The Orlando-based manufacturer of electronic components saw its adjusted EBITDA climb 40.6% to $3.4 million compared to the same period last year. This performance highlights the company's transition into a specialized radio-frequency supplier. However, the latest figures include approximately $1.0 million in non-cash, stock-based compensation related to accelerated 2025 bonus vesting, a charge management expects will not recur at similar levels.
Backlog growth remains a primary indicator of the company's health, surging 37.2% to $84.0 million. According to CEO Cameron Pforr, this expansion is supported by new program initiations and rising orders in avionics and space markets. As part of its long-term strategy, the firm also disclosed a minority investment in Skyline Instruments, LLC, a move aimed at enhancing synchronization technology for GPS-denied environments.
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