Latest news with #MovingiMageTechnologies
Business Insider
a day ago
- Business
- Business Insider
Moving iMage Technologies Stock (MITQ) Surges 55% on a New Contract
Moving iMage Technologies (MITQ) stock rocketed higher on Friday after the digital cinema company announced a $9 million contract. This will have it sell and install 150 Barco laser projectors and accessories over the next three years. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The first installations will start later this year, ahead of the busy holiday movie season. Moving iMage Technologies also noted that the revenue from the contract will be split evenly over the next three years in its earnings reports. MITQ stock was up 57.04% in pre-market trading today. That's a positive switch from the 14.91% drop year-to-date and its 3.64% decline over the past 12 months. It also came with heavy trading, as some 38 million shares changed hands, compared to a three-month daily average of 51,360 shares. Is Moving iMage Technologies Stock a Buy, Sell, or Hold? Wall Street doesn't offer extensive coverage of Moving iMage Technologies, but TipRanks' AI analyst Spark fills that gap. Spark rates MITQ stock a Neutral (48) with a 50-cent price target, representing a potential 9.6% downside. It cites 'mixed financial performance and technical analysis' as the reasons for the rating.
Yahoo
21-05-2025
- Business
- Yahoo
MiT Stock Up 6% as Q3 Loss Narrows Y/Y, Eyes Growth From Tech Refresh
Shares of Moving iMage Technologies, Inc. MITQ have gained 6.4% since the company reported earnings for its fiscal third quarter ended March 31, 2025. Over the past month, the stock has advanced 8.2%, underperforming the S&P 500's 12.5% rise but outpacing the index's 1.1% gain since the earnings release. In the third quarter of fiscal 2025, MITQ incurred a net loss of 2 cents per share, narrower than a net loss of 6 cents per share in the prior-year quarter. (See the Zacks Earnings Calendar to stay ahead of market-making news.) The company posted revenues of $3.6 million, an 8.2% decline from $3.9 million in the year-ago period. The drop was attributed to delays in several customer projects now anticipated in the fourth quarter or fiscal 2026. Despite the revenue contraction, the company demonstrated a marked improvement in profitability metrics. Gross profit surged 57% to $1.1 million from $0.7 million a year earlier, driven by a favorable product mix and reduced sales of lower-margin cinema facilities equipment. Net loss narrowed substantially to $0.2 million compared to $0.6 million in the prior-year quarter. Operating loss narrowed to $0.3 million from $0.6 million, supported by steady operating expenses and higher gross margins. Moving iMage Technologies, Inc. price-consensus-eps-surprise-chart | Moving iMage Technologies, Inc. Quote Gross margin for the quarter rose significantly to 29.8%, up from 17.4% in the prior-year quarter. This improvement reflected a strategic focus on high-margin product categories, including Caddy products, and the absence of lower-margin cinema facility equipment sales. Operating expenses remained essentially flat at $1.3 million, aided by recent cost controls despite increased rent and bad debt expenses. Cash remained steady at $5.4 million, or approximately 54 cents per share, and MITQ ended the quarter with no long-term debt, highlighting a strong balance sheet. Executives highlighted operational discipline and project execution capabilities as pivotal to the improved financial performance despite macroeconomic headwinds. CEO Phil Rafnson emphasized confidence in long-term growth opportunities driven by the cinema technology refresh cycle, notably the replacement of aging projectors and sound systems with laser-based solutions. COO Francois Godfrey reiterated that while customer spending decisions are delayed, MITQ's reputation and technical expertise continue to win new and complex projects, such as the Cannon Beach seven-screen theater complex in Arizona, scheduled to begin installation in early fiscal 2026. Management also pointed to broader industry optimism, with analysts projecting a 9% increase in the 2025 domestic box office to $9.7 billion. This favorable backdrop, combined with MITQ's growing base of recurring revenue and proprietary products, underpins the company's positioning as a premier partner in the entertainment technology ecosystem. The revenue decline in the quarter was largely due to delays in project start times and final approvals, rather than lost business. Management noted that several contracts were already secured but postponed as customers reassess budgets and government policy impacts. Nonetheless, MITQ maintained its robust sales efforts, executing AV integration