Moving iMage Technologies Secures $9M Contract to Install 150 Barco Laser Projectors Over Three Years
Rhea-AI Summary
Positive
- Secured substantial $9 million contract spanning three years
- Revenue visibility with even distribution over next three fiscal years
- Strategic expansion of relationship with existing national customer
- Technology upgrade opportunity aligned with industry-wide refresh cycle
Negative
- Extended revenue recognition period over three years rather than immediate impact
- Significant execution risk over multi-year installation timeline
News Market Reaction – MITQ
On the day this news was published, MITQ gained 53.68%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Fountain Valley, California--(Newsfile Corp. - June 20, 2025) - Moving iMage Technologies, Inc. (NYSE American: MITQ), a leading provider of advanced out-of-home entertainment technology and services for cinemas, esports venues, stadiums, and arenas, today announced a new agreement with an existing national cinema exhibition customer. The agreement covers the sale and installation of 150 Barco laser projectors along with a range of MiT-manufactured equipment-including pedestals, IS-30 automation systems, and integration services-to support a comprehensive technology refresh at locations across the U.S. over the next three years.
Total revenue for the agreement is approximately
"We're excited to expand our relationship with this valued long-term customer by outfitting their locations with state-of-the-art Barco Series 4 4K laser projectors and Barco Alchemy media servers," said Francois Godfrey, President of MITQ. "This agreement highlights the customer experience and operating cost benefits of upgrading to laser projection. Moving iMage is proud to serve as a thought leader and trusted solutions provider as the cinema industry undertakes a broad technology refresh-replacing aging lamp-based systems, often in tandem with immersive audio upgrades."
"We're delighted to grow the footprint of Laser by Barco in the U.S.," said Joe Demeo, Director of Sales, Cinema, North America, at Barco. "Our Series 4 laser projection line delivers the operational efficiency and consistent, high-quality presentation that discerning audiences - and expert onsite teams - are looking for. MiT has been an early supporter of laser, and we're proud to continue our work together to elevate the moviegoing experience."
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 Barco
Barco, headquartered in Kortrijk (Belgium), is a global technology company leading in visualization, networking, and collaboration solutions. Its innovative technologies drive advancements in the healthcare, enterprise, and entertainment markets. At the heart of Barco's success are over 3,000 dedicated 'visioneers', each passionately contributing to driving change through technology.
Listed on Euronext (BAR), Reuters (BARBt.BR), and Bloomberg (BAR BB), Barco realized sales of 947 million euro in 2024. For further insights, please visit www.barco.com, or connect on LinkedIn, YouTube, Instagram, and Facebook.
Barco. Visioneering a bright tomorrow. © 2025
Barco Cinema Press Contacts
Sarah Resnikoff
Publicity Director
Sarah.Resnikoff@Barco.com
About Moving iMage Technologies (www.movingimagetech.com)
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 Moving iMage on X: @movingimagenews
Follow Moving iMage on LinkedIn: MiT on LinkedIn
MITQ Investor Relations Contacts
Chris Eddy or David Collins
Catalyst IR
mitq@catalyst-ir.com or 212-924-9800
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256172
FAQ
What is the value of MITQ's new Barco laser projector installation contract?
When will MITQ begin installations for the new Barco projector contract?
How will MITQ recognize revenue from the $9M Barco projector contract?
What equipment is included in MITQ's $9M cinema technology contract?
How many theaters will receive new Barco laser projectors under MITQ's contract?
