Record Backlog Growth
The company's backlog reached a new record of $53 million, showing strong demand for its products.
Revenue Increase
Total revenue for the first quarter was approximately $4.6 million, up from $3.6 million in the prior year period.
Strong Demand for Xtract One Gateway
Approximately 60% of Q1 bookings were for the Xtract One Gateway, indicating high demand and market traction.
Successful Public Offering
The company raised aggregate gross proceeds of approximately $11.5 million in a recent public offering.
Diverse Market Penetration
Expansion into education and healthcare sectors, with healthcare bookings increasing from 14% to 36% year-over-year.