8-K
filed September 26, 2023, 7:59 PM ET
ticker MITQ
CIK 0001770236
earnings
confidence high
sentiment neutral
materiality 0.60
MITQ FY2023 revenue +10% to $20.2M; GAAP net loss widens to $1.8M ($0.17/sh)
MOVING iMAGE TECHNOLOGIES INC.
- FY2023 revenue $20.2M (+10.1% YoY); gross margin expanded 200bps to 26.3%.
- GAAP net loss $1.8M ($0.17 loss per share) vs $1.3M loss in FY2022.
- Non-GAAP net loss narrowed to $0.7M ($0.07/sh) from $1.5M ($0.14/sh).
- Q4 net loss $1.3M ($0.12/sh) vs $0.7M; included $1.0M non-cash write-downs.
- FY2024 guidance: low double-digit revenue growth, targeting non-GAAP break-even.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
MOVING iMAGE TECHNOLOGIES INC. reported Fiscal Year 2023 results: revenue $20.2 million.
- Period
- Fiscal Year 2023
- Revenue
- $20.2 million
- Result
- reported results
Exact text from the filing
Fiscal Year 2023 Highlights (versus Fiscal 2Q22) · Revenue of $20.2 million compared to $18.4 million; · Gross Profit of $5.3 million compared to $4.5 million, Gross Margin expanded by 200 basis points to 26.3%; · GAAP Operating Loss of ($2.0) million compared to ($1.8) million; o GAAP Operating loss in fiscal 2023 included ($1.0 million) in non-cash accounting write-downs; · GAAP Net Loss and Loss per Share of ($1.8) million and ($0.17) compared to ($1.3) million and ($0.13), respectively; · Non-GAAP Net Loss and Loss per Share of ($0.7) million and ($0.07) compared to Non-GAAP Net Loss and Loss per Share of ($1.5) million and ($0.14), respectively.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
MOVING iMAGE TECHNOLOGIES INC. updated its Fiscal 2024 guidance (initiated).
- Period
- Fiscal 2024
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Fiscal 2024 Commentary “Given the lumpy nature of our legacy business, we are approaching fiscal 2024 guidance cautiously by targeting low double-digit revenue growth from our legacy businesses while continuing to move towards break-even on a non-GAAP basis.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
MOVING iMAGE TECHNOLOGIES INC. reported Fourth Quarter Fiscal 2023 results: revenue $5.8 million.
- Period
- Fourth Quarter Fiscal 2023
- Revenue
- $5.8 million
- Result
- reported results
Exact text from the filing
Fourth Quarter Fiscal 2023 Highlights (versus Fiscal 2Q22) · Revenue of $5.8 million compared to $5.6 million; · Gross Profit of $1.4 million compared to $1.5 million, and Gross Margin of 24.2%; · GAAP Operating Loss of ($1.4) million compared to ($0.5) million; o GAAP Operating loss in fiscal 2023 included ($1.0 million) in non-cash accounting write-downs; · GAAP Net Loss and Loss per Share of ($1.3) million and ($0.12) compared to ($0.7) million and ($0.07), respectively; · Non-GAAP Net Loss and Loss per Share of ($0.2) million and ($0.02) compared to ($0.7) million and ($0.06), respectively.
View on SEC.gov
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