Significant Revenue Growth
First quarter revenue increased by 41.7% over the first quarter of 2024, driven by acquisitions and increased demand.
Improved Gross Margin
Gross margin improved to 24.3% versus 17.3% in the same quarter last year.
Record Backlog in Building Solutions
Building Solutions division backlog hit a record $27.9 million at quarter end compared to $14.8 million at the end of Q1 2024.
Establishment of Energy Services Division
Acquisition of Alliance Drilling Tools marked the establishment of the Energy Services division.
Positive Cash Flow from Operations
Consolidated cash flow from operations was an inflow of $0.6 million versus an outflow of $2.4 million in Q1 2024.