Improved Liquidity and Financial Position
The company improved liquidity to $8.6 million from $3.8 million in December and reduced dilutive shares by 1.3 million. Current assets minus current liabilities improved to $3.6 million from a negative position last year.
Indonesia Program Expansion
The upcoming program in Indonesia is approximately 10 times larger than current operations. The draft RFP for mapping 1.6 million square kilometers has been published, with a budget of $195 million to $200 million, offering significant future revenue potential.
Increase in Cash from Operations
Cash generated from operations was $2.1 million for the quarter, representing a 22% growth over the comparable 6-month period in 2024.
Strong Commercial Business Performance
In Europe, the agentic AI product is driving record volumes of GEOINT consumption, leading to 70% higher pricing on average across the European portfolio.
New Product Launch - Insurance Risk Assistant Subsystem
The new AI/ML-driven SaaS solution, IRAS, mitigates risk and improves risk evaluation by up to 30% for specialty lines. It is compliant with EU's GDPR requirements.