Crown(US:CRKN) Globenewswireยท2025-05-16 13:00Core Viewpoint - Crown Electrokinetics Corp. reported significant revenue growth in Q1 2025, driven by new contracts in various sectors, despite an increase in net loss compared to the previous year [2][3]. Financial Results - Revenue for Q1 2025 was $2.8 million, up from $0.7 million in Q1 2024, reflecting a growth of approximately 300% [2]. - Gross margin for Q1 2025 was a loss of $1.0 million, unchanged from Q1 2024 [2]. - Operating expenses rose to approximately $8.9 million in Q1 2025, compared to $2.7 million in Q1 2024 [3]. - Net loss for Q1 2025 was $9.7 million, compared to a net loss of $4.6 million in Q1 2024 [3]. Recent Business Highlights - Crown performed advanced lead service line inspections in Baltimore and Pittsburgh, enhancing compliance with non-invasive technology [4]. - The company secured a Master Service Agreement with a new regional telecom provider in Oregon, expanding its market reach [7]. - Final regulatory approvals were received for proprietary design slant wells in Cabo San Lucas, Mexico, aimed at providing a sustainable water source [8]. Inducement Awards - Crown granted 627,500 restricted stock units to eight newly hired employees as an inducement equity award, which will cliff-vest on the second anniversary of the grant date [5]. Company Overview - Crown is a provider of innovative technology infrastructure solutions, operating in sectors such as Smart Windows and Construction, and aims to redefine industry standards [6].