GUER — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• ● Revenue for the first quarter of fiscal 2026 increased approximately 48% as compared to the first quarter of fiscal 2025, from approximately $4.4 million to $6.5 million. The increase was primarily driven by continued strength in the Company’s core product shipments, reflecting ongoing demand acro…

• ● Gross margin for the first quarter of fiscal 2026 was approximately 69.9% of revenues, as compared to 61.1% in the prior year period. The improvement in gross margin was primarily driven by higher production volumes, improved manufacturing efficiencies, and favorable product mix. Contribution marg…

• ● Operating loss was approximately $0.04 million for the first quarter of fiscal 2026, as compared to an operating loss of $3.16 million in the first quarter of fiscal 2025, bringing the Company near operating breakeven. The substantial reduction in operating loss was primarily driven by the increas…

• ● Net income for the first quarter of fiscal 2026 was approximately $1.1 million, compared to a net loss of $3.5 million in the prior-year period. The year-over-year improvement reflects stronger operating performance, as well as the impact of certain non-cash and non-operating items, including appr…

• Change in fair value of warrant liabilities is fully attributable to the revaluation of the warrants.

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• ● Revenue for the third quarter of fiscal 2025 increased 39% as compared to the third quarter of fiscal 2024, from $4.5 million to $6.3 million. In the third quarter of 2025, our automotive and catalog categories grew at 130% and 50% respectively, more than offsetting a 62% decrease in our wireless …

• ● Gross profit for the third quarter of fiscal 2025 was 67.5% of revenues as compared to 65.3% for the third quarter of fiscal 2024. The Company's contribution margin of 76.7% decreased from 77.2% in the third quarter of fiscal 2024 as a direct result of a larger mix shift into our automotive catego…

• ● Operating loss was $0.2 million for the third quarter of 2025, as compared to $2.6 million for the third quarter of 2024. This decrease in operating loss was primarily due to an increase in revenue and a reduction in operating expenses. Operating expenses decreased 20.0% primarily due to reduction…

• ● The Company generated positive operating cash flow of $0.8 million in the third quarter, compared to average negative operating cash flow of $1.7 million in the first two quarters of 2025. Net cash used in operating activities declined to $2.5 million for the nine months ended September 30, 2025, …

• Revenues increased $1.8 million to $6.3 million for the three months ended September 30, 2025, compared to $4.5 million for the three months ended September 30, 2024. The revenue increase was attributable to growth in our automotive category of $1.4 million, or 130%, to $2.4 million, and our catalog…

Text added vs the prior filing · source: 10-Q · 2026-05-13

• Based on this evaluation, management concluded that our disclosure controls and procedures were effective as of March 31, 2026.

• During the quarter ended March 31, 2026, there have been no changes in our internal control over financial reporting as such term is defined in Rule 13a-15(f) and 15(d)-15(f) promulgated under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our interna…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• Based on this evaluation, as a result of the material weakness in internal controls over financial reporting disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024, management concluded that our disclosure controls and procedures were not effective as of September 30, 2025.…

• Status of Remediation of Previously Identified Material Weaknesses in Internal Control Over Financial Reporting

• A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the registrant’s annual or interim financial statements will not be prevented or detected on a timely basis.

• To respond to the material weakness disclosed within our Annual Report on Form 10-K for the year ended December 31, 2024, we have devoted, and plan to continue to devote, significant effort and resources to the remediation and improvement of our internal control over financial reporting. Our remedia…

• Hiring of Mike John-Williams as Chief Financial Officer effective January 8, 2025;