Baylin Tech Posts Revenue and Profit Gains

Baylin Tech (TSE:BYL) has released an update.

Baylin Tech has reported a robust start to 2024 with a 24% revenue surge and a 36% climb in gross profit from the previous quarter, despite a reduced gross margin and a net loss of $2.0 million. The growth is attributed notably to the Embedded Antenna business line, outstripping the performance seen in both the Wireless Infrastructure and Satcom segments. Adjusted EBITDA, however, fell compared to the same period last year, influenced by higher operating expenses and absence of one-time government credits.

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