MoviePass posts huge quarterly loss, shareholders sue

MoviePass parent Helios and Matheson has quietly posted its quarterly earnings report, revealing that operating losses have ballooned from less than $3 million this quarter last year to $126.6 million in the three-month period ending June 30, 2018. Losses undoubtedly stem from MoviePass' struggle to generate revenue from its theater subscription service, which launched just under a year ago for $9.95 a month after the company sold a majority of its stake to Helios and Matheson.

The report also shows that the MoviePass parent burned through more than $219 million in Q2 2018 — or approximately $73 million a month — and has only $51.4 million in assets left. That run rate is more than triple the $21...

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