Cineverse revenue nearly triples to $30.6 million but losses widen alongside $13 million cost-cut push

Cineverse, the streaming distributor behind the Terrifier franchise, saw fiscal Q1 revenue rise 175% to $30.6 million from $11.1 million a year earlier, driven by acquisitions of Giant Worldwide and IndiCue. Net losses widened to 28 cents per share from 21 cents. The company has completed layoffs from its 300-strong workforce and targets $13 million in annualised savings, most by end of September. Shares rose 5% to $3.