Sequential Revenue Growth
Revenue for the second quarter was $13.6 million, up 13% sequentially from the first quarter, driven by strong demand for embedded modems and IoT solutions in the enterprise market.
NimbeLink Embedded Modem Performance
The NimbeLink embedded modem line performed strongly in Q2, particularly in utility infrastructure monitoring sectors, including energy management and electrical grid applications.
FirstNet Trusted Certification for AC-Fleet
Achieved FirstNet Trusted certification for AC-Fleet, opening access to FirstNet's public safety network and facilitating large-scale deployments in mission-critical environments.
New Tier 2 Utility Deployment
Secured a new Tier 2 utility deployment with a Mid-Western electric utility, marking a significant win for the AC-Fleet solution in the utility market.
Stable Consumer Market
Wi-Fi 7 shipments continued to ramp up, providing a stable revenue foundation in the consumer market.
Improved Gross Margin
Non-GAAP gross margin increased 230 basis points year-over-year to 43.8%, driven by improved enterprise product margins.
Cost Management and Cash Optimization
Operating expenses decreased, and cash and equivalents increased by $0.3 million sequentially due to disciplined working capital management.