Strategic Transformation and Divestiture
Successful divestiture of the Light-Duty segment, which strengthened the balance sheet and sharpened strategic focus on high-impact opportunities in commercial transportation and industrial applications.
Cespira Revenue Growth
Cespira generated $12 million in revenue during the quarter, showing growth from $4.1 million in the same period last year.
Cost Reduction Initiatives
Operating expenses, including R&D, sales and marketing, and G&A, were reduced to $15.5 million in Q2 2025 from $21.6 million in Q2 2024.
Strong Positioning in Hydrogen Market in China
Opening of a state-of-the-art hydrogen innovation center and manufacturing facility in China, anticipated to drive growth in the hydrogen transportation solutions sector.