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BeWhere Holdings Inc. Reports Second Quarter 2025 Fiscal Results
Newsfileยท2025-08-28 12:21

Core Insights - BeWhere reported record quarterly sales of over $5.5 million for the three months ended June 30, 2025, representing a 28% increase compared to the same period in 2024, driven by strong product sales [2][7] - The company ended the quarter with $4.5 million in cash, despite facing challenges from tariff impacts on profitability [2][7] Financial Performance - Total revenue for Q2 2025 was $5,519,689, up from $4,320,672 in Q2 2024, marking an increase of $1,199,017 [7] - Recurring revenue increased by 21% year over year, reaching $2,005,455 compared to $1,660,689 in the prior year [7] - Annual recurring revenue (ARR) grew by 23%, standing at approximately $8.2 million at the end of Q2 2025, up from $6.6 million in Q2 2024 [7] - Gross profit for the quarter was $1,440,915, a slight increase of 2% from $1,411,263 in the same quarter of 2024, impacted by approximately $425,000 in higher tariff charges [7] - Adjusted EBITDA decreased by 42% year over year to $326,565 from $566,317, also affected by tariff costs [7] Company Overview - BeWhere specializes in low-power 5G IoT wide-area tracking technology, providing remote monitoring solutions that address cost, power, and environmental challenges [5] - The company has experienced rapid growth over the last six years, collaborating with Fortune 500 companies and deploying hundreds of thousands of trackers across various sectors [5][6] - BeWhere's tracking solutions are designed to be cost-effective and simple to implement, enhancing the capabilities of AI management platforms through increased connected devices [6]