$CNVS

Cinedigm Corp.

CIK:0001173204|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 30,595	$ 11,119
Costs and expenses
Direct operating	19,936	4,807
Selling, general and administrative	11,618	8,952
Depreciation and amortization	2,815	1,062
Change in fair value of acquisition-related deferred consideration	2,000	0
Change in fair value of acquisition-related earnout consideration	(650)	0
Total operating expenses	35,719	14,821
Operating loss	(5,124)	(3,702)
Interest (expense) income	(558)	278
Other income (expense), net	11	(78)
Net loss before income taxes	(5,671)	(3,502)
Income tax expense	(19)	(14)
Net loss	(5,690)	(3,516)
Net loss attributable to noncontrolling interest	0	(44)
Net loss attributable to controlling interests	(5,690)	(3,560)
Preferred stock dividends	(81)	(89)
Net loss attributable to common stockholders - basic	$ (5,771)	$ (3,649)
Net loss per share attributable to common stock holders: - basic	$ (0.28)	$ (0.21)
Net loss per share attributable to common stock holders: - diluted	$ (0.28)	$ (0.21)
Weighted average shares of Common Stock outstanding - basic	20,671	16,992
Weighted average shares of Common Stock outstanding: diluted	20,671	16,992

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (5,690)	$ (3,516)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	2,815	1,062
Fair value change in acquisition-related deferred consideration	2,000	0
Fair value change in earnout consideration	(650)	0
Stock-based compensation	948	418
Capitalized Content	(495)	(985)
Amortization of debt issuance costs	353	75
Allowance for content advances	265	(128)
Barter transactions	44	(268)
Interest (discount) expense for term loan	0	(375)
Other	36	104
Changes in operating assets and liabilities:
Accounts receivable	(4,563)	(412)
Other current and long-term assets	(1,752)	(123)
Accounts payable, accrued expenses, and other liabilities	5,600	(10,022)
Content advances	126	(89)
Deferred revenue	(31)	(84)
Net cash (used in) provided by operating activities	(994)	(14,343)
Cash flows from investing activities:
Expenditures for long-lived assets	(272)	(16)
Internally developed software capitalization	(154)	(181)
Purchase of business	(1,525)	0
Net cash used in investing activities	(1,951)	(197)
Cash flows from financing activities:
Proceeds from line of credit	18,785	9,325
Payments on line of credit	(16,862)	(5,697)
Proceeds from issuance of common stock from ATM, net of fees	2,474	0
Payment of deferred consideration	(412)	(95)
Cash paid to acquire noncontrolling interest	(89)	0
Shares withheld for employee taxes	0	(965)
Net cash provided by financing activities	3,896	2,568
Net change in cash and cash equivalents	951	(11,972)
Effect of exchange rate changes on cash and cash equivalents	(19)	16
Cash and cash equivalents at beginning of period	3,387	13,941
Cash and cash equivalents at end of period	4,319	1,985
Supplemental Cash Flow Elements [Abstract]
Cash interest paid	584	35
Income taxes paid	47	26
Noncash investing and financing activities:
Issuance of Common Stock for settlement of deferred consideration	0	2,400
Shares issued to acquire noncontrolling interest	863	0
Payroll tax withholding accrual on equity vesting	929	0
Accrued dividends on preferred stock	81	89
Issuance of Common Stock for payment of accrued preferred stock dividends	$ 89	$ 89

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Current Assets
Cash and cash equivalents	$ 4,319	$ 3,387
Accounts receivable, net of allowance for credit losses of $657 and $622, respectively	43,057	38,604
Content advances, net allowance of $5,768 and $5,503, respectively	6,789	7,507
Other current assets	1,370	1,280
Total current assets	55,535	50,778
Property and equipment, net	4,160	3,906
Intangible assets, net	41,922	44,114
Goodwill	21,293	21,218
Content advances, net of current portion	8,542	8,215
Other long-term assets, net	3,712	2,050
Total Assets	135,164	130,281
Current Liabilities
Accounts payable and accrued expenses	42,948	39,351
Line of credit, net	11,358	9,435
Deferred consideration	15,380	13,800
Current portion of earnout consideration	3,800	0
Current portion of operating lease liabilities	836	298
Deferred revenue	94	125
Total current liabilities	74,416	63,009
Operating lease liabilities, net of current portion	1,289	105
Convertible notes payable, net	12,583	12,545
Earnout consideration, net of current portion	6,800	11,250
Total Liabilities	95,088	86,909
Commitments and contingencies (Note 8)
Stockholders' Equity
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 6 and 7 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively	3,245	3,559
Common stock, $0.001 par value; Class A Stock: 275,000,000 shares authorized as of June 30, 2026 and March 31, 2026; 24,247,336 and 21,362,845 shares issued, with 23,417,021 and 20,532,531 shares outstanding as of June 30, 2026 and March 31, 2026, respectively	516	199
Additional paid-in capital	565,644	564,105
Treasury stock, at cost; with 830,315 shares as of June 30, 2026 and March 31, 2026, respectively	(13,158)	(13,158)
Accumulated deficit	(515,870)	(510,099)
Accumulated other comprehensive loss	(301)	(282)
Total stockholders' equity of Cineverse Corp.	40,076	44,324
Deficit attributable to noncontrolling interest	0	(952)
Total stockholders' equity	40,076	43,372
Total Liabilities and Stockholders' Equity	$ 135,164	$ 130,281