Double-Digit Revenue Growth
Third quarter revenue increased by 14% to $46.2 million, up from $40.5 million in the same period last year. For the first nine months of the year, revenue was up more than 18%.
Record EBITDA Margin
Adjusted EBITDA increased by 34% to $6.8 million, translating to a record adjusted EBITDA margin of 14.6%, improving from 12.4% in the same period last year.
Strong Cash Flow and Balance Sheet
Cash flow from operation in the quarter was $7.5 million, driven by improved profitability and working capital efficiency. The company ended the quarter with $47.1 million in cash and a low debt-to-EBITDA ratio of 0.5x.
Increased Backlog and Operational Efficiency
Operating income reached $5.2 million, up by 52.6% year-over-year. The backlog grew by close to $100 million since the beginning of the year, validating durable customer demand.
Landing Gear Segment Surge
Revenue in the landing gear area more than doubled year-over-year and nearly doubled on a sequential basis, reflecting a surge in intake and operational ramp-up.