Vista Group reported an all-time record for its revenue. Photo / 123rf
Vista Group reported an all-time record for its revenue. Photo / 123rf
Big box-office hits such as Moana 2 and Wicked: Part 1 helped Vista Group to deliver its highest revenue yet while narrowing its full-year loss after tax.
In the year to December 31, 2024, Vista reported total revenue of $150 million, an increase of 5% compared with 2023.
Recurring revenue also grew 9% to $134.6m, with SaaS (software as a service) revenue growing particularly strongly, up 21% on 2023 to $55.7m.
Vista’s earnings before interest, tax, depreciation and amortisation (ebitda) rose 62% or $8.3m compared with 2023, reaching $21.6m.
While the company did report a net loss of $600,000, it achieved a positive free cash flow for the second half of 2024, ahead of the previously guided fourth quarter. That was an improvement on its FY 2023 loss of $13.6m.
Vista Group CEO Stuart Dickinson says its cloud strategy remains a key focus. Photo / Supplied
Vista Group chief executive Stuart Dickinson said he was incredibly proud of what the Vista team had achieved in 2024.
“We maintained strong momentum, with existing and new clients signing to our cloud solutions and an acceleration of clients onboarding to Vista Cloud. Scaling the Cloud onboarding process for our cinema clients continues to be a key focus,” Dickinson said.
“A culmination of the strong demand for Vista Cloud, along with significant improvements in our financial results, has given us the confidence to stretch our aspirations further, with the Rule of 40 quickly coming into focus and an improvement in our anticipated long-term ebitda margins.”
Vista’s largest reporting segment, Cinema, reported total revenue of $119.8m, up 5% on 2023, with its global market share of enterprise clients remaining at 46%.
The segment includes software solutions for the cinema industry, primarily Vista Cloud, Movio EQ, Vista Classic (Vista Group’s legacy on-premises solution) and Veezi.
The company added 17 clients to Vista Cloud over the year, while Movio sent a record 484 million emails in December 2024.
In Vista’s new Film segment, it reported total revenue of $30.2m, also up 5% on 2023, with a segment contribution margin of $12m, 24% higher than in 2023.
The segment includes software solutions for film studios and distributors, including Maccs, Numero, Movio Research, Powster and Flicks.
Powster’s creative studio business, which was directly impacted by the content delays caused by the writers and actors strikes, did see its revenue decline by 3% compared with 2023, but Vista expects this drop to be temporary.
The film industry’s biggest hits of 2024, Moana 2 set a record opening for a Walt Disney Animation movie domestically and internationally, Deadpool & Wolverine became the highest R-rated film opening weekend of all time, and Inside Out 2 was briefly the highest-grossing animated film of all time.
The year ahead has several key franchises releasing films set to anchor the 2025 slate, including Mission: Impossible, Jurassic World, Avatar, Wicked and Superman.
The company has issued guidance for 2025, expecting total revenue of $167m-$173m, and to maintain an ebitda margin of 16-18%, with long-term ebitda margin upgraded to 33-37% (it previously was 25-30%+).
“The film slate and box-office expectations for 2025 continue to be strong and I am excited about the opportunities that continue to lie ahead for our business and the film industry,” Dickinson added.
CFO departure
Alongside the company’s results, chief financial officer Matt Cawte announced his resignation. He is set to be replaced by Matt Thompson, Vista Group’s global head of finance.
“Matt Cawte has made a significant contribution over his almost six years with Vista Group, including playing an instrumental role in successfully guiding Vista Group through the challenges presented by the pandemic, pursuing our cloud strategy and steering the financial management of the company,” Dickinson said.
“On behalf of Vista Group, I would like to thank him and wish him all the very best for his future endeavours.”
Tom Raynel is a multimedia business journalist for the Herald, covering small business and retail.
