产品全线导入，盈利能力改善

Investment Rating - The report maintains a "Buy" rating for the company [9][25]. Core Insights - The company's AEC products are being continuously adopted, with significant revenue contributions expected from major clients like Amazon and other North American cloud providers [2][4]. - The company anticipates a turning point in AEC revenue growth in FY25H2 due to new client onboarding and increased demand from existing clients [2]. - The gross margin is expected to improve, with projections of reaching 63% to 65% over the next two years [2][4]. Financial Performance - For FY24Q3, the company reported revenue of $53.1 million, a 20% increase quarter-over-quarter but a 2% decrease year-over-year [4]. - The GAAP gross margin for FY24Q3 was 61.4%, reflecting a 2.1 percentage point increase from the previous quarter and a 2.5 percentage point increase year-over-year [4]. - The company achieved a GAAP net profit of $400,000, a turnaround from a loss of $6.6 million in FY24Q2 [4]. Revenue and Profit Forecast - Revenue projections for FY24E, FY25E, and FY26E are $106.48 million, $184.19 million, and $188.15 million respectively, with expected growth rates of 2.1%, 57.0%, and 33.1% [8]. - The forecasted GAAP net profits for FY24E, FY25E, and FY26E are -$8.85 million, $6.60 million, and $28.22 million respectively, indicating a significant recovery in profitability [8][9].