Company Reports Q3 Revenue of $49.2M, CEO Comments on Positive Performance
Reports Q3 revenue 49.2M, consensus $49.19M. CEO Richard Soloway commented, "Our Fiscal Q3 performance reflects positive financial results, including record Q3 Adjusted EBITDA of $15.8M, which was sustained by our recurring service revenue with its continued year over year double digit growth, and the consistent demand for our door-locking products that drove growth in our equipment revenue and improved equipment gross margins, which increased to approximately 29%. Our RSR continues to sustain gross margins of over 90%, represents approximately 51% of total revenue in Q3, and has a prospective run rate of approximately $101M based on our April 2026 recurring service revenue. Our revenue growth and margin expansion resulted in a 37% increase in Non-GAAP net income, a 20% increase in Adjusted EBITDA and our adjusted EBITDA margin was 32.2% as compared to 29.9% in Q3 of Fiscal 2025. As such we are pleased to continue our dividend program and will be paying the next quarterly dividend of 15c per share on July 3, 2026 to shareholders of record on June 12, 2026."
