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Financial Data and Key Metrics Changes - The company reported first-quarter revenue of $6,200,000, which is a 19% increase from $5,200,000 in the previous quarter and a slight increase from $6,100,000 in the same quarter last year [14][15] - Net loss for the first quarter was $382,000, an improvement from a net loss of $1,200,000 in the previous quarter and $807,000 in the same quarter last year [18] - Adjusted EBITDA was nearly breakeven at a loss of $98,000 compared to a loss of $364,000 in the prior year period [19] Business Line Data and Key Metrics Changes - Automotive electronics represented 66% of first-quarter bookings, up from 59% for all of 2024 [14] - Consumables, including adapters and services, accounted for 46% of total first-quarter revenue, providing a stable base of recurring revenue [15] - First-quarter bookings were $4,600,000, up from $4,100,000 in the previous quarter but down from $8,000,000 in the same quarter last year [15] Market Data and Key Metrics Changes - Revenue from the Americas and Europe saw significant growth, with increases of 324% and 244% respectively, while Asia experienced a 40% decline due to prior strong performance and current trade uncertainties [14][15] - The company noted that the automotive and IoT sectors showed unexpected strength in certain geographies, particularly in the domestic EV market in China [9] Company Strategy and Development Direction - The company is planning to roll out a new product roadmap over the next two to three quarters, focusing on strategic investments for growth and productivity improvements [7] - Discussions with semiconductor companies are ongoing, with expectations to announce strategic relationships by the end of Q2 [7][36] - The company aims to diversify its customer segments and is developing new products to meet the needs of industrial service provider networks [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of tariffs and trade uncertainties on business decisions, particularly in Asia, but expressed confidence in navigating these challenges [13][20] - The company remains focused on driving sales improvement through new go-to-market strategies and product developments despite current economic pressures [20] - Management indicated that while Q2 may be cautious, they are optimistic about future growth opportunities [20] Other Important Information - The company ended the first quarter with $10,500,000 in cash, reflecting higher sales and improved cost structure [19] - Operating expenses for the first quarter were CAD3.6 million, down 11% from the previous quarter and 12% from the prior year [18] Q&A Session Summary Question: Can you provide details on revenue mix between capital equipment, adapters, and software? - The recurring revenue mix decreased to 46% in Q1 from 50% in the prior year, but overall revenue increased due to more systems being secured and delivered [22][23] Question: Will SG&A expenses continue to decrease throughout the year? - While there are ongoing efforts to reduce expenses, significant year-over-year reductions may not be anticipated, as investments will also be necessary for growth [27][29] Question: How is the company progressing in the semiconductor sector? - The company has made substantial contacts at trade shows and is optimistic about building relationships with semiconductor houses, which could lead to future business opportunities [36][37]