Vista Group International Limited Analysis

Overview

Vista Group is the global leader in software and technology solutions to the international film industry.

Vista Group's cinema solutions, including Vista, Veezi, Movio Cinema EQ and MovieXchange, are used by over 50%+ of enterprise cinema circuits globally outside of India and China. Vista Group's studio solutions, including Maccs, Numero, Movio Media, MX and Powster, are used by all of the major studios.

Vista Group's headquarters are in Auckland, New Zealand, with offices in Sydney, Cape Town, London, Amsterdam, Beijing, Shanghai, Kuala Lumpur, Los Angeles and Mexico City.

Performance

The following information was extracted from Vista Group International Limited's full year results, released 28 February 2025:

Vista Group International Limited (NZX & ASX: VGL) reported its full year results for the year ending 31 December 2024 today. The result demonstrates continued momentum, delivering all-time record revenue, positive free cash flow over the second half of 2024, positive profit before tax, an acceleration in clients transitioning to its cloud solutions, and an increase in its long-term EBITDA1 margin aspirations.

Financial overview

• Free Cash Flow2 positive for 2H24, ahead of the 4Q24 previously guided
• Total Revenue of $150.0m an all-time high for Vista Group (up 5% on 2023), with Recurring Revenue3 of $134.6m (up 9% on 2023) and SaaS Revenue3 of $55.7m (up 21% on 2023)
• ARR4 of $145.6m (up 15% on 2023) • EBITDA1 of $21.6m (up 62%, or $8.3m on 2023)
• Operating cashflow of $16.8m (up 87% on 2023, or 26% after adjusting for exceptional items5)
• Net profit before tax of $1.8m.

Group results

Vista Group’s Recurring Revenue3 up 9% and SaaS Revenue3 up 21% contributes to an all-time total revenue high of $150.0m. Profitability continues to improve, with EBITDA1 of $21.6m up 62% or $8.3m on 2023, and a return to a profitable net result before tax. The new business structure continues to deliver significant operating leverage improvement, with EBITDA1 margin for 2024 of 15.5% (excluding foreign currency losses) an increase of 6% on 2023. Shareholders also benefited from a strong share price performance, up 88% over the financial year, the third highest of all NZX50 companies.9