Daniel Chism

“Before reviewing the financial performance, I want to highlight a change in the presentation and the results beginning in the second quarter. In May, we began using our previous integration facility in Round Rock, Texas, to provide warehousing and logistics services to our largest customer, as Darrell mentioned.”

“Consolidated total revenue in the first quarter was $55.3 million, down from $99 million in the year-ago quarter. The decrease was driven primarily by the lower level of procurement services activities, with systems integration revenues up 88% and facilities management revenues in line with the prior year.”

“I'll start with a look at the income statement for the quarter and year-to-date period, then provide some brief thoughts on the balance sheet and liquidity. Consolidated total revenue in the third quarter of '25 was $41.9 million, down from $70.1 million in the same period last year.”

“Consolidated total revenue increased by 262% in the second quarter of 2025 to $44 million, up from $12.2 million in the second quarter of 2024. As Darryll mentioned, the increase was driven by significant year-over-year growth in our two largest service lines, procurement and systems integration.”

“I would add, Darryll, to your point about the DLC becoming more and more important and more prevalent is as we built up the new factory, we knew that was where the technology was heading, and we've built out multiple times the capacity to do DLC as well as doing air-cooled in that facility.”