Cinedigm Corp. (CIDM) shares surged 0.50% in after-hours on Thursday, September 02, 2021, and closed the daily trading at $2.01. In the regular trading session, CIDM’s stock lost 3.85%. CIDM shares have risen 177.78% over the last 12 months, and they have moved up 15.61% in the past week. Over the past three months, the stock has gained 23.46%, while over the past six months, it has surged 83.49%.
Let’s have a look at its recent news and developments.
CIDM recent financial results announcement
On September 2, 2021, Cinedigm Corp (CIDM) announced its preliminary, unaudited, results for the period ended June 30, 2021.
Q1 2022 financial highlights
- CIDM earned revenue of $15.0 million for Q1 2022.
- It reported a net income of $5.0 million, or $0.03 per share in Q1 2022 compared to a net loss of $19.9 million, or $0.21 per share in Q1 2021.
Cinedigm will host a conference call on Friday to provide complete results at 4:30 pm ET / 1:30 pm PT.
Notice from Nasdaq for CIDM
On September 2, 2021, Cinedigm (CIDM) announced that on August 27, 2021, it received a notice from The Nasdaq Stock Market LLC indicating that it was no longer in compliance with Nasdaq Listing Rule 5250(c)(1) due to the failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021.
CIDM four new channels
On August 24, 2021, Cinedigm (CIDM) announced that four of their newest channels are now available on The Roku Channel, the home of free and premium entertainment on the Roku® platform. Cinedigm’s launch includes sports-centric Real Madrid TV, reality powerhouses So…Real and The Only Way Is Essex as well as Robert Rodriguez’s El Rey Network.
CIDM Partnership with All3Media International
On August 23, 2021, Cinedigm (CIDM) announced a deal to launch The Only Way Is Essex (TOWIE) channel, in partnership with All3Media International. The new 24/7 streaming channel will feature 13 seasons of the British reality series. The service will be available in the United States & Canada for linear and AVOD platforms on connected TVs, digital set-top boxes, media-streaming devices, as well as the web.
CIDM new appointment
On August 10, 2021, Cinedigm (CIDM) appointed Ashok Amritraj to the Cinedigm Board of Directors, effective immediately.
Amritraj is Chairman and CEO of Hyde Park Inc. and brings an exceptionally diverse resume that has seen him wearing the whites of Wimbledon, excelling as an award-winning producer and serving as a United Nations India Goodwill Ambassador.
Conclusion
The recent financial results could be the reason behind its minor gains on Thursday’s after-hours. The company has not provided the details and will announce the complete financial results in a conference call on Friday. so, we can expect it to surge on Friday as well.
