Revenue Growth Year-over-Year and Fiscal YTD
Net revenues of $6.1 million in Q3 FY2026, a 12% increase year-over-year (from $5.4M) and a 28.5% increase on a fiscal year-to-date basis.
Gemini II Benchmark and Edge AI Advantage
Preliminary TTFT benchmark: three-second time to first token for a multimodal (text + video) workload at ~30 watts system power; up to 3x faster first-token performance and lower power versus a competitive platform, supporting low-power, low-latency edge AI use cases.
Strategic Partnership and Non-Dilutive Government Funding
Signed agreement with G2 Tech for Sentinel POC (autonomous perimeter security). Expecting >$1 million in government funding to be recorded as an offset to R&D expenses for the project, and potential pathway to design wins if the government evaluation succeeds.
PLATO Hardware Development and IP Investment
Purchased required IP and commenced PLATO hardware development; added contract engineers to support hardware design with target operations in early 2027, demonstrating clear R&D progress and roadmap commitment.
Improved Cash and Balance Sheet Position
Cash and cash equivalents increased to $70.7 million as of December 31, 2025 (from $25.3M on Sept 30, 2025 and $13.4M as of March 31, 2025), primarily driven by $46.9M net proceeds from an October 2025 registered direct offering; working capital $71.7M and stockholders' equity $83.6M.
Customer Mix Wins — Notable Nokia Increase
Sales to Nokia rose to $675,000 (11.1% of net revenues) from $239,000 (4.4% of net revenues) a year ago, indicating growing traction with this customer (+~182% YoY in dollar terms).
Guidance for Q4 FY2026
Company provided Q4 guidance of net revenues between $5.7M and $6.5M and gross margin expected approximately 54%–56%, indicating modest near-term visibility.