TORONTO, ON / ACCESS Newswire / August 15, 2025 / Wi2Wi Corporation (TSXV:YTY)(OTC PINK:ISEYF) a leader in precision timing devices, frequency control products, and wireless technologies, today announced its financial results for the second quarter ended June 30, 2025.
Second Quarter Financial Highlights (Reported in $USD)
Revenue of $1.46 million, representing a 13% decrease compared to $1.68 million in the same period of Fiscal 2024.
Gross profit of negative $73,000 down from $266,000 (16% margin) in the same period of Fiscal 2024.
EBITDA loss of $442,008 compared to an EBITDA loss of $76,206 in the same period of Fiscal 2024
Net loss of $653,000, compared to a net loss of $286,000 in the same period of Fiscal 2024.
Cash on hand as of June 30, 2025: $234,000
Net cash used in operations of: $113,000
Working capital of: $2.53 million
CEO Commentary
Ted Clark, CEO stated, "Second quarter results were impacted by a one-time quality control issue with a key customer shipment, which reduced margins and resulted in negative gross profit. The matter has been fully resolved, and enhanced quality controls are now in place. Also impacting second quarter gross profit was the timing of tariff charges for inventory received which won't be recovered until billing to the customer. Looking forward we see stronger demand, driven by on-shoring initiatives and increased defense spending from key customers."
Subsequent to quarter-end, a major shareholder demonstrated strong confidence in Wi2Wi's strategy and future potential by providing additional financial support. These funds will strengthen working capital and bolster inventory levels, enabling the Company to advance with a clear focus on execution and growth in its core avionics, industrial, and defense markets. Alongside this, Wi2Wi has expanded its sales team to enhance outreach and build new partnerships. Management expects these actions to drive significant increases in sales activity and partnership opportunities in the second half of the year.
Second Quarter 2025 Financial Overview (unaudited)
(In thousands of U.S. dollars) |
| Quarter 2, 2025 |
|
| Quarter 2, 2024 |
| ||
Revenue |
| $ | 1,465 |
|
| $ | 1,685 |
|
Net income |
|
| (653 | ) |
|
| (286 | ) |
Net cash provided by (used in) operations |
|
| (113 | ) |
|
| 190 |
|
Total assets |
|
| 8,699 |
|
|
| 6,531 |
|
Cash on hand |
|
| 234 |
|
|
| 712 |
|
Total current liabilities |
|
| 1,358 |
|
|
| 1,279 |
|
Shareholders' equity |
|
| 2,667 |
|
|
| 3,349 |
|
Detailed and historical financial information is available here.
About Wi2Wi Corporation
Wi2Wi is a specialized electronic component supplier with expertise in all aspects of frequency control components. Wi2Wi's Precision Devices brand of products has earned a premier spot in numerous key markets including avionics, aerospace, industrial equipment, government, and the US military. Wi2Wi's frequency control products are best-in-class and of the highest quality.
Founded in 2005, Wi2Wi's headquarters, design center and state-of-the-art manufacturing facility are located in the heart of America's industrial belt in Middleton, WI. Wi2Wi can deliver specific solutions using its in-house design and manufacturing expertise, as well as leveraging many tier-1 global partnerships with numerous industry leading silicon suppliers.
Wi2Wi has partnered with best-in-class sales leaders. The company uses a global network of manufacturer's representatives to promote its products and services, and has partnered with world class distributors for the fulfillment of orders all of which augment a US-based direct sales team.
Wi2Wi is extremely proud to serve many of the world's top companies with its made-in-America products.
Investor & Media Contact
Ted Clark, Chief Executive Officer
+1-469-545-3423
ted_c@wi2wi.com
Forward-Looking Statements: This news release contains certain forward-looking statements, including management's assessment of future plans and operations, and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with the ability to access sufficient capital, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, stock market volatility. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive there from. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward- looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Wi2Wi Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/publishing-and-media/wi2wi-corporation-announces-second-quarter-2025-financial-results-1060980
