Cinema software company Vista Group has reduced its interim losses, thanks to higher revenue and improved margins, while concentrating on expanding its cloud-based platform.
For the six months ended in June, the company reported an improvement in its financial performance compared to the same period a year ago. Net loss narrowed to $1.2 million from $2.7 million, while revenue increased to $77.0 million, up from $69.6 million.
Underlying earnings rose to $10.0 million, compared with $7.2 million previously. Operating cash flow also saw a boost, reaching $14.1 million compared to $3.0 million in the prior year.
The company said the results highlight Vista Group’s emphasis on expanding Vista Cloud, a platform aimed at modernising cinema operations.
“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.
Odeon Cinemas Group and Village Cinemas Australia are two of the new Vista Cloud clients.
Vista Group said it is working on increasing capacity within its technology and delivery teams to onboard new clients and address current demand.
Dickinson said he is confident in the company’s future prospects, expecting annual recurring revenue to reach $175 million in 2026. He further stated that the company intends to expand recurring revenue to $315 million per year.