Record Q1 Revenue
Total revenue for the quarter was $49.2 million, marking a Q1 record and up 12% compared to the same period last year.
Strong Equipment Sales
Equipment sales reached $25.7 million, also up 12% year-over-year, supported by price adjustments and strong distributor relationships.
Recurring Revenue Growth
Recurring revenue grew 11% over last year's Q1, with a gross margin of 90.3%, driven by the StarLink commercial fire radios.
Improved Profitability
Operating income increased 15% year-over-year. Net income rose 9% to a Q1 record of $12.2 million, and adjusted EBITDA was up 21%.
Strong Cash Position
Cash reached $106 million as of September 30, 2025, with no debt and cash from operations at $11.6 million.
Introduction of MVP Platform
The MVP cloud-based access control platform introduces a new subscription-based revenue stream, enhancing recurring revenue opportunities.