Moving iMage (MITQ) 14 Nov 242025 Q1 Earnings call transcript

Greetings, and welcome to the Moving iMage Technologies First Quarter 2025 Earnings Call. [Operator Instructions]

As a reminder, this conference is being recorded.

At this time, I would like to turn the call over to Brian Siegel, Vice President of Investor Relations and Strategic Communications. Please go ahead, Brian.

operator. you, Thank welcome and and iMage earnings Technologies Good to call webcast. conference morning, Moving today CEO, business and With will Chairman provide and is me and who Delgado, our industry Executive of will Francois CFO, Marketing, Co-Founder, Greene. Joe provide strategy Phil overview; Godfrey, and and President and COO; a VP Sales overview an who Rafnson, Bill

in website. have of seen today's available you is our of that not the those section For it Investors release,

everyone remind forward-looking no that events for beginning, in several I that these quarterly results to statements. Before future SEC. best as assurances reports place. in Actual Further believe, anticipated are or like the risk are information, filed will presentation contained with risks the like company's estimates could discussed the take that of factors be statements differ except from or results matters expected is information company's anticipate, Words would there historical involve materially mean this expect, our those annual that actually and can writing, this uncertainties. and the that but on

Now Go ahead, to I'd the Phil. to like over Phil. turn call

demand of of third clear cinema moviegoing. past of potential offerings, over both lineup renewed Those and be strikes perfectly premium joining MiT. posed and and experiences appear we've resurgence Thank has the increasingly industry energized us year. upgrades, to tone to Brian, thanks shift XXXX, and experiences. The for attendance, their we're traditional our AMC well. as releases experience. in-theater Rafnson, Technologies, fiscal embracing premium our particularly as sparking are AMC, office quarter experienced releases, the and first today. a Cinemark resilience in rebound the I'm such especially by for the achieved signs sound begins projection iMage everyone Hollywood the and enthusiasm and the stronger-than-anticipated Phil I'm CEO encouraged challenges customers solid you, seen like elevate highlighting the now, interest by progress from Moving behind systems or players blockbuster setbacks Regal reinvigorated which us the are with by industry quarter of in box a reporting major laser improvements, by valued a of This immersive noted audiences sector. as Cinemark has looking the to broader Major with rising positive moviegoing aligns advanced to

point thousands technology evolving as next MiT Looking technological This to due with at the for growth a servers cycle, demands. support our the continue replacement we and of upgrades is over projectors upgrade need for pivotal a the opportunity reaching industry years. represents for clients' few

cinema and growth, today's theater in As the industry MiT moves innovation well capture solutions is positioned to meet exceptionally goers. to high with the leading essential tailored products this forward, expectations of

recent the of juncture that on and to structure. changes is cinema promote long-term decided me. directly to a later. sooner place succession I development. After in I wanted in working with The potentially Turning rebounding plan careful reporting to MiT the our Francois of are in to role a consideration, critical our industry to COO and put host offerings than and President the at transformational Godfrey business leadership

the now our Francois to look part emerging key strong next into with decades I him as phase our I'll we Francois to move to forward initiatives been with over of words. brings company. turn industry a viability. say of MiT's has a and working towards relationships a call experience as growth moving few team

the for very excited join to to about MiT's I you, success in and Phil, today's Thank appreciate years I'm prospects opportunity come. the call.

increase business plan and month, Over plan cash margin gross to take a and and generate business profits. leverage our to revenue develop flow review growth, operating our I operations of advantage accelerate thoroughly to next designed the to

flush review align to I goal investment increase go-to-market adequate emerging I offerings to this in changes, on to our core the with is out and call quarter opportunities believe baseline improve radical this with earnings expect don't in cinema any business, an excellence plan you While strategy. operational our time second may in My share our mid-February.

Now call discuss in Joe to the business I'll turn to over detail. the more

everyone. Francois, by business, morning, encouraged our we're future. of promising and with signs you, a good cinema core Thank Starting

these is $XXX,XXX upgrades with in recovery, their technology ranging from and depending of a cycle projector replacing to cycle technology ongoing laser upgrade years. $XX,XXX on life addition new thousands combinations the to In key involve server specifications. expected These here will of end with the the with systems coming reach industry's catalyst to older prices

capture smart few years. We're for them larger also not in optimistic our the growth amplifiers us LEA but grants twice with in differentiates we their gives expertise rights will every Professional, cinema won't cinema offer from margins, partnership next market. this These While a this opportunity, cycle towards extended high provide only an industry also distribution amplifiers contribute that which us confidence standard, which power competitors. over space warranty meaningfully global our the about the

