Revenue Growth
Sales increased by 11.1% year-over-year to $176.2 million in Q2 2025, with significant growth in electric power steering systems (EPS), which rose by 31.1% year-over-year.
EPS Product Success
Electric power steering systems now account for 41.2% of total sales, up from 35.1% in the previous year, indicating a successful shift towards higher technology products.
Expansion in Brazil and North America
Brazilian sales increased by 49.4% year-over-year, accounting for 10.1% of total sales, while North American sales rose by 14.9%, driven by demand from Stellantis.
Net Cash Increase
Net cash provided by operating activities rose by almost $40 million year-over-year to $49.1 million for the first 6 months of 2025.
New Product Launch
The second-generation IRCB is now in mass production in China, setting a new record in the power steering industry for ramp-up to mass production.