Substantial Increase in SPD SmartGlass Sales
Sales of SPD SmartGlass sunroofs to Cadillac in Q2 2025 were significantly higher than Q4 2024 and Q1 2025 combined.
Successful Transition of Ferrari Supplier
After the bankruptcy of a European licensee, another existing licensee in Europe successfully transitioned to supply Ferrari, with additional production already started.
Strong Revenue Growth in Q1 2025
A 79% revenue growth was achieved in Q1 2025 compared to the prior year, and 214% from the prior quarter, driven by increased demand in the automotive and aircraft sectors.
Continued Sales Momentum
Continued sales of SPD SmartGlass roofs for Mercedes and McLaren were noted in the first half of 2025.
Debt-Free Financial Position
As of June 30, 2025, the company remained debt-free, with cash and cash equivalents of approximately $1.3 million and working capital of approximately $1.7 million.