Vislink reports Q2 EPS (93c) vs. ($1.27) last year

Reports Q2 revenue $8.7M vs. $5M last year. “Vislink’s second quarter results show our continuing progress, highlighting the effectiveness of our strategic initiatives and the continued execution of our growth plans,” stated Mickey Miller, CEO of Vislink. “We achieved a 73% increase in revenue, reaching $8.7 million, driven by continued advancement in both the MilGov and Live Broadcast markets. Our weighted sales pipeline grew to $51 million, reflecting strong customer optimism for our refreshed product portfolio. Recent shipments to U.S. Customs and Border Protection and other MilGov End Users and OEMs demonstrate our ability to seamlessly integrate existing AVDS products with assets acquired from BMS to expand our customer base and capabilities. “As we progress through the second half of the year, we are driving innovation by increasing our investment in R&D in multiple areas. Our developments in AVDS and unmanned and manned drone systems demonstrate how we are strengthening our position in aerial and terrestrial solutions. These efforts are expected to improve our market position and ability to capitalize on the growing demand for Unmanned Control, Command, and Payload solutions. Recent significant orders and market penetration underscore our momentum and expanding impact in this exciting, high-growth market. “With the upcoming launch of our upgraded and unified ERP system this fall, we anticipate further improvements in supply chain efficiency and operational performance. These improvements will support our ongoing efforts to enhance gross margins and reduce operating costs. While we continue to target cash flow neutrality by the end of 2024, timing may vary as we strategically prioritize incremental R&D investments that meet customer needs in high-growth markets. Our goal is to develop differentiated IP that can be leveraged for a high return on investment. We expect to offset the additional R&D investment through operational improvements that will allow us to achieve positive cash flow in 2025.”