Revenue Growth
Revenue for Q1 2025 increased by 17.6% to $7.3 million compared to Q1 2024, slightly ahead of the forecast.
Uplisting Achievement
Successfully uplisted from OTCQX to the NYSE American stock exchange, increasing shareholder access and daily trading volume.
Improved Financial Metrics
Adjusted EBITDA loss narrowed from $900,000 to $381,000, and gross profit margin improved from 41.6% to 44.3%.
Product Segment Growth
Products revenue increased by 70% quarter-over-quarter to $2.4 million due to increases in chiller and cogeneration shipments.
Data Center Strategy Success
Significant interest in Tecochill technology with multiple larger project quotes and positive feedback from prospective customers.
Partnership with Vertiv
Progress in partnership with Vertiv, including a dedicated project manager and ongoing marketing and sales training.
Increased Backlog
Current backlog is $10.8 million with expectations for further non-data center project additions.