at the UCSB Pollock Theatre and building out Flix Brewhouse's Albuquerque location during the quarter. Contributing to the margin expansion was the strategic shift toward high-value offerings, such as dimmers, LED lighting and custom integration services, along with cost discipline across payroll and public company expenses. These initiatives cushioned the impact of softer top-line performance and helped reduce net loss both sequentially and year over year. Looking ahead, MITQ expects fiscal fourth-quarter revenues of approximately $5.2 million. This guidance reflects some project slippage into fiscal 2026, yet also anticipates a further reduction in net loss. Management remains focused on maintaining its cash position and progressing toward positive cash flow and profitability. The team also hinted at continued investment in product development and potential M&A opportunities to supplement organic growth. During the quarter, MITQ secured a $9 million projector technology refresh contract with a long-term customer, to be executed over three years. The company also expanded into the professional sports market with a Caddy product installation at an NFL venue. These wins underscore MITQ's push into broader entertainment and sports infrastructure markets beyond traditional cinema. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moving iMage Technologies, Inc. (MITQ): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
15-05-2025
- Business
- Globe and Mail
Moving iMage Technologies Reports Revenue of $3.57M, Improved Q3 Gross Profit and Reduced Net Loss; Net Cash Steady at $5.4M at Quarter End
Fountain Valley, California--(Newsfile Corp. - May 15, 2025) - Moving iMage Technologies, Inc. (NYSE American: MITQ), a leading provider of cutting-edge out-of-home entertainment technology and services for cinema, Esports, stadiums and arenas, announced results for its third quarter ended March 31, 2025 (Q3'25) and will hold an investor call today at 11am ET (see call details below). Q3'25 Highlights Q3'25 revenue declined 8.2% to $3.571M vs. $3.890M in Q3'24, principally due to customer delays in the commencement of several projects that are now expected later in Q4'25 or FY 2026. Q3'25 gross profit dollars increased $387K to $1.063M vs. $676K in Q3'24, reflecting the benefit of a focus on higher margin project and product opportunities as well as the impact of lower margin cinema facilities equipment sales and certain inventory reserves in Q3'24. Q3'25 gross margin percentage increased to 29.8% vs. 17.4% in Q3'24 due to the absence of lower margin cinema facilities equipment revenue in Q3'24. Q3'25 operating loss improved to ($270K) vs. ($649K) in Q3'24, principally reflecting the gross margin improvement. Q3'25 net loss improved to ($240K), or ($0.02) per share, vs. ($601K) or ($0.06) per share, in Q3'24. Net cash steady at $5.4M, or approximately $0.54 per common share, and there was no long-term debt as of 3/31/25. Moving Image Chairman and CEO, Phil Rafnson, commented, "In the face of business and economic uncertainties impacting our customers' near-term spending decisions, we remain focused on building our project pipeline with new and existing customers while also working to reduce expenses, focus on higher margin opportunities and preserving our cash position. Despite these transitory impacts, we remain confident in the substantial longer term business potential of the cinema technology refresh cycle involving the replacement of thousands of legacy cinema projectors and sound systems with state-of-the-art laser projectors and updated sound systems over the next few years." President and COO, Francois Godfrey, added, "Ongoing customer dialogues confirm the need, customer experience and operating cost benefits of new laser projection systems. Further, our team's long-term experience, strong reputation and unrivaled ability to design and execute projects in any entertainment environment positions us well to earn a significant share of this activity. A perfect example was the decision to select Moving iMage to design and implement a state-of-the-art, seven-screen theater complex at Cannon Beach in Arizona. We expect installation work to commence early in fiscal 2026 and are very proud to play a defining role in this unique, complex and high-profile project with outstanding business partners." "We came away from CinemaCon in late April with new relationships, opportunities and ideas to maximize efficiencies and are proud to repeatedly overdeliver on client needs from coast to coast. Recent new business wins include a $9M projector technology refresh contract spread over three years for an important long-term exhibition customer, the Cannon Beach project mentioned by Phil, and several other pending turnkey cinema deployments. "While current economic uncertainties are slowing the pace of projects and customer decision making, we have built a base of $8M to $9M in largely recurring annual revenue, a solid pipeline of contracted projects and a significant number of opportunities in development, most of which we expect in fiscal 2026 or future years. We are focused on the things that we can control, principally our overhead, product and service margins and pace of investment, to ensure that we remain well positioned to pursue growth opportunities and make progress on our goal to move the business to positive cash flow and profitability. "We currently expect Q4'25 revenue of approximately $5.2M, as a result of some larger FY 2025 projects getting pushed into FY 2026, and solid progress in the reduction of our net loss on a sequential and year-over-year basis. Looking into FY 2026, while we are encouraged by the recent box office gains, we look forward to our customers updating their auditoriums with higher image quality and lower total cost of ownership of new cinema systems." Conference Call Details Dial-in Number: 1-877-407-4018 Toll/International Number: 1-201-689-8471 Call me™: Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call me™ Link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time. Transcript: Posted online here 48 hours after the event Questions can be submitted in advance via Email to: mitq@ Telephone Replay Access ID: 13753795 Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Replay Expiration: Thursday May 29, 2025 at 11:59 p.m. ET Forward-Looking Statements All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements. About Moving iMage Technologies ( With a focus on innovation, service, and quality, Moving iMage Technologies ("MiT") is a trusted partner in delivering state-of-the-art out-of-home entertainment environments. Founded in 2003, 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. 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. It also distributes and integrates cinema equipment from Barco, Sharp (NEC) Digital Cinema, Christie Digital, LEA Professional, Dolby, GDC, JBL/Crown, LG, Meyer Sound, Q-SYS, QSC, Samsung and others. MiT's Caddy Products division designs and sells cupholders, concession trays, and venue accessories that enhance concession sales and improve the guest experience. MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands except share and per share amounts) March 31, June 30, 2025 2024 (unaudited) Assets Current Assets: Cash $ 5,369 $ 5,278 Accounts receivable, net 940 1,048 Inventories, net 3,065 3,117 Prepaid expenses and other 241 470 Total Current Assets 9,615 9,913 Long-Term Assets: Right-of-use asset 1,142 144 Property and equipment, net 18 28 Intangibles, net 378 422 Other assets 15 16 Total Long-Term Assets 1,553 610 Total Assets $ 11,168 $ 10,523 Liabilities And Stockholders' Equity Current Liabilities: Accounts payable $ 2,745 $ 2,261 Accrued expenses 351 320 Customer refunds 288 399 Customer deposits 1,534 1,651 Lease liability-current 219 151 Unearned warranty revenue 53 31 Total Current Liabilities 5,190 4,813 Long-Term Liabilities: Lease liability-non-current 979 - Total Long-Term Liabilities 979 - Total Liabilities 6,169 4,813 Stockholders' Equity Common stock, $0.00001 par value, 100,000,000 shares authorized, 9,933,679 and 9,896,850 shares issued and outstanding at March 31, 2025 and June 30, 2024, respectively - - Additional paid-in capital 12,047 11,965 Accumulated deficit (7,048) (6,255) Total Stockholders' Equity 4,999 5,710 Total Liabilities and Stockholders' Equity $ 11,168 $ 10,523 The accompanying notes are an integral part of these condensed consolidated financial statements. MOVING IMAGE TECHNOLOGIES, INC. (in thousands except share and per share amounts) (unaudited) Three Months Ended Nine Months Ended March 31, March 31, 2025 2024 2025 2024 Net sales $ 3,571 $ 3,890 $ 12,264 $ 13,790 Cost of goods sold 2,508 3,214 8,894 10,536 Gross profit 1,063 676 3,370 3,254 Operating expenses: Research and development 49 73 157 212 Selling and marketing 429 547 1,421 1,717 General and administrative 855 705 2,691 2,421 Total operating expenses 1,333 1,325 4,269 4,350 Operating (loss) (270) (649) (899) (1,096) Other income (expense) Interest and other income, net 30 48 107 140 Total other income 30 48 107 140 Net (loss) $ (240) $ (601) $ (792) $ (956) Weighted average shares outstanding: basic and diluted 9,911,015 10,436,519 9,901,554 10,593,229 Net (loss) income per common share basic and diluted $ (0.02) $ (0.06) $ (0.08) $ (0.09) The accompanying notes are an integral part of these condensed consolidated financial statements. Nine Months Ended March 31 2025 2024 Cash flows from operating activities: Net (loss) $ (792) $ (956) Adjustments to reconcile net (loss) to net cash provided by (used in) operating activities: Provision for credit losses 59 (52) Inventory reserve 277 433 Depreciation expense 10 9 Amortization expense 44 43 Right-of-use amortization 197 201 Stock option compensation expense 59 15 Stock issued for director expenses 23 13 Changes in operating assets and liabilities Accounts receivable 50 67 Inventories (226) (234) Prepaid expenses and other 230 (487) Accounts payable 484 (50) Accrued expenses and customer refunds (81) 129 Unearned warranty revenue 22 26 Customer deposits (117) 726 Lease liabilities (148) (207) Net cash provided by (used in) operating activities 91 (324) Cash flows from investing activities Purchases of property and equipment - (12) Net cash (used in) investing activities - (12) Cash flows from financing activities Stock Buyback - (334) Net cash (used in) financing activities - (334) Net increase (decrease) in cash 91 (670) Cash, beginning of the period 5,278 6,616 Cash, end of the period $ 5,369 $ 5,946 Non-cash investing and financing activities: Right-of-use assets from new lease $ (207) $ - Right-of-use assets from lease modification $ (988) $ - The accompanying notes are an integral part of these condensed consolidated financial statements.
Associated Press
15-05-2025
- Business
- Associated Press
Moving iMage Technologies Reports Revenue of $3.57M, Improved Q3 Gross Profit and Reduced Net Loss; Net Cash Steady at $5.4M at Quarter End
Fountain Valley, California--(Newsfile Corp. - May 15, 2025) - Moving iMage Technologies, Inc. (NYSE American: MITQ), a leading provider of cutting-edge out-of-home entertainment technology and services for cinema, Esports, stadiums and arenas, announced results for its third quarter ended March 31, 2025 (Q3'25) and will hold an investor call today at 11am ET (see call details below). Q3'25 Highlights Moving Image Chairman and CEO, Phil Rafnson, commented, 'In the face of business and economic uncertainties impacting our customers' near-term spending decisions, we remain focused on building our project pipeline with new and existing customers while also working to reduce expenses, focus on higher margin opportunities and preserving our cash position. Despite these transitory impacts, we remain confident in the substantial longer term business potential of the cinema technology refresh cycle involving the replacement of thousands of legacy cinema projectors and sound systems with state-of-the-art laser projectors and updated sound systems over the next few years.' President and COO, Francois Godfrey, added, 'Ongoing customer dialogues confirm the need, customer experience and operating cost benefits of new laser projection systems. Further, our team's long-term experience, strong reputation and unrivaled ability to design and execute projects in any entertainment environment positions us well to earn a significant share of this activity. A perfect example was the decision to select Moving iMage to design and implement a state-of-the-art, seven-screen theater complex at Cannon Beach in Arizona. We expect installation work to commence early in fiscal 2026 and are very proud to play a defining role in this unique, complex and high-profile project with outstanding business partners.' 'We came away from CinemaCon in late April with new relationships, opportunities and ideas to maximize efficiencies and are proud to repeatedly overdeliver on client needs from coast to coast. Recent new business wins include a $9M projector technology refresh contract spread over three years for an important long-term exhibition customer, the Cannon Beach project mentioned by Phil, and several other pending turnkey cinema deployments. 'While current economic uncertainties are slowing the pace of projects and customer decision making, we have built a base of $8M to $9M in largely recurring annual revenue, a solid pipeline of contracted projects and a significant number of opportunities in development, most of which we expect in fiscal 2026 or future years. We are focused on the things that we can control, principally our overhead, product and service margins and pace of investment, to ensure that we remain well positioned to pursue growth opportunities and make progress on our goal to move the business to positive cash flow and profitability. 'We currently expect Q4'25 revenue of approximately $5.2M, as a result of some larger FY 2025 projects getting pushed into FY 2026, and solid progress in the reduction of our net loss on a sequential and year-over-year basis. Looking into FY 2026, while we are encouraged by the recent box office gains, we look forward to our customers updating their auditoriums with higher image quality and lower total cost of ownership of new cinema systems.' Conference Call Details Dial-in Number: 1-877-407-4018 Toll/International Number: 1-201-689-8471 Call me™: Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call me™ Link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time. Transcript: Posted online here 48 hours after the event Questions can be submitted in advance via Email to: [email protected] Telephone Replay Access ID: 13753795 Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Replay Expiration: Thursday May 29, 2025 at 11:59 p.m. ET Forward-Looking Statements All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words 'believe,' 'anticipate,' 'expect,' 'plan,' 'intend,' 'estimate,' 'target' and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Ourfilings with the SECprovide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements. About Moving iMage Technologies ( ) With a focus on innovation, service, and quality, Moving iMage Technologies ('MiT') is a trusted partner in delivering state-of-the-art out-of-home entertainment environments. Founded in 2003, 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. 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. It also distributes and integrates cinema equipment from Barco, Sharp (NEC) Digital Cinema, Christie Digital, LEA Professional, Dolby, GDC, JBL/Crown, LG, Meyer Sound, Q-SYS, QSC, Samsung and others. MiT's Caddy Products division designs and sells cupholders, concession trays, and venue accessories that enhance concession sales and improve the guest experience. Follow us on X: @movingimagenews Follow us on LinkedIn: MiT on LinkedIn MITQ Investor Relations Contacts Chris Eddy or David Collins Catalyst IR [email protected] or 212-924-9800 MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands except share and per share amounts) [This table cannot be displayed. Please visit the source.] The accompanying notes are an integral part of these condensed consolidated financial statements. MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands except share and per share amounts) (unaudited) [This table cannot be displayed. Please visit the source.] The accompanying notes are an integral part of these condensed consolidated financial statements. MOVING IMAGE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) [This table cannot be displayed. Please visit the source.] The accompanying notes are an integral part of these condensed consolidated financial statements. To view the source version of this press release, please visit
Yahoo
07-05-2025
- Business
- Yahoo
Moving iMage Technologies Hosts Third Quarter Fiscal 2025 Conference Call May 15, 2025 at 11am ET
Fountain Valley, California--(Newsfile Corp. - May 7, 2025) - Moving iMage Technologies, Inc. (NYSE American: MITQ), a leading provider of cutting-edge out-of-home entertainment technology and services for cinema, Esports, stadiums and arenas, will report Q3 fiscal 2025 results before the market opens on May 15th and host an investor call at 11:00 am ET. Following prepared remarks, management will take investor questions. Conference Call Details Date/Time: Thursday May 15th at 11:00am ET Toll-Free Number: 1-877-407-4018 Toll/International Number: 1-201-689-8471 Call me™: Participants can use Guest dial-in numbers above and be answered by an operator OR click the Call me™ Link for instant telephone access to the event. Call me™ link will be made active 15 minutes prior to scheduled start time. Transcript: Posted online here 48 hours after the event Questions can be submitted in advance via Email to: mitq@ Telephone Replay Access ID: 13753795 Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Replay Expiration: Thursday May 29, 2025 at 11:59 p.m. ET About Moving iMage Technologies ( With a focus on innovation, service, and quality, Moving iMage Technologies ("MiT) is a trusted partner in delivering state-of-the-art out-of-home entertainment environments. Founded in 2003, 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. 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. It also distributes and integrates cinema equipment from Barco, Sharp (NEC) Digital Cinema, Christie Digital, LEA Professional, Dolby, GDC, JBL/Crown, LG, Meyer Sound, Q-SYS, QSC, Samsung and others. MiT's Caddy Products division designs and sells cupholders, concession trays, and venue accessories that enhance concession sales and improve the guest experience. Follow us on X: @movingimagenews Follow us on LinkedIn: MiT on LinkedIn MITQ Investor Relations Contacts Chris Eddy or David Collins Catalyst IR mitq@ or 212-924-9800 To view the source version of this press release, please visit
