The stock rose modestly by 0.7% after reporting first quarter revenue growth driven by increased product sales, while gross margin compression and a cautious outlook on margin improvement kept gains in check.

• Total revenue increased 45% year-over-year to $1.1 million, lifted by a 186% increase in product sales to $0.9 million.
• Technology-enabled services revenue declined to $0.2 million from $0.5 million a year ago, due to the wind down of advisory services offset by subscription growth.
• Gross margin contracted to 62% from 78% last year, reflecting a higher mix of lower-margin hardware sales.
• Operating expenses rose to $5.5 million from $4.5 million, driven by higher share-based compensation and investments in sales expansion.
• Cash used in operations improved 59% to $1.2 million, indicating tighter cost control amid ongoing growth investments.