Vislink Technologies Faces Q2 Revenue Decline, Implements 5% Price Increase To Drive Growth

Vislink Technologies, Inc (NASDAQ: VISL) reported second-quarter FY23 revenue of $5.04 million, down by 25.5% year over year, missing the consensus of $7.50 million.

EPS loss of $(1.27) missed the consensus of $(0.80).

Gross margin of 53% remained consistent with the prior year period.

EBITDA was $(3.1) million, compared to $(2.1) million in the prior year period.

Vislink held $11.0 million in cash and equivalents.

The company delivered seven AeroLink transmitters to law enforcement customers in Q2, bringing the total deliveries of the latest AVDS component to 12. 

"Building on our strategic shift towards the fast-growing public safety market, we achieved significant operational progress with a notable 91% year-over-year increase in our MilGov segment, totaling $1.2 million in Q2," said Vislink CEO Mickey Miller.

"We have also implemented a 5% price increase on all new orders. These focused measures, coupled with our drive to secure more predictable, recurring revenue from software and services, underscore our confidence in our ability to drive sustainable growth in the future."

Price Action: VISL shares traded lower by 5.09% at $5.01 premarket on the last check Friday.