Strong Top-Line Growth
Q1 revenue $84.4M, up 18% year-over-year; orders $102.1M, up 26% sequentially; book-to-bill 1.21 (strongest since 2022).
Sensors Segment Momentum
Sensors revenue up 10% sequentially and 23% YoY; sensors bookings $45.2M, up 29% sequentially, book-to-bill 1.36; backlog highest since 2023 enabling production ramp hires.
Weighing Solutions and Measurement Systems Strength
Weighing Solutions revenue up 9% sequentially and 14% YoY with orders $32.9M (up 17% seq, book-to-bill 1.09). Measurement Systems orders $24M (up 32% seq, book-to-bill 1.15) and record DTS module sales driven by defense projects.
Improved Gross Margin and Segment Profitability
Company gross margin 39% in Q1 (improved vs Q4 and prior year). Segment gross margins: Sensors 34.8% (increase), Weighing 34.2% (increase), Measurement Systems 52.6% (decrease vs Q4).
Updated Target Operating Model
Targets: organic growth 8–10% CAGR over next 3 years; gross margin 46.5%; operating margin 14.5–15.5%; EBITDA margin 18.5–20.5%; plan includes $20M of cost reductions over 3 years and 50% flow-through on incremental revenue.
Business Development Traction
Q1 business development-related orders ~ $10–11M, on track to meet $45M 2026 target for BD initiatives; new customer engagements (including a fourth humanoid developer) underway.
Humanoid Robotics Early Wins and Upside
Shipped approximately $0.6M to humanoid makers in Q1 and expect to more than double in Q2; model assumes ~50% annual humanoid revenue growth from 2025 baseline ($4M in 2025).
Healthy Liquidity Position
Cash $82.5M, long-term debt $20.6M, net cash ~$62M and unused credit available to support operations and M&A.