Financial Data and Key Metrics Changes - First quarter revenue was 19.1million,representinga4.52.1 million or 0.55perdilutedshare,comparedto681,000 or 0.19perdilutedshareinQ12024[7][16]−Non−GAAPadjustedearningswere2.6 million or 0.68perdilutedshare,comparedto1.1 million or 0.30perdilutedshareinthesameperiodlastyear[7][16]−BacklogasofMarch31,2025,was18.8 million, slightly down from 19millionattheendofQ12024[8]BusinessLineDataandKeyMetricsChanges−TheBKR5000singlebandradiomaintainedstrongdemand,whiletheBKR9000multibandradioisgainingtractioninthemarket[13]−ThecompanyexpectsrevenueandgrossmargintoexpandastheBKR9000becomesalargercontributortooverallrevenues[13]MarketDataandKeyMetricsChanges−FederalorderswerelightinQ1duetodelaysinpassingthecontinuingresolution,butincreasedordersareexpectedasfundinghasbeenapproved[14][36]−Approximately958.9 million in cash and cash equivalents and no debt as of March 31, 2025 [17] - SG&A expenses increased to approximately 6millioninQ12025from5.3 million in the same quarter last year [15][16] Q&A Session Summary Question: Was Q1 impacted by any pull in orders? - Management indicated that Q1 was not impacted by pull-in orders, and federal orders were delayed due to the continuing resolution [23][25] Question: What are the expectations for gross margins in Q2? - Management expects gross margins to remain above 42%, despite some tariffs impacting products from Vietnam [26][27] Question: Will revenue from the BKR 9000 increase sequentially in Q1? - Management confirmed that revenue from the BKR 9000 was up sequentially in Q1 [29] Question: How does the continuing resolution affect seasonality? - Management noted that the continuing resolution has allowed key customers to receive funding, but there are delays due to personnel changes [35][36] Question: What is the long-term target for SG&A as a percentage of revenue? - Management indicated that SG&A costs are relatively fixed, but investments in marketing and new product development will lead to some incremental costs [48][49]
