Revenue and Adjusted EBITDA Exceed Expectations
Second quarter revenue was $97.9 million, up 32% sequentially from $74.3 million in first quarter 2025, and adjusted EBITDA set a new quarterly record at $27.6 million.
Strong Performance in Endpoint ICs
Second quarter endpoint IC revenue was $84.6 million, up 38% sequentially from $61.2 million in first quarter 2025. M800 and Gen2X drove this growth, with sequential endpoint IC product revenue growing 12%.
Record Gross Margin Achieved
Second quarter gross margin was 60.4%, compared to 52.7% in first quarter 2025, driven by licensing revenue and a richer mix of M800.
Cash Position and Free Cash Flow
The company ended the second quarter with cash, cash equivalents, and investments of $260.5 million, and free cash flow totaled $27.3 million.
Positive Outlook for Third Quarter
Revenue guidance for the third quarter is between $91 million and $94 million, with expectations for continued sequential growth in endpoint IC and systems revenue.