false
0001770236
0001770236
2026-02-13
2026-02-13
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 13, 2026
MOVING iMAGE TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
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001-40511
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85-1836381
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|
(Commission File Number)
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(IRS Employer Identification No.)
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| |
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17760 Newhope Street, Fountain Valley, CA
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92708
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(Address of Principal Executive Offices)
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(Zip Code)
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(714) 751‑7998
(Registrant’s Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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|
☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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|
☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbols
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Name of each exchange on which registered
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Common Stock, $0.00001 par value
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MITQ
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NYSE American LLC
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b‑2 of the Securities Exchange Act of 1934 (17 CFR §240.12b‑2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On February 12, 2026, Moving iMage Technologies, Inc. (the “Company”) issued a press release and conducted a conference call, both of which reported certain financial results for the three months ended December 31, 2025. Copies of the press release and the transcript of the conference call are attached hereto as Exhibits 99.1, and the information therein is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure
The information under Item 2.02 above is incorporated herein by reference.
The information reported under this Item 7.01 in this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 attached herein, shall not be deemed filed for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the securities Act of the Exchange Act, regardless of any general incorporation language in such filing
Item 9.01 Financial Statements and Exhibits.
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Exhibit
No.
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Exhibit
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99.1
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Press Release dated February 12, 2026
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104
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Moving iMage Technologies, Inc.
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Date: February 13, 2025
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By:
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/s/ William Greene
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Name:
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William Greene
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Title:
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Chief Financial Officer
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Exhibit 99.1
Moving iMage Technologies Achieves Q2 Revenue of $3.8M; Hosts Call Today at 11am ET
Fountain Valley, California--(Newsfile Corp. - February 12, 2026) - Moving iMage Technologies, Inc. (NYSE American: MITQ) "MiT", a leading provider of cutting-edge out-of-home entertainment technology and services for cinema, stadiums, arenas, Esports, and other venues, announced results for its fiscal 2026 second quarter ended December 31, 2025 (Q2'26) and will hold an investor call today at 11am ET (see call details below).
Highlights
| |
●
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Acquired globally respected DCS premium cinema loudspeaker line from QSC for $1.5M in cash in Q2'26. Proven in a wide range of cinema use cases, the DCS line expands MiT's proprietary product offering, value proposition and growth potential in North America and also provides a compelling opportunity to expand MiT's reach into international markets where DCS has a substantial install base.
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●
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Q2'26 revenue rose 10% to $3.8M, reflecting a modest improvement in sales activity across the business during the seasonally slower Q2 holiday film release period.
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●
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Q2'26 gross margin was 30.7% vs. 27.2% in Q2'25, primarily driven by a greater percentage of higher margin product revenues.
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●
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Q2'26 gross profit was $1.165M vs. $936k in Q2'25, reflecting higher revenue and gross margin percentage.
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●
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Q2'26 operating loss of $(408k) vs. ($561k) in Q2'25, reflecting higher gross profit and offset by a $76k increase in operating expenses driven in part by higher legal expense.
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●
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Similarly, Q2'26 net loss decreased to $(388k), or $(0.04) per share, vs. a net loss of $(527k) or ($0.05) per share, in Q2'25, reflecting the benefit of an improvement in operating loss.
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●
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Closed Q2'26 with working capital of $4.5M, including net cash of $3.9M (approx. $0.39 per common share) and zero debt. The Q2'26 balance sheet reflects the $1.5M cash payment for the DCS purchase as well as the addition of related loudspeaker inventories.
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Moving Image Chairman and CEO, Phil Rafnson, commented, "MiT achieved 10% revenue growth in the second quarter, a typically slow period in our industry as exhibitors are focused on holiday box office performance. We are now picking up with customer dialogues regarding their cinema projects for the balance of the year and are pleased by the initial response we are getting to our DCS loudspeaker and LEA amplifier offerings. Demand from theater audiences for immersive and premium large formats continues to be strong, and we continue to position MiT as a best-in-class partner to deliver cutting-edge solutions. We are cautiously optimistic regarding our outlook given our expanded array of cinema and cinema audio solutions and by expectations for a rebound in domestic box office receipts in calendar 2026."
President and COO, Francois Godfrey, added, "We have hit the ground running in our efforts to incorporate the DCS loudspeaker line and operations into our business. DCS is an exciting opportunity that builds on our existing product portfolio with a highly respected, proprietary product line and provides us meaningful entry into international markets where we have been largely absent. We have made good progress onboarding the business and setting up the internal and external systems and resources required to ensure the highest quality customer service.
