Vista Group Reports Record Revenue as Cloud Migration Expands

Highlights:

• Record Revenue Growth: Vista Group (NZX: VGL) reported a full-year revenue of $150 million, with SaaS revenue increasing by 21% to $55.7 million.
• Improved Financials: The company narrowed its annual loss to $600,000 and achieved positive free cash flow ahead of schedule.
• Cloud Expansion Strategy: Vista Group continues to migrate clients to the cloud, enhancing its software offerings and driving long-term growth.

Strong Financial Performance in 2024

Vista Group (NZX: VGL, ASX: VGL) is leveraging cloud migration to enhance its cinema software solutions, resulting in strong financial growth. The company reported a record full-year revenue of $150 million for 2024, marking a significant milestone. At the time of writing, its software-as-a-service (SaaS) revenue surged by 21% to $55.7 million, reflecting increased adoption of cloud-based offerings.

Improved Profitability and Cash Flow

The dual-listed tech firm significantly reduced its annual loss, narrowing it to $600,000 for the year ending December 31, 2024. Additionally, Vista Group met its positive free cash flow target ahead of schedule in the second half of the year, reinforcing its financial stability.

Focus on Cloud Transformation

Chief Executive Stuart Dickinson emphasized that migrating more clients to the cloud allows Vista to enhance its product offerings and drive long-term growth. The company remains committed to innovation, ensuring its software remains at the forefront of the global cinema industry.

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