Strong Revenue Growth
Fourth quarter revenue reached $16.7 million, an increase from $13.4 million in the same quarter of the prior year. Full year 2025 revenue grew to $66.4 million from $60.8 million in the prior year.
Gross Margin Improvement
Gross margin in the fourth quarter improved to 34.5% from 26.8% during the same quarter of the prior year. The full year gross margin increased to 32.7% from 28.3% in the prior year.
Significant Purchase Orders in Airline Sector
Received a $2 million order for 120 units of the redesigned G80-420 lithium-ion battery pack from a major North American airline, and an additional $1.2 million order including the SkyEMS software platform.
SkyEMS AI Platform Progress
Beta testing access of SkyEMS version 2.0 provided to an airline customer, with plans to roll it out to additional customers. Expected to generate recurring revenue and foster integration in customer fleets.
Reduction in Net Loss
Net loss for the fourth quarter was reduced to $1.2 million or $0.07 per share from $2.2 million or $0.13 in the fourth quarter of 2024.
Positive Adjusted EBITDA
Adjusted EBITDA for the fourth quarter was positive $600,000 compared to negative $1.2 million in the same quarter a year ago.
Operational Efficiency Initiatives
Implemented cost-reduction strategies including a 15% reduction in headcount, renegotiation with vendors, and product design simplifications.