Moving iMage Technologies(US:MITQ) Newsfileยท2025-11-14 12:49Core Insights - Moving iMage Technologies reported Q1 revenue of $5.6 million, a 6.2% increase from $5.3 million in Q1'25, primarily driven by a custom cinema project [4] - The company achieved a gross profit of $1.7 million, reflecting a 22.0% increase compared to $1.4 million in the same quarter last year, with a gross margin percentage rising to 30.0% from 26.1% [4] - Net income improved to $509,000 or $0.05 per share, compared to a net loss of $25,000 or $0.00 per share in Q1'25, aided by a non-cash gain from debt extinguishment [4] Financial Performance - Q1'26 revenue increased to $5.6 million from $5.3 million in Q1'25, driven by custom cinema project deliveries [4] - Gross profit rose to $1.7 million, with gross margin percentage increasing to 30.0% due to a favorable model mix [4] - Operating income was reported at $350,000, a significant improvement from an operating loss of $68,000 in the previous year [4] - Working capital increased by 12.4% to $4.8 million, with cash at $5.5 million at the end of Q1'26 [4] Strategic Initiatives - The acquisition of the DCS cinema loudspeaker line for $1.5 million is expected to enhance the company's product offerings and competitive position [4][5] - The DCS line is anticipated to support sales opportunities in international markets, particularly in Europe and the Middle East [5] - The company is engaged in various upgrade and new build project discussions with U.S. exhibitors, indicating a steady level of industry interest [6] Project Highlights - Q1'26 included the delivery of a unique project for a 166-seat cinema at New York City's Cherry Lane Theatre and upgrades for Alamo Drafthouse locations in Texas [7] - The company is optimistic about increased capital spending on cinema upgrades due to expected solid box office attendance this winter [8]