Record Revenue Growth
Revenue for the first quarter of fiscal 2026 increased by 79% to $15.1 million compared to $8.4 million in the same period last year.
Strategic Investments and Partnerships
Secured an $8 million equity investment from Ondas Holdings and Unusual Machines to accelerate commercialization, particularly in uncooled infrared solutions for drone applications.
Growth in Systems and Subsystems
Backlog increased to approximately $90 million, with more than 2/3 in systems and subsystems, indicating a successful shift up the value chain.
Introduction of Germanium-Free Cameras
Launched the first germanium-free G5 camera variant using proprietary BlackDiamond glass, addressing supply chain issues and reliance on Chinese materials.
High-Value Orders Secured
Received significant orders totaling over $40 million for advanced infrared cameras, scheduled for delivery in 2026 and 2027.
Positive Adjusted EBITDA
Adjusted EBITDA for the first quarter of fiscal 2026 was $0.4 million positive compared to a loss of $0.2 million in the prior year.