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NEWS ER TODAY

Positive
Revenue increased 16.2% YoY to $15.8M in Q2 FY2025
Operating income grew 188.9% to $2.6M in Q2
Record backlog of $81M, up from $78M at fiscal year-end
Strong gross margins at 48% for Q2
Net cash from operations improved to $2.4M from -$3.0M YoY
Company maintains debt-free status

Negative
R&D expenses increased to 10% of revenue
Commercial and industrial sales declined to $0.6M from $0.7M YoY
Non-space U.S. Government/DOD revenues decreased to $5.8M from $8.2M YoY
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