Moving iMage Technologies(US:MITQ)2025-09-29 18:50markdown [Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) Moving iMage Technologies reported improved Q4'25 and FY'25 financial performance, driven by expense reductions and strategic contract wins in cinema technology upgrades [Introduction](index=1&type=section&id=Introduction) Moving iMage Technologies announced its financial results for the fourth quarter (Q4'25) and fiscal year ended June 30, 2025 (FY'25), reporting an improved Q4 net loss and an increase in year-end net cash - **Moving iMage Technologies, Inc. (NYSE American: MITQ)** is a leading provider of out-of-home entertainment technology and services for cinema, Esports, stadiums, arenas, and other venues[1](index=1&type=chunk) Key Financial Snapshot (in thousands) | Metric | Q4'25 | Q4'24 | | :---------------- | :---------- | :---------- | | Net Loss | ($156) | ($416) | | Metric | FY'25 End | FY'24 End | | :---------------- | :---------- | :---------- | | Net Cash | $5,700 | $5,300 | [Management Commentary & Operational Highlights](index=1&type=section&id=Management%20Commentary%20%26%20Operational%20Highlights) Management highlighted improved bottom-line performance driven by operating expense reductions and an improved FY'25 gross margin. The company secured a significant laser projector contract and emphasized ongoing opportunities in cinema technology upgrades, including laser projection and Direct View LED displays, alongside a stable base of recurring service revenue - The company improved its **Q4'25 and FY'25 bottom-line performance**, as progress in reducing operating expenses more than offset higher revenues in the year-ago periods[4](index=4&type=chunk) Gross Margin Performance | Period | Q4'25 | Q4'24 | FY'25 | FY'24 | | :---------------- | :---- | :---- | :---- | :---- | | Gross Margin % | 20.4% | 22.5% | 25.2% | 23.3% | - Moving iMage secured a contract to install **150 Barco laser cinema projectors over three years** for a long-time U.S. film exhibition customer[4](index=4&type=chunk) - Key areas of opportunity include ongoing upgrades to **laser projection technology**, **Direct View LED display formats**, **PLF upgrades**, and **immersive audio solutions**[5](index=5&type=chunk)[6](index=6&type=chunk) - The company has built a largely recurring base of **$8,000 to $9,000 in annual revenue** from customers' ongoing parts, component replacement, design, and service needs[7](index=7&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook) The company anticipates a modest increase in cinema technology upgrades for FY'26, with revenue expectations weighted towards the second half and Q1'26 projected at approximately $4.9 million [FY'26 Outlook and Q1'26 Expectations](index=2&type=section&id=FY%26%2339%3B26%20Outlook%20and%20Q1%26%2339%3B26%20Expectations) Moving iMage Technologies is cautiously optimistic for FY'26, anticipating a modest increase in cinema technology upgrades. Revenue expectations for FY'26 are weighted towards the second half, with Q1'26 revenue projected at approximately $4.9 million - Moving iMage is cautiously optimistic regarding its **FY'26 outlook** and the potential for a modest ramp in cinema technology upgrades[8](index=8&type=chunk) - **FY'26 revenue expectations** are currently more weighted to the second half, given industry planning and budget cycles[8](index=8&type=chunk) Q1'26 Revenue Expectation (in thousands) | Metric | Q1'26 (Expected) | | :---------------- | :--------------- | | Revenue | $4,900 | [Financial Review](index=2&type=section&id=Financial%20Review) The company reported declining net sales for Q4'25 and FY'25, yet achieved improved net losses in both periods due to effective operating expense management and enhanced gross margins [Q4'25 Financial Performance](index=2&type=section&id=Q4%26%2339%3B25%20Financial%20Performance) In Q4'25, net sales declined by 7.3% primarily due to reduced customer project activity. Despite this, the company significantly improved its net loss by 62.5% to ($156K) from ($416K) in Q4'24, largely driven by a 26.5% reduction in operating expenses Q4'25 Key Financials (in thousands) | Metric | Q4'25 | Q4'24 | Change (%) | | :---------------------- | :---- | :---- | :--------- | | Net Sales | $5,883 | $6,349 | -7.3% | | Gross Profit | $1,202 | $1,429 | -15.9% | | Gross Margin % | 20.4% | 22.5% | -2.1 pp | | Operating Expenses | $1,389 | $1,891 | -26.5% | | Net Loss | ($156) | ($416) | +62.5% | | EPS | ($0.02) | ($0.04) | +$0.02 | - The **decrease in Q4'25 net sales** was principally due to reduced customer project activity and the