The company's financial position is strained by an accumulated deficit of $511.2 million and a tightening liquidity buffer, with cash reserves falling to $2.5 million as of 2026Q3.
| Metric | TTM | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 |
|---|
| Total Current Assets | 29.23M | 38.08M | 32.72M | 37.58M | 52.16M | 43.14M | 61.06M | 64.88M | 74.17M | 86.45M | 101.84M | 106.94M | 135.72M | 58.97M | 63.39M | 65.51M | 45.95M | 46.53M | 62.88M | 53.62M | 68.69M | 7.04M | 3.14M | 1.33M |
| Cash & Short-Term Investments | 2.46M | 13.94M | 5.17M | 7.15M | 13.06M | 16.85M | 14.29M | 17.87M | 17.95M | 12.57M | 25.48M | 19M | 50.22M | 13.45M | 27.32M | 17.23M | 15.02M | 15.83M | 29.66M | 29.38M | 60.64M | 4.78M | 2.33M | 956K |
| Cash Only | 2.46M | 13.94M | 5.17M | 7.15M | 13.06M | 16.85M | 14.29M | 17.87M | 17.95M | 12.57M | 25.48M | 19M | 50.22M | 13.45M | 17.84M | 10.75M | 9.09M | 15.83M | 29.66M | 29.38M | 36.64M | 4.78M | 2.33M | 956K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.48M | 6.48M | 5.93M | 0 | 0 | 0 | 24M | 0 | 0 | 0 |
| Accounts Receivable | 17.4M | 15.83M | 16.78M | 24.97M | 35.88M | 23.47M | 38.3M | 41.19M | 49.7M | 63.66M | 63.76M | 70.51M | 67.78M | 40.23M | 32.51M | 20.1M | 18.34M | 17.55M | 28.05M | 20.93M | 2.67M | 1.5M | 509K | 41K |
| Days Sales Outstanding | 103.97 | 73.91 | 124.64 | 133.96 | 233.63 | 272.68 | 355.75 | 280.84 | 268.04 | 257.04 | 222.8 | 243.97 | 237.15 | 181.06 | 155 | 125.56 | 96.95 | 82.67 | 126.4 | 162.15 | 57.96 | 51.3 | 25.8 | 3.54 |
| Inventory | 0 | 0 | 0 | 207K | 116K | 166K | 582K | 673K | 792K | 1.14M | 2.02M | 3.21M | 3.16M | 127K | 0 | 0 | 0 | 0 | 0 | 9K | 12K | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | 2.08 | 2.03 | 3.76 | 12.39 | 15.24 | 14.81 | 16.52 | 23.57 | 38.91 | 39.93 | 5.44 | - | - | - | - | - | 0.15 | 0.38 | - | - | - |
| Other Current Assets | 1.42M | 1.57M | 1.43M | 4.14M | 2.12M | 1.84M | 7.24M | 4.05M | 4.49M | 8.12M | 0 | 0 | 278K | 2.28M | 2.68M | 27.21M | 11.28M | 11.59M | 3.86M | 2.33M | 4.74M | 0 | 8K | 43K |
| Total Non-Current Assets | 39.34M | 34.44M | 31.66M | 50.5M | 52.47M | 32.3M | 49.38M | 33.96M | 47.01M | 64.88M | 107.55M | 166.07M | 221.52M | 222.49M | 226.74M | 241.98M | 251.19M | 275.86M | 310.8M | 248.11M | 55.26M | 30.74M | 18.03M | 8.57M |
| Property, Plant & Equipment | 3.97M | 2.88M | 3.11M | 3.1M | 1.98M | 3.6M | 9.18M | 14.05M | 21.48M | 33.14M | 61.74M | 98.56M | 134.94M | 170.09M | 200.97M | 216.56M | 215.6M | 237.54M | 269.03M | 197.45M | 32.43M | 14.26M | 5.87M | 5.13M |
| Fixed Asset Turnover | 16.50x | 27.18x | 15.80x | 21.96x | 28.31x | 8.73x | 4.28x | 3.81x | 3.15x | 2.73x | 1.69x | 1.07x | 0.77x | 0.48x | 0.38x | 0.27x | 0.32x | 0.33x | 0.30x | 0.24x | 0.52x | 0.75x | 1.23x | 0.82x |
