Sequential Revenue Growth
Revenue grew 6% sequentially to $19.7 million, demonstrating strong quarter-over-quarter performance.
Gross Margin Improvement
Gross profit rose 20% to $5.8 million, lifting margins 400 basis points to 30%, showing significant improvement in profitability.
ERP System Implementation
The successful implementation of a new ERP system was completed on time and on budget, enhancing operational efficiency.
High Customer Conversion Rate
49% of the $25 million in new projects added in Q2 converted into customer commitments by the end of Q3, highlighting strong market validation.
Strong Cash Position
Ended the quarter with $58 million of cash, no debt, and $13.7 million of incremental availability under the revolver.