NYSE: MITQ

We are a provider of technology, products, and services to movie theater operators and sports and entertainment venues.

1)

We provide a set of services to movie theater operators and other critical screening and viewing rooms. These services include overall project management, which can encompass a wide range of design, integration, installation, and procurement services for new auditorium builds, refurbishments, or upgrades to existing facilities.

2)

We design and manufacture a set of proprietary products that are sold either as part of our project management services or a la carte. Examples of these products include our ADA-compliant accessibility products and other products sold into our strategic markets of motion picture exhibition, entertainment, and sports venues as well as other non-strategic markets. We also resell third-party technologies, including but not limited to items such as screens, projectors, and servers.

3)

We resell third-party products as part of our project management services or a la carte. These include technology products such as screens, projectors, servers, and FF&E (furniture, fixtures, and equipment).

4)

Finally, we have introduced a set of products intended to address additional movie theater, entertainment and sports venue industries applications. For example, our operations and theater management solution include a software-as-a-service (SaaS) platform combined with other technologies that allow theater operators to manage their quality control. We have also developed a translator product and service that will enable moviegoers to watch a movie in any language that the film is available in, all in the same auditorium through a set of augmented reality glasses. Another example is a proprietary mobile cart we’ve developed to enable eSports and gaming in movie-theater auditoriums.

Industry and Revenue Drivers

Our Industry

Trends

In 2025, U.S./Canada box office revenues increased to approximately $8.9 billion, compared to approximately $8.7 billion in 2024, driven by a stronger and more consistent film release schedule. Global box office revenues also improved, reaching approximately $33.6 billion in 2025, reflecting the continued recovery of the theatrical exhibition industry.

Convenient and Affordable Form of Out-Of-Home Entertainment. Movie-going continues to be one of the most affordable forms of out-of-home entertainment, with an estimated average ticket price in the U.S. of $11.75 in 2025. Movie theaters continue to draw more people than all theme parks and major U.S. sports combined according to the Motion Picture Association of America.

Introduction of New Platforms and Product Offerings that Enhance the Movie-Going Experience. The motion picture exhibition industry continues to develop new movie theater platforms and concepts to respond to varying and changing consumer preferences. In addition to changing the overall style of, and amenities offered in, some theaters, concession product offerings have continued to expand beyond more than just traditional popcorn and candy items. Many locations now offer a full dining and entertainment experience that include appetizers, entrees, desserts, alcohol beverages and/or healthier snack options for guests.

In addition, luxury seats are offered in many locations, further enhancing the movie viewing experience. New technologies like motion seats, immersive sound and virtual reality are also offered for in-theater enjoyment at some locations.

New Theater Construction. Exhibitor Capital Investment Cycle. In addition to selective new theater development, cinema operators are continuing to invest in technology upgrades and theater modernization initiatives. As exhibitors seek to differentiate the theatrical experience through premium presentation quality and operational efficiency, investments in laser projection, immersive audio systems, digital signage, automation, accessibility solutions, and luxury amenities remain priorities. We believe these trends support ongoing demand for our products and services and position us to participate in both new theater projects and existing theater renovation and technology refresh initiatives.

Seating, equipment and operations upgrades. Movie theaters have a long history of offering amenities to lure people out of their homes and into the cinemas. Demand for our FF&E services and product offerings are driven in part by exhibitors investing in innovation. There is demand for our FF&E and product offerings for refurbishing and upgrading locations with recliner seats, immersive audio and operations enhancements.

According to industry sources, there were more than 215,000 commercial cinema screens operating worldwide in 2025, including approximately 41,000 screens in the United States. The global transition from film-based to digital cinema has largely been completed, with digital systems representing approximately 96% of commercial cinema screens worldwide. Industry investment is increasingly focused on technology refresh and premium presentation formats, including laser projection, immersive audio, premium large-format auditoriums, and cinema LED display technologies. Laser projection continues to gain adoption across global exhibition due to its improved image quality, longer operating life, and lower maintenance requirements compared to traditional lamp-based systems. In North America and other major markets, exhibitors have announced and implemented multi-year capital expenditure programs that include significant laser projection deployments and other premium cinema upgrades designed to enhance the moviegoing experience.

Caddy Product. Live viewing of sports has recovered to pre-pandemic levels with stadiums and arenas selling out regularly. However, new builds, upgrades, and refurbishments of new stadiums and arenas have not recovered as quickly as the movie theater industry.