| Goodwill | 6.8M | 6.8M | 6.8M | 20.82M | 21.08M | 8.7M | 8.7M | 8.7M | 8.7M | 8.7M | 8.7M | 26.7M | 25.49M | 8.54M | 5.76M | 5.76M | 5.87M | 6.26M | 14.55M | 13.25M | 9.12M | 0 | 0 | 0 |
| Intangible Assets | 17.73M | 18.17M | 18.33M | 19.87M | 20.03M | 9.86M | 0 | 0 | 0 | 0 | 25.94M | 31.78M | 37.64M | 12.8M | 5.62M | 697K | 11.55M | 14.36M | 16.37M | 22.27M | 3.48M | 13.7M | 9.58M | 2.31M |
| Long-Term Investments | 818K | 200K | 362K | 5.2M | 7.03M | 6.44M | 24.43M | 1M | 1M | 1M | 8.98M | 7.97M | 8.25M | 1.81M | 1.49M | 0 | 2M | 385K | 408K | 3.32M | 0 | 69K | 0 | 0 |
| Other Non-Current Assets | 10.63M | 6.39M | 3.06M | 1.42M | 2.35M | 3.7M | 143K | 526K | 1.18M | 1.82M | 2.19M | 1.05M | 15.21M | 29.25M | 12.89M | 18.96M | 16.16M | 17.32M | 10.44M | 11.82M | 10.22M | 2.71M | 2.59M | 1.13M |
| Total Assets | 68.57M | 72.52M | 64.38M | 88.08M | 104.64M | 75.45M | 110.44M | 98.84M | 121.18M | 151.33M | 209.4M | 273.02M | 357.25M | 281.46M | 290.14M | 307.49M | 297.15M | 322.4M | 373.68M | 301.73M | 123.95M | 37.78M | 21.18M | 9.89M |
| Asset Turnover | 0.84x | 1.08x | 0.76x | 0.77x | 0.54x | 0.42x | 0.36x | 0.54x | 0.56x | 0.60x | 0.50x | 0.39x | 0.29x | 0.29x | 0.26x | 0.19x | 0.23x | 0.24x | 0.22x | 0.16x | 0.14x | 0.28x | 0.34x | 0.43x |
| Asset Growth % | -1.29% | 12.64% | -26.91% | -15.82% | 38.69% | -31.69% | 11.74% | -18.44% | -19.92% | -27.73% | -23.3% | -23.58% | 26.93% | -2.99% | -5.64% | 3.48% | -7.83% | -13.72% | 23.85% | 143.43% | 228.1% | 78.4% | 114.02% | - |
| Total Current Liabilities | 30.65M | 34.44M | 31.25M | 45.33M | 56.99M | 57.38M | 128.01M | 113.71M | 76.33M | 101.86M | 100.83M | 137.81M | 140.73M | 77.7M | 60.44M | 51.79M | 46.79M | 51.93M | 48.84M | 40.49M | 16.74M | 5.3M | 2.93M | 2.28M |
| Accounts Payable | 17.2M | 7.3M | 5.8M | 15.04M | 34.18M | 30.11M | 70.31M | 61M | 60.82M | 65.47M | 30.87M | 30.9M | 36.8M | 18.09M | 15.66M | 4.88M | 2.77M | 5.63M | 18.18M | 28.93M | 13.25M | 2.42M | 1.37M | 792K |
| Days Payables Outstanding | 140.51 | 68.7 | 110.73 | 150.98 | 597.04 | 682.51 | 1.5K | 1.38K | 1.14K | 951.23 | 359.47 | 374.63 | 464.49 | 775.39 | 811.58 | 411.2 | 61.12 | 95.91 | 249.78 | 475.37 | 418.69 | 151.69 | 136.46 | 93.22 |
| Short-Term Debt | 8.57M | 0 | 6.3M | 4.92M | 0 | 9.74M | 48.69M | 43.32M | 5.29M | 25.66M | 29.07M | 57.27M | 53.04M | 34.45M | 35.64M | 28.48M | 26.7M | 25.56M | 17.33M | 2.56M | 1.29M | 1.85M | 765K | 1.41M |
| Deferred Revenue (Current) | 339K | 183K | 436K | 226K | 196K | 924K | 1.65M | 1.69M | 1.82M | 2.46M | 2.9M | 2.76M | 3.21M | 1.84M | 3.68M | 3.06M | 5.88M | 5.53M | 6.2M | 8.87M | 738K | 884K | 755K | 76K |
| Other Current Liabilities | 3.34M | 4.35M | 7.3M | 9.07M | 8.02M | 3M | 5.09M | 4.28M | 5.78M | 6.53M | 2.58M | 1.21M | 554K | 2.67M | 2.32M | 13.95M | 6.26M | 6.18M | 0 | -8.31M | -4.25M | 158K | 40K | 0 |
