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Wi2Wi Corporation Announces Second Quarter 2025 Financial Results
TORONTO, ON / ACCESS Newswire / August 15, 2025 / Wi2Wi Corporation (TSXV:YTY)(OTC PINK:ISEYF)...
About this update from Wi2wi Corp.
[{"type":"text","content":"Wi2Wi Corporation Announces Second Quarter 2025 Financial ResultsTORONTO, 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 2024Net 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: $234,000Net cash used in operations of : $113,000Working capital of: $2.53 millionCEO CommentaryTed 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...