
Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $6.3 million, a 25.2% increase from $5.1 million in Q2 2023, and up 28.9% compared to Q1 2024 [3][6] - Year-to-date revenue was $11.3 million, which is 18.1% lower than the prior year period [3] - Gross profit for Q2 2024 was $1.6 million with a gross profit margin of 25.4%, compared to $1.4 million and a margin of 27.4% in Q2 2023 [8] - Operating loss for Q2 2024 was $0.9 million, an improvement from a loss of $1.2 million in Q2 2023 [9] - Net loss for Q2 2024 was $761,000 or $0.11 per share, compared to a net loss of $1.1 million or $0.16 per share in Q2 2023 [9] Business Line Data and Key Metrics Changes - CVD Equipment segment revenue increased by $1 million, while SDC segment revenue rose by $0.5 million, offset by a $0.3 million decrease in CVD Materials segment revenue due to the exit of certain businesses [6][8] - SDC segment revenues were 29% higher than Q2 2023 and 20% higher than Q1 2024, driven by strong demand for gas delivery systems [8] Market Data and Key Metrics Changes - Backlog at the end of June 2024 was $24 million, significantly higher than the year-end backlog of $18.4 million [4] - Orders for Q2 2024 were $3.2 million, primarily driven by demand in the SDC segment [4] Company Strategy and Development Direction - The company aims to build critical customer relationships, achieve profitability, and manage costs and cash flow while focusing on growth and return on investment [5] - The management acknowledges disappointment in operating performance due to fluctuating order and revenue levels [5] Management Comments on Operating Environment and Future Outlook - Management highlighted the need to mitigate inflationary pressures and manage capital expenditures and operating expenses to return to profitability [10] - The company believes its cash and cash equivalents will be sufficient to meet working capital and capital expenditure requirements for the next 12 months [11] Other Important Information - The company shipped its newly launched PVT200 system, which is part of a strategic order for silicon carbide crystal boule growth [3] Q&A Session Summary - The call concluded without specific questions being recorded, indicating a focus on the presentation and management's comments rather than a detailed Q&A session [12]