Company: MITQ
Filing Date: 2025-09-29
Form Type: 10-K/A
Source: 0001437749-25-029978
Chunk: 42

Company: MOVING iMAGE TECHNOLOGIES INC.
Filing Date: 2025-09-29
Form: 10-K/A
Chunk 42
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------:|:----|-----:|------:|
| (in 000’s),         |       |     |      |       |
| 2025                |       |     | 2024 |       |
| $                   | 4,573 |     |    $ | 4,683 |

Along with the revenue decline for the year ended June 30, 2025, gross profit dollars decreased 2.3% to $4.573 million or by $0.110 million for the year ended June 30, 2025 from $4.683 million for the prior fiscal year. As a percentage of total revenues, gross margin increased to 25.2% for the year ended June 30, 2025 from 23.3% for the prior year. Compared to the prior year, the increase in gross margin as a percentage of revenues was driven primarily by product mix, as lower margin seat revenues made up a larger percentage of total revenues in the year ended June 30, 2024.

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Research and Development

| Year Ended June 30, |     |     |      |     |
|:--------------------|----:|:----|-----:|----:|
| (in 000’s)          |     |     |      |     |
| 2025                |     |     | 2024 |     |
| $                   | 203 |     |    $ | 277 |

The $74,000 decrease in research and development expense was largely due to decreased compensation expense related to headcount reduction compared to the year ended June 30, 2024.

Selling, General and Administrative Expense

| Year Ended June 30, |       |     |      |       |
|:--------------------|------:|:----|-----:|------:|
| (in 000’s)          |       |     |      |       |
| 2025                |       |     | 2024 |       |
| $                   | 5,456 |     |    $ | 5,963 |

2025 Selling, General and Administrative expense decreased by $507,000 or 8% compared to 2024 primarily due to higherfacility rent offset by lower compensation costsrelated to headcount reduction, lower marketing expense and lower public company compliance costs in2025.

Interest and Other (Expense)/Income

| Year Ended June 30, |     |     |      |     |
|: