Financial Data and Key Metrics Changes - Revenue for Q4 2024 increased by 14.5% to $10,200,000 compared to $8,900,000 in Q4 2023 [17] - Gross margin for Q4 2024 was 64.5%, up from 56.6% in the same quarter last year [19] - EBITDA for Q4 2024 reached $1,600,000 compared to $450,000 in Q4 2023 [20] - For the full year 2024, total revenue was $35,800,000, a 9% increase from $32,800,000 in 2023 [21] - Net income for 2024 was $2,600,000 or $0.11 per share, compared to a net loss of $1,300,000 or negative $0.06 per share in 2023 [23] Business Line Data and Key Metrics Changes - Significant growth was reported in utility sales, particularly driven by breakthroughs in data centers across all regions [18] - The corrections vertical saw important wins, particularly in the USA, reflecting steady demand for advanced security technologies [10] - The transport sector experienced major wins in Q4 2024, with increased demand for upgraded airport infrastructure [12] - The energy vertical faced revenue decline in 2024, but remains competitive [12] Market Data and Key Metrics Changes - North America accounted for 40.2% of Q4 2024 revenue, up from 36% in the previous year, while EMEA increased to 46% from 36% [18] - For the full year 2024, North America maintained a 40.5% share, while EMEA decreased to 30.6% from 35% [22] Company Strategy and Development Direction - The company is focused on business development to expand global market share across key verticals, with a growing share of sales driven by new customers [14] - Investments in key territories have resulted in double-digit growth in the USA and EMEA markets [16] - The strategy includes optimizing the cost structure and streamlining operations, which has led to a 5% decline in operating expenses for 2024 [8][22] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the structural growth in security needs for critical infrastructure, indicating a positive trend for the future [28] - The company is not providing specific forward-looking statements but remains committed to maintaining growth trends [30] - Management highlighted the importance of securing targeted verticals against rising insecurity worldwide [33] Other Important Information - The company reported a cash balance of $20,600,000 with no debt as of December 31, 2024 [24] - Operating expenses for Q4 2024 were $5,100,000, up 7% from the previous year, primarily due to headcount investments [19] Q&A Session Summary Question: What growth drivers for 2024 look positive for 2025? - Management refrained from providing forward-looking statements but noted structural growth trends in security needs [28] Question: Is there any region that you're more encouraged about? - Management expressed satisfaction with growth in North America, EMEA, and APAC, hoping to maintain this growth [29] Question: Can you comment on future optimism? - Management reiterated that they are not providing forward-looking statements but will continue efforts to maintain current growth trends [30] Question: Are there new opportunities in the United States that could be a future pipeline? - Management acknowledged the high demand for security but did not link it to political issues, focusing instead on securing targeted verticals [33]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 increased by 14.5% to $10,200,000 compared to $8,900,000 in Q4 2023 [19] - Gross margin improved to 64.5%, up from 56.6% in the same quarter last year, driven by product mix and price increases [21] - EBITDA for Q4 2024 reached $1,600,000 compared to $450,000 in Q4 2023 [22] - For the full year 2024, total revenue was $35,800,000, a 9% increase from $32,800,000 in 2023 [23] - Net income for 2024 was $2,600,000, compared to a net loss of $1,300,000 in 2023 [26] Business Line Data and Key Metrics Changes - Significant growth was reported in utility sales, particularly in data centers across all regions [20] - The corrections vertical saw important wins, driven by demand for advanced security technologies [11] - The transport sector experienced major wins in Q4 2024, particularly in airport infrastructure [13] - The energy vertical faced revenue decline in 2024, but remains competitive [14] Market Data and Key Metrics Changes - North America accounted for 40.2% of revenue in Q4 2024, up from 36% in the previous year [20] - EMEA's revenue share increased to 46% from 36% year-over-year [20] - APAC's revenue share decreased to 11% from 14% [20] - For the full year 2024, North America maintained a 40.5% revenue share, while EMEA's share decreased to 30.6% from 35% [24] Company Strategy and Development Direction - The company focuses on business development to expand global market share across key verticals [15] - Investments in key territories have resulted in double-digit growth in the USA and EMEA markets [17] - The strategy includes leveraging AI and advanced perimeter solutions to address modern security needs [11][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the structural growth in security needs for critical infrastructure [31] - The company aims to maintain growth across North America, EMEA, and APAC regions [32] - Management refrained from providing specific forward-looking statements but emphasized ongoing efforts to sustain growth [33] Other Important Information - Operating expenses for Q4 2024 were $5,100,000, up 7% from $4,800,000 in the prior year [21] - The company reported a cash balance of $20,600,000 with no debt as of December 31, 2024 [27] Q&A Session Summary Question: What growth drivers for 2024 look positive for 2025? - Management did not provide specific forward-looking statements but noted a positive trend in security needs [31] Question: Is there any region that you're more encouraged about? - Management expressed satisfaction with growth in North America, EMEA, and APAC [32] Question: Can you comment on future optimism? - Management reiterated that they are not providing forward-looking statements but will strive to maintain current growth trends [33] Question: Are there new opportunities in the United States? - Management acknowledged the high demand for security but did not link it to political issues [36]