Record Revenue Growth
Q1 2025 revenue of $15.1 million, up 26% year-over-year and 7% sequentially.
First Positive Net Income and Adjusted EBITDA
Net income was positive for the first time, improving $5.4 million year-over-year. Adjusted EBITDA was positive at $1.1 million, an improvement of $3.9 million from the previous year.
Dividend Increase
Quarterly dividend increased to $0.08, or $0.32 annualized, doubling from previous levels.
Strong Balance Sheet
$39 million in liquidity with no debt, providing significant operating flexibility.
Gross Margin Improvement
First-quarter gross margin improved to 53% from 44% a year ago.
Continued Positive Cash Flow
Adjusted free cash flow came in at $2 million, marking the fifth consecutive quarter of positive free cash flow.