"Leveraging DCS's well-established industry reputation, we are also building out our network of international dealers to carry the DCS line, as well as LEA amplifiers and other MiT solutions as possible. We are seeing encouraging interest in DCS products around the globe. To date, we have signed distribution relationships with over 25 established cinema equipment dealers in the EMEA, APAC, Americas and SAARC regions to promote DCS in over fifty countries and are continuing to advance discussions in a range of other countries. Equally important, we have executed initial shipments with customers in the US, UK, Taiwan, Thailand, Korea, Germany, Italy, Chile, and Vietnam. Closer to home, one of our longstanding clients has recently committed to a multi-year contract for DCS loudspeakers and we hope to provide more details once product shipments are underway.
"Furthermore, several organizations that cater to emerging cinema markets are increasing investment in cinema and audio equipment in line with an expanding array of in-country content being produced. The global reputation of DCS gives us credible entree to pursue these opportunities.
"The solid attendee engagement we experienced at CineAsia Thailand in December confirmed the potential for MiT to participate in remodel and new theater construction opportunities happening across India and Southeast Asia.
"We currently expect Q3'26 revenue of approximately $3M with gross margin percentage returning to prior year's lower levels. We feel MiT has taken the right steps focused on the core business and a strong foundation through margin and cost initiatives designed to progress our business toward consistent profitability. We are excited for new growth channels that should stem from the DCS loudspeaker line acquisition and are diligently pursing the relationships necessary to achieve a vibrant dealer network on all continents which is a precursor to long term success on that front."
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Conference Call Details
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Dial-in Number:
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1-877-407-4018
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Toll/International Number:
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1-201-689-8471
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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.
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Transcript:
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Posted online here 48 hours after the event
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Questions can be submitted in advance via Email to:
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mitq@catalyst-ir.com
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Telephone Replay
Access ID: 13758560
Replay Dial-In: 1-844-512-2921 or 1-412-317-6671
Replay Expiration: February 28, 2026 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 (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 also markets the DCS product line of premium cinema loudspeakers.
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@catalyst-ir.com or 212-924-9800
MOVING IMAGE TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands except share and per share amounts)
| |
|
December 31,
|
|
|
June 30,
|
|
| |
|
2025
|
|
|
2025
|
|
| |
|
(unaudited)
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Current Assets:
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
3,913
|
|
|
$
|
5,715
|
|
|
Accounts receivable, net
|
|
|
962
|
|
|
|
1,464
|
|
|
Inventories, net
|
|
|
3,080
|
|
|
|
2,066
|
|
|
Prepaid expenses and other
|
|
|
170
|
|
|
|
162
|
|
|
Total Current Assets
|
|
|
8,125
|
|
|
|
9,407
|
|
|
Long-Term Assets:
|
|
|
|
|
|
|
|
|
|
Right-of-use asset
|
|
|
973
|
|
|
|
1,087
|
|
|
Property and equipment, net
|
|
|
9
|
|
|
|
15
|
|
|
Intangibles, net
|
|
|
334
|
|
|
|
364
|
|
|
Other assets
|
|
|
15
|
|
|
|
15
|
|
|
Total Long-Term Assets
|
|
|
1,331
|
|
|
|
1,481
|
|
|
Total Assets
|
|
$
|
9,456
|
|
|
$
|
10,888
|
|
| |
|
|
|
|
|
|
|
|
|
Liabilities And Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Current Liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
2,128
|
|
|
$
|
3,009
|
|
|
Accrued expenses
|
|
|
366
|
|
|
|
362
|
|
