Overview
- Q4 revenue reached $86.82 million, topping the $78.53 million consensus and rising 41% year over year.
- Full-year sales hit a record ~$308 million as the company generated $134 million in operating cash, $52.9 million in free cash flow, and ended with $640 million in cash and investments.
- Remaining performance obligations climbed 106% to $852 million and backlog increased 79% to over $900 million, though some government work can be cancelable.
- Guidance calls for Q1 revenue of $87 million to $91 million and fiscal 2027 revenue of $415 million to $440 million, with capex of $80 million to $95 million and adjusted EBITDA targeted around breakeven to $10 million.
- New work with Nvidia aims to shift image processing to GPUs to cut analysis from hours to seconds, an R&D effort with Google explores space-based data centers, and margins narrowed to 54% with a wider net loss partly from a $122.6 million warrant revaluation.