Vislink Technologies (VISL) Q2 2026 earnings summary

Executive summary

• Achieved second consecutive quarter of positive EBITDA, with Q2 non-GAAP EBITDA at $0.1 million versus a $1.9 million loss in Q2 2025.

• Q2 revenue rose 22.6% year-over-year to $5.9 million, and first-half revenue increased 19.6% to $11.3 million.

• Operating expenses declined 37.2% year-over-year in Q2, reflecting ongoing benefits from prior restructuring.

• Live Production and MilGov segments drove growth, with significant gains in both revenue streams.

• Continued expansion in U.S. defense pipeline and new partnerships in Europe.

Financial highlights

• Q2 2026 revenue: $5.9 million, up 22.6% year-over-year and 9.7% sequentially from Q1 2026.

• Q2 gross margin: 57.4%, down from 65.0% in Q1 2026 due to a shift toward lower-margin Live Production.

• Q2 non-GAAP EBITDA: $0.1 million; GAAP EBITDA: $43K; first-half EBITDA: $145K, a $4.7 million improvement year-over-year.

• Operating expenses in Q2: $3.6 million, down 37.2% year-over-year; G&A expenses down 37.9%.

• Cash balance at June 30, 2026: $2.8 million, down $1.4 million from year-end, mainly due to inventory build and receivables timing.

Outlook and guidance

• Expects orders for delayed U.S. State and Local projects as government shutdown effects subside.

• U.S. Federal/Department of War pipeline continues to advance, with new partnerships and prime engagements.

• European market development progressing, targeting definitive agreements in Q4 2026.

• Management anticipates further declines in operating expenses as AI initiatives and strategic transition mature.

• Focus remains on converting pipeline into revenue, sustaining EBITDA profitability, and prudent liquidity management.