Significant Revenue Growth and Profitability
Year-to-date revenue increased to $21.3 million. Gross profit surged by 35% to $10.7 million, and the gross profit margin improved dramatically to 50.1% from 30.7% in the prior year period. Free cash flow increased to positive $1.2 million from negative numbers in Q3 of last year.
Key Contract Wins and Market Expansion
Secured key contracts, including the National Israeli electronic monitoring project. Expanded into new regions such as New York, West Virginia, and Maryland, strengthening the U.S. market presence.
Technological Advancements
Launched advanced AI-driven analytics integrated into electronic monitoring systems. New products like PureProtect and PureOne are gaining traction in various markets, enhancing competitive edge.
Debt Reduction and Strong Cash Position
Reduced long-term liabilities by $4.5 million year-over-year. Cash balance grew to $6.2 million, marking the highest reported cash position in recent years.