Products, Enterprise Software Solutions and Technical Services

Products

New Business Initiatives

On October 31, 2025, Moving iMage Technologies, Inc. (the “Company”) entered into an Asset Purchase Agreement with QSC, LLC. The Company purchased QSC’s Digital Cinema Speaker Series (“DCS”) loudspeaker product line and related trademarks, designs, and trade secrets; inventory and raw materials; OEM supplier agreements; product technical documentation; and rights to service and support existing DCS custom for a purchase price of $1.5 million.

The Company now offers a wide range of premium audio, video, and cinema technology brands that complement the Company's in-house designed, manufactured, and assembled products, subsystems, and accessories. The Company’s solutions include cinema projection systems, media servers, signal processing, power amplification, and the Company’s proprietary DCS Cinema loudspeaker systems, which are designed to deliver premium cinema audio performances for exhibitors worldwide. Together, these products enable fully integrated and automated cinema environments for theater chains, studios, post-production facilities, screening rooms, and ultra-high-end residential cinemas.

● The Company's manufactured product portfolio includes DCS loudspeaker systems, green-energy LED lighting solutions for cinemas, performance venues, and meeting spaces, as well as proprietary dimming, power management, and control products. These offerings are further integrated through enterprise software solutions that provide centralized equipment monitoring, management, automation, and operational control.

● We provide the cinematic exhibition industry with a single-source solution encompassing system design, engineering, procurement, manufacturing, integration, logistics, project management, installation, commissioning, and ongoing support for projects ranging from individual auditoriums to large-scale multinational cinema deployments.

Projectors and Media Servers — the Company has distribution and Master Reseller agreements for the Americas with world class manufacturers Sharp-NEC, Barco, Dolby, GDC and Christie. We provide a complete range of DCI compliant cinema projectors and media servers to accommodate any screen size or application. The afore-mentioned brands are the largest manufacturers of high-end DCI compliant digital cinema projectors and media servers in the world. All manufacturers provide the Company with an accommodation to resell and distribute in defined projects in other areas of the world.

The Company in-house designed, manufactured and assembled sub-systems – the Company designs and manufactures automation, pedestal, projection pod (for booth less operations), and power management systems. These mission critical components tie projectors, media servers, lighting and sound systems together to ensure a robust cinematic experience.

Audio Systems — the Company has distribution and Master Reseller agreements for the Americas with world class manufacturers of signal processing, amplification and loudspeakers by Dolby, QSC, Samsung (Harman, JBL, Crown), Trinnov, LEA Professional, Krixx and Meyer Sound. This wide-ranging selection allows the Company to offer premium sound systems to complete the immersive movie-going experience. We integrate these components along with our in-house energy efficient solutions to improve onsite installation time, reliability and operational performance.

“Green energy efficient” Products, Lighting Fixtures and Dimmers — We offer a series of in-house designed and assembled lighting products and dimmers designed to reduce energy consumption in cinemas, theaters, and performance venues. LED-based lighting has rapidly become an important aspect of the Company’s product line, offering advantages in efficiency and reduced maintenance, which translate into lower operating costs. We believe our green initiative Architectural LED Fixture (ALF) is the first LED-based 8” downlight luminaire and companion the Company’s M-Series lighting dimmers are specifically designed for commercial cinemas, screening rooms, postproduction facilities, museums, performance venues and meeting spaces. In addition to our LED and dimmer products, the Company offers a number of other “green” products designed for energy efficiency. We offer the DCE-10/20 Demand Controlled Ventilation system which automatically shuts down exhaust fans when not needed. This closed-loop controller is designed to efficiently control projector exhaust, on demand, by managing airflow to prevent the wasting of HVAC conditioned air. the Company’s IS-20 & IS-20d Power Managers power audio and video systems up and down on a controlled schedule, offering savings on wasteful energy consumption during system idle time. This suite of products supports the Company’s green initiatives with an emphasis on energy savings, reliability and value.

Technical Services

Newly deployed technology across the board requires up to date specification, training, service, and consulting to maintain mission critical equipment. We offer a suite of pre-and-post deployment services from on-site repair and warranty service to proactive remote monitoring of networked equipment.

Project Management, System Design and FF&E — We offer a wide range of technical, design and consulting services such as custom engineering, audio visual integration, systems design, and installation, as well as software solutions. To compliment the aforementioned services the Company provides turnkey Project Management & FF&E services to commercial cinema exhibitors for new construction and remodels, including design, consulting, and procurement of seats, screen systems, lighting, acoustical treatments, screens, projection and sound equipment for upgrades and new professional cinema, screening room, postproduction facilities and ultra-high-end cinema builds.

