Moving iMage Q3 revenue up 4% to $3.9M but net loss widens to $0.6M; strike impact continues

MOVING iMAGE TECHNOLOGIES INC.

2024-Q3 EPS reported -$0.09 revenue$13,790,000

Revenue $3.9M (+4% YoY); gross margin fell to 17.4% from 27.9%, hurt by a low-margin seat order.
GAAP net loss of $0.6M ($0.06 EPS) vs $0.4M loss a year ago; non-GAAP net loss also $0.6M.
Cash on hand $5.9M; company repurchased 310,000 shares during the quarter.
Management expects Q4 industry hangover to continue; notes LEA amp testing with top-10 circuits.
CineQC rollout delayed; co to invest low six figures for technology upgrade over two quarters.

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 financial results for fiscal quarter ended March 31, 2024.

Period: fiscal quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 15, 2024, Moving iMage Technologies, Inc. (the “Company”) issued a press release and conducted a conference call, both of which reported certain financial results for the fiscal quarter ended March 31, 2024. Copies of the press release and the transcript of the conference call are attached hereto as Exhibits 99.1 and 99.2, respectively, and the information therein is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001770236-24-000026

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