Cineverse reports first quarter fiscal year 2025 results

Total revenue of $9.1 million total direct operating margin of 51% selling, general, and administrative expenses decreased by $1.3 million, or 17% los angeles , aug. 14, 2024 /prnewswire/ -- cineverse corp. ("cineverse" or the "company") (nasdaq: cnvs), a global streaming technology and entertainment company, today announced its financial results for its fiscal first quarter ended june 30, 2024 ("q1 fy 2025").  q1 fy 2025 highlights (all comparisons are to the prior year fiscal quarter ended june 30, 2023, or q1 fy 2024):  for the fiscal quarter ended june 30, 2024, the company's initiatives to reduce operating costs continued to have a positive impact on our financial results contributing to a decrease in sg&a expenses of $1.3 million, or 17% and also helped increase our direct operating margin to 51% from 46% last year, above our previously stated target of 45% to 50%.
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