"E-commerce revenue rose 88% in fiscal 2025, with e-commerce now representing over half of total company revenue. Gross margin improved to 62.5% in fiscal 2025 from 54.1% in fiscal 2024, attributed to favorable product mix and e-commerce contributions."
"The Leafotech litigation was resolved and all litigation dismissed; the CFO stated, 'The results were immaterial to us both financially and operationally.' Direct management of Amazon began in the quarter, enabling improved product presentation, revenue retention, and marketing optimization."
"Municipal traction includes field deployments ongoing in Chicago and Baltimore; New York City trial concluding in the middle of Q2, with follow-up bidding discussions underway. Multiple presentations to major retailers completed; large retail orders could rapidly increase revenue, with the CFO stating, 'One pallet each. That is a $2 million order.'"
The company reported fiscal 2025 revenue of $2.2 million, representing 20% growth with adjusted growth of 30% excluding Amazon transition impacts. E-commerce revenue rose 88%, now comprising over half of total revenue. Gross margins improved significantly to 62.5% from 54.1%, driven by favorable product mix and e-commerce contributions. Net loss widened to $6.4 million from $6.2 million, though adjusted net loss was $5.6 million excluding one-time expenses. Adjusted EBITDA loss improved to $5.3 million. The company ended with $8.6 million in liquidity. Key operational developments include resolved litigation, direct Amazon management transition, New Zealand regulatory approval and shipment, ongoing municipal deployments in Chicago and Baltimore, and retail pipeline expansion with potential large orders.
#e-commerce-growth #margin-expansion #municipal-deployments #retail-expansion #international-markets
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