MoviePass' parent company says it lost over $266 million last year

MoviePass' parent company, Helios and Matheson Analytics, reported its 2018 financials to the Securities and Exchange Commission on Wednesday and said that, based on a"preliminary evaluation," itHelios and Matheson has sustained heavy losses since it bought the movie-ticket subscription company in August of 2017 and dropped the monthly price to $10 a month. A corresponding drop in stock price led to HMNY's delisting from the Nasdaq in February after trading below $1 for months.

that MoviePass dropped from over 3 million subscribers to about 225,000, according to leaked internal data.

Who’s on the other side of the $266 million?

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