4 days ago
Cinema software firm Vista Group trims interim losses
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Cinema software company Vista Group has trimmed its interim losses as revenue and margins increased, while it's focusing on scaling its cloud-based platform.
Key numbers for the six months ended June compared with a year ago:
The company said the results reflect Vista Group's strategic focus on scaling Vista Cloud, which is designed to modernise and streamline cinema operations.
New Vista Cloud clients include Odeon Cinemas Group and Village Cinemas Australia.
"Demand for Vista Cloud continues to grow, reflecting strong market appetite for our cloud solutions, with demand now exceeding our delivery capacity," chief executive Stuart Dickinson said.
The company said it was adding capacity to its technology and delivery teams to onboard new clients and meet the present demand.
Total revenue increased 11 percent, while its loss after-tax loss improved 56 percent to $1.2 million.
Vista maintained its full-year revenue guidance of $167m and operating margins of between 16 and 18 percent.
The company expects annual recurring revenue to hit $175m in 2026.
Dickinson said he was confident in the company's future.
He said the company aimed to eventually grow recurring revenue to $315m per year.
