0001628280-26-028666
SEC filingRevenue grew 11% to $101.2M, driven by automation equipment sales, with improved operating leverage and positive operating cash flow, though net loss persists.
Revenue for the first quarter of 2026 was $101.2 million, an increase of 11.0% compared to $91.2 million in the prior-year quarter. The growth was primarily driven by an increase in automation equipment sales, which contributed to a 7.9% favorable volume/mix change. This dynamic reflects continued customer adoption of our automated packaging solutions, particularly in North America.
Net cash provided by operating activities was $4.4 million in the first quarter of 2026, compared to -$1.3 million in the prior-year period. The improvement was driven by better working capital management and reduced operating losses. The company continues to evaluate inventory requirements and adjust according to volume forecasts.
While segment-level data is not separately disclosed, the business context indicates that Europe/Asia revenue grew, benefiting from foreign exchange tailwinds and automation sales. The overall revenue growth was broad-based, with automation equipment sales being a key driver.