Double-Digit Revenue Growth
Q3 revenue increased by $13.5 million year-over-year, reaching $138.7 million, driven by strong demand in industrial markets.
Record Gross Margin
Gross margin expanded to a record 33.3%, marking the fifth consecutive quarter of margin expansion.
Significant Debt Reduction
Debt declined by $12 million sequentially in Q3, totaling nearly $34 million year-to-date, improving the leverage ratio to 2.1x from 3 at the end of 2024.
Strong Cash Flow
Year-to-date operating cash flow was $43.1 million, a 46% increase from the previous year.
Industrial Market Performance
Industrial market revenue advanced 20%, led by strong demand for power quality solutions in data centers.