North market $XX In to approximately to installed a $XX this representing requiring of annually. year, of base addressable million replacement approximately America total million valued the $XXX X% with is XX% million an each existing alone, at equipment estimated

new to continue and these whenever possible. products into scope builds We refurbs

with early our play believe role could we're Lastly, expanding instrumental discussions also in we LEA potential there. an in customers, presence European and the

Sandbox, tied develop a and initiative eSports sharpened our solely we've model our Next the and to is strategy refined few lead for past eSports. to little opportunity, where aims the eSports over Initially, which cinemas was quarters.

theater SandBox not we've capital we internal the rolled an required a support Despite have beginning can this Recently, to capabilities an pivoted out customer away domestic to adjusted on concept Meanwhile, from large direct fundraising period us in of focus leagues. external circuits adapt. due to launch to strong in approach this, wavered eSports on with delays our plans first to announced and extended SandBox targeting However, pursue interest confirm sponsorships XXXX relying since SandBox leagues. operational sales pipeline. to early has its

us enabled ready circuits will their has eSports to efforts offerings, over these shift proactive engage and with into the actively theater to materialize coming we're integrate hopeful This quarters.

pipeline strengths, incredibly arena our and opportunities. is Now eCaddy, for to The millions innovative new let's opportunity designed the services fan for than What apart Imagine new stadiums streams holders advertising revenue such could cup only or of also here experience and that is more about expand for eCaddy with promotions, a arenas. sets exciting that not alongside but an potential just and as eCaddy upgrades a venues. significant through that us talk upgrade. retrofitted build beyond it's model new be existing cinema. stadium market cup a of hold It's specifically a with these seats product creating holder

developing League for and other defining both received sports at to we're select submit and being and feedback and prototype Major and We've positive the this arenas. technology, stadiums proposals Baseball executives, currently both model from precursors to able

margin eCaddy engagement as the limitless eCaddy and the potential high tens of of growth believe revenue scales, platform solutions. various has generate can adapt technology-driven demand The with meaning versatility across millions fan nearly We to for recurring venues. it seats worldwide

progress. objectives In summary, on long-term our solid despite made stayed industry and we've focused challenges,

and Our in potential. turning full our eCaddy is signs showing of of cinema the and are corner new business eSports initiatives, particularly

key to positioned see in progress With disruptions, recent strategies We're results. that, what's early milestones. the including Hollywood the to strikes, ahead industry these incredibly we're the we're recovers our Brian. As to we stages, excited over reach and yield and I'll as look our it from thank but you, forward well I turn for still sharing

then Thanks, this the of Joe, several everyone, continued comp Hollywood Barbenheimer back and 'XX attending we box from only for phenomenon. thank to Unfortunately, 'XX our tailwinds momentum 'XX, QX fiscal at had going a and office a tough recovery are we pointed from was rest as earnings now pickup. momentum call. you, starting QX always COVID and its see derailed for be the post strike to times, as out the

optimism see environment an that So down expected, for as calendar 'XX while did year. spending new improved we into QX were our we signals gave numbers the encouraging us as head

Revenue higher from Encouraging refresh prior a quarters year's XX.X% year. where the quarters, million. projects decline seat the was to improved declined fewer XXX $X.X larger down margin, related had but year million, last prior X The sign big here first order. year. last profit for roughly of contained the versus however, sequentially XX.X%, orders we a cycle. that business, gross last $X.X Gross the technology the rate was XX% to more couple versus points margin lower large revenue from quarter Gross mix run and difference between is basis the

the which impact beginning we EPS to $X.X last the that out last expenses, annualized and fiscal year, flat operating side, we other is was Operating year. $X.X reductions count costs, breakeven expected were and of cost XXXX. income $XXX,XXX we Remember at the the compared the of million operating $X.XX On head last for $XX,XXX versus made of expense roughly to at quarter versus year. took reflecting achieved million of EPS quarter most of loss

balance Looking to sheet. our

$X.X million, capitalized. that only we and cash cash indicating well remain were $XX,XXX Our equivalents down at

slowest high to our and been Moving holiday capacity. this quarter. quarter movie Historically, to due a seasonally at theaters second has running the schedule

and the comp favorable should to stronger given do year expect While spending believe environment took pattern the more year. cost reductions this we don't we industry this change, we versus be last

we In profits. growth, margins focused summary, on will we remain and accelerate believe revenue increased offerings initiatives gross and that drive the

to us key providing through handle, as developments growth as and earnings follow For to we continue releases we our at are where or emerging we'll apps, investors, to our well any as calls updates milestones announce our committed orders @movingimagenews. you encourage on strategies and press unfold, on

joining Thank if next you questions, with in for again speaking the call Operator, We we look are forward for to during us any. ready you February. today.

this At Instructions] concludes no conference. questions. [Operator today's This are time, there

time. lines You participation. for at may your Thank your you this disconnect