Vista Group International (VGL) Investor presentation summary

Trading and financial performance

• Global enterprise market share increased to approximately 48% following major client signings, including Cinemex and Cineworld, representing a 2.5% market share gain in 2026.

• Domestic box office trading was up 11.4% year-to-date through May 2026, with FY26 guidance of US$9.75b aligning with analyst consensus.

• Revenue guidance for FY26 is NZ$176m–182m, reflecting 7–11% growth on 2025, with EBITDA margin expected to rise to 18–20%.

• ARR is projected to reach $315m+ by 2030, with underlying free cash flow targeted to quadruple from $18.8m in 2025 to ~$75m by 2030.

• No significant financial impact from geopolitical risks or foreign exchange fluctuations has been observed to date.

Strategic initiatives and growth drivers

• Cloud migration is accelerating, with 27% of enterprise client sites expected to be fully cloud-migrated by end of FY26 and a target of 2,000 sites on Vista Cloud.

• AI-enhanced platform capabilities are improving client revenue, forecasting, and operational efficiency.

• Vista Payments, powered by Adyen, is exceeding early market expectations and could contribute $15m ARR.

• Expansion opportunities include family entertainment centers, film distribution, increased market share, and new product development.

• Operational leverage is expected to double EBITDA margin to 33–37% by 2030, with significant cost efficiencies as cloud adoption scales.

Market and industry outlook

• The upcoming movie slate for the remainder of 2026 is strong, with 12 wide releases, including major franchises whose previous installments grossed a combined US$3.9b.

• Vista Group powers about 48% of the global enterprise cinema market, serving clients in over 80 countries, including 4 of the top 5 global cinema chains.

• The company’s platform supports the full cinema value chain, from film studios to moviegoers, with integrated solutions for operations, marketing, and analytics.

• Management expects continued revenue growth and margin expansion, driven by cloud onboarding, AI integration, and scaling new growth levers.

• Guidance assumes no major adverse macroeconomic or market impacts and is underpinned by strong client demand and delivery momentum.