Record Revenue Growth
Revenue exceeded $70 million for the first time in a quarter, representing an 80% increase compared to the same period last year.
Strong Grid and Wind Performance
Grid revenue grew by over 85% and Wind business revenue increased by nearly 55% compared to the previous year.
Consistent Profitability
Achieved net income of over $6 million, marking the fourth consecutive quarter of profitability, with gross margins reaching 34%.
Healthy Backlog
Closed the quarter with a 12-month backlog of over $200 million, up from $160 million the previous year, and a total backlog of over $300 million.
Cash Position Strengthened
Ended the quarter with $213.4 million in cash, following a successful public offering that generated $124.6 million in net proceeds.
Diverse Revenue Streams
Revenue was sourced from a variety of sectors, with significant contributions from Traditional Energy, Renewable Energy, and Materials driven by semiconductors.