revenue $312.2M, net income $24.3M. Revenue +7.4% on tariff refund; operating income +300%; headcount down 4.5%

Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

• high

  $14.5M IEEPA tariff refund received in Q2 2026, recorded primarily as a reduction to cost of product revenues, boosting gross margin from 44% to 49% year-over-year.

  MD&A: IEEPA tariff refund verify on EDGAR →
• high

  Operating income rose from $8.1M to $32.4M (+300% YoY) while revenue grew 7.4% ($312.2M → $312.2M), driven by the tariff refund, scale efficiencies, and favorable product/customer mix.

  MD&A: Operating results verify on EDGAR →
• high

  Tariff regime transitioned from Section 122 (10%, expired July 24, 2026) to Section 301 (10-12.5%, effective July 24, 2026); company states no material impact expected from recent tariff changes.

  MD&A: Tariff regime transition verify on EDGAR →