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Earnings analysis · 10-Q

CNVS earnings analysis

Filed August 13, 2026 · Our reading of the company's report

The latest report

Revenue grew 62.5% year over year to $26 million and diluted EPS improved to $0.08 from $0.04, but profitability and cash generation weakened materially. Gross margin declined to 40.0% from 54.8% a year earlier,…

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Revenue grew 62.5% year over year to $26 million and diluted EPS improved to $0.08 from $0.04, but profitability and cash generation weakened materially. Gross margin declined to 40.0% from 54.8% a year earlier, operating margin fell to negative 20.8% from positive 13.7%, and free cash flow was negative $7 million versus positive $12 million. The 10-Q provides no quantitative guidance and reports no material changes to the prior 10-K risk factors.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $60 Operating expenses $61 Left as operating profit $-21

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$0.08

What stood out

  • Revenue grew 62.5% sequentially

    Revenue increased to $26 million from $16 million in 2026Q3, a 62.5% sequential increase, and was also up 62.5% from $16 million in 2025Q4.

  • EPS returned to positive territory

    Diluted EPS improved to $0.08 from a $(0.05) loss in 2026Q3 and $0.04 in 2025Q4.

  • Revenue growth came with margin pressure

    Gross margin was 40.0%, representing a 29.0 percentage-point decline from 69.0% in 2026Q3, but remained below the prior-year level of 54.8%.

  • No new material risk-factor changes

    The filing reports no material changes to the risk factors disclosed in the fiscal-year 2026 Form 10-K, which covered the year ended March 31, 2026.

What to watch

  • Operating losses widened

    Operating margin deteriorated to negative 20.8% from negative 4.0% in 2026Q3 and positive 13.7% in 2025Q4, indicating that the quarter's revenue growth did not translate into operating profitability.

  • Cash generation remained negative

    Free cash flow was negative $7 million, versus negative $2 million in 2026Q3 and positive $12 million in 2025Q4, signaling weaker cash generation despite the EPS improvement.

  • Sharp gross-margin contraction

    Gross margin fell to 40.0% from 69.0% sequentially and 54.8% year over year, creating material pressure on operating leverage.

  • No quantified new risk disclosed

    The 10-Q states there were no material changes to the risk factors in Item 1A of the March 31, 2026 Form 10-K; therefore, this filing does not identify a newly added or modified risk with a quantified impact.

Management's outlook

The 10-Q does not provide quantitative revenue or EPS guidance. Previously reported FY2027 outlook was discussed outside this filing.

Earlier filings 1

10-K · June 26, 2026

Cineverse Corp. reported a decline in revenue for the year ended March 31, 2026, totaling $65.7 million, a decrease of 16% from the previous year, primarily due to a reduction in base distribution and streaming…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.