Financial Data and Key Metrics Changes - Total revenue increased by 38% to $7.8 million from $5.6 million in 2023 [20] - Gross margin improved to 55% from 34% in 2023, reflecting a 125% year-over-year improvement [21] - Operating loss decreased to $3.8 million from $7.4 million in 2023, a reduction of 49% [24] - Net loss for the year was $4.4 million compared to $6.3 million in 2023, with loss per share shrinking by 67% to $0.85 [24] Business Line Data and Key Metrics Changes - New orders in the federal/military sector grew by 150% year-over-year [10] - Software and services new orders tripled, driven by a large North American telecom customer [11] - The GigaLine 900 solution family gained significant traction with numerous trials and installations [11] Market Data and Key Metrics Changes - North American revenues increased by 134%, representing a larger portion of total business [20] - Major deployments secured in smart city and transportation sectors, including Washington, DC, and various European municipalities [12] Company Strategy and Development Direction - The company is focusing on three strategic initiatives for 2025: introducing MetaShield into the installed base, strengthening go-to-market execution, and enhancing operational efficiency [15][18] - The introduction of MetaShield aims to generate recurring revenue through subscriptions and integrated network management software [15] - The company is positioned to capitalize on major infrastructure projects, particularly in federal and military markets [16][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth, particularly in federal, city transportation, and IoT markets, which are valued in the tens of billions [38] - The company is focused on disciplined execution to capitalize on market opportunities and believes it is just beginning to tap into the potential of its target markets [30] Other Important Information - The company repaid nearly all outstanding debt, with only a $774,000 bank credit line remaining as of December 31, 2024 [25] - Cash and cash equivalents stood at $2.3 million at year-end, down from $5.5 million in 2023, primarily due to debt repayment [26] Q&A Session Summary Question: What caused the sequential decline in revenue from Q3 to Q4? - Management indicated that revenue fluctuations are normal due to the timing of larger orders and shipments, and they expect growth to continue over time [36][38] Question: Are expenses stable, or will they increase with growth? - Management confirmed that while expenses have been reduced, they plan to increase spending in sales and marketing to drive growth, but will remain prudent in overall spending [42][45] Question: How is the company positioned to benefit from military spending in Europe? - The company clarified that it focuses on US military sales, treating overseas operations similarly to domestic ones [47] Question: Is there a plan for a reverse stock split due to low share prices? - Management stated there is no current plan for a reverse split and expressed confidence in future growth improving share value [56] Question: What is the future outlook for the company financially and business-wise? - Management is optimistic about growth in federal, IoT, and MDU markets, but cannot guarantee profitability in 2025 [108]