Q2 Earnings Nothing ground breaking, but for the first time I can say that I'm reassured.
As expected, tickets revenues were soft due to the movie offering (we could see this coming), commercial revenues came back a little and theater seats sale were the highest ever (and by far) which is encouraging.
While the $/seat or $/screen was the lowest in 2 years, I do think it is all related to the movie offering, and not D-Box itself, and based on last quarter tickets revenues, I think there is quite a potential on that side of the business and I'm not too bothered with the fluctuating nature of those revenues.
The most important thing was that they generated positive cash flow which mean that we could have a self-sustaining business at the moment (with possible need for debt to generate growth, not to survive).
Next quarter could be very interesting with a healthy backlog (nice additions since the end of Q2) and better movie offering (especially Gravity), but I still have a hard time figuring out the commercial side of the business, and a 300-400k$ variation on that side could make the difference between a positive or a negative EBITDA quarter...
Anyway, we are not out of the woods, but I think we are heading in the right direction.