Our Project Management includes consulting with architects through final fixturing and calibration. Our staff of mechanical and electrical engineers work closely with end users as well as OEM manufacturers and can participate in every phase of the process from conceptual design and development to production on most any scale. The Company personnel have designed, specified and installed thousands of commercial cinemas, postproduction, screening and high-end residential rooms and have been involved in the digital cinema conversion rollouts of clients such as AMC, Cinemark, Cinepolis, Cinemex, Reading, Metropolitan, Hollywood, Regal, Syufy, Harkins, and other smaller circuits.

MiTranslator. Beginning in 2016, the Americans with Disabilities Act (ADA) required theaters to have provisions for seeing- and hearing-impaired patrons. In 2022, we acquired the ADA compliance product line from QSC. We continue to offer accessibility products and are evaluating additional functionality, including multi-language capabilities and use with personal mobile devices. Market acceptance and the timing of any broader commercialization remain uncertain.

In parallel, we are actively gauging market demand between two important factors: (i) affordable ADA-compliant solutions that meet theaters’ baseline compliance requirements, and (ii) enhanced systems that expand access through multi-language capabilities. We continue to produce ADA compliance with multi-language functionality. While U.S. cinemas remain obligated under ADA regulations to provide accessibility devices, we recognize that many cinemas and patrons increasingly prefer the convenience of using their own personal devices. MiTranslator’s development path is to address both needs by offering a mobile application for a user’s personal device.. The Company continues to be the market leader in affordable accessibility options that are ADA compliant.

We believe this product category positions the Company to serve both the immediate compliance needs of cinemas and the broader objective of expanding access to underserved audiences, supporting both exhibitors and patrons as the market evolves.

Direct View LED screens. the Company is the only company that has installed and commissioned the three leading DCI Directview LED cinema systems (“Samsung ONYX Cinema”, “LG DVLED Cinema” & “SONY Crystal LED”). Additionally, the Company utilizing our in-house design fabrication and manufacturing has designed and installed custom DirectView LED Screen frames for two of those installations.

Direct View LED is an alternative conventional cinema projection. Future demand will depend on factors including cost, exhibitor capital spending, performance requirements, customer acceptance and competing technologies. While LED displays have been around for years (e.g., the giant displays in virtually every sports arena), the constant miniaturization of this technology has now made cinema exhibitions possible. Direct View LED screens utilize a technology that is an alternative to the century-old streaming of projector light thrown onto screens; the LED screen is more akin to a giant television screen, and its use renders the projection booth and mezzanine unnecessary reducing construction costs. These emissive displays can deliver improved contrast for a dynamic image range substantially in excess of projection capabilities. Also, LED is ideal for displaying High Dynamic Range (HDR) which we believe is the main video aesthetic enhancement used to boost audience experience in cinemas. Since the LED consumes no power when they are switched off to ‘illuminate’ black, this saves electricity versus the always-on energy of laser projection or xenon lamps. LED panels can also last up to 100,000 hours or 15 years, whereas projectors have a lifespan of barely half that.

We will continue to evaluate our targeted acquisition strategy based on several factors, including profitability, enhancement of the overall customer experience, pricing models, throughput, types of content featured and differences in geographic areas.

Sales and Marketing

We market and sell directly to theater exhibitors, and through certain domestic and international value-added resellers. We have developed ongoing customer relationships with a large portion of the theater owners in the United States and a number of the major theater owners internationally. Our sales and marketing staff principally develop business by maintaining regular personal contact with our established customer relationships, including conducting site visits. In our sales and marketing efforts, we emphasize our value proposition of providing the broadest range of products and services delivered by our experienced technical service teams, which provides a significant resource to our clients in managing the complexities of digital technology in the cinema exhibition industry. Our sales and marketing professionals have extensive experience with our product and service offerings and have long-term relationships throughout the industry.

No customer accounted for more than 10% of the Company’s revenue for the years ended June 30, 2026 and 2025. While we believe our relationships with such customers are stable, most arrangements are made by purchase order and are terminable at will by either party. We could also be adversely affected by such factors as changes in foreign currency rates and weak economic and political conditions in each of the countries in which we sell our products.

Manufacturing and Assembly

The Company has 21,000 square feet of office, warehouse, and in-house manufacturing and assembly space in Southern California, which houses our corporate offices, engineering, distribution, integration, service, and support operations. A global network of service partners, contract manufacturers, and OEM suppliers augments our primary location.

