Vista Group upgrades revenue guidance on box office growth

Vista Group International (NZX & ASX: VGL) reported their interim results for the period ending 30 June 2022, with upgraded revenue guidance for the full year to 31 December 2022.

Total revenue was $62.4m, an improvement of 39% on the first half of 2021, and recurring revenue up 43%.

The global cinema industry is showing a strong recovery post-pandemic, with box office growth and momentum sustained across all major markets.

Vista Group has continued to invest in their SaaS platform, with a monthly cash burn of only $0.1m over the last 12 months, and have signed their first major enterprise cinema circuit with over 300 sites.

The loss for the period was $18.0m, including $13.8m of non-cash impairment charges.