| Current Ratio | 0.95x | 1.11x | 1.05x | 0.83x | 0.92x | 0.75x | 0.48x | 0.57x | 0.97x | 0.85x | 1.01x | 0.78x | 0.96x | 0.76x | 1.05x | 1.26x | 0.98x | 0.90x | 1.29x | 1.32x | 4.10x | 1.33x | 1.07x | 0.58x |
| Quick Ratio | 0.95x | 1.11x | 1.05x | 0.82x | 0.91x | 0.75x | 0.47x | 0.56x | 0.96x | 0.84x | 0.99x | 0.75x | 0.94x | 0.76x | 1.05x | 1.26x | 0.98x | 0.90x | 1.29x | 1.32x | 4.10x | 1.33x | 1.07x | 0.58x |
| Cash Conversion Cycle | -36.53 | - | - | -14.94 | -361.39 | -406.07 | -1.13K | -1.09K | -854.23 | -677.67 | -113.09 | -91.74 | -187.41 | -588.89 | - | - | - | - | - | -313.07 | -360.35 | - | - | - |
| Total Non-Current Liabilities | 183K | 289K | 978K | 3.67M | 6.69M | 2.18M | 1.71M | 21.69M | 67.15M | 120.18M | 181.59M | 154.34M | 206.29M | 221.07M | 241.17M | 253.91M | 239.07M | 231.68M | 256.83M | 170.44M | 8.73M | 21.43M | 8.65M | 3.07M |
| Long-Term Debt | 182K | 0 | 0 | 0 | 0 | 2.15M | 0 | 19.13M | 63.01M | 114.44M | 170.18M | 139.39M | 188.3M | 203.46M | 222.7M | 242.24M | 216.46M | 225.97M | 250.74M | 164.2M | 1.95M | 12.68M | 5.59M | 1.73M |
| Capital Lease Obligations | 943K | 275K | 462K | 863K | 491K | 13K | 684K | 0 | 0 | 0 | 3.88M | 4.86M | 5.47M | 4.39M | 5.24M | 0 | 38K | 125K | 5.81M | 5.9M | 5.98M | 6.06M | 35K | 252K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 90K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 801K | 1.21M | 1.52M | 0 |
| Other Non-Current Liabilities | -181K | 14K | 516K | 2.72M | 6.2M | 19K | 110K | 205K | 306K | 408K | 0 | 0 | 0 | 2.29M | 1.77M | 1.98M | 20.74M | 4.53M | 0 | 337K | 0 | 1.48M | 1.51M | 1.09M |
| Total Liabilities | 30.83M | 34.72M | 32.23M | 49.01M | 63.69M | 59.56M | 129.73M | 135.41M | 143.49M | 222.04M | 282.43M | 292.15M | 347.02M | 298.77M | 301.61M | 305.7M | 285.86M | 283.61M | 305.67M | 210.92M | 25.47M | 26.73M | 11.59M | 5.36M |
| Total Debt | 8.94M | 462K | 7.16M | 6.21M | 749K | 11.99M | 49.97M | 62.45M | 68.29M | 140.16M | 203.47M | 202.15M | 247.43M | 242.43M | 263.77M | 270.74M | 243.33M | 251.72M | 273.97M | 172.65M | 9.21M | 20.59M | 6.39M | 3.4M |
| Net Debt | 6.47M | -13.48M | 2M | -947K | -12.31M | -4.86M | 35.67M | 44.58M | 50.34M | 127.6M | 177.99M | 183.15M | 197.22M | 228.98M | 245.93M | 259.99M | 234.24M | 235.89M | 244.31M | 143.28M | -27.43M | 15.81M | 4.06M | 2.44M |
| Debt / Equity | 0.24x | 0.01x | 0.22x | 0.16x | 0.02x | 0.76x | - | - | - | - | - | - | 24.19x | - | - | 151.50x | 21.55x | 6.49x | 4.03x | 1.90x | 0.09x | 1.86x | 0.67x | 0.75x |
| Debt / EBITDA | -2.78x | 0.04x | 3.42x | - | 0.13x | - | 9.91x | 7.68x | 3.65x | 3.49x | 9.23x | 5.85x | 5.12x | 4.68x | 4.80x | 5.85x | 6.58x | 7.60x | 9.70x | 337.21x | - | - | 20.95x | - |
