Revenue Growth and Financial Performance
Revenue of $18.3 million represents a 109% year-on-year growth. Adjusted EBITDA is $5.16 million, a 48% increase year-on-year, and adjusted net income is $4.47 million, a 46.7% increase.
Strong Financial Position
Total cash reserves closed at $33.8 million, with debt reduced from over $20 million to $17 million in a cash-neutral manner.
Strategic Expansion and Partnerships
Expanding across the United States, Latin America, Southeast Asia, and East Asia with a $5 billion-plus pipeline. Partnerships include a significant investment in the ONE AMAZON project.
Share Buyback Program
Spent $1.8 million on share buybacks in the second quarter, totaling $5.4 million over the last 12 months, with $4.6 million of remaining capacity in the $10 million program.
Large Scale Projects and Long-Term Contracts
Secured contracts in public safety, education, and energy sectors, with contracts spanning multiple years, some up to 7-10 years.