- Vislink Technologies (VISL, Financial) reported a modest increase in full-year revenue to $27.7 million for 2024, contrasted by a significant net loss of $20.5 million.
- Fourth-quarter revenue decreased sharply to $3.4 million, with a gross margin declining to -1%.
- Key initiatives include a restructuring plan expected to save $10 million and the launch of several new products aimed at enhancing the company's service-driven business model.
Vislink Technologies, Inc. (OTCQB: VISL), a leader in high-quality live video solutions, reported its financial results for the fourth quarter and the full year ending December 31, 2024. The company's full-year revenue saw a slight increase to $27.7 million from $27.5 million in 2023. However, the net loss widened to $20.5 million, or $8.35 per share, versus a $9.1 million loss the previous year.
For the fourth quarter of 2024, Vislink's revenue fell sharply to $3.4 million from $7.1 million in the preceding quarter, largely due to delayed project executions. The gross margin turned negative, dropping to -1% from 51% in the third quarter, primarily impacted by unabsorbed production overheads.
Despite these setbacks, the company achieved some significant milestones, including securing multimillion-dollar orders for airborne video systems and over $900,000 in recurring revenue through strategic Service Level Agreements. Additionally, Vislink initiated a restructuring plan expected to generate $10 million in cost savings and voluntarily delisted from Nasdaq to focus on reducing expenses.
The company introduced a range of new products such as the Aero5 5G HEVC 4K UHD Airborne Downlink System, DragonFly V 5G transmitter, and other innovative digital solutions, which are expected to drive future growth. Vislink also reported a cash position of $6.5 million as of December 31, 2024, down from $9.2 million at the end of the third quarter, reflecting the challenges faced in the live production business.
Moving forward, Vislink aims to strengthen its service-focused business model and expects to capitalize on opportunities in emerging technologies and global markets, supported by its revamped product lineup and strategic partnerships.
