because market supply grew faster than demand, particularly for undifferentiated or lower-tier inventory, but that trends had begun to stabilize and revert in some categories. Inventory expansion on OEMs has slowed, allowing prices to begin stabilizing and increasing.
  • Liquidity Support for Pan's LabyrinthCineverse secured a $3 million BondIt loan for Pan's Labyrinth to better align the timing of theatrical commitments and related revenue while maintaining investment in growth and profitability initiatives.

CNVS Earnings History

CNVS earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 17, 20272027 (Q3)-0.02--0.05――
Nov 13, 20262027 (Q2)-0.230.11-0.31135.48% (+0.42)
Aug 13, 20262027 (Q1)-0.18-0.28-0.21-33.33% (-0.07)
Jun 26, 20262026 (Q4)-0.120.050.0425.00% (+0.01)
Feb 17, 20262026 (Q3)-0.03-0.050.34-114.71% (-0.39)
Nov 14, 20252026 (Q2)-0.17-0.31-0.09-244.44% (-0.22)
Aug 14, 20252026 (Q1)-0.13-0.21-0.2-5.00% (-0.01)
Jun 27, 20252025 (Q4)-0.070.04-1.1103.64% (+1.14)
Feb 13, 20252025 (Q3)0.300.34-0.22254.55% (+0.56)
Nov 14, 20242025 (Q2)-0.12-0.09-0.04-125.00% (-0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed