Financial Performance - Net sales increased by 5.4% to $3.441 million for the three months ended December 31, 2024, compared to $3.265 million for the same period in 2023[99] - Gross profit rose by 23.3% to $0.936 million for the three months ended December 31, 2024, up from $0.759 million in 2023, with gross profit percentage increasing to 27.2% from 23.2%[101] - Net loss reduced to $(0.527) million for the three months ended December 31, 2024, compared to a net loss of $(0.794) million for the same period in 2023, reflecting a loss reduction of $0.267 million[109] - Revenue decreased by 12.2% for the six months ended December 31, 2024, resulting in a gross profit of $2.307 million, down from $2.578 million in the same period of 2023, a decrease of $0.271 million[113] - Net loss increased to $(0.552) million for the six months ended December 31, 2024, compared to a net loss of $(0.355) million in the same period of 2023, an increase of $(0.197) million[122] Expenses Management - Research and development expenses decreased by 35% to $0.047 million for the three months ended December 31, 2024, compared to $0.072 million in 2023 due to headcount reduction[103] - Selling, general and administrative expenses decreased by 4.4% to $1.450 million for the three months ended December 31, 2024, down from $1.517 million in 2023[105] - Research and development expenses decreased by $0.030 million or 21.6% to $0.109 million for the six months ended December 31, 2024, attributed to headcount reduction[115] - Selling, general and administrative expenses decreased by $0.059 million or 2.0% to $2.827 million for the six months ended December 31, 2024, also due to headcount reduction and lower compensation expenses[117] Cash Flow and Liquidity - Cash balance at December 31, 2024, was approximately $5.316 million, up from $5.278 million at June 30, 2024[123] - Net cash provided by operating activities increased by $1.402 million for the six months ended December 31, 2024, primarily due to cost reductions and lower inventory levels[124] - No cash was used in investing activities for the six months ended December 31, 2024, compared to $(0.012) million for equipment purchases in the same period of 2023[125] - No cash was used in financing activities for both the six months ended December 31, 2024, and December 31, 2023[126] - Company believes existing sources of liquidity will be sufficient to fund operations for at least 12 months from the date of financial statement issuance[123] Strategic Initiatives - The company plans to selectively invest in expanding operations and expects total operating expenses to decrease in the foreseeable future[89] - The company aims to increase marketing expenditures to enhance brand recognition for its proprietary products[91] - The introduction of new products, including a multi-language compliance system and Direct View LED screens, is expected to improve gross margins[92] - The company anticipates sufficient cash generation to sustain operations as the industry recovers from recent challenges[88] Profitability Metrics - Gross profit margin increased to 26.5% from 26.0% due to higher margin revenues despite the decrease in gross profit[113]

Financial Performance - Total revenue for Q1 FY25 decreased by 20.8% to $5.3 million compared to $6.6 million in Q1 FY24[5] - Gross profit fell by 24.6% to $1.4 million, resulting in a gross margin of 26.1%[5] - Operating loss for Q1 FY25 was ($0.1) million, a decline from operating income of $0.4 million in Q1 FY24[5] - Net income for Q1 FY25 was ($0.0) million, compared to $0.4 million in Q1 FY24, with diluted earnings per share at ($0.00) versus $0.04[5] - Net loss for the three months ended September 30, 2024, was $(25,000) compared to a net income of $439,000 in the same period of 2023[13] - Cash used in operating activities was $(32,000), a decrease from $(207,000) in the prior year[13] - Cash at the end of the period was $5,246,000, down from $6,408,000 year-over-year[13] Industry Outlook - The cinema industry is experiencing a resurgence, with major players reporting increased attendance and solid gains[2] - The company anticipates that the strong box office momentum will continue through the holiday season and into 2025[3] Growth Initiatives - Internal growth initiatives are being advanced to drive revenue growth and margin expansion, focusing on recurring revenue streams[4] - The company is committed to supporting the industry's growth with innovative high-quality solutions, particularly in immersive sound systems and laser projection upgrades[3] Balance Sheet Highlights - The company held cash of $5.2 million as of September 30, 2024[5] - Total assets increased to $10.7 million as of September 30, 2024, compared to $10.5 million at the end of June 2024[11] - Provision for credit losses increased to $11,000 from $1,000 year-over-year[13] - Accounts receivable improved by $10,000 compared to a decrease of $(1,138,000) in the prior year[13] - Inventories increased by $421,000 compared to a decrease of $(413,000) in the same period last year[13] - Non-cash investing activities included right-of-use assets from lease modification totaling $(988,000)[13]

