Revenue Increase
Revenue increased by 8% compared to Q3 2023 and is up 7% year-to-date.
Gross Margin Expansion
Gross margin was exceptionally strong at 68%, an 11.4% point increase over Q3 2023, driven by streamlining activities, price adjustments, and a favorable product mix.
Operating Expenses Reduction
Operating expenses decreased by 3.6% from Q3 2023 and 9.2% year-to-date due to diligent expense control.
Geographical Sales Growth
Significant sales growth in the U.S. (12%) and EMEA (26%) across key verticals.
Net Income Improvement
Net income attributable to shareholders was $1.3 million compared to a net loss of $122,000 in the same quarter last year.
EBITDA Growth
EBITDA for the third quarter was $2 million, a significant increase from $322,000 in Q3 2023.
New Product Success
Initial sales from the MultiSensor product are promising, highlighting its innovative impact in the market.