FOUNTAIN VALLEY, California - Moving iMage Technologies, Inc. (NYSE American: MITQ), a provider of entertainment technology for cinemas, Esports, stadiums, and arenas, announced its financial results for the third quarter ended March 31, 2025 (Q3'25) on May 15, 2025 [1][2][3].

The company reported a revenue decline of 8.2% to $3.571 million, compared to $3.890 million in the same quarter last year. This decrease was primarily attributed to delays in the commencement of several customer projects, which are now anticipated to begin in Q4'25 or fiscal year 2026 [1][3].

Despite the revenue drop, Moving iMage Technologies saw improvements in other financial metrics. Gross profit increased by $387,000 to $1.063 million, up from $676,000 in Q3'24. The gross margin percentage also saw a significant rise, reaching 29.8% compared to 17.4% in the previous year [1][3].

Phil Rafnson, Chairman and CEO of Moving iMage Technologies, commented on the results: "In the face of business and economic uncertainties impacting our customers' near-term spending decisions, we remain focused on building our project pipeline with new and existing customers while also working to reduce expenses, focus on higher margin opportunities and preserving our cash position" [2].

The company maintained a stable net cash position of $5.4 million at the end of the quarter [1][2][3]. Moving iMage Technologies remains optimistic about long-term prospects, particularly in the cinema technology sector. Rafnson added, "Despite these transitory impacts, we remain confident in the substantial longer term business potential of the cinema technology refresh cycle involving the replacement of thousands of legacy cinema projectors and sound systems with state-of-the-art technology" [2].

The company scheduled an investor call for May 15, 2025, at 11 am ET to discuss the results in more detail [1][2][3].