impact of theater seating revenues recorded in the year-ago period[9](index=9&type=chunk) - **Q4'25 operating expenses decreased** due to Moving iMage's expense management initiatives, with **selling and marketing expenses down 34.3%** and **general and administrative expenses down 21.6%**[12](index=12&type=chunk) [FY'25 Financial Performance](index=3&type=section&id=FY%26%2339%3B25%20Financial%20Performance) For the full fiscal year 2025, revenue declined by 9.9% to $18.15M. However, the company improved its gross margin to 25.2% and reduced operating expenses by 9.4%, resulting in a 30.9% improvement in net loss to ($0.95M) compared to ($1.37M) in FY'24 FY'25 Key Financials (in thousands) | Metric | FY'25 | FY'24 | Change (%) | | :---------------------- | :---- | :---- | :--------- | | Revenue | $18,147 | $20,139 | -9.9% | | Gross Profit | $4,573 | $4,683 | -2.4% | | Gross Margin % | 25.2% | 23.3% | +1.9 pp | | Operating Expenses | $5,659 | $6,240 | -9.4% | | Net Loss | ($948) | ($1,372) | +30.9% | | EPS | ($0.10) | ($0.13) | +$0.03 | - **FY'25 revenue declined** principally due to reduced customer project activity[12](index=12&type=chunk) - The **improvement in FY'25 operating expenses** was driven by lower compensation expense, more effective use of sales and marketing budgets, and continued discipline around public company costs[12](index=12&type=chunk) [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) The company provided comprehensive details for its investor conference call, including dial-in information, instant access options, and replay availability [Investor Call Information](index=3&type=section&id=Investor%20Call%20Information) The company provided comprehensive details for its investor conference call, including dial-in numbers, a 'Call me™' link for instant access, and information regarding the transcript and replay availability - Dial-in Number: **1-877-407-4018**; Toll/International Number: **1-201-689-8471**[11](index=11&type=chunk) - A **'Call me™' link** is available for instant telephone access to the event, active 15 minutes prior to the scheduled start time[11](index=11&type=chunk) - Transcript will be posted online **48 hours** after the event. Telephone replay is available until **October 10, 2025, at 11:59 p.m. ET**[11](index=11&type=chunk) [About Moving iMage Technologies](index=4&type=section&id=About%20Moving%20iMage%20Technologies) Moving iMage Technologies (MiT) is a leading provider of out-of-home entertainment technology and services, offering integrated systems, proprietary products, and equipment distribution for various venues [Company Overview and Offerings](index=4&type=section&id=Company%20Overview%20and%20Offerings) Moving iMage Technologies (MiT) is a trusted partner in delivering state-of-the-art out-of-home entertainment environments, founded in 2003. The company provides products, integrated systems design, custom engineering, proprietary products, software, and installation services for various entertainment spaces, including cinemas, Esports venues, and stadiums. MiT also manufactures digital cinema peripherals and distributes equipment from major industry brands, complemented by its Caddy Products division - MiT provides **products, integrated systems design, custom engineering, proprietary products, software, and installation services** for cinemas, screening rooms, postproduction facilities, high-end home theaters, Esports venues, arenas, stadiums, and other entertainment spaces[14](index=14&type=chunk) - MiT manufactures a broad line of **digital cinema peripherals** in the U.S., including automation systems, projector pedestals/bases, projector lifts, hush boxes, direct-view LED frames, lighting fixtures and dimmers, power management devices, operations software, and Esports platforms[15](index=15&type=chunk) - The company distributes and integrates cinema equipment from leading brands such as **Barco, Sharp (NEC) Digital Cinema, Christie Digital, Dolby, LG, and Samsung**[15](index=15&type=chunk) - MiT's **Caddy Products division** designs and sells cupholders, concession trays, and venue accessories to enhance concession sales and improve the guest experience[16](index=16&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) The financial statements reveal an increase in total assets and cash, alongside improved operating cash flow, despite a decline in net sales for both Q4'25 and FY'25 [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheets show an increase in total assets to $10.888 million at June 30, 2025, from $10.523 million in the prior year, primarily driven by