Financial Data and Key Metrics Changes - Total net revenue for Q2 2025 was $2.2 million, down from $3.9 million in the prior quarter and $4.2 million in Q2 2024 [20] - Product revenue in Q2 2025 was $2.2 million, compared to $3.8 million in the prior quarter and $4.1 million in Q2 2024 [20] - GAAP gross margin decreased to 48.3% in Q2 2025 from 69.3% in the prior quarter and 55.5% in the year-ago quarter [22] - GAAP operating expenses for Q2 2025 were $2.9 million, down from $3.2 million in the prior quarter and $6.8 million in Q2 2024 [22] - GAAP net loss for Q2 2025 was $1.8 million, or a loss of $0.31 per share, compared to a net loss of $0.5 million or a loss of $0.08 per share in the prior quarter [23] Business Line Data and Key Metrics Changes - Revenue from millimeter wave products was $2.2 million in Q2 2025, up from $1.5 million in the prior quarter and $0.7 million in Q2 2024, indicating a significant growth trajectory [22] - The company achieved over 2 million cumulative shipments of mmWave devices, highlighting its market leadership [6] Market Data and Key Metrics Changes - Fixed wireless access continues to be the largest and fastest-growing market opportunity for mmWave technology, driven by demand for high-speed broadband connectivity [8] - The company has seen a steady recovery in market demand and customer orders for fixed wireless access solutions throughout the first half of the year [8] Company Strategy and Development Direction - The company is focused on expanding its market presence in tactical communications and military defense applications, leveraging its mmWave technology [10] - The company aims to convert successful proof of concepts into initial production orders to sustain future growth [10][19] - The company is exploring potential strategic alternatives, including mergers or asset sales, to enhance its financial position [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growing demand for mmWave technology and its ability to address critical communication challenges in tactical defense environments [10] - The company anticipates record quarterly revenue contribution from mmWave products in Q3 2025, supported by a healthy backlog [26] Other Important Information - The company had approximately $1.8 million in cash and equivalents as of June 30, 2025, with a net change of approximately $1 million during the quarter [24] - The company is actively pursuing non-dilutive financing opportunities to strengthen its balance sheet [39] Q&A Session Summary Question: Can you provide more details on the military engagements and drone opportunities? - Management highlighted stealth communication capabilities as a key advantage in military applications, with ongoing engagements to adapt technology for drone use [32] Question: Can you confirm the legitimacy of the acquisition proposal and provide updates on the business outlook? - Management confirmed the validity of the proposal and indicated ongoing efforts to explore various capital-raising opportunities [39] Question: How is inventory trending, and have you burned through previous inventory issues? - Management noted improvements in inventory movement, with significant orders being filled and replenishment of certain products underway [41] Question: Are there opportunities for non-recurring engineering (NRE) work with the military? - Management confirmed that NRE is part of their strategy, with ongoing projects expected to lead to production and additional revenue [44][63]