Revenue and Gross Margin Growth
Revenue for the third fiscal quarter increased 16% to $16.7 million compared to $14.5 million in the third fiscal quarter of 2024. Gross profit for the third fiscal quarter of 2025 increased 32.5% to $5.3 million compared to $4 million in the third fiscal quarter of 2024. Gross margin increased to 32% from 28% in the previous year.
Product Innovation and Strategic Initiatives
The company launched the G96 battery solution, advancing electrification in the airline drone support equipment market. The Sky EMS platform is being expanded to support full life cycle management of intelligent batteries, with plans to make all batteries cloud-connected.
Improved Financial Position
Adjusted EBITDA loss reduced to $1.1 million in the third fiscal quarter of 2025 from $1.7 million in the same quarter of 2024. Net loss decreased to $1.9 million from $3 million the previous year.
Positive Customer Feedback and Market Position
Increased demand in material handling and ground support equipment markets with unit growth of 10% and 25% respectively. The company is perceived as having a competitive advantage due to lower exposure to tariffs compared to competitors.