Connected Home Channel Growth
The Connected Home sales grew by 31% to $31.7 million for Q1 2025, demonstrating success in new projects and expansion with existing accounts.
Improved Financial Performance
Net loss improved from $3.4 million in Q1 2024 to $1.5 million in Q1 2025, with a per-share loss decreasing from $0.26 to $0.12.
Operating Expense Reduction
Operating expenses decreased from $29.4 million in Q1 2024 to $27.6 million in Q1 2025, reflecting cost-saving measures.
Cash Flow and Debt Reduction
Generated $9 million of cash flow from operations and reduced net debt to $3.6 million by March 31, 2025, from $10.2 million at year-end.
Strong Sales Guidance for Q2 2025
Sales are expected to grow between 1% and 12% year-over-year, with Connected Home sales projected to grow between 37% and 55%.