Increase in Subscriber Base
Subscriber base increased by more than 8%, resulting in over 8,000 subscribing vessels for the first time.
Sequential Revenue and Adjusted EBITDA Growth
Returned to sequential airtime and service revenue growth, with a $1.2 million increase in total revenue over Q1 2025. Adjusted EBITDA rose to $2.7 million, a $1.7 million increase compared to the first quarter.
LEO Revenue Growth
For the first time, the increase in LEO revenue more than offset the decline in revenue from the legacy VSAT business.
CommBox Edge Subscriber Growth
Increased CommBox Edge subscribers by 24% compared to the first quarter of 2025.
Sale of Headquarters Facility
Completed the sale of the headquarters facility at the end of June, contributing to a higher cash balance.
Stock Repurchase Program
Purchased more than 242,000 shares at a cost of roughly $1,250,000.