higher cash and accounts receivable, and a significant increase in right-of-use assets. Total liabilities also increased, while stockholders' equity decreased Consolidated Balance Sheets Highlights (in thousands) | Metric | June 30, 2025 | June 30, 2024 | | :-------------------------- | :------------ | :------------ | | Cash | $5,715 | $5,278 | | Accounts receivable, net | $1,464 | $1,048 | | Inventories, net | $2,066 | $3,117 | | Total Current Assets | $9,407 | $9,913 | | Right-of-use asset | $1,087 | $144 | | Total Assets | $10,888 | $10,523 | | Total Current Liabilities | $5,113 | $4,813 | | Total Long-Term Liabilities | $918 | — | | Total Liabilities | $6,031 | $4,813 | | Total Stockholders' Equity | $4,857 | $5,710 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) The consolidated statements of operations reflect a decline in net sales for both Q4'25 and FY'25. Despite this, the company achieved improved net losses in both periods, primarily due to effective management of operating expenses and an improved gross margin percentage for the full fiscal year Consolidated Statements of Operations (in thousands, except share and per share amounts) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Twelve Months Ended June 30, 2025 | Twelve Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :-------------------------------- | :-------------------------------- | | Net sales | $5,883 | $6,349 | $18,147 | $20,139 | | Cost of goods sold | $4,681 | $4,920 | $13,574 | $15,456 | | Gross profit | $1,202 | $1,429 | $4,573 | $4,683 | | Total operating expenses | $1,389 | $1,891 | $5,659 | $6,240 | | Operating (loss) | ($187) | ($462) | ($1,086) | ($1,557) | | Net (loss) | ($156) | ($416) | ($948) | ($1,372) | | Weighted average shares outstanding: basic and diluted | 9,936,380 | 10,487,857 | 9,910,244 | 10,482,857 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The consolidated statements of cash flows show a significant improvement in operating activities, with net cash provided turning positive to $437 thousand in FY'25 from a negative $796 thousand in FY'24. This, combined with minimal investing and financing activities, led to an overall increase in cash at the end of the period Consolidated Statements of Cash Flows (in thousands) | Metric | Year Ended June 30, 2025 | Year Ended June 30, 2024 | | :------------------------------------------ | :----------------------- | :----------------------- | | Net (loss) | ($948) | ($1,372) | | Net cash provided by (used in) operating activities | $437 | ($796) | | Net cash (used in) investing activities | — | ($12) | | Net cash (used in) financing activities | — | ($530) | | Net increase (decrease) in cash | $437 | ($1,338) | | Cash, beginning of the period | $5,278 | $6,616 | | Cash, end of the period | $5,715 | $5,278 | - Non-cash investing and financing activities for FY'25 included **$207 thousand** for right-of-use assets from new leases and **$988 thousand** from lease modification[23](index=23&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section serves as a standard disclaimer, clarifying that statements about future events are forward-looking and subject to risks, with no commitment to updates [Disclaimer on Future Projections](index=4&type=section&id=Disclaimer%20on%20Future%20Projections) This section serves as a standard disclaimer, clarifying that statements about future events are forward-looking and subject to risks. Actual results may differ materially from these projections, and the company does not commit to updating them - Statements using words like "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" are considered **forward-looking statements**[13](index=13&type=chunk) - **Actual results may differ materially** from those expressed or implied by forward-looking statements due to numerous important factors detailed in SEC filings[13](index=13&type=chunk) - The company assumes **no obligation to update** any forward-looking statements, to the extent permitted under applicable law[13](index=13&type=chunk) [Investor Relations](index=4&type=section&id=Investor%20Relations) This section provides contact details for investor relations inquiries, including names, email, and phone number [Contact Information](index=4&type=section&id=Contact%20Information) This section provides contact details for investor relations inquiries, including names, email, and phone number - **Investor Relations Contacts**: **Chris Eddy** or **David Collins** at **Catalyst IR**[17](index=17&type=chunk) - **Email**: **mitq@catalyst-ir.com**; **Phone**: **212-924-9800**[17](index=17&type=chunk)