Reported Q: Q3 2024 Rev YoY: +4.0% EPS YoY: -95.9% Move: -2.75%
Moving iMage Technologies
MITQ
$0.686 -2.75%
Exchange AMEX Sector Technology Industry Communication Equipment
Q3 2024
Published: May 15, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for MITQ

Reported

Report Date

May 15, 2024

Quarter Q3 2024

Revenue

3.89M

YoY: +4.0%

EPS

-0.06

YoY: -95.9%

Market Move

-2.75%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $3.89M up 4% year-over-year
  • EPS of $-0.06 decreased by 95.9% from previous year
  • Gross margin of 16.9%
  • Net income of -601.00K
  • ""a major part of our strategy going forward is to shift our mix towards higher margin products as well as smooth out the lumpiness and cyclicality."" - Joe Delgado
MITQ
Company MITQ

Executive Summary

Moving iMage Technologies (MITQ) reported Q3 FY2024 results with revenue of $3.89 million, up 4% year over year, but produced a negative EBITDA and net income of $0.60 million and a $0.60 per share loss. Gross profit was $0.657 million, yielding a gross margin of 17.4%, down from the prior year due to an unfavorable mix (notably including an order to resell seats with a low-double-digit margin). Management emphasized a deliberate pivot toward higher-margin, scalable growth engines to smooth cyclicality in FF&E projects and lift overall margins as emerging products scale. The company contends that the cinema market remains challenged by industry headwinds from strikes and reduced box office activity in 2024, but remains poised for longer‑term upside through MiTranslator, CineQC, Move Esports, and E‑caddy, complemented by LEA partnership opportunities and ongoing corporate development activity. MITQ closed Q3 with ~$5.95 million in cash and negligible net debt, providing runway to fund R&D and selective project opportunities while the legacy FF&E business recovers with industry normalization. The near-term outlook anticipates continued pressure on revenue and gross margin in Q4 as remaining FF&E seat orders wind down, with several high-margin initiatives expected to expand progressively in 2025 and beyond, subject to cinema industry recovery and the pace of product ramp plans.

Key Performance Indicators

Revenue
Increasing
3.89M
QoQ: 19.14% | YoY: 3.98%
Gross Profit
Decreasing
657.00K
16.89% margin
QoQ: -13.44% | YoY: -36.95%
Operating Income
Decreasing
-649.00K
QoQ: 21.81% | YoY: -23.38%
Net Income
Decreasing
-601.00K
QoQ: 24.31% | YoY: -86.65%
EPS
Decreasing
-0.06
QoQ: 22.68% | YoY: -95.92%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2026 5.58 0.05 -12.1% View
Q3 2025 3.57 -0.02 -8.2% View
Q2 2025 3.44 -0.05 +5.4% View
Q1 2025 5.25 0.00 -20.8% View
Q4 2024 6.35 -0.04 +10.0% View
Q3 2024 3.89 -0.06 +4.0% View