Revenue grew 49% year-over-year to $48.6 million.
Gross margin increased to 43% from 41% in the prior year period.
Completed the acquisition of Stereolabs to expand into AI vision and perception.
Continued to report a significant net loss of $17.5 million.
The Q1 2026 filing reveals a company at a crossroads between rapid commercial scaling and persistent financial instability. On one hand, the 49% revenue jump and the strategic pivot toward a 'Physical AI' platform via the Stereolabs acquisition suggest a business that is successfully expanding its technological footprint. The introduction of the Rev8 family indicates a commitment to product leadership and functional safety, which are critical for high-value industrial and automotive contracts. However, the financial data highlights a precarious bridge to profitability. While gross margins are improving, the company remains cash-flow negative, and the balance sheet is now burdened with significant intangible assets from the Stereolabs deal. Investors are essentially betting on whether the increased sensor volumes and software-attached revenue can outpace the inherent costs of a capital-intensive hardware business and the risks associated with high customer concentration. The overall impact of the filing is a mixed signal: strong top-line momentum tempered by a continuing need for disciplined burn management.