- Vista Group provided a progress update for H2 of 2021 on Thursday.
- The Group witnessed a solid revival in recurring revenue and a good level of receivables collections across the business in the period.
- Vista expects its full-year revenue guidance to be between $95-100 million for the full year.
The global box office has continued to bounce back strongly over H2 of 2021 with nearly all blockbuster releases surpassing the industry’s hopes since July.
Image source: © 2021 Kalkine Media®, Data source- Refinitiv
Spiderman: No Way Home made over US$260 million within the first 3 days of release, reporting the second-highest earning opening weekend of all time in the domestic market of the US.
James Bond: No Time to Die did a business of over US$600 million worldwide and drove the greatest ever box office month in the UK in October. Both Shang-Chi and The Legend of the Ten Rings and Venom: Let there be Carnage earned over US$200 million in the domestic market of the US.
Moreover, higher Omicron cases may lead to many curbs on activities outside home across many countries in the coming months. The Group expects that the curbs are not expected to result in any extensive venue shutdowns but can lead to delays in film release schedules next year.
Vista’s trading performance
The Group witnessed a solid revival in recurring revenue and a decent degree of receivables collections in H2 of 2021.
The Group’s Vista Cloud delivery remains on schedule and the first customer execution will happen early next year. The first production system of Vista Cloud has been created in the APAC zone and is likely to go on air in late January.
Although the recent challenge of a stronger New Zealand currency has subsided, cost pressures related to attracting and maintaining talent are projected to persist in the medium term.
On 22 December, at the time of writing, VGL was trading flat at $2.24.
Vista Group affirms that it will meet its full-year revenue guidance of $95-100 million for the full year and will be EBITDA and cash flow positive in the second half of the year.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)