|
Customer refunds
|
|
|
268
|
|
|
|
379
|
|
|
Customer deposits
|
|
|
581
|
|
|
|
1,101
|
|
|
Lease liability–current
|
|
|
243
|
|
|
|
227
|
|
|
Unearned warranty revenue
|
|
|
77
|
|
|
|
35
|
|
|
Total Current Liabilities
|
|
|
3,663
|
|
|
|
5,113
|
|
| |
|
|
|
|
|
|
|
|
|
Long-Term Liabilities:
|
|
|
|
|
|
|
|
|
|
Lease liability–non-current
|
|
|
794
|
|
|
|
918
|
|
|
Total Long-Term Liabilities
|
|
|
794
|
|
|
|
918
|
|
|
Total Liabilities
|
|
|
4,457
|
|
|
|
6,031
|
|
|
Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
Common stock, $0.00001 par value, 100,000,000 shares authorized, 9,945,115 and 9,939,080 shares issued and outstanding at December 31, 2025 and June 30, 2025, respectively
|
|
|
—
|
|
|
|
—
|
|
|
Additional paid-in capital
|
|
|
12,081
|
|
|
|
12,061
|
|
|
Accumulated deficit
|
|
|
(7,082
|
)
|
|
|
(7,204
|
)
|
|
Total Stockholders’ Equity
|
|
|
4,999
|
|
|
|
4,857
|
|
|
Total Liabilities and Stockholders’ Equity
|
|
$
|
9,456
|
|
|
$
|
10,888
|
|
MOVING IMAGE TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except share and per share amounts)
(unaudited)
| |
|
Three Months Ended
|
|
|
Six Months Ended
|
|
| |
|
December 31,
|
|
|
December 31,
|
|
| |
|
2025
|
|
|
2024
|
|
|
2025
|
|
|
2024
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
$
|
3,793
|
|
|
$
|
3,441
|
|
|
$
|
9,375
|
|
|
$
|
8,693
|
|
|
Cost of goods sold
|
|
|
2,628
|
|
|
|
2,505
|
|
|
|
6,536
|
|
|
|
6,386
|
|
|
Gross profit
|
|
|
1,165
|
|
|
|
936
|
|
|
|
2,839
|
|
|
|
2,307
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
47
|
|
|
|
47
|
|
|
|
95
|
|
|
|
109
|
|
|
Selling and marketing
|
|
|
446
|
|
|
|
462
|
|
|
|
832
|
|
|
|
991
|
|
|
General and administrative
|
|
|
1,080
|
|
|
|
988
|
|
|
|
1,969
|
|
|
|
1,836
|
|
|
Total operating expenses
|
|
|
1,573
|
|
|
|
1,497
|
|
|
|
2,896
|
|
|
|
2,936
|
|
|
Operating (loss)
|
|
|
(408
|
)
|
|
|
(561
|
)
|
|
|
(57
|
)
|
|
|
(629
|
)
|
|
Other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Extinguishment of payables
|
|
|
—
|
|
|
|
—
|
|
|
|
128
|
|
|
|
—
|
|
|
Interest and other income, net
|
|
|
20
|
|
|
|
34
|
|
|
|
51
|
|
|
|
77
|
|
|
Total other income
|
|
|
20
|
|
|
|
34
|
|
|
|
179
|
|
|
|
77
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
(388
|
)
|
|
$
|
(527
|
)
|
|
$
|
122
|
|
|
$
|
(552
|
)
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.04
|
)
|
|
$
|
(0.05
|
)
|
|
|
0.01
|
|
|
|
(0.06
|
)
|
|
Diluted
|
|
$
|
(0.04
|
)
|
|
$
|
(0.05
|
)
|
|
$
|
0.01
|
|
|
$
|
(0.06
|
)
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
9,942,658
|
|
|
|
9,896,850
|
|
|
|
9,940,890
|
|
|
|
9,896,850
|
|
|
Diluted
|
|
|
9,942,658
|
|
|
|
9,896,850
|
|
|
|
10,253,390
|
|
|
|
9,896,850
|
|
MOVING IMAGE TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
| |
|
Six Months Ended
|
|
| |
|
December 31,
|
|
| |
|
2025
|
|
|
2024
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
122
|
|
|
$
|
(552
|
)
|
|
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
|
|
|
|
|
|
|
|
|
|
Provision for credit losses
|
|
|
110
|
|
|
|
19
|
|
|
Inventory reserve
|
|
|
49
|
|
|
|
163
|
|
|
Depreciation expense
|
|
|
6
|
|
|
|
7
|
|
|
Amortization expense
|
|
|
30
|
|
|
|
29
|
|
|
Right-of-use amortization
|
|
|
114
|
|
|
|
133
|
|
|
Stock compensation expense
|
|
|
15
|
|
|
|
37
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
392
|
|
|
|
280
|
|
|
Inventories
|
|
|
(1,063
|
)
|
|
|
833
|
|
|
Prepaid expenses and other
|
|
|
(8
|
)
|
|
|
260
|
|
|
Accounts payable
|
|
|
(881
|
)
|
|
|
(619
|
)
|
|
Accrued expenses and customer refunds
|
|
|
(102
|
)
|
|
|
111
|
|
|
Unearned warranty revenue
|
|
|
42
|
|
|
|
34
|
|
|
Customer deposits
|
|
|
(520
|
)
|
|
|
(594
|
)
|
|
Lease liabilities
|
|
|
(108
|
)
|
|
|
(103
|
)
|
|
Net cash (used in) provided by operating activities
|
|
|
(1,802
|
)
|
|
|
38
|
|
| |
|
|
|
|
|
|
|
|
|
Net decrease in cash
|
|
|
(1,802
|
)
|
|
|
38
|
|
|
Cash, beginning of the period
|
|
|
5,715
|
|
|
|
5,278
|
|
|
Cash, end of the period
|
|
$
|
3,918
|
|
|
$
|
5,316
|
|
| |
|
|
|
|
|
|
|
|
|
Non-cash investing and financing activities:
|
|
|
|
|
|
|
|
|
|
Accruals settled by stock issuance
|
|
$
|
5
|
|
|
$
|
—
|
|
|
Right-of-use assets from new lease
|
|
$
|
—
|
|
|
$
|
(207
|
)
|
|
Right-of-use assets from lease modification
|
|
$
|
—
|
|
|
$
|
(988
|
)
|