Shares of Moving iMage Technologies, Inc. (MITQ) have declined 6.7% since the company reported its earnings for the quarter ended Sept. 30, 2024. This compares to the S&P 500 index’s 2% decline over the same time frame. Over the past month, the stock has fallen 4.2% versus the S&P 500’s 0.6% growth.For the first fiscal quarter of 2025, MiT posted break-even earnings per share compared to earnings of 4 cents per share recorded in the prior-year quarter. MiT reported total revenues of $5.3 million, reflecting ...

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, 2024 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 (St ...

Company Overview - Moving iMage Technologies (NYSE American: MITQ) is a leading technology and services provider for the cinema, Esports, stadiums, arenas, and other out-of-home entertainment venues [2][4]. - The company designs and manufactures a wide range of proprietary products in-house, including potentially disruptive SaaS and subscription-based solutions [4]. Upcoming Event - The company will present at the 17th annual LD Micro Main Event on Tuesday, October 29th at 2 pm PT at the Luxe Sunset Boulevard Hotel [2][3]. - Brian Siegel, Vice President of Investor Relations and Strategic Communications, and Joe Delgado, EVP of Sales and Marketing, will represent the company at the event [2]. Industry Context - Joe Delgado highlighted the importance of updating investors on the recovery status of the cinema industry following the actors' and writers' strikes [3]. - The company is focusing on new high-margin, recurring revenue initiatives that are expected to drive growth in the coming years [3]. Financial Position - The company is currently trading below cash with no debt, which is described as an extremely compelling valuation [3].

Moving iMage Technologies Announces Fourth Quarter and Full Year Fiscal 2024 Results Fountain Valley, CA – September 27, 2024: Moving iMage Technologies, Inc. (NYSE AMERICAN: MITQ), ("MiT"), a leading technology and services company for cinema, Esports, stadiums, arenas and other out-of-home entertainment venues, today announced results for its fourth quarter and fiscal year ended June 30, 2024. Phil Rafnson, chairman and chief executive officer of MiT commented, "The fourth quarter marked the close to a ch ...

Moving iMage Technologies, Inc. (MITQ) incurred a GAAP net loss of 4 cents per share in the fourth quarter of fiscal 2024, narrowing from a loss of 12 cents per share in the same quarter of 2023. Revenues grew 10% year over year to $6.3 million from $5.8 million in the fourth quarter of fiscal 2023, driven by a recovery in cinema-related demand despite broader industry disruptions. MiT's fiscal fourth quarter financial results highlight the company's ability to recover despite external challenges, particula ...

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, 2024 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, Inc. (NYSE:MITQ) Q4 2024 Earnings Conference Call September 27, 2024 11:00 AM ET Company Participants Brian Siegel - VP of IR and Strategic Communications Phil Rafnson - Chairman and CEO Joe Delgado - Co-Founder and EVP of Sales and Marketing Conference Call Participants Operator Greetings, and welcome to the Moving iMage Technologies Fourth Quarter and Fiscal Year End 2024 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will ...

Zacks Investment Research has recently initiated coverage of Moving iMage Technologies, Inc. (MITQ) , a prominent provider of technology solutions for movie theaters and entertainment venues, with a neutral recommendation. The research report offers an in-depth analysis and insights into MiT's operational strategies, financial performance and market opportunities. MiT has demonstrated a strong commitment to enhancing shareholder value through strategic initiatives, including a new share repurchase program e ...