Strong Revenue Growth
Overall fourth quarter revenue increased by 11%, and service revenue grew by 63% over the same quarter last year, representing 44% of total revenue.
Improved Gross Margins
Gross margins increased by more than 800 basis points to 37% in the fourth quarter.
Successful Expansion of AZT PROTECT
AZT PROTECT cybersecurity offering gained dozens of new installations and expanded its pipeline, particularly in the industrial IoT market.
Strategic Partnerships and Market Expansion
Expanded relationships with strategic partners, including Rockwell Automation, and increased presence in various industries such as steel, energy, manufacturing, and telecommunications.
Strong Cash Position
Maintained a strong balance sheet with cash and cash equivalents of $27.4 million.