Vista Group International Ltd · NZX:VGL
Vista Group International — H1 2026 Earnings Presentation
36 slides from Vista Group International's earnings presentation, Aug 3, 2026
Slide 1: 2026 Half Year Results
2026 Half Year Results 3 August 2026
Slide 2: Important notice
Important notice This presentation has been prepared by Vista Group International Limited and its related companies (collectively referred to as Vista Group). This notice applies to this presentation and the verbal or written comments of any persons presenting it. Information in this presentation: •
Slide 3: Agenda
Agenda 01 Highlights Stuart Dickinson | Chief Executive Officer 02 Financial Results Matt Thompson | Chief Financial Officer 03 Outlook Stuart Dickinson | Chief Executive Officer 04 Questions 3
Slide 4: Highlights
Highlights 4
Slide 5: Key takeaways
Key takeaways Contracted Enterprise Market Share increases from 46% to 48% Cinemex in Mexico and United States returns to Vista Group with 312 net new sites on a combination of Vista Classic and Data Empowerment Marquee clients sign to move their circuits to Vista Cloud Including Cinepolis Mexico wh
Slide 6: A strong financial result
A strong financial result All key revenue metrics expanding, SaaS Revenues up 38%, and operating leverage expands REVENUE RESULTS: 1H26 $86.3m Total Revenue $86.3m 12% 1H25 $77.0m • Continued Vista Cloud migrations and 1H24 $69.6m SaaS adoption driving higher-quality recurring revenues 1H26 $80.1m •
Slide 7: Significant recent signings
Significant recent signings Substantial client demand underpins our cloud acceleration strategy • Returning client moving to Vista Classic • Vista Group’s largest circuit to Operational + Data Empowerment throughout 2026 Excellence throughout 2026 312 504 • Increases Vista Group’s Contracted • Follo
Slide 8: Contracted backlog provides strong forward visibility
Contracted backlog provides strong forward visibility CONTRACTED ENTERPRISE MARKET SHARE: 48% (+2%) Growing Operational Excellence adoption and market share gains have strengthened revenue visibility through FY27 • Market leadership strengthened +2% Vista Digital Operational through the 312 site Cin
Slide 9: Vista Group’s intelligence layer is woven throughout the platform
Vista Group’s intelligence layer is woven throughout the platform Automation, data and embedded AI are driving efficiency, effectiveness and exceptional guest experiences • AI is embedded across core cinema and film workflows, • Leveraging proprietary cinema data across ticketing, not standalone fea
Slide 10: AI strengthens Vista’s economics and strategic position
AI strengthens Vista’s economics and strategic position Enhancing long-term margins, growth and defensibility Raises switching Supports margin Increases revenue Amplifies data Reinforces Positions Vista to costs expansion opportunity advantage infrastructure benefit from AI via deeper workflow throu
Slide 11: Vista Payments
Vista Payments A growth lever which has the potential to exceed our base case assumptions, with an estimated $2m ARR already contracted Payment offerings Strong progress Value added client Meaningful financial launched in 1H26 to 30 June 2026 outcomes outcomes Now available and 11 clients already li
Slide 12: Financial Results
Financial Results 12
Slide 13: Income statement
Income statement A strong revenue performance with improved operating leverage HIGH LEVEL SUMMARY: • SaaS Revenue of $43.5m up 38% NZ$m 1H26 1H25 % Change Total revenue 86.3 77.0 +12% • Recurring Revenue of $80.1m up 14% Total segmental expenditure (59.5) (53.1) +12% • SaaS Revenue of $43.5m up 38%
Slide 14: Detailed profit & loss
SEASONALITY: Detailed profit & loss Revenue and EBITDA margins expand, and seasonality is evident • Revenue remains second-half weighted: reflecting box office NZ$m (Six months – Unaudited) 1H24 2H24 1H25 2H25 1H26 seasonality and ongoing cloud migrations SaaS revenue 25.4 30.3 31.6 38.1 43.5 Total
Slide 15: Reporting segments
Reporting segments Revenue compounds as scale builds CINEMA OBSERVATIONS: Cinema Segment – NZ$m (Unaudited) 1H24 2H24 1H25 2H25 1H26 SaaS revenue 19.5 24.1 25.1 31.2 36.4 • SaaS Revenue up 45% on 1H25 driven Non-SaaS revenue 31.4 33.1 31.3 30.0 29.3 by 37% of client sites now on the Vista Recurring
Slide 16: Financial position
Financial position We have sufficient resources available to accelerate our strategy NZ$m (Unaudited) Jun 2026 Dec 2025 % Change • Net Debt Position of $5.8m: Cash 43.9 20.0 tracking in line with expectations Borrowings (49.7) (19.3) Net (debt) / cash position (5.8) 0.7 • Strong banking partner supp
Slide 17: Cash flow statement
Cash flow statement Deployment of cash in line with expectations, 2H26 expected to be FCF neutral • $30m debt drawn: held on deposit to NZ$m (Unaudited) 1H26 1H25 % Change maintain liquidity and financial flexibility Receipts from clients 84.6 81.9 +3% amid ongoing macroeconomic Payments to supplier
Slide 18: Adjusted Free Cash Flow Bridge
Adjusted Free Cash Flow Bridge 1H26 cash flow reflects operating leverage and an acceleration to meet client demand Adjusted FCF NZ$m (Unaudited) 1H26 1H25 Movement FCF (6.8) 1.0 Working capital benefit (0.1) (6.8) FCF BRIDGE OBSERVATIONS: Adjusted FCF for working capital benefit (6.9) (5.8) (1.1) •
