VGL reports record results as client onboarding accelerates

Vista Group International Limited (NZX & ASX: VGL) today announced its full-year results for the year ending 31 December 2025, highlighting strong operational and financial performance as the company accelerates delivery of its strategy in response to sustained client demand. The year saw all-time record revenue, a 25% increase in SaaS revenue, continued ARR growth, margin expansion, and a return to profit after tax. Vista Group has secured several major commitments to Vista Cloud, which included ODEON Cinemas Group (312 sites), Kinepolis (109 sites), and Village Cinemas Australia (24 sites) – all of whom will be transitioning to Vista Cloud’s Operational Excellence capability. In addition to core platform growth, Vista Group continued building out its strategic adjacencies. Vista Payments, the company’s integrated payments solution processed its first transaction in January 2026, with four pilot clients signed to the solution. Vista Group’s mission‑critical platform and embedded AI position it strongly for an AI‑enabled future Vista Group continues to advance AI‑powered functionality across the Film solutions and Vista Cloud Platform, building on AI already embedded in its products and leveraging the company’s deep structural advantages. Vista Cloud’s mission‑critical, client‑embedded workflows (spanning the likes of ticketing, scheduling, concessions and payments) operate at the core of the world’s largest cinema circuits, creating trusted, high‑integrity data that generic systems cannot access or replicate. Applying AI directly to these operational workflows is delivering greater efficiency, effectiveness, and more personalised guest experiences for our clients. These elements are underpinned by Vista Group’s global market scale, trusted industry role, extensive integration ecosystem, regulatory expertise, and industry‑specific datasets, which together provide a durable foundation for delivering AI at scale. AI adoption is also embedded broadly within Vista Group, accelerating delivery and supporting the Group’s long‑term strategy. Collectively, these initiatives strengthen Vista Group’s competitive position as the industry enters an increasingly AI‑enabled era. Financial overview To underscore Vista Group’s strong financial performance, key metrics for the 2025 financial year include: • Total revenue of $164.3m (up 10% on FY24), with Recurring Revenue of $147.2m (up 9% on FY24) and SaaS Revenue of $69.7m (up 25% on FY24) • ARR of $163.0m (up 12% on 31 December 2024) • EBITDA of $28.2m (up 31% on FY24), with EBITDA margin of 17.2% up from 14.4% at FY24 • A return to profit after tax of $2.6m • Operating cashflow of $27.8m (up 65% on FY24). Outlook • 2026 total revenue guidance of $176m-$182m, reflecting 10-13% growth on a constant currency basis • 2026 EBITDA margin of 18-20%. Operational overview • Demonstrable cloud momentum with 1,557 sites live on the Vista Cloud Platform, representing 35% of total Enterprise Client sites, or 16% now completed their journey to Operational Excellence • Growth levers are being added to Vista Group with Vista Payments now operational with four pilot clients • ~US$3.3b of Annualised GTV processed through the Vista Cloud Platform in 4Q25. Industry overview • The film industry continues to grow, with four movies grossing greater than US$1b, and the Worldwide Box Office being up 12% on FY24 • Industry forecasting analysts project a 2026 Domestic Box Office of approximately US$9.9b, up ~14% on 2025, supported by a movie slate which includes seven movie franchises that previously grossed greater than US$1b worldwide. Please refer to the following attachments for full details of the results: • 2025 Annual Report • 2025 Greenhouse Gas Emissions Inventory Report • 2025 Full Year Result Investor Presentation • 2025 Full Year Result Media Announcement • 2025 Full Year NZX Results Announcement. To assist investors in understanding Vista Group’s historical performance, an excel data sheet with values to 1 January 2020 has been included in Vista Group’s Investor Centre: vistagroup.co.nz/investor-centre. Also included in this data sheet are other previously reported financial metrics and site count information. Guidance Vista Group’s 2026 guidance is based on a number of assumptions, including box office performance, foreign exchange, and the timing of key client signings and transitions. Guidance assumes there are no material adverse macro-economic and/or market condition impacts, and there are no major accounting adjustments, other unforeseen circumstances, or future acquisitions or divestments.   Glossary of terms Annualised GTV – Management’s estimate of the annualised GTV processed through Operational Excellence, Digital Enablement and Moviegoer Engagement in 4Q25 using data from Vista Group’s Horizon data warehouse solution. To normalise for box office seasonality, the fourth quarter GTV is assumed to be 25.3% of FY25 GTV, which is based on a proportion of the FY25 Domestic Box Office (4Q25 and FY25 Actuals: US$2.2b and US$8.7b, respectively per Box Office Mojo). ARR – Annualised Recurring Revenue, which is a non-GAAP measure calculated as trailing 3 month Recurring Revenue multiplied by four. Contribution Margin – a non-GAAP measure which is calculated as total revenue, less cost to serve, sales & marketing costs, and R&D costs. Recurring Revenue, Non-Recurring Revenue, SaaS Revenue, Contribution Margin, EBITDA, and Free Cash Flow – each of these non-GAAP financial measures are defined in section 1.2 of the 2025 Financial Statements. Enterprise Client – Cinema Exhibition Companies with 20+ screens. Enterprise client sites are recognised from the date that the production environment is available for use. Enterprise Market Share – Management’s estimate of the Cinema segment percentage of the world market for Cinema Exhibition Companies with 20+ screens, excluding Russia, India and China at 31 December 2025. Operational Excellence – The final Vista Cloud capability, marking the completion of an exhibitor’s cloud journey. Digital Solutions – Vista Cloud capabilities representing digital solutions, including sales channels and marketing. These capabilities are marketed to clients as Digital Enablement and Moviegoer Engagement. Vista Cloud Platform – An aggregation of all clients using a Vista Cloud capability, including Digital Enablement, Moviegoer Engagement or Operational Excellence. Box Office Sources – Box Office Mojo and Gower Street Analytics. ENDS For further information please contact: Stuart Dickinson Chief Executive Officer Vista Group International Limited Contact: +64 9 984 4570 Matt Thompson Chief Financial Officer Vista Group International Limited Contact: +64 9 984 4570 About Vista Group Vista Group International Ltd (Vista Group) is a public company, founded in New Zealand in 1996 and listed on both the New Zealand and Australian stock exchanges in 2014 (NZX & ASX: VGL). Vista Group is a global leader in providing tech solutions to the international film industry. With brands including Vista, Veezi, Movio, Numero, Maccs, Flicks and Powster, Vista Group’s expertise covers cinema management software; loyalty, moviegoer engagement and marketing; film distribution software; box office reporting; creative studio solutions; and the Flicks movie, cinema and streaming website and app.