secwatch.observer — SEC 8-K summary
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Issuer:     MOVING iMAGE TECHNOLOGIES INC. (MITQ)
CIK:        0001770236
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001558370-24-001158
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1770236/000155837024001158/0001558370-24-001158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1770236/000155837024001158/mitq-20240214x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-001158

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer