Reports Q4 revenue $33c vs. $36c last year. Richard Soloway, Chairman and CEO, commented, “With the completion of our Q4, our RSR remains strong as we continue to see double digit growth in Q4 and annually and gross margins at 91%. RSR represents 44% and 48% of total revenue in Q4 and annually, respectively, and our RSR has a prospective run rate of approximately $94M based on our July 2025 recurring service revenue, which reflects approximately a $5M increase from what was reported at the end of our Q3. We faced challenges with our equipment revenue performance throughout FY25 as distributor destocking lingered throughout the year as well as timing of larger project work in our door-locking segment, however we are encouraged by the 27% increase in equipment sales from Q3 to Q4, and we are optimistic that equipment sales will grow in FY26, and believe we are well positioned with the evolving tariff environment.”
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