Vislink Technologies (VISL) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue rose 56% year-over-year to $5.3 million, with gross margin recovering to 49% from negative 173% in Q4 2024.

• Full-year 2025 revenue declined 33% to $18.4 million, but gross margin expanded to 55% from 25% despite lower revenue.

• Operating expenses were reduced by 29% year-over-year, and EBITDA loss for the year was $8.5 million.

• Strategic focus shifted toward military/government markets, now over 25% of revenue, with expectations to exceed 50% in 2026.

• New product launches and marquee event deployments drove commercial momentum.

Financial highlights

• Q4 revenue: $5.3 million, up 56% year-over-year and 37% sequentially.

• Full-year revenue: $18.4 million, down 33% from 2024.

• Q4 gross margin: 49%, up from negative 173% in Q4 2024.

• Full-year gross margin: 55%, up from 25% in 2024, achieved on $6.2 million less revenue.

• Year-end cash balance: $4.2 million.

Outlook and guidance

• Entered Q1 2026 with strong backlog and improving momentum; January 2026 revenue was $2.1 million with EBITDA of $0.3 million.

• Management expects MilGov to exceed 50% of revenue in 2026 and operating expenses to continue declining.

• New product launches expected to drive incremental growth in both commercial and defense markets.