Significant Revenue Growth
Revenue from continuing operations was $20.7 million in Q3 2024, an increase of $3.8 million or nearly 26% compared to Q3 2023.
Improved Gross Profit and Margin
Gross profit from continuing operations increased by $2.9 million, or over 44%, compared to the same quarter last year. Gross margin increased to 46.1% from 39.2% in Q3 2023.
Positive Adjusted EBITDA
Adjusted EBITDA from continuing operations was $0.9 million, an increase of $1.7 million from the negative $0.8 million in Q3 2023.
Successful Sale of Assets
Completed the sale of Galtronics Korea Limited, recognizing a gain of $0.9 million, with the expected completion of Galtronics Vietnam Company Limited sale in Q4 2024.
Innovative Wins in SATCOM
SATCOM's high-power amplifier systems were chosen for various projects, including NASA's Artemis Moon exploration program and the North Warning System.
Resilient Backlog
Backlog from continuing operations increased from $30.2 million at the end of Q3 to $31.9 million by October 31, 2024.