Revenue and Profitability Growth
Total revenue for the quarter grew to $71.3 million, an increase of $3.4 million over the same period last year. Adjusted EBITDA rose by $5.3 million to reach $16.7 million.
Positive Free Cash Flow
Generated $1.6 million in positive free cash flow, marking the third consecutive quarter of positive cash flow.
Increase in IoT Solutions Revenue
IoT Solutions revenue increased 25% to $15.2 million, driven by strong sales of connectivity-enabling hardware and services.
IoT Connectivity Segment Growth
Total connections grew by 8% year-over-year to surpass 20.1 million, driving steady increase in IoT Connectivity revenue.
Strong Sales Pipeline
Total pipeline of opportunities grew to $84.6 million with $10.2 million converted into closed won estimated annual recurring revenue (eARR).
Strategic Wins in Key Markets
Success in connected health space and wins with AI-driven security, telematics hardware, and global virtual fence providers highlight technology and strategic expertise.