Evolve Product Line Expansion
Evolve revenue grew 40% compared to the previous year, with gross margins increasing to nearly 65%, up from 33%, resulting in a 132% increase in gross profit.
Municipal and Ecommerce Growth
Significant deployments in major U.S. cities like Chicago and New York. Ecommerce sales increased by 107% over the last year.
International Market Expansion
Agreements signed for distribution in 12 countries, with commercial shipments occurring in Hong Kong, UAE, Maldives, and Netherlands.
Operational Efficiency Improvements
Implemented initiatives to reduce expenses by $2 million annually, lowering the revenue threshold for cash flow breakeven to $1.5 million quarterly.
Record Gross Profit
Gross profit for the first quarter was the highest in the company's history due to the launch of Evolve.