‘Terrifier 3’ Shakes Up Cineverse Fall Quarter As Revenue And Profit Soar, ‘Terrifier 4’ Script In The Works
deadline.comArt The Clown exploded the latest quarter for Cineverse as the company’s revenue shot higher to $40.7 million in the last three months of 2024 from $13.3 million the year earlier.
Net income swing to $7.2 million (38 cents a share) from a loss of $2.9 million, (22 cents). “The Company is now in an extremely strong financial position with more than $13 million in cash-on-hand as of today and no debt, having a zero draw on our current $7.5 million line of credit with East West Bank.
We have multiple alternatives to further expand our credit if necessary and have no plans at this time to issue equity to fund our current operations.” The shares, which at this time last year were in danger of falling short of compliance with Nasdaq market’s listing requirements, popped 5% after market to $4.75 on the numbers.
Terrifier franchise creator, writer and director Damien Leone is currently working on script for Terrifier 4, Cineverse CEO Chris McGurk said on a call with analysts.
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