Record Endpoint IC Volumes
Third quarter results showed record endpoint IC volumes, contributing to a new quarterly product revenue record, despite weak retailer buying patterns and tariff headwinds.
Strong Systems Revenue Growth
Third quarter systems revenue was $17.3 million, up 30% sequentially from $13.3 million in second quarter 2025 and up 21% year-over-year from $14.2 million in third quarter 2024.
New Leadership in SaaS and Cloud Services
Hired an SVP of SaaS and Cloud Services to develop software and win recurring revenue opportunities, enhancing the company's strategic focus on software.
Positive Cash Flow and Financial Position
Free cash flow was $18 million compared to $4.7 million in third quarter 2024, and cash, cash equivalents, and investments totaled $265.1 million.