^ I am a bit curious, why did the movie bombed at the Box office ? and if it did then why is it regarded as a cult movie ?
There is only one reason I can give for why - people who watched it, didn't like it! That's usually always the single reason why movies fail.
As regards the box office vs cult status, my take on this is that cult status is achieved when a film is written about a lot (positively) after it has left the silver screen. This indirectly impresses the mind of the reader into believing that the film was 'ahead' of it's times or whatever. However, I have my issues with this because these writers are a bunch of people just like you and me, but with a great power to influence a segment of people with their opinions in print. This judgement therefore is usually very skewed. One reason I can't stand critics.
Take the example of some recent films. Rockstar is being hailed as a classic and what not. What about the number of people who watched it? If it is that good, why didn't it take off with word of mouth? On the other hand, take movies like Bodyguard and Ra.One. By the admission of these critics, these are probably the worst films ever made in the history of mankind. Surprise surprise! Ra.One is the highest worldwide grosser of 2011, closely followed by Don 2 and Bodyguard. Ouch (for the critics).