Strong Revenue Growth
Net sales grew 23% to $16.2 million, marking the third consecutive quarter of year-over-year revenue growth.
OEM Segment Success
OEM net sales increased by over 50% year-over-year, reaching $10.1 million, driven by strong adoption of integrated solutions.
Improved Gross Profit and Margin
Gross profit rose 45.4% to $4.6 million, and gross margin improved by 430 basis points to 28.3%.
Patent Advancement
Granted a patent for nonflammable all solid-state battery program, enhancing safety, thermal stability, and scalability.
Successful Capital Structure Simplification
Exchanged remaining preferred shares to common stock and completed a public offering raising $5.5 million, strengthening financial flexibility.
Innovation in OEM Partnerships
Development of integrated energy storage systems for Airstream and other OEMs, showcasing engineering capabilities.