RE:WowDisappointing.
"In this regard, our continued growth in annual revenue and profitability is especially noteworthy considering the exceptional fourth quarter we had in the prior year, which included revenue from a number of exceptionally large GEM orders, including $1.9 million from two major customers alone.
Despite the lower GEM sales this quarter, our GEM sales for the year were still the highest ever and we also had significant growth across our business."
"We reinvested more than $1.5 million in the future growth of the business in fiscal 2024, including adding 9 net new team members, moving to a new UK facility and more than doubling the throughput capacity, and developing a proprietary mobile app to help us more quickly and efficiently identify energy-saving and carbon-reduction project opportunities. While these investments have yet to impact top-line growth, they better position us to capitalize on the strong momentum in the marketplace demonstrated by the growth in order intake and order backlog, as well as the increased interest in project development agreements from our customers."
Seems like we added production capacity for GEM traps in anticipation of a sales surge that hasn't come.