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Moving iMage Technologies (MITQ)
NYSE MKT:MITQ
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: 7.59%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
MiT is navigating a challenging environment with industry recovery in progress. While revenue and profits have declined, the company is positioned to capitalize on growth opportunities in technology upgrades and new initiatives like eCaddy and LEA Professional partnership. However, the financial downturn and challenges in eSports indicate areas of concern.Company Guidance
During the Moving iMage Technologies Q1 2025 earnings call, the leadership team provided a detailed account of the company's performance and future prospects. Revenue for the quarter declined by approximately 21% year-over-year to $5.3 million, influenced by the Hollywood strike, which disrupted momentum from the prior fiscal year's recovery. Gross profit fell 24.6% to $1.4 million, with a gross margin of 26.1%, reflecting a sequential improvement in the mix despite a 130 basis point drop from the previous year. Operating expenses remained flat at $1.4 million, following cost reductions that removed around $600,000 in annualized costs. The company reported an operating loss of $68,000, achieving EPS breakeven, contrasting with a $0.4 million operating income and $0.04 EPS in the prior year. Cash and cash equivalents decreased slightly to $5.2 million. Looking ahead, MiT is optimistic about capitalizing on a favorable industry spending environment and upcoming technology upgrade cycles in cinema, as well as exploring growth in eSports and the innovative eCaddy platform.Cinema Industry Rebound
The industry is showing signs of recovery from the Hollywood strikes, with major players like AMC, Regal, and Cinemark reporting improvements. There is renewed enthusiasm for in-theater experiences.
Technology Upgrade Opportunity
Thousands of projectors and servers are due for replacement, presenting a growth opportunity for MiT to support clients' evolving technological demands.
LEA Professional Partnership
MiT has secured global distribution rights for LEA Professional's smart power amplifiers, creating a significant opportunity with high margins and an extended warranty.
eCaddy Potential
The eCaddy platform, designed for stadiums and arenas, has significant market potential with positive feedback from sports executives.
Cash Position
Despite challenges, the company remains well-capitalized with cash and cash equivalents of $5.2 million, only down $32,000.
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MITQ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MITQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $0.63 | $0.60 | -4.76% |
| Sep 26, 2024 | $0.56 | $0.57 | +1.79% |
| May 15, 2024 | $0.53 | $0.54 | +1.89% |
| Feb 14, 2024 | $0.84 | $0.67 | -20.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Moving iMage Technologies (MITQ) report earnings?
Moving iMage Technologies (MITQ) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Moving iMage Technologies (MITQ) earnings time?
Moving iMage Technologies (MITQ) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MITQ EPS forecast?
Currently, no data Available
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