Significant Revenue Growth
Service revenue for Q2 2025 was over $2 million, more than 4x the prior year period, driven by oil and gas and environmental compliance work.
Strategic Acquisition
The acquisition of SeaTrepid expanded service capacity, deepened customer footprint, and unlocked opportunities to deploy autonomy stack, positively impacting backlog and margin profile.
Improved Financial Position
Ended Q2 with $2.7 million in cash, up $1.2 million from year-end, with additional funding from an aftermarket offering.
Diversified Customer Base
Expanded customer base to 9 clients, improving revenue concentration and allowing scalability.
New Contracts and Opportunities
Pending multi-month contract with a super major oil company expected to start in Q4, providing off-season revenue and margin continuity.