Customer DependencyExcluding previous key customer Gridspertise, which is indefinitely stalled, F1Q revenue grew 3% y/y and q/q.
Inventory IssuesExcluding previous key customer Gridspertise, which has halted procurement due to excess inventory.
Regional PerformanceEMEA (-80% y/y) was again very weak, likely due to Togg EV production and lack of Gridspertise revenue.