Highlights

  • Vista Group lifted FY26 Revenue guidance to NZ$179 million to NZ$184 million, up from NZ$176 million to NZ$182 million.
  • SaaS revenue jumped 38% to NZ$43.5 million in 1H26, while total revenue rose 12% to NZ$86.3 million.
  • Contracted enterprise Market Share reached 48%, helped by Cinemex returning 312 sites from a competing solution.
  • Management aspires to exit 2030 with ARR above NZ$315 million and an EBITDA Margin of 33% to 37%.

Vista Group International (ASX:VGL) used an NZX technology investor day on 8 October 2026 to set out long-range aspirations for its cinema software platform, building on a first half in which cloud subscription revenue grew strongly and full-year revenue guidance was raised. The company aims to nearly double annual Recurring Revenue by 2030 as cinema operators move from on-premise systems to Vista Cloud.

The Auckland-based group provides technology to the international film industry, spanning cinema management, loyalty and moviegoer engagement, film distribution, box office reporting and creative studio work. Its brands include Vista, Veezi, Movio, Numero, Maccs, Flicks and Powster, and it serves clients in more than 80 countries.

SaaS Momentum Drives the First Half

In results released on 3 August 2026 for the six months to 30 June, Vista reported revenue of NZ$86.3 million, up 12%. Recurring revenue rose 14% to NZ$80.1 million and SaaS revenue climbed 38% to NZ$43.5 million, while ARR reached NZ$170.1 million, up 17% on a year earlier.

EBITDA increased 24% to NZ$12.4 million, and the margin adjusted for currency moved up to 13.8% from 11.9%. The company raised its FY26 revenue range, kept its EBITDA margin guidance of 18% to 20%, and expects free Cash Flow to be neutral in 2H26.

Client Wins Expand Market Share

Contracted enterprise market share rose two points to 48%, after Cinemex brought back 312 sites from a competing solution. Other key wins included Cinépolis Mexico for 504 sites, Cineworld UK for 88 sites and Cineplexx Europe for 59 sites, with the Cinépolis commitment described as substantially de-risking the FY26 Operational Excellence target.

Contracted enterprise sites rose by a net 293 during the half to 4,919, with 4,485 sites live at 30 June. Some 44% of sites were contracted to the Vista Cloud platform and 37% to Operational Excellence. Vista Payments, launched in late 2025, had 11 clients live and estimated contracted ARR above NZ$2 million.

Outlook: 2030 Aspirations and Near-Term Assumptions

FY26 guidance assumes a domestic box office of US$9.75 billion and an Exchange Rate of US$0.59 per New Zealand dollar. Management expects more than a quarter of contracted enterprise sites to be fully cloud-enabled by the end of FY26, with Operational Excellence implementation schedules extending into FY27 and FY28.

The 2030 exit-rate aspirations include ARR above NZ$315 million, compared with NZ$163 million in FY25, underlying free cash flow of NZ$75.0 million and a Vista Payments ARR of NZ$15 million. The company also targets revenue growth at a compound annual rate of 13%. These are aspirations rather than guidance and remain subject to execution and market risks.

Vista has also appointed Rob Hamilton, a former SkyCity Entertainment Group chief financial officer, as an independent director from 9 November 2026. He is set to succeed James Miller as Audit and Risk Committee chair, with Mr Miller retiring after the 2026 annual results. Shares were priced at A$2.235 on 2 November 2026, down 1.97% on the day and 2.83% lower over 12 months.