Vista Group International Limited has reported record financial results for 2025, driven by strong SaaS growth and accelerated client onboarding to its Vista Cloud Platform. The company also highlights its strategic AI integration and the launch of Vista Payments as key growth levers.
- Record total revenue of NZ$164.3 million, up 10%
- SaaS revenue surges 25%, with ARR growing 12% to NZ$163 million
- EBITDA rises 31% to NZ$28.2 million, margin expands to 17.2%
- 35% of enterprise client sites live on Vista Cloud Platform
- Vista Payments launched with four pilot clients, first transactions in January 2026
Strong Financial Momentum
Vista Group International Limited (NZX & ASX: VGL) has delivered a standout financial performance for the year ended 31 December 2025, posting record revenue of NZ$164.3 million, a 10% increase on the previous year. This growth was underpinned by a 25% surge in Software as a Service (SaaS) revenue to NZ$69.7 million and a 12% rise in Annual Recurring Revenue (ARR) to NZ$163 million.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 31% to NZ$28.2 million, with margins expanding to 17.2%. Notably, Vista Group returned to profitability with a net profit after tax of NZ$2.6 million, reversing prior losses, while operating cash flow surged 65% to NZ$27.8 million despite increased investment in delivery and technology capabilities.
Accelerated Client Onboarding and Market Penetration
Central to Vista Group’s growth story is the accelerated adoption of its Vista Cloud Platform. By the end of 2025, 1,557 enterprise client sites, representing 35% of total enterprise sites, were live on the platform, with 16% having completed their transition to the Operational Excellence capability. Major cinema groups such as ODEON Cinemas Group (312 sites), Kinepolis (109 sites), and Village Cinemas Australia (24 sites) have committed to Vista Cloud, underscoring the platform’s growing industry footprint.
CEO Stuart Dickinson emphasised the company’s focus on scaling delivery capacity to meet strong client demand, noting that several marquee clients are in advanced negotiations to transition to Vista Cloud. The company plans to further accelerate onboarding throughout 2026, aiming to expand its market share and deepen client engagement.
Strategic Expansion with Vista Payments and AI Integration
Beyond core platform growth, Vista Group has launched Vista Payments, an integrated payments solution designed to streamline transaction processing for exhibitors. The solution went live with four pilot clients in early 2026, with the first transactions processed in January. Early market response has exceeded expectations, positioning Vista Payments as a promising new revenue stream.
Vista Group is also advancing its AI capabilities, embedding artificial intelligence across its Film solutions and Vista Cloud Platform. Leveraging proprietary, industry-specific data and workflows, the company is delivering AI-powered features that enhance operational efficiency, forecasting accuracy, and personalised guest experiences. This strategic integration of AI is viewed as a key competitive advantage as the cinema industry increasingly embraces AI-enabled technologies.
Outlook and Market Context
Looking ahead, Vista Group has provided 2026 guidance projecting total revenue between NZ$176 million and NZ$182 million, reflecting 10–13% growth on a constant currency basis. EBITDA margins are expected to improve further, targeting 18–20%. This outlook assumes stable box office performance, foreign exchange rates, and timely client transitions, with no material adverse macroeconomic impacts.
The broader film industry remains robust, with the worldwide box office up 12% in 2025 and a strong slate of franchise films expected to drive further growth in 2026. Vista Group’s embedded position within this ecosystem, combined with its technology leadership and AI integration, positions it well to capitalise on these industry tailwinds.
Governance and Sustainability
Vista Group continues to maintain a strong governance framework, with a focus on shareholder value, operational excellence, and sustainability. The company has set ambitious environmental targets, including a 42% reduction in Scope 2 greenhouse gas emissions by 2030 from a 2022 base year, and actively reports on its carbon footprint. These commitments align with Vista Group’s broader strategy to operate responsibly while driving innovation and growth.
Bottom Line?
As Vista Group accelerates cloud adoption and AI integration, investors will be watching closely to see how these strategic initiatives translate into sustained growth and profitability in 2026 and beyond.
Questions in the middle?
- How quickly will Vista Group be able to scale Vista Payments beyond pilot clients?
- What impact will AI-driven features have on long-term client retention and revenue growth?
- How sensitive is Vista Group’s 2026 guidance to fluctuations in box office performance and foreign exchange rates?