Cineverse reported a net loss of $5.7 million in the second quarter, ending on Sept. 30, compared to a loss of $1.4 million in the same period last year. Revenue was $12.4 million, slightly lower than the previous year’s $12.7 million.

While streaming and digital revenue decreased by 5% to $9.6 million, base distribution revenue rose by 39% to $1.8 million, mainly due to the theatrical release of ‘The Toxic Avenger Unrated’ starring Peter Dinklage.

The increase in operating expenses by 79% to $11.4 million was attributed to higher compensation, marketing, and professional services costs. This was in preparation for an expanded theatrical slate for the rest of 2025 and the launch of the ‘MicroCo’ short-form video content venture.

CEO Chris McGurk mentioned that despite ‘The Toxic Avenger Unrated’ not meeting box office expectations, it performed well in ancillary markets like VOD, physical goods, and licensing. With an investment of under $5 million, the movie is expected to be profitable with an internal rate of return exceeding 40%.

Cineverse also revealed plans to release the 20th-anniversary edition of ‘Pan’s Labyrinth’ in Fall 2026, following its success at the Cannes Film Festival in 2006. The company’s content library, valued at $45 million, is seen as a valuable asset.

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