Aerospace and Defense Revenue Growth
Aerospace and Defense (A&D) revenue was a record $40.7 million in the quarter, up 48.6% year-over-year and 24% sequentially. A&D accounted for 66% of total sales, up from 54% the previous year.
Record Development Revenue
Development revenue reached a record $20.9 million, growing more than 30% sequentially and year-over-year.
Gross Margin Improvement
Total gross margin rose to 29.9% compared to 23.5% in the second quarter of 2024, driven by higher factory absorption and a favorable business mix.
Non-GAAP Net Income
Non-GAAP net income for the second quarter was $2.9 million or $0.06 per diluted share, compared to a non-GAAP net loss of $4.6 million or $0.10 per share in the second quarter of 2024.
Successful Execution in HELSI-2 Program
Significant progress in the HELSI-2 program, a $171 million Department of Defense project, contributing to record defense product revenue.
International Expansion in Directed Energy
Shipping started to a new international customer, and a growing pipeline of global opportunities in directed energy was reported.