AVANTE ANNOUNCES RESULTS FOR THE FIRST FISCAL QUARTER HIGHLIGHTING 25% IMPROVEMENT IN RECURRING MONTHLY REVENUE

Core Insights - Avante Corp. reported solid growth in the first quarter of fiscal 2026, with an 11% year-over-year increase in revenue and a 25% rise in recurring monthly revenue, driven by strong performance across all divisions, particularly NSSG, which saw a remarkable 126% revenue increase [2][4][5] - The company achieved positive operating cash flow, Adjusted EBITDA of $0.36 million, and net income of $11 thousand, marking a significant turnaround from a net loss of $128 thousand in the same quarter of the previous year [6][4][5] - Avante's balance sheet remains robust, with $4.7 million in cash and no bank debt, providing flexibility for growth initiatives [2][4] Financial Performance - Revenue for the first quarter of fiscal 2026 was $8.75 million, an increase of $0.83 million from $7.91 million in the prior year [5] - Gross profit from continuing operations rose by $0.31 million, maintaining a stable gross profit margin of 38% [5][8] - Recurring monthly revenues reached $4.06 million, reflecting a 25% increase compared to the previous fiscal year [5][8] Strategic Outlook - Management maintains a positive outlook for fiscal 2026, focusing on disciplined growth and expanding recurring revenues through innovative, tech-enabled security solutions [2][4][7] - The company is committed to leveraging its NSSG footprint to enhance international revenues and ramping up its WALL-E business with new customer acquisitions [10]