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Moving iMage Technologies(MITQ) - 2024 Q1 - Quarterly Report
2023-11-14 15:42
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40511 Moving iMage Technologies, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdi ...
Moving iMage Technologies(MITQ) - 2023 Q4 - Annual Report
2023-09-27 21:27
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40511 MOVING IMAGE TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 85-1836381 State or Other Ju ...
Moving iMage Technologies(MITQ) - 2023 Q4 - Earnings Call Transcript
2023-09-26 16:06
Moving iMage Technologies, Inc. (NYSE:MITQ) Q4 2023 Earnings Conference Call September 26, 2023 10:00 AM ET Company Participants Brian Siegel - Senior Managing Director Phil Rafnson - Chairman and CEO Joe Delgado - Co-Founder and EVP, Sales & Marketing Conference Call Participants Operator Greetings. Welcome to Moving iMage Technologies' Fourth Quarter and Year End Fiscal 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presen ...
Moving iMage Technologies(MITQ) - 2023 Q3 - Earnings Call Transcript
2023-05-15 18:33
Financial Data and Key Metrics Changes - Gross profit decreased 24% to $1 million from $1.3 million last year, but gross margin expanded by 440 basis points to 27.9% [1] - Operating loss in Q3 was $0.5 million compared to $0.1 million last year, reflecting lower revenue [2] - GAAP net loss was approximately $0.4 million, with a loss per share of $0.04, compared to net income of $0.6 million or $0.06 per share last year [18] - Third quarter revenue of $3.7 million was down 36% from $5.8 million last year, with $1.7 million of anticipated revenue pushed into fiscal 2024 [50] Business Line Data and Key Metrics Changes - The company’s core business consists of FF&E projects, which make up roughly 60% to 65% of revenue, but these projects can be lumpy and challenging to forecast [45] - Proprietary manufactured products have margins ranging from 35% to 55%, and the company expects to shift its mix towards these higher-margin products [48] Market Data and Key Metrics Changes - The North American market has over 70 million non-English proficient speakers, presenting a significant opportunity for the MiTranslator product [3] - The box office recovered to over $7.5 billion in 2022, with expectations for continued growth in 2023 as box office releases are projected to increase nearly 50% [26] Company Strategy and Development Direction - The company aims to drive revenue growth from higher-margin products and is focusing on technology products with disruptive potential, such as MiTranslator and CineQC [31] - The company is expanding beyond traditional cinema and sees eSports as a significant growth driver for fiscal 2024 [9] - The company is also looking to expand internationally and has established relationships overseas, aiming to accelerate this expansion [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the industry’s recovery and the potential for growth driven by technology upgrades and new theater builds [25] - The company expects approximately 10% revenue growth for fiscal 2023 compared to fiscal 2022, with gross margin projected to be in the 26% to 27% range [21] Other Important Information - The company has repositioned its cash into money market funds to reduce risk and volatility [19] - The new CFO is working on improving forecasting, which has been challenging due to project timing [20] Q&A Session Summary Question: What are the expectations for revenue growth? - The company expects approximately 10% revenue growth for fiscal 2023 compared to fiscal 2022, with a focus on higher-margin products and technology offerings [21] Question: How is the company addressing the challenges in project timing? - The company acknowledges that project timing can be challenging and is focusing on adding new technology offerings with recurring revenue streams to mitigate this issue [50] Question: What is the outlook for the eSports initiative? - The company sees eSports as a significant growth driver and has expanded its strategic relationship with Sandbox to capitalize on this opportunity [10]
Moving iMage Technologies(MITQ) - 2023 Q3 - Quarterly Report
2023-05-15 17:35
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40511 Moving iMage Technologies, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdictio ...
Moving iMage Technologies(MITQ) - 2023 Q2 - Earnings Call Transcript
2023-02-14 18:33
Moving iMage Technologies, Inc. (NYSE:MITQ) Q2 2023 Earnings Conference Call February 14, 2023 11:00 AM ET Company Participants Brian Siegel - Hayden IR Phil Rafnson - Chairman & Chief Executive Officer Joe Delgado - Co-Founder & Executive VP, Sales & Marketing Conference Call Participants Kurt Caramanidis - Carl M. Hennig Inc Operator Greetings, and welcome to the Moving iMage Technologies Second Quarter Fiscal 2023 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. ...
Moving iMage Technologies(MITQ) - 2023 Q2 - Quarterly Report
2023-02-14 13:01
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40511 Moving iMage Technologies, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdic ...
Moving iMage Technologies(MITQ) - 2023 Q1 - Earnings Call Transcript
2022-11-15 19:54
Moving iMage Technologies, Inc. (NYSE:MITQ) Q1 2023 Results Conference Call November 15, 2022 11:00 AM ET Company Participants Brian Siegel - Hayden IR Philip Rafnson - Chairman and CEO Jose Delgado - Co-Founder, EVP of Sales and Marketing Michael Sherman - CFO Conference Call Participants Operator Greetings, and welcome to the Moving iMage Technologies First Quarter Fiscal 2023 Earnings Call. At this time, all participants are in a listen only mode. A question-and-answer session will follow the formal pres ...
Moving iMage Technologies(MITQ) - 2023 Q1 - Quarterly Report
2022-11-14 21:05
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40511 Moving iMage Technologies, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdi ...
Moving iMage Technologies(MITQ) - 2022 Q4 - Annual Report
2022-09-28 19:18
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark if the regis ...