Strong Revenue Growth
Third quarter revenue of $66.7 million, representing a 19% increase year-over-year and an 8% increase sequentially.
Record Aerospace and Defense Revenue
Aerospace and defense revenue reached a record $45.6 million, with a 50% year-over-year increase and 12% sequential growth.
Expansion of Product Gross Margin
Product gross margin reached a record 41%, up from 28.8% a year ago and 38.5% last quarter, driven by a favorable customer and product mix.
Positive Adjusted EBITDA
Adjusted EBITDA for the third quarter was $7.1 million, compared to a loss of approximately $1 million in the same quarter last year.
Successful Progress on HELSI-2 Program
Continued progress on the HELSI-2 program, a $171 million project, with significant contributions to revenue expected through 2026.
Significant Sensing Contract
Secured a new $50 million contract for an existing missile program, enhancing the laser sensing product pipeline.