MITQ Earnings Prediction
The chart below shows how MITQ performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MITQ sees a -1.15% change in stock price 10 days leading up to the earnings, and a -12.60% change 10 days following the report. On the earnings day itself, the stock moves by +1.90%. This data can give you a slight idea of what to expect for the next quarter's release.
MITQ Key Earning Data
MITQ Earnings Analysis
Positive
Revenue Increase Analysis: Revenue increased by 4% to $3.9 million compared to last year.
Gross Profit Margin Performance: The company reported a gross profit margin of 17.4% in the quarter, reflecting strong operational performance.
Strong Liquidity Position: Cash and cash equivalents were $5.9 million at the end of the third quarter, indicating solid liquidity.
Market Position Enhancement: The company successfully completed testing with the top 5 cinema circuits, enhancing its market position.
New Product Growth Potential: The introduction of new products, including the E-caddy concept, is expected to drive significant growth in the upcoming year.
Negative
Gross Profit Decline: Gross profit decreased to $0.7 million from $1 million last year, indicating a significant decline in profitability.
Gross Margin Decline: Gross margin was down 1050 basis points to 17.4% in the quarter, resulting from an unfavorable product mix due to an order to resell seats, which had a low double-digit gross margin.
Operating Loss Increase: GAAP operating loss was $0.6 million versus a loss of $0.4 million last year, demonstrating worsening financial performance.
Increased Net Loss Per Share: Both GAAP and non-GAAP net loss was $0.6 million or $0.06 per share versus GAAP and non-GAAP net loss of $0.4 million and $0.04 per share last year, indicating increased losses per share.
Revenue and Margin Decline: We expect revenue and gross margin to be down in fiscal Q4 as we complete the remainder of the order to resell the seats, reflecting ongoing challenges.
MITQ FAQs
How does MITQ typically perform around its earnings report dates?
MITQ's stock performance around earnings reports can vary, but historical data shows specific patterns, such as a -1.15% change leading up to the report and a -12.60% change in the 10 days following the release.
Is Moving iMage Technologies, Inc. (MITQ) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
MITQ Earning Call Sentiment
Moving iMage Technologies, Inc. (MITQ) Q3 2024 Earnings Call Transcript
MITQ.A
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