• Strong revenue growth, expanding margins, and continued momentum in client signings
• Accelerating adoption of technology, AI tooling, and expanding delivery capacity
• Embedded Payments pilot expected to launch with select clients in 2H25

Vista Group International Limited (NZX & ASX: VGL) announced its half year results for the six months ending 30 June 2025, showcasing strong revenue growth, expanding margins, and continued momentum in client signings. The results reflect Vista Group's strategic focus on scaling Vista Cloud as the company expands its efforts to accelerate progress across its growth adjacencies. Vista Group reported improved operating leverage and EBITDA margins, driven by sustained and growing demand for Vista Cloud. The company also achieved its second consecutive half of being Free Cash Flow positive, and is significantly increasing its resourcing in technology and delivery capabilities to meet client needs and fast-track its 100% Platform ambitions. The half year saw strong signing momentum with multiple clients committing to Vista Cloud, including Odeon Cinemas Group and Village Cinemas Australia. In addition to core platform growth, Vista Group accelerated progress across its strategic adjacencies, with the Embedded Payments pilot expected to launch with select clients in 2H25.

Vista Group's 2025 guidance includes revenue of $167.0m and EBITDA margin of 16-18%. The company's 100% Platform aspirations have been upgraded to $315.0m ARR and 33-37% EBITDA margin. ARR of $175.0m+ is now expected in 2026.

Vista Group is well-positioned to capitalise on a robust film slate and positive box office outlook in 2H25. The company is making good progress towards 1,600+ sites on the Vista Cloud Platform by year's end, though a significant proportion of sites from one key client could be delayed to 2026.