Attention Seeking Stock: Chicken Soup for the Soul Entertainment, Inc. (NASDAQ: CSSE)

On 24 Jan 2020, Chicken Soup for the Soul Entertainment, Inc. stock identified change of 24.54% away from 52-week low price and recently located move of -33.40% off 52-week high price. It has market worth of $104.15M and dividend yield of # ref. CSSE stock has been recorded 6.31% away from 50 day moving average and -0.08% away from 200 day moving average. Moving closer, we can see that shares have been trading 6.33% off 20-day moving average.

Chicken Soup for the Soul Entertainment, Inc. (CSSE) recently reported its financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial Highlights

Total revenue of $17.0M, contrast to $6.6M in the year-beforeperiod

Net loss of $13.3M; with a net loss of $12.4M before preferred dividends, contrast to a net loss of $0.2M in the year-before period and a net income of $0.2M before preferred dividends

Adjusted EBITDA was a loss of $0.4M, contrast to positive adjusted EBITDA of $3.4M in the year-before period

Online networks, which includes Crackle, Popcornflix and Pivotshare, generated $14.4M in revenue contrast to $1.8M in the year-before period

“Our record third quarter results show the early promise of our transformation of our company into a leading AVOD network operator,” stated William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “Crackle Plus is performing as predictable, and our new original series ‘Going From Broke’ provides initial evidence of our growing network reach and engagement potential. We are also reinventing our distribution and production business to support our networks under a capital-light model focused on innovative studio launches, library content acquisitions and sponsor-funded original productions. We already see important positive business momentum in the fourth quarter, where we expect to see a combination of all our primary planned pieces in place for the first time, setting the stage for potentially important growth in 2020.”

Gross profit for the quarter ended September 30, 2019 was $3.2M, or 19% of net revenue, contrast to $4.0M, or 62% of net revenue for the year-before period. The reduction in the percentage of gross profit was a result of a raise in online networks revenue which has a lower gross profit percentage.

Operating loss for the quarter ended September 30, 2019 was $9.6M contrast to an operating income of $0.9M for the year-before period. The quarterly operating loss reflects certain non-cash or one-time expenses including $4.7M in non-cash amortization, $1.6M of transitional expenses related to the Crackle Plus joint venture, and $1.2M in film library amortization. If such expenses were excluded from SG&A or cost of revenue, the company would have stated a quarterly operating loss of $2.1M.

Net loss was $13.3M, or $1.11 per share, contrast to a net loss of $0.2M, or $0.02 per share in the prior-year third quarter. Not Including preferred dividends, the net loss in the third quarter of 2019 would have been $12.4M, or about $1.03 per share, contrast to net income of $0.2M, or $0.02 per share last year.

Adjusted EBITDA for the quarter ended September 30, 2019 was a loss of $0.4M, contrast to $3.4M in the same period last year.

As of September 30, 2019, the company had $6.2M of cash and cash equivalents contrast to $7.2M as of December 31, 2018, and outstanding debt of $16.0M as of September 30, 2019 contrast to $7.9M as of December 31, 2018.

 The Services sector company, Chicken Soup for the Soul Entertainment, Inc. noticed change of -0.23% to $8.73 along volume of 18905 shares in recent session compared to an average volume of 12.4K. CSSE’s shares are at -5.72% for the quarter and driving a 12.36% return over the course of the past year and is now at 9.12% since this point in 2018. There are 11.93M shares outstanding and 3.98M shares are floated in market.

 

Gregory Amaral

Gregory Amaral–  Business Stories I am Gregory Amaral with more than 10 years of experience in the Stock market industry, I am energetic about Finance and Business news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of Observednews.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Business News category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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