Slide 19: Underlying Free Cash Flows
Underlying Free Cash Flows Cash is tracking to plan and reinvested into enduring growth First half investment delivers immediate First half investment meets client demand with UNDERLYING FCF OBSERVATIONS: second half Underlying FCF benefits minimal impact on FY26 Underlying FCF • Underlying FCF remo
Slide 20: 2030 exit rate aspirations
2030 exit rate aspirations We reaffirm that in just under five years we expect to approximately double ARR and EBITDA Margin, and quadruple Underlying FCF ARR EBITDA Margin Underlying FCF 35.0% 75.0 315.0 +93% +103% +299% % of revenue NZ$m NZ$m 163.0 17.2% 18.8 2025 2030 2025 2030 2025 2030 Exit Rat
Slide 21: Outlook
Outlook 21
Slide 22: The cinema industry continues to grow
The cinema industry continues to grow With the Domestic Box Office being driven by higher admissions, while investment returns to the film industry 1H26 Domestic Box Office grew Domestic Box Office growth is being Investment has returned to the 15%, and closing to within 17% driven by 12% year on ye
Slide 23: Upcoming movie slate
Upcoming movie slate A blockbuster-stacked second half of 2026, nine wide releases, six are franchise tentpoles whose prior instalments earned a combined US$3.1b at the Domestic Box Office 1 Jul 2026 8 Jul 2026 17 Jul 2026 — — — Minions & Monsters Moana The Odyssey (prev. Rise of Gru: 2022 (prev. Mo
Slide 24: Outlook
Outlook 2026 revenue guidance has been upgraded to $179m-184m 2026 ASSUMPTIONS: FY26 FY30 Exit Rate Guidance and Aspirations Aspirations • Domestic Box Office: US$9.75b $179m-184m (unchanged) Revenue Originally $176-182m Upgraded • USD currency: assumed at US$0.59 EBITDA margin 18-20% 33-37% creatin
Slide 25: Key takeaways
Key takeaways FY26 objectives already being delivered, with Underlying FCF progression validating the acceleration plan Contracted Enterprise Market Share increases from 46% to 48% Marquee clients sign to move their circuits to Vista Cloud First half progress enhances visibility towards 2030 aspirat
Slide 26: Questions
Questions 26
Slide 27: Appendix
Appendix 27
Slide 28: Vista Group: The global leader in providing tech and data solutions to the film industry
Vista Group: The global leader in providing tech and data solutions to the film industry 28
Slide 29: Vista Group provides the mission-critical commerce and operations infrastructure for cinema
Vista Group provides the mission-critical commerce and operations infrastructure for cinema and film distribution. Our deeply embedded software and payments workflows power ticketing, scheduling, concessions, and guest experience at scale across the world’s leading exhibitors and distributors. 29
Slide 30: Our AI-enhanced platform
Our AI-enhanced platform Continuously improving client revenue performance, forecasting accuracy and operational efficiency Increase admit Optimise revenue Reduction in Protecting spend and drive performance cost to serve our clients attendance Moviegoer Accelerated Business Operational Security & e
Slide 31: Free Cash Flow and Underlying FCF Bridge
Free Cash Flow and Underlying FCF Bridge Workings that support the free cash flow metrics on slide 19 2H26 NZ$m (Unaudited) 1H23 2H23 1H24 2H24 1H25 2H25 1H26 2030 EXIT RATE FCF BRIDGE: Implied Net movement in cash held (9.2) (8.0) (8.7) 1.4 0.8 (2.0) 23.6 Implied 2H26 FCF assumptions: 2030 EXIT RAT
Slide 32: Adjusted Free Cash Flow Bridge
Adjusted Free Cash Flow Bridge Workings that support the adjusted free cash flow metrics on slide 18 Adjusted FCF NZ$m (Unaudited) 1H26 1H25 Movement FCF (6.8) 1.0 Working capital benefit (0.1) (6.8) Adjusted FCF for working capital benefit (6.9) (5.8) (1.1) Year on year movement: NZ$m (Unaudited) 1
Slide 33: 2030 Exit Rate Aspirations
2030 Exit Rate Aspirations Unchanged, with operational leverage expected to drive EBITDA margin to 33-37% MARGIN OBSERVATIONS: EBITDA (ex FX) 14% Medium-term cost drivers • Operational leverage progress not EBITDA 35% expected to be linear due to large client CTS – ~23% labour scales onboarding with
Slide 34: Domestic Box Office trading update
Domestic Box Office trading update US box office forecasts continue to strengthen, supporting Vista Group's FY26 guidance assumption of US$9.75b, with year-to-date trading up 14.8% at 30 June 2026 +14.8% US$9.75b US$9.8b US$10.3b 2026 US-based analyst average 2027 US-based analyst average Domestic B
Slide 35: First Half Domestic Box Office up 15% on 1H25
• The domestic box office of US$4.7b is First Half Domestic Box Office Up +15% on 1H25, providing confidence and an underpinning factor that up 15% on 1H25: with full year forecast contributes to an upgrade to full year revenue guidance of US$9.75b on track (key FY26 revenue guidance assumption) • S
Slide 36: Glossary
Glossary Vista Cloud Capabilities: Defined Terms: Operational Excellence – The final Vista Cloud capability, marking the completion of an Exceptional Items – The cash inflow or outflow relating to transactions classified as exhibitor’s cloud journey. “other gains and losses” (see section 2.3 of the
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