Cineverse reports 175% revenue growth despite widening quarterly loss

Cineverse reported its first quarter fiscal 2027 results, showing a significant increase in revenue alongside a widening net loss. Revenue rose 175% year-over-year to $30.6 million, driven largely by advertising technology, which contributed $15.9 million. However, the company reported a net loss of approximately $5.7 million to $5.8 million, an increase from the $3.5 million to $3.6 million loss recorded during the same period last year.

The increased loss is attributed to the costs of integrating recently acquired companies, including CTV AdTech firm IndiCue and media services company Giant Worldwide. Despite the loss, the company achieved its second consecutive quarter of positive adjusted EBITDA, reaching $0.5 million.

Streaming engagement reached record levels, with 4.5 billion minutes streamed (up 33%) and 122.8 million viewers (up 12%). SVOD subscribers also grew by 12% to 1.52 million. Management reaffirmed fiscal 2027 guidance, projecting revenue between $115 million and $120 million and adjusted EBITDA between $10 million and $20 million.