Overview
- Shares jumped more than 23% in after-hours trading as investors reacted to stronger margins and tighter guidance.
- The company reported $8.7 million in quarterly revenue, with production revenue at $7.6 million, a 131% year-over-year increase.
- Gross margin improved to 23.6% from 2.8% in the prior quarter, and adjusted EBITDA reached $0.3 million versus a $1.3 million loss a year ago.
- Aerospace contributed $3.6 million and single-use cystoscopes delivered $2.2 million, supported by a 97% aerospace yield and rapid yield gains in cystoscopes.
- Full-year guidance now calls for $29 million to $31 million in revenue and a narrowed adjusted EBITDA loss of $2.5 million to $2.7 million, with a recent $10 million offering funding capacity expansion and growth plans.