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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Mar. 31, 2024
Current Assets    
Cash and cash equivalents $ 6,083 $ 5,167
Accounts receivable, net of allowance for credit losses of $151 and $269, respectively 33,938 15,106
Employee retention tax credit 79 1,671
Content advances 8,825 9,345
Other current assets 1,559 1,432
Total current assets 50,484 32,721
Property and equipment, net 2,927 2,276
Intangible assets, net 17,840 18,328
Goodwill 6,799 6,799
Content advances, net of current portion 1,431 2,551
Other long-term assets 1,061 1,703
Total Assets 80,542 64,378
Current Liabilities    
Accounts payable and accrued expenses 35,974 20,817
Line of credit, including unamortized debt issuance costs of $153 and $81, respectively 3,847 6,301
Current portion of deferred consideration on purchase of business 3,369 3,114
Earnout consideration on purchase of business   180
Current portion of operating lease liabilities 207 401
Deferred revenue 331 436
Total current liabilities 43,728 31,249
Deferred consideration on purchase of business, net of current portion   457
Operating lease liabilities, net of current portion 324 462
Other long-term liabilities 27 59
Total Liabilities 44,079 32,227
Commitments and contingencies (see Note 6)
Stockholders’ Equity    
Preferred stock, 15,000,000 shares authorized; Series A 10% - $0.001 par value per share; 20 shares authorized; 7 shares issued and 7 shares outstanding at December 31, 2024 and March 31, 2024 3,559 3,559
Common Stock, $0.001 par value; Class A Stock: 275,000,000 shares authorized as of December 31, 2024 and March 31, 2024; 16,462,308 and 15,985,620 shares issued, with 15,958,489 and 15,699,135 shares outstanding as of December 31, 2024 and March 31, 2024, respectively 194 194
Additional paid-in capital 547,843 545,996
Treasury stock, at cost; 503,819 and 288,554 shares as of December 31, 2024 and March 31, 2024, respectively (12,193) (11,978)
Accumulated deficit (501,667) (504,153)
Accumulated other comprehensive loss (306) (345)
Total stockholders' equity of Cineverse Corp. 37,430 33,273
Deficit attributable to noncontrolling interest (967) (1,122)
Total equity 36,463 32,151
Total Liabilities and Equity $ 80,542 $ 64,378