Cineverse reports fourth quarter and fiscal year 2024 results

Total revenue of $49.1 million total direct operating margin increased to 61% from 47% selling, general, and administrative expenses decreased by $8.9 million, or 24% adjusted ebitda of $4.4 million, an increase of $4.3 million from prior year positive working capital of $1.5 million as of year end los angeles , july 1, 2024 /prnewswire/ -- cineverse corp. ("cineverse" or the "company") (nasdaq: cnvs), a global streaming technology and entertainment company, today announced its financial results for the quarter and fiscal year ended march 31, 2024 ("fy 2024").  fy 2024 financial overview (all comparisons are to the prior fiscal year ended march 31, 2023): for the fiscal year ended march 31, 2024, the company's initiatives to reduce operating costs, optimize our streaming channel portfolio and increase margins continued to have a positive impact on our financial results contributing to adjusted ebitda of $4.4 million for the year, up $4.3 million over the prior year.
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