Financial Performance - Revenues for Q2 FY2025 were approximately $15.8 million, a 16.1% increase from $13.6 million in Q2 FY2024[3] - Operating income for Q2 FY2025 was $2.6 million, compared to $0.9 million in Q2 FY2024, reflecting a significant growth of 188.9%[3] - Net income for Q2 FY2025 was $2.7 million or $0.28 per diluted share, up from $0.8 million or $0.08 per diluted share in Q2 FY2024[3] - Gross margins for Q2 FY2025 were 48%, reflecting successful operational improvements[4] - Net cash provided by operating activities was approximately $2.4 million in the first half of FY2025, a turnaround from net cash used in operations of $3.0 million in the same period of FY2024[9] - The company remains debt-free and has paid two special dividends over the past two years, indicating strong financial health[5] Revenue Composition - Revenues from satellite payloads accounted for approximately 59% of consolidated revenues in Q2 FY2025, up from 35% in Q2 FY2024[6] - Revenues from non-space U.S. Government/DOD customers decreased to 37% of consolidated revenues in Q2 FY2025, down from 60% in Q2 FY2024[7] Backlog and R&D - The backlog reached an all-time high of $81 million as of October 31, 2024, compared to $70 million at the end of Q1 FY2025[4] - Internal R&D expenditures increased to 10% of revenue in FY2025, supporting competitive positioning in the quantum sensors market[5]
Frequency Electronics(FEIM) - 2025 Q2 - Quarterly Results