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Cineverse Partners with RetroCrush and VIZ Media for Anime Streaming Deal
Cineverse announced a deal between its anime streaming service and RetroCrush and VIZ Media to add major titles for the first time. This includes the movies from BLEACH, Hunter x Hunter, Pretty Guardian Sailor Moon, NARUTO, as well as TV-series such as Captain Tsubasa, Hikaru no Go, and more. This announcement was made timed to RetroCrush's participation in the annual Anime NYC convention.""We're thrilled to bring such adored anime franchises like Naruto, Pretty Guardian Sailor Moon, BLEACH, Hunter X Hunter, Hikaru no Go, and more to RetroCrush, offering fans the chance to take in some of the best moments these franchises have to offer," said Matt Kodner, Programming Manager for RetroCrush. "This new slate gives fans a chance to revisit beloved characters and franchises while discovering new favorites from VIZ Media's deep anime library, including classic sports titles and hidden gems."
Company Reports Q1 Revenue of $30.6M, Up 175% Year-over-Year
Reports Q1 revenue $30.6M vs. $11.1M last year. CEO Chris McGurk stated: "We registered another very strong quarter: Fueled by the acquisitions of Giant Worldwide and IndiCue, our total revenues increased by 175% and we increased Adjusted EBITDA by $2.6M. This is impressive given that we had no new theatrical film releases during the quarter, and this is also one of our seasonally slowest quarters across all of our business lines. Importantly, technology now continues to be the most important source of revenue for the Company, representing over 60% of our combined revenues, with much of that revenue durable and recurring with long term customers. Going forward, we expect to see more and more of the impact of our cost reduction and synergy program initiatives reflected in our financials as we fully complete the integration of our two key acquisitions, further rationalize the business to focus on our highest potential core products and services, and increase operating margins. We are well on our way to generating our target of $13M in annual cost reductions and synergies, and much of that is expected to be fully recognized during our Fiscal 3rd and 4th quarters...It is also worth emphasizing that we improved operating cash flows by over $13M and should require a far lower CAPEX to generate that cash going forward than in the past. Given that, we reaffirm our FY27 guidance of $115M-$120M in total revenues and $10M-$20M in Adjusted EBITDA."
Still Sees FY27 Adjusted EBITDA at $10M-$20M
Still sees FY27 adjusted EBITDA $10M-$20M.
Dow Jones Falls 44.51 Points Amid Weakness in Tech Stocks
The major averages closed fractionally lower amid another wave of weakness hitting large-cap technology and semiconductor stocks. Of note, President Donald Trump in a social media post threatened a 100% tariff on European countries imposing a digital services tax on American companies.Outside of technology, falling oil prices are acting as a stabilizing force. Crude has moved toward multi-month lows as supply concerns continue easing, helping reduce some inflation pressure and potentially improving the broader economic outlook.Meanwhile, President Trump said on Truth Social that Iran shot "at least four" drones at ships crossing the Strait of Hormuz, with the president saying the U.S. "knocked down" three drones, while one of the drones "solidly" hit the upper deck of a large cargo ship. The drone attacks were "a foolish violation" of the countries' ceasefire agreement, he added.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:On SemiSynapticsin a $7B all-stock transactionFedEx FreightreportedOpenAI is leaning toward waiting until next year for its IPO,Troy Rohrbaugh has become the leading contender to succeed Jamie Dimon as CEO of JPMorgan,Qualcommexecutive vice president Durga Malladithat the company plans to use the new chip technology it created for data centers in smartphones2. WALL STREET CALLS:KeyBancNikeon longer than expected turnaroundCrocsto Overweight at Piper SandlerRobinhoodwith a Buy at BTIGAMHto Outperform at BMO CapitalVisteonto Neutral at Baird3. AROUND THE WEB:Boeinghas secured a $3.62B order from China Southern Airlines for freighter aircraft, including two 777F and five 777-8F models, along with options for three additional 777-8Fs, Bloomberg reportsUnileveris exploring a bid for Thorne, the supplements maker valued at up to $4B, and is among several bidders circling the brand, which has been put up for sale by its private equity owner L Catterton, FT reportsMetais working to replace