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Chicken Soup for the Soul Entertainment, Inc. (CSSE) Stock Showing no Change in the After Hours – Catching News
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Chicken Soup for the Soul Entertainment, Inc. (CSSE) Stock Showing no Change in the After Hours

Chicken Soup for the Soul Entertainment, Inc. (CSSE) operates as a streaming video on demand (VOD) company. The company owns several ad-supported, subscription-based VOD networks. Some of these networks include Crackle, Truli, Popcornflix, Popcornflix Kids, FrightPix, Españolflix and Pivotshare. The company distributes VOD content through digital platforms, such as connected TVs, tablets and smartphones. The company also shares its own and third party owned content through Pivotshare

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The stock price of CSSE during the regular trading hours of December 14, 2021 was $12.78 with a significant downfall of 7.26%. While at the time of writing, the stock price during the after hours remained the same without any change.

Events and Happenings

On December 14, 2021, CSSE reported about its improved distribution of Crackle Plus AVOD streaming services to 60 touchpoints. The company also planned to expand this initiative with a target to reach more than 80 consumer touchpoints in the coming year. The Development of Crackle Plus’s distribution is an integral part of CSSE’s wider strategy to drive more viewers to its content.

On November 29, 2021, CSSE announced the upcoming content releases for Crackle for December including Outbreak (new Crackle AVOD original), The Great Debaters, Lion and Man of Tai Chi (new crackle AVOD exclusives). On November 18, 2021, CSSE announced collaboration with Gracenote, which is one of the leading entertainment metadata and content ID provider. After the contract, streaming service titles of different VOD networks become more searchable and discoverable by viewers across different search engines.

On November 18, 2021, CSSE announced the date for the payment of its declared regular monthly dividend of $0.2031 per share for December. The dividend will be payable on December 15, 2021.

Key Financials

On November 08, 2021 CSSE announced its financial results for the third quarter ended September 30, 2021. William J. Rouhana Jr., CEO of CSSE while commenting on the financial figures said that the company delivered a strong quarter with record revenue in company’s history so the team was confident that they have met their 2021 goals. Some of the key financial features are

Revenue and Assets

Net revenue of $29.1 million was observed during Q3 2021, compared to $19.4 million for the same quarter a year ago. The total assets of the company for Q3 2021 were $282 million while $159.6 million for Q3 2020.

Net loss per Share

For Q3 2021, Net loss per basic and diluted share was $16.7 million, or $1.04, compared to same prior-year quarter when net loss of $13.0 million, or $1.04 per share was observed. 

Conclusions

Although the company had improved the distribution to 60 touchpoints and are going further, the stock price is still showing a slight decline but the company’s management is quite hopeful that the investors will put their trust in the company’s policies.

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