Moving Image Technologies Inc - MITQ STOCK NEWS

Moving iMage Technologies (NYSE American: MITQ), a provider of technology and services for motion picture exhibition, Esports, stadiums, and entertainment venues, will showcase its cinema solutions at CinemaCon 2025 in Las Vegas from April 1st-3rd at Booths #2118A and #915J.

The company will host an investor open house on Tuesday, April 1st at 4pm PT, led by President and COO Francois Godfrey and CFO Bill Greene. The event will begin at booth #2118A and conclude at the Caddy Products division booth #915J. Interested investors are required to RSVP through the company's IR team.

Moving iMage Technologies (MITQ) reported improved financial results for Q2 FY2025. Revenue increased to $3,441,000 from $3,265,000 year-over-year, while gross profit rose to $936,000 with a margin of 27.2%. The company narrowed its operating loss to ($561,000) from ($830,000), and net loss improved to ($527,000) or ($0.05) per share compared to ($794,000) or ($0.07) per share.

The company benefited from a strengthening cinema industry, securing multiple orders for laser projectors and Dolby Atmos audio solutions for premium large format auditoriums. The 2024 holiday box office showed a 40% surge over the previous year. As of December 31, 2024, MITQ maintained a cash position of $5,316,000.

Management expects customer spending to continue improving throughout 2025, focusing on driving consistent revenue growth and achieving profitability in their core business.

Moving iMage Technologies (NYSE American: MITQ) has announced its upcoming second quarter fiscal 2025 earnings conference call, scheduled for Thursday, February 13, 2025, at 11:00 a.m. Eastern Time. The company will release its financial results for the quarter ended December 31, 2024, at approximately 7:00 a.m. Eastern Time on the same day.

The earnings release will be accessible through the company's investor relations website. Investors can participate via toll-free (1-877-407-4018) or international (1-201-689-8471) dial-in numbers. A webcast will also be available, and a replay service will be accessible until February 27, 2025, using the replay dial-in numbers 1-844-512-2921 (US) or 1-412-317-6671 (International) with access ID 13751755.

Moving iMage Technologies (MITQ) reported Q1 FY2025 results with revenue decreasing 20.8% to $5.3 million compared to $6.6 million in Q1 FY2024. The company posted a gross profit of $1.4 million with a 26.1% margin, and an operating loss of $0.1 million. Despite current quarter challenges, management expressed optimism about industry recovery, citing strong summer box office performance and increased theater investments in premium technologies. The company ended the quarter with $5.2 million in cash and expects improved performance in the second half of fiscal 2025.

Moving iMage Technologies (NYSE American: MITQ) has announced its first quarter fiscal 2025 earnings conference call, scheduled for Thursday, November 14, 2024, at 11:00 a.m. Eastern Time. The earnings release will be posted at approximately 7:00 a.m. Eastern Time on the same day. The company will discuss financial and operational results for the quarter ended September 30, 2024. A telephone replay will be available until November 28, 2024. MITQ is a leading provider of technology, products, and services for the Motion Picture Exhibition industry, with ventures in live entertainment venues and Esports.

Moving iMage Technologies (NYSE American: MITQ) has announced a correction to its First Quarter Fiscal 2025 earnings call schedule. The conference call will now take place on Thursday, November 14, 2024, at 12:00 p.m. Eastern Time, instead of the previously announced 11:00 a.m. The company will release its earnings report at approximately 7:00 a.m. Eastern Time on the same day.

The call will be accessible via toll-free and international dial-in numbers, with a Call me™ feature available 15 minutes before the start time. A webcast replay will be available until November 28, 2024. Moving iMage Technologies is a leading provider of technology and services for the Motion Picture Exhibition industry, with ventures in live entertainment and Esports.

Moving iMage Technologies (MITQ) announced a strategic executive succession plan, promoting Francois Godfrey to President and Chief Operating Officer while appointing him to the Board of Directors. Godfrey, who joined MiT in early 2022 as VP of Business Development and Sales, succeeds Phil Rafnson as President, while Rafnson retains his role as Chairman and CEO. Additionally, Bevan Wright, EVP of Operations, will transition from the Board to an advisory board position while maintaining his operational role. Godfrey brings over 20 years of experience in business development, sales, and strategic planning from previous leadership positions at Christie Digital Systems, Barco, Ballentyne Strong, and QSC Audio.

Moving iMage Technologies (MITQ), a technology and services provider for cinema, Esports, stadiums, arenas, and out-of-home entertainment venues, has released its annual shareholder letter from Chairman, CEO and President Phil Rafnson. The letter aims to communicate with shareholders about the company's performance and outlook.

Moving iMage Technologies (NYSE American: MITQ) announced its participation in the 17th annual LD Micro Main Event on October 29th at 2 pm PT at the Luxe Sunset Boulevard Hotel. Brian Siegel, VP of Investor Relations and Strategic Communications, and Joe Delgado, EVP of Sales and Marketing, will represent the company.

Joe Delgado stated they will introduce a new corporate presentation and update investors on the cinema industry's recovery post-strikes and their new high-margin, recurring revenue initiatives. He emphasized the company's compelling valuation, trading below cash with no debt.

The presentation can be viewed virtually by registering online. Chris Lahiji, LD Micro's Founder, highlighted the event's significance for the small and micro-cap industry, describing it as an essential gathering for establishing future groundwork.