| Net Debt / EBITDA | -2.01x | -1.15x | 0.95x | - | -2.20x | - | 7.07x | 5.48x | 2.69x | 3.17x | 8.07x | 5.30x | 4.08x | 4.42x | 4.47x | 5.62x | 6.33x | 7.12x | 8.65x | 279.84x | - | - | 13.31x | - |
| Interest Coverage | -4.72x | 1.89x | -18.94x | -6.42x | 5.17x | -14.47x | -0.99x | -0.55x | -0.27x | 0.22x | -1.04x | -0.46x | 0.29x | 0.11x | 0.53x | 0.36x | 0.01x | 0.04x | -0.15x | -1.94x | -2.53x | -3.97x | - | - |
| Total Equity | 37.74M | 37.79M | 32.15M | 39.07M | 40.95M | 15.88M | -19.29M | -36.57M | -22.3M | -70.7M | -73.03M | -19.14M | 10.23M | -17.31M | -11.47M | 1.79M | 11.29M | 38.79M | 68.01M | 90.81M | 98.48M | 11.05M | 9.59M | 4.54M |
| Equity Growth % | 72.96% | 17.55% | -17.72% | -4.58% | 157.84% | 182.35% | 47.26% | -63.95% | 68.45% | 3.18% | -281.6% | -287.12% | 159.07% | -50.91% | -742.03% | -84.17% | -70.89% | -42.97% | -25.11% | -7.79% | 791.47% | 15.19% | 111.28% | - |
| Book Value per Share | 1.96 | 2.12 | 2.62 | 4.40 | 4.71 | 2.49 | -8.77 | -19.29 | -19.31 | -175.68 | -225.81 | -49.85 | 35.83 | -72.87 | -63.28 | 11.61 | 78.90 | 282.33 | 531.79 | 765.33 | 1398.28 | 228.51 | 397.38 | 299.82 |
| Total Shareholders' Equity | 38.57M | 38.75M | 33.27M | 40.34M | 42.25M | 17.24M | -18.01M | -35.28M | -21.05M | -69.49M | -71.84M | -18.96M | 10.23M | -17.31M | -11.47M | 1.79M | 11.29M | 38.79M | 68.01M | 90.81M | 98.48M | 11.05M | 9.58M | 4.54M |
| Common Stock | 197K | 194K | 194K | 185K | 174K | 164K | 62K | 36K | 35K | 12K | 9K | 77K | 76K | 48K | 38K | 32K | 29K | 28K | 27K | 25K | 23K | 10K | 8K | 3K |
| Retained Earnings | -511.25M | -500.91M | -504.15M | -482.39M | -472.31M | -474.08M | -410.9M | -395.81M | -379.23M | -360.42M | -342.45M | -300.35M | -268.69M | -242.47M | -221.04M | -197.65M | -168.02M | -138.11M | -100.69M | -65M | -38.3M | -21.49M | -14.7M | -9.89M |
| Treasury Stock | -13.16M | -12.19M | -11.98M | -11.61M | -11.61M | -11.6M | -11.6M | -11.6M | -11.6M | 0 | -2.84M | -172K | -172K | -172K | -172K | -172K | -172K | -172K | -172K | -172K | -172K | -172K | 0 | 0 |
| Accumulated OCI | -279K | -305K | -345K | -402K | -163K | -68K | 92K | 10K | -38K | -38K | -64K | -57K | -69K | 0 | 0 | -95K | -67K | 0 | 0 | 0 | 0 | 0 | 0 | -11K |
| Minority Interest | -823K | -960K | -1.12M | -1.26M | -1.3M | -1.36M | -1.28M | -1.29M | -1.25M | -1.21M | -1.19M | -178K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10K | 0 |
Persistent Liquidity and Solvency
As reported in recent financial filings, Cineverse's total assets have declined from $84.7 million in 2024Q2 to $68.6 million by 2026Q3, signaling a shrinking capital base that reflects the company's ongoing struggle to maintain scale during its transition to a streaming-first business model.
