Cineverse reports Q1 revenue growth, positive adjusted EBITDA

Cineverse (NASDAQ: CNVS ) reported first-quarter financial results on Thursday.

The transcript from the company's first-quarter earnings call has been provided below.

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The full earnings call is available at Summary Cineverse reported a 175% increase in total revenues, reaching $30.6 million, with technology revenues comprising over 60% of the total.

Two strategic acquisitions of Giant Worldwide and INDIQ have been key drivers of growth, with integration and cost reduction initiatives targeting $13 million in annual savings.

The company is optimistic about Vaudio, a new ad tech offering, and plans to focus on high-potential, profitable core products and services.

Cineverse achieved its second consecutive quarter of positive adjusted EBITDA, highlighting the success of its new operating model.

The company reaffirmed its fiscal year 2027 guidance of $115 to $120 million in revenue and $10 to $20 million in adjusted EBITDA, with expectations of strong performance in the second half of the year.

Full Transcript OPERATOR After today's prepared remarks, we will host a question-and-answer session.

If you would like to ask a question, please press star one to raise your hand.

To withdraw your question, press star one again.

I will now hand the conference over to Gary Lofredo, Chief Legal Officer, Secretary, and Senior Advisor.

Gary, please go ahead.

Gary Lofredo, Chief Legal Officer, Secretary, and Senior Advisor Good afternoon everyone.

Thank you for joining us for the Cineverse first quarter fiscal year 2027 financial results conference call.

The press release announcing Cineverse's results for the fiscal first quarter ended June 30, 2026 is available at the Investor section of the company's website at A replay of this broadcast will also be made available on Cineverse's website after the conclusion of this call.

Before we begin, I would like to point out that certain statements made on today's call contain forward-looking statements.

These statements are based on management's current expectations and are subject to risks, uncertainties, and assumptions.

The Company's periodic reports that are filed with the SEC describe potential risks and uncertainties that could cause the Company's business and financial results to differ materially from these forward-looking statements.

All of the information discussed on this call is as of today, August 13, 2026, and Cineverse does not assume any obligation to update any of these forward-looking statements except as required by law.

In addition, certain financial information presented in this call represents non-GAAP financial measures and we encourage you to read our disclosures and the reconciliation tables to applicable GAAP measures in our earnings release carefully as you consider these metrics.

I'm Gary Lofredo, Chief Legal Officer, Secretary, and Senior Advisor at Cineverse.

With me today are Chris McGurk, Chairman and CEO; Eric Opeka, President and Chief Strategy Officer; Sean McCabe, Chief Financial Officer; Yolanda Macias, Chief Motion Pictures Officer; and Mark Torres, Chief People Officer, all of whom will be available for questions following the prepared remarks on today's call.

Chris will briefly discuss our first quarter fiscal year 2027 business highlights.

Then Sean will follow with a review of our financial results and Eric will provide further details on our two recent acquisitions.

I will now turn the call over to Chris McGurk to begin.

Chris McGurk, Chairman and CEO Thank you, Gary, and thanks everyone for joining us on the call.

Today we registered yet another very strong quarter driven by the acquisitions of Giant Worldwide and INDIQ, which both closed during the fourth quarter of fiscal 2026.

We increased total revenues by 175% over last year's first quarter and increased adjusted EBITDA by $2.6 million, our second positive adjusted EBITDA quarter in a row.

We feel this is impressive as we had no new wide-release theatrical films during this quarter, which also happens to be one of our two most seasonally slow quarters across all our businesses.

Importantly, technology revenues represented more than 60% of the consolidated total during the quarter.

Clearly, technology is now the largest source of revenue for the company and much of that revenue is recurring and durable, with many A-list industry customers now using our products and services.

We're also very optimistic about the business and financial prospects for Vaudio, a new proprietary ad tech offering that extends brands' audio campaigns onto connected TVs.

This new product, which was developed and built by the INDIQ executive team, was just announced yesterday.

Following our two key acquisitions, we've embarked on several initiatives to reduce costs, improve efficiencies, and generate synergies.