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Vislink Technologies, Inc (NASDAQ: VISL) reported fourth-quarter fiscal 2023 revenue of $8.1 million, up from $7.4 million year over year.
EPS loss of $(0.99) compared to $(2.36) in the prior year period.
Gross margin rose to 46%, up from 33% in the prior year. The improvement in gross margin was due to the greater contribution of MilGov revenue and software and services to total revenue.
Vislink held $14.2 million in cash and equivalents as of December 31, 2023.
“2023 marked a pivotal year for Vislink, as we laid the groundwork for accelerated revenue growth and cash flow neutrality in 2024,” said Vislink CEO Mickey Miller.
“Our accelerated MilGov sales, combined with increasing software and services sales and operating leverage, are expected to drive robust growth, aiming to be cash flow positive in 2025.”
The stock lost 50% in the last 12 months. Investors can gain exposure to the stock via Vanguard Extended Market ETF (NYSE:VXF) and Vanguard Total Stock Market ETF (NYSE:VTI).
Price Action: VISL shares traded higher by 5.8% at $3.45 on the last check Monday.
