MITQ reported Q1 2025 revenue of $5.25 million, down 20.8% year over year and 17.3% sequentially, with a gross margin of 26.1% and an operating loss of $68 thousand. The quarter featured ongoing industry volatility from Hollywood strikes in the prior year, but management signaled a reset and early signs of a box-office resurgence that could support a longer-term upgrade cycle in cinema technology. The company completed meaningful cost reductions, delivering flat operating expenses versus the prior year and breakeven EPS despite a difficult year-ago comparator. Management is prioritizing revenue growth through the technology refresh cycle, LEA Professional distribution in cinema markets, and new growth avenues in Esports and E-Caddy. A leadership transition positions Francois Godfrey as President & COO, with a plan to share a medium-term growth plan in the February earnings call. The near-term outlook remains cautious due to seasonality in Q2 and the uncertain pace of order flow, but the long-run opportunity set appears favorable if the upgrade cycle and new initiatives scale as anticipated.