Financial Performance - Q4 2024 revenue was 3.0million,adecreaseof294.2 million in Q4 2023, but an increase of 18.1% sequentially from 2.5millioninQ32024[7]−TotalrevenuefortheyearendedDecember31,2024,was11,386,000, a decrease of 39% compared to 18,704,000in2023[18]−Grossprofitfor2024was2,629,000, down from 6,357,000in2023,reflectingagrossmargindecline[18]−Operatinglossfortheyearwas9,211,000, compared to a loss of 6,772,000in2023,indicatingincreasedoperationalchallenges[18]−Netlossfor2024was8,983,000, significantly higher than the loss of 560,000in2023,resultinginabasiclosspershareof0.37[18] - Non-GAAP net loss for Q4 2024 was (2.1)million,or(0.09) per share, compared to a non-GAAP net loss of (1.2)million,or(0.05) per share, in Q4 2023[7] - Non-GAAP net loss for 2024 was 8,625,000,comparedtoalossof5,284,000 in 2023, indicating ongoing financial difficulties[20] - The company reported a comprehensive loss of 8,979,000for2024,comparedtoalossof582,000 in 2023, highlighting worsening financial performance[18] Operating Expenses - Full Year 2024 operating expenses decreased by 9.8% compared to the prior year[1] - Operating expenses for 2024 totaled 11,840,000,downfrom13,129,000 in 2023, showing a reduction in spending[18] Assets and Liabilities - Cash, cash equivalents, and investments as of December 31, 2024, were 1.4million,downfrom21.3 million as of December 31, 2023[9] - Total current assets decreased to 18,753,000in2024from43,317,000 in 2023, a decline of approximately 57.5%[16] - Total liabilities reduced to 5,213,000in2024from6,009,000 in 2023, a decrease of about 13.2%[16] - Shareholders' equity fell to 21,331,000in2024from44,685,000 in 2023, representing a decline of approximately 52.3%[16] Product Development and Market Strategy - The company introduced new products to address the lack of Microsoft Teams certification, aiming to improve sales and customer engagement[2] - The DIALOG® 20 USB 2-Channel Wireless Microphone was launched at ISE 2024, enhancing hybrid meetings with low audio latency[5] - The company plans to expand its market presence in regions like the Middle East and India, where sales have shown strength[4] Dividends - A special one-time cash dividend of 0.50persharewasannouncedinMarch2024,reflectingthecompany′sstrongbalancesheet[5]ProfitabilityMetrics−Q42024grossprofitwas0.9 million, with a gross profit margin of 30%, down from 38% in Q4 2023 but up from 24% in Q3 2024[7] - GAAP net loss for Q4 2024 was (2.2)million,or(0.09) per share, compared to a net income of 2.6million,or0.11 per share, in Q4 2023[7]
