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Cinedigm Corp. (CIDM) Stock Up in Aftermarket After Financials Release

Cinedigm Corp. (CIDM) is digitally transforming the entertainment industry. The company entertains customers internationally by providing top-quality feature films and TV series and tech services to the leading media and retail companies. The company utilizes next-generation technologies i.e., AI and ML, via its exclusive, highly-scalable Matchpoint tech portfolio.

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The price of CIDM stock during regular trading on February 14, 2022, was $0.79 with a 3.53% decline. At last check in the aftermarket, the stock rocketed by 18.3%.

CIDM: Key Financials

On February 14, 2022, CIDM released its financial results for the three months ended December 31, 2021. Some of the highlights are discussed below.

Revenue

Revenues in the quarter were recorded to be $14.1 million corresponding to $9.95 million in the same period of 2020. The company reported a revenue increase of 42% over the year-ago quarter. The analysts’ estimated revenue of $11.9 million and the company topped the analysts’ estimates.

EPS

Basic and diluted net loss per share in the quarter was $0.5 million or nil compared to $9.7 million or $0.07 in the same quarter of 2020. The company observed an improvement of $9.2 million in EPS over the prior-year quarter. The estimated EPS for the quarter was -$0.02 and the company topped the analysts’ estimates.

CIDM: Events and Happenings

On January 31, 2022, CIDM updated that Fandor will release six new exclusive premieres in February, available via Fandor’s subscription-based streaming service. Fandor is the premium streaming destination for Cinephiles. On January 27, 2022, CIDM reported that the soccer-centric platform Realmadrid TV was launched on Pluto TV.

On January 24, 2022, CIDM announced its entry into collaboration with Nreal to bring CIDM’s three most viewed channels to Nreal’s AR ‘TV’ application. On January 20, 2022, CIDM informed that Comedy Dynamics had launched Samsung’s free content streaming portfolio on Samsung TV Plus. On January 19, 2022, CIDM updated about its content contracts with two major cable networks. The company signed a contract with The Africa Channel and Salt + Light Media to bring some of its most popular films to a range of audiences.

Conclusion

CIDM stock downplayed by 52% over the past six months period. The company’s recent stock incline is the result of strong quarterly results as the company topped the analysts’ estimates in revenue and EPS. The analysts are hopeful that with continuous content creation, the company is delivering its best to its customer base.

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