Home / Business and Economy / Record Revenue Soars: Company Achieves $24M in Q3
Record Revenue Soars: Company Achieves $24M in Q3
15 Sep
Summary
- Q3 revenue reached a record $24 million, a 21% year-over-year increase.
- Gross profit surged 27% to $8.5 million, with margins improving.
- Operating income saw a substantial rise to $1.8 million from $720,000.
The company announced record-breaking quarterly revenue of $24 million, a substantial 21% increase compared to the previous year. This performance was bolstered by a 27% rise in gross profit, which reached $8.5 million, accompanied by an expansion in gross margin to 35.6%.
Operational efficiency was highlighted by a significant increase in operating income to $1.8 million, more than double the $720,000 reported in the prior year's quarter. Net income also saw a remarkable jump to $1.4 million, or $0.12 per diluted share.
Looking ahead, the company anticipates its fourth-quarter sales to remain steady or exceed the levels achieved in the third quarter. The company also reported a backlog of $18.6 million as of July 31, 2026, with a book-to-bill ratio of approximately 0.94 times in the third quarter.
