Cineverse Corp. (CNVS) reported a significant increase in its fourth-quarter losses compared to the same period last year, falling short of Wall Street expectations.
The company's net loss for the quarter amounted to $14.8 million, or $1.10 per share, compared to a loss of $3.2 million, or $0.35 per share, in the fourth quarter of the previous year.
Analysts, on average, had projected a loss of $0.21 per share, based on data from Thomson Reuters. It should be noted that these estimates generally exclude special items.
Revenue for the quarter saw a decline of 20.8%, dropping to $9.9 million from $12.5 million in the same quarter last year.
Summary of Cineverse Corp. Earnings (GAAP):
- **Net Loss (Q4):** $14.8 million vs. $3.2 million last year
- **Earnings Per Share (Q4):** $1.10 loss vs. $0.35 loss last year
- **Revenue (Q4):** $9.9 million vs. $12.5 million last year