The consistent reduction in total assets suggests that the company is struggling to replace legacy value with high-quality digital assets. Investors should monitor whether this downward trajectory in asset volume indicates a permanent loss of market relevance or merely a necessary shedding of non-core legacy infrastructure.
Based on the company's reported figures, the current ratio has hovered near or below 1.00 for most of the last ten quarters, with cash reserves falling to $2.5 million in 2026Q3, indicating a precarious liquidity position that leaves little room for operational volatility.
A current ratio of 0.95 in the most recent quarter suggests that current liabilities are outpacing liquid assets, which may necessitate future capital raises or aggressive working capital management. This thin margin of safety appears to limit the company's ability to absorb unexpected shocks in the competitive FAST streaming market.
According to the balance sheet data, Cineverse has accumulated a staggering deficit of $511.2 million in retained earnings as of 2026Q3, which highlights the severe and persistent erosion of shareholder equity resulting from years of operating losses and strategic restructuring efforts.
The massive negative retained earnings balance suggests that the company has historically failed to generate sufficient returns on invested capital to build a sustainable equity base. This persistent deficit warrants further investigation into the company's long-term viability and its ability to eventually achieve positive book value growth.
As indicated in the provided financial statements, the company's goodwill balance dropped from $20.8 million in 2024Q3 to $6.8 million by 2026Q3, suggesting that previous acquisitions may have been overvalued and subsequently impaired, potentially masking the true extent of the company's historical capital misallocation.
The significant impairment of goodwill implies that the company's past growth-by-acquisition strategy may not have delivered the expected synergies or market positioning. Analysts should remain cautious, as further write-downs of remaining intangible assets could continue to pressure the balance sheet and further erode shareholder equity.
Quick answers to the most common questions about buying CNVS stock.
As of 2025, Cineverse Corp. (CNVS) had total assets of $72.5M including $38.1M in current assets.
Cineverse Corp. (CNVS) carries total debt of $0.5M, offset by $13.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cineverse Corp. (CNVS) has total shareholders' equity (book value) of $38.8M ($2.12 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cineverse Corp. (CNVS) reported a current ratio of 1.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.