Moving iMage Technologies Q2 FY2024 revenue down 33% to $3.3M; net loss $0.8M

MOVING iMAGE TECHNOLOGIES INC.

2024-Q2 EPS reported -$0.03 revenue$9,900,000

Revenue $3.3M, down 32.6% YoY; gross profit $0.8M, margin 23.2% (down from 27.1%).
GAAP operating loss of $0.8M vs loss of $0.1M in prior year; GAAP net loss $0.8M ($0.07 EPS).
Non-GAAP net loss also $0.8M ($0.07 EPS), compared to break-even non-GAAP net income last year.
YTD revenue $9.9M (-7.4%); operating loss $0.4M vs $0.1M loss.
Management cites end of SVOG spending and strikes as headwinds; sees potential in LEA amplifiers and E-caddy.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MOVING iMAGE TECHNOLOGIES INC. reported fiscal quarter ended December 31, 2023 results: revenue $3.3 million, net income ($0.8) million, EPS ($0.07).

Period: fiscal quarter ended December 31, 2023
Revenue: $3.3 million
Net income: ($0.8) million
EPS: ($0.07)
Result: reported results

Exact text from the filing

however, we did see continued benefits from the ongoing technology upgrade cycle.” Second Quarter Highlights (Fiscal 2024 versus Fiscal 2023) ● Revenue decreased 32.6% to $3.3 million compared to $4.8 million; ● Gross Profit decreased to $0.8 million compared to $1.3 million; Gross Margin of 23.2%; ● GAAP Operating Loss of ($0.8) million compared to ($0.1)

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Source: SEC EDGAR

accession 0001558370-24-001158

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