human moderation with generative AI, FT saysGoogleis asking publishers that test new AI features in Google News to grant it broad rights to their content, including to potentially train AI models, The Information reportsVolkswagenCEO Oliver Blume is targeting a major restructuring that could include cutting up to 100,000 jobs, closing four German plants, and reducing planned five-year investment by about 15% to just over EUR130B, Reuters reports4. MOVERS:FuelCellincreased after Jefferiesthe stock to BuyAcadia Pharmaceuticalsgained after announcing Daybu wasin the EU by CHMPInfleqtionwas higher after Wedbushcoverage of the stock with an Outperform ratingBraksemwas lower in New York after filing for anCapricorfell afterfrom its HOPE-2 open-label extension study and announcing the FDA is planning to convene an advisory committee meeting to discuss the company's BLA for Deramiocel5. EARNINGS/GUIDANCE:Beyond Airand narrowed its guidance for FY26American Outdoor Brands, with CEO Brian Murphy commenting, "we are encouraged by the strength of our brands and the favorable consumer demand reflected in our POS results"Wisereportedand provided guidance for FY27Cineverse, with EPS and revenue higher year-over-yearApogee Enterprises, with CEO Donald Nolan commenting, "Our results for the quarter reflect solid execution as our team effectively navigated a dynamic operating environment"INDEXES:The Dow fell 44.51, or 0.086%, to 51,876.11, the Nasdaq lost 60.99, or 0.24%, to 25,297.62, and the S&P 500 declined 3.47, or 0.047%, to 7,354.02.
Major Averages Edge Higher as Tech Stocks Weaken
The major averages were fractionally higher near noon despite another wave of weakness hitting large-cap technology and semiconductor stocks. Outside of technology, falling oil prices are acting as a stabilizing force. Crude has moved toward multi-month lows as supply concerns continue easing, helping reduce some inflation pressure and potentially improving the broader economic outlook.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:On SemiSynapticsin a $7B all-stock transactionFedEx FreightreportedOpenAI is leaning toward waiting until next year for its IPO,Troy Rohrbaugh has become the leading contender to succeed Jamie Dimon as CEO of JPMorgan,Rocket Labwas selected by NASA tofor two separate NASA missions - PolSIR and TSIS-2 - from early next year2. WALL STREET CALLS:KeyBancNikeon longer than expected turnaroundCrocsto Overweight at Piper SandlerRobinhoodwith a Buy at BTIGAMHto Outperform at BMO CapitalVisteonto Neutral at Baird3. AROUND THE WEB:Boeinghas secured a $3.62B order from China Southern Airlines for freighter aircraft, including two 777F and five 777-8F models, along with options for three additional 777-8Fs, Bloomberg reportsUnileveris exploring a bid for Thorne, the supplements maker valued at up to $4B, and is among several bidders circling the brand, which has been put up for sale by its private equity owner L Catterton, FT reportsMetais working to replace human moderation with generative AI, FT saysGoogleis asking publishers that test new AI features in Google News to grant it broad rights to their content, including to potentially train AI models, The Information reportsVolkswagenCEO Oliver Blume is targeting a major restructuring that could include cutting up to 100,000 jobs, closing four German plants, and reducing planned five-year investment by about 15% to just over EUR 130B, Reuters reports4. MOVERS:FuelCellincreases after Jefferiesthe stock to BuyAcadia Pharmaceuticalsgains after announcing Daybu wasin the EU by CHMPInfleqtionhigher after Wedbushof the stock with an Outperform ratingBraksemlower in New York after filing for anfrom creditorsCapricor (CAPR) falls after presentingfrom its HOPE-2 open-label extension study and announcing the FDA is planning to convene an advisory committee meeting to discuss the company's BLA for Deramiocel5. EARNINGS/GUIDANCE:Beyond Airand narrowed its guidance for FY26American Outdoor Brands, with CEO Brian Murphy commenting, "we are encouraged by the strength of our brands and the favorable consumer demand reflected in our POS results"Wiseand provided guidance for FY27Cineverse, with EPS and revenue higher year-over-yearApogee Enterprises (APOG), with CEO Donald Nolan commenting, ""Our results for the quarter reflect solid execution as our team effectively navigated a dynamic operating environment"INDEXES:Near midday, the Dow was up 0.23%, or 118.98, to 52,039.60, the Nasdaq was up 0.22%, or 56.16, to 25,414.76, and the S&P 500 was up 0.24%, or 17.60, to 7,375.09.
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