We develop, design, manufacture, and assemble key components of the theatrical systems we offer. Proprietary components are either manufactured in-house or produced pursuant to manufacturing agreements with qualified third-party suppliers. These proprietary products include custom pedestals, projection enclosures, equipment racks, automation systems, specialized lighting, power management, and control equipment. Fabrication of many other parts and subassemblies is subcontracted to a network of domestic and international suppliers.

In addition, the Company manages the global supply chain, component sourcing, contract manufacturing, quality assurance, and logistics for its DCS Cinema loudspeaker product line. Through a network of strategic manufacturing partners, The Company oversees the production of loudspeaker cabinets, transducers, crossover assemblies, and related components, while maintaining responsibility for product design, engineering, quality standards, and final product performance. This model enables the Company to efficiently scale production while maintaining consistent product quality and reliability across global markets.

We believe our significant suppliers and manufacturing partners will continue to provide quality products and components in quantities sufficient to satisfy our requirements. Incoming parts and subassemblies are inspected in accordance with established quality procedures, and finished products are subjected to comprehensive testing and verification prior to shipment.

We believe that our quality control procedures and the quality standards applied to the products we manufacture, distribute, and service have contributed significantly to our reputation for performance and reliability. Inspection of incoming materials and components, supplier quality management, and testing throughout the manufacturing, integration, installation, and service lifecycle are key elements of this program.

Trademarks

We own or otherwise have rights to various trademarks and trade names used in conjunction with the sale of our products. We believe our success will not be dependent upon trademark protection, but rather upon our engineering capabilities and research and production techniques.

Backlog

Our sales backlog at June 30, 2026 was approximately $6.96 million, which represents orders currently planned for shipment during fiscal year 2027. Backlog at June 30, 2025 was $7.52 million. All open orders at June 30, 2025 were fulfilled in the year ended June 30, 2026.

Sales backlog typically represents the fixed contracted revenue undersigned theater system installation or upgrade agreements that we believe will be recognized as revenue upon installation/upgrade and acceptance of the associated theater. The dollar value fluctuates depending on the number of new and upgraded theater system arrangements signed from year to year, which adds to backlog and the installation and acceptance of theater systems and the settlement of contracts, both of which reduce backlog. Sales backlog includes initial fees along with the estimated value of contractual ongoing fees due over the term; however, it excludes amounts allocated to maintenance and extended warranty revenues as well as fees (contingent fees) in excess of contractual ongoing fees that may be received in the future. We believe that the contractual obligations for theater system installations that are listed in the sales backlog are valid and binding commitments.

From time to time, in the normal course of its business, we will have customers who are unable to proceed with a theater system installation or upgrade for a variety of reasons, including the inability to obtain certain consents, approvals or financing. Once the determination is made that the customer will not proceed with installation or upgrade, the agreement with the customer is terminated or amended. If the agreement is terminated, the Company and the customer are released from all their future obligations under the agreement.

Competition

The markets for our products are highly competitive. The primary competitive factors are price, product quality, features and customer support. We compete with a few large, and many small, cinema equipment dealers.

Regulation

We are subject to complex laws, rules and regulations affecting our domestic and international operations relating to, for example, environmental, safety and health requirements; exports and imports; bribery and corruption; tax; data privacy; labor and employment; competition; and intellectual property ownership and infringement. Compliance with these laws, rules and regulations may be onerous and expensive, and if we fail to comply or if we become subject to enforcement activity, our ability to manufacture our products and operate our business could be restricted and we could be subject to fines, penalties or other legal liability. Furthermore, should these laws, rules and regulations be amended or expanded, or new ones enacted, we could incur materially greater compliance costs or restrictions on our ability to manufacture our products and operate our business.

Some of these complex laws, rules and regulations — for example, those related to environmental, safety and health requirements — may particularly affect us in the jurisdictions in which we manufacture products, especially if such laws and regulations require the use of abatement equipment beyond what we currently employ, require the addition or elimination of a material or process to or from our current manufacturing processes, or impose costs, fees or reporting requirements on the direct or indirect use of energy, or of materials or gases used or emitted into the environment, in connection with the manufacture of our products. There can be no assurance that in all instances a substitute for a prohibited raw material or process would be available or be available at reasonable cost.

Employees

We employed 25 full-time equivalent personnel as of June 30, 2026. We are not a party to any collective bargaining agreement.