Record Sequential Revenue Growth
Total company revenue grew 16% sequentially to $30.6 million, with security solutions growing 18% sequentially and secure networks growing 8% sequentially.
GAAP and Cash Gross Margin Improvement
GAAP gross margin expanded 278 basis points to 39.8%, and cash gross margin expanded 313 basis points to 45.3%.
Positive Cash Flow from Operations
Cash flow from operations was a positive $6.1 million, and free cash flow was a positive $3.8 million.
Growth in Security Solutions
Security solutions revenue increased from 63% of total company revenue in Q1 2024 to 84% in Q1 2025, driven by the DMDC program and TSA PreCheck enrollment.
Expansion of TSA PreCheck Enrollment Centers
73 new TSA PreCheck locations added in nine weeks, totaling 291 locations, with a target of 500 by the end of 2025.