Significant Revenue Growth
Revenue for the first quarter of 2025 increased by 92.2% year-over-year to $18.8 million and grew 9.1% sequentially.
Geographical Sales Growth
The company experienced positive sequential sales growth in EMEA, the Americas, and APAC regions, with notable improvements in Italy and the Netherlands.
Gross Margin Improvement
Gross profit improved to $7.2 million or 38.1% of revenue, up from 28.2% in the previous year, driven by cost-cutting efforts.
Operating Loss Reduction
Operating loss decreased by 56.2% to $4 million compared to $91 million in the prior year period.
Positive Outlook
The company expects continued topline growth for the remainder of 2025, with second quarter revenue guidance between $21 million and $23 million.