Revenue

Q3 2025

no prior guidance [N/A]

$91 million – $94 million, 13% quarter‐over‐quarter increase at midpoint "

no prior guidance

Adjusted EBITDA

Q3 2025

no prior guidance [N/A]

$15.6 million – $17.1 million "

no prior guidance

Non-GAAP Net Income

Q3 2025

no prior guidance [N/A]

$14 million – $15.5 million "

no prior guidance

Non-GAAP Fully Diluted EPS

Q3 2025

no prior guidance [N/A]

$0.47 – $0.51 "

no prior guidance

M800 Product Ramp

In Q1 2025, executives emphasized the ramp and its potential 300‑basis point gross margin benefit. " " In Q4 2024, the lower-priced M800 was noted for its ramp impact on ASPs and gross margins. " " In Q3 2024, its healthy ramp and contribution to margin accretion were highlighted. " "

The Q2 2025 call noted that the M800 product continues to ramp, is on track to become the volume runner during 2025, and is contributing to higher gross margins. " "

Consistent growth with an increasingly positive impact on gross margins as the ramp progresses. " "

Gen2X Technology Integration

Q1 2025 highlighted Gen2X as a game changer, natively integrated in M800 ICs to boost overhead coverage. " " Q4 2024 described Gen2X’s December launch as a bell‑weather event with broad ecosystem uptake. " No commentary was provided in Q3 2024.

Q2 2025 reinforced that Gen2X technology improves readability, drives enterprise solutions, and creates a “virtuous cycle” for M800 demand. " " "

Continued strong emphasis and deeper integration as a key enterprise differentiator. " "

Robust Enterprise Pipeline

Q3 2024 and Q4 2024 both stressed a strong and expanding enterprise pipeline driving recurring revenue. " " Q1 2025 touched on robust enterprise engagement and ongoing direct deals. " "

In Q2 2025, multiple enterprise wins were discussed with a focus on recurring endpoint IC revenue from key accounts. " " "

Steady and robust focus, with increasing detail on enterprise wins and recurring revenue drivers. " "

Supply Chain & Channel Inventory Uncertainties

Q1 2025 discussed tariff‑induced geographic shifts, strategic inventory builds, and timing effects. " " " Q4 2024 noted excess channel inventory and sourcing delays. " " Q3 2024 did not mention these issues.

Q2 2025 highlighted adjustments in delivery timing and a modest channel inventory build that surprisingly declined, with partners optimizing geographic production. " "

Persistent uncertainties managed through strategic adjustments, with a stable outlook. " "

Margin Dynamics Balancing Cost Reductions with Inventory/Product Mix Pressures

Q1 2025 noted slightly lower margins due to a lower systems revenue mix. " " Q4 2024 showed improved margins driven by a richer product mix and cost benefits from lower‑cost wafers. " " " Q3 2024 discussed sequential margin improvement through product mix adjustments. " "

Q2 2025 reported improved gross margins (60.4% vs. 52.7% in Q1) driven by increased licensing revenue, higher M800 mix, and benefits from lower-cost wafers. " "

Ongoing improvements through strategic cost reductions and product mix adjustments. " "

Expansion into High‑Growth Verticals

Q1 2025 explained that food volumes were expected later (2026/2027), while logistics and retail apparel were already showing steady activity. " " Q4 2024 highlighted considerable opportunity in item‑level food tagging, logistics wins, and strong retail apparel engagements. " " " Q3 2024 discussed food, logistics, and retail apparel expansion with specific examples. " "

Q2 2025 emphasized further expansion into food freshness at pallet and case levels, robust logistics wins with a major North American customer, and continued innovation in retail apparel through overhead reading and loss analytics. " " "

Ongoing expansion with food remaining a long‑term play, while logistics and retail opportunities are executing strongly. " "

Diminishing Focus on Tariff & Geopolitical Risks

Q1 2025 underscored active management of tariff impacts through geographic shifts and strategic investments. " " " Q4 2024 focused on sourcing uncertainty and delayed orders from tariff‑related pressures. " " Q3 2024 did not mention these risks.

Q2 2025 did not mention any diminishing focus; instead, adjustments in supply chain strategies and healthy channel inventory levels indicate continued attention to these challenges. " " "

Sustained focus with ongoing management of risks rather than a reduced emphasis. " "

Aggressive Price Competition

Q4 2024 discussed aggressive label price shopping leading to delayed orders and potential margin pressure. " " Q1 2025 and Q3 2024 did not cover this topic.

Q2 2025 did not mention aggressive price competition or its associated order delays and margin pressures.

Dropped from current period discussions, indicating a possible de‐emphasis. " "

Innovative Retail & Consumer Technology Initiatives

Q1 2025 discussed initiatives in loss prevention and overhead reading with examples boosting reader deployments. " " " Q4 2024 reviewed self‑checkout, loss prevention, and overhead reading initiatives with strong pilot programs. " " " Q3 2024 also covered these initiatives in connection with enterprise solutions. " " "

Q2 2025 reiterated the deployment of loss prevention analytics, overhead reading achievements through significant retail wins, and self‑checkout initiatives fueling reader and endpoint IC revenue. " " "

Consistent focus on innovation with a steady commitment to advancing retail and consumer technology initiatives. " "

Delayed Adoption of Authentication Solutions / Slow RAIN RFID Integration

Q3 2024 uniquely discussed slower-than-expected adoption of authentication solutions and delays in RAIN RFID integration into mobile devices, citing ecosystem readiness issues. " " "

Q2 2025 did not mention authentication solutions or mobile RAIN RFID integration.

Topic no longer mentioned in the current period, suggesting it may have been deprioritized. " "