Chicken Soup for the Soul Entertainment shares plunge on plan to sell stock as quarterly loss widens

Glimpse Group Inc

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Company profile

The Glimpse Group, Inc. is a virtual (VR) and augmented (AR) reality platform company which is comprised of a diversified portfolio of wholly owned VR and AR software and services companies. Its platform of VR/AR collaborates with the environment and diversified business model and helps in the challenges faced by entrepreneurs in the VR/AR industry. It develops, commercializes, and markets VR/AR software products, solutions, and intellectual property (IP). The Company’s core services include marketing, visualization, learning and training, and collaboration. Its marketing services include virtual events and launches, AR activations, and AR virtual try-on. Its VR/AR platforms offer comprehensive professional training, and orientation for new employees. It serves various sectors, such as food and hospitality, marketing, healthcare, data visualization, and higher education. VR/AR technology enhances industry conferences, corporate events, and meetings both personal and professional.

Chicken Soup for the Soul Entertainment shares plunge on plan to sell stock as quarterly loss widens

4:46 am ET March 31, 2023 (MarketWatch) Print

Chicken Soup for the Soul Entertainment (CSSE) shares plunged 25% in premarket trade as it said it would sell stock and reported a loss for the fourth quarter. The operator of Redbox, Crackle, and Chicken Soup for the Soul streaming services said its fourth-quarter loss widened to $56.3 million, or $2.70 a share, from $22.4 million, or $1.38 a share, in the year-earlier period. Revenue rose to $113.6 million from $36.0 million. Analysts polled by FactSet had expected a loss of $1.22 a share on revenue of $112.6 million. The company expects adjusted EBITDA of between $100 million and $150 million on revenue of approximately $500 million this year,

-Steve Goldstein

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March 31, 2023 04:46 ET (08:46 GMT)

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Chicken Soup for the Soul Entertainment shares plunge on plan to sell stock as quarterly loss widens