Full-Year Revenue Growth
Revenue for full year 2025 was $36.4 million, up 2% year-over-year from $35.8 million, driven by North America and core vertical strength.
Gross Margin Expansion
Full-year gross margin improved to 65.5% from 64.1% in 2024, an increase of roughly 150 basis points, attributed to balanced product mix, product redesigns, and procurement efficiencies.
Net Income and EPS Improvement
Net income for 2025 was $3.2 million ($0.14 per share) versus $2.6 million ($0.11 per share) in 2024, showing stronger profitability at the full-year level.
Strong Balance Sheet
Cash and short-term deposits were $22.5 million at year-end (up from $20.6 million), and the company reported zero debt as of 12/31/2025.
Core Verticals and Geographic Strengths
Revenue from core verticals grew 5% for the year. U.S. revenue grew 9% year-over-year; North America/LATAM region revenue increased ~5% for the year. Canada returned to strong growth: +110% in Q4 and +22% for the full year.
LiDAR Momentum and Strategic Acquisition
2025 marked strong customer adoption of 3D LiDAR across verticals, producing strong LiDAR sales growth and pipeline creation in Q4. The acquisition of Blickfield (announced Dec 2025 / referenced as completed in 2026) is described as transformative to expand addressable markets (security, volume monitoring and traffic) and accelerate growth without significant incremental investment.
One-Time R&D Subsidy
Received a one-time government subsidy supporting AI development, validating investment in innovative technology solutions.