Core Insights - D-BOX Technologies Inc. reported strong financial results for Q4 and fiscal year 2025, highlighting a robust royalty-driven model that has led to significant margin expansion and cash generation [3][4][5] Fiscal 2025 Highlights - For the full fiscal year 2025, D-BOX achieved record total revenues of $42.8 million, an increase of 8% compared to fiscal 2024 [5][8] - Royalties reached $11 million, representing a 26% share of the Company's revenue mix, and increased by 27% year-over-year [5][8] - Adjusted EBITDA totaled $7.3 million, reflecting an 18% margin, and net profit was $3.9 million, up 254% year-over-year [6][8] Fourth Quarter Highlights - In Q4 2025, total revenues were $8.6 million, down 15% year-over-year, primarily due to earlier-than-expected fulfillment of Theatrical system sales [4][8] - Royalties in Q4 increased by 5% to $2.2 million, supported by an expanded global footprint and successful Hollywood content [4][8] - Simulation training and Sim racing markets saw significant growth, with increases of 47% and 108% year-over-year, respectively [4][8] Leadership Transition - Naveen Prasad was appointed as Interim CEO effective June 10, 2025, following the departure of Sébastien Mailhot, who expressed pride in the Company's growth and profitability during his tenure [10] Balance Sheet and Liquidity - D-BOX closed fiscal 2025 with $7.3 million in operating cash flow, low-cost total debt of $1.2 million, and available liquidity of approximately $16 million [11]