C-COM Reports First Quarter 2025 Results
Rhea-AI Summary
C-COM Satellite Systems (TSXV: CMI, OTCQB: CYSNF) has released its Q1 2025 financial results. The company reported revenues of $0.7 million, matching Q1 2023 but significantly lower than Q1 2024's $2.6 million. Gross margins dropped to 44% due to a $0.1 million obsolete inventory write-off, though adjusted margins would have been 62%.
The company recorded a net loss of $0.5 million despite well-controlled expenses, with negative operating cash flow of $0.4 million. Management maintains confidence in their strong balance sheet to navigate through current global trade challenges while continuing development of their ESA antennas and Beamformer integrated circuit chips.
Positive
- Strong balance sheet position maintained
- Adjusted gross margins of 62% (excluding inventory write-off)
- Well-controlled operating expenses
Negative
- Revenue declined 73% YoY from $2.6M to $0.7M in Q1 2025
- Net loss of $0.5M in Q1 2025
- Negative operating cash flow of $0.4M
- Gross margins dropped to 44% due to $0.1M inventory write-off
News Market Reaction – CYSNF
On the day this news was published, CYSNF declined 4.56%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ottawa, Ontario--(Newsfile Corp. - April 15, 2025) - C-COM Satellite Systems Inc. (TSXV: CMI) (OTCQB: CYSNF) a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced today its financial results for its first quarter of its 2025 fiscal year.
The Company's Q1 2025 revenues were consistent with the Company's seasonal history of typically low sales during the first quarter as compared to latter quarters during the year. This year's revenues of
C-COM experienced unusually low gross margins of
Though expenses were well controlled during Q1, a net loss of
"C-COM's healthy balance sheet will permit us to weather the turmoil caused by the recent outbreak of a global trade "war". said Dr. Leslie Klein, President and CEO of C-COM Satellite Systems Inc.
Klein added, "These headwinds will not deter us from continuing to focus on the completion of the development of our revolutionary ESA antennas and Beamformer integrated circuit chips."
"We remain on track to achieve several key milestones over the course of this year to move these new products to commercialization", concluded Dr. Klein.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is a pioneer and a leading global designer, developer, and manufacturer of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 11,000 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil and Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company's iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in final stages of satellite testing and manufacturing of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. C-COM has developed this unique multi-orbit antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals over LEO, MEO and GEO satellite constellations. Another significant project underway at C-COM is the development of an Analog Beamforming Integrated Circuit, which is progressing well and is expected to enter testing phase by the middle of this year. These BFICs will be used in the manufacturing of all our ESA antennas with the intent to significantly reduce their cost and improve their performance.
For additional information please visit www.c-comsat.com
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
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INVESTOR RELATIONS
C-COM Satellite Systems Inc.
Tel: (613) 745-4110 ext. 4950
Fax: (613) 745-7144
lklein@c-comsat.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Statements about C-COM's expectations for future results, its intention to continue testing and launch a compact 1K element ESA system followed by the launch of a more robust 4K ESA, its primary focus over the next couple years and the expectation that investment in R&D will generate returns to the company all contain forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Product testing may be delayed, may not have positive results or may result in necessary changes to the product design. Product development and launch may be postponed, delayed or, in the worst case, cancelled for many reasons outside C-COM's control, anticipated benefits of the new technology may not be realized, new products and services may not be released or, if released may not gain market acceptance and factors outside of C-COM's control may cause it to focus of its efforts and investments differently than described above. Any of those events and others could influence future performance and C-COM Satellite Systems Inc.'s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company's most recent MD&A available at www.sedarplus.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248476
FAQ
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