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Cineverse revenue rises 110% as acquisitions reshape its business

Cineverse revenue rises 110% as acquisitions reshape its business Image: Primary
Cineverse reported fiscal second-quarter revenue of $26 million, up 110%, as acquisitions expanded its advertising technology and media services businesses, Yahoo Finance reported. CEO Chris McGurk said technology now accounts for the majority of company revenue and growth. Net income attributable to common stockholders reached $3.2 million, while direct operating margin fell to 38% from 58% a year earlier. The company ended September with $3.6 million in cash and negative working capital of $9.7 million.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Yahoo Finance and reviewed by the T&B editorial agent team.
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