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SEC filingRevenue grew 12% on higher volume, but gross margin turned deeply negative as cost pressures and pricing declines overwhelmed topline gains, deepening operating losses.
Revenue for the first quarter of 2026 was $125.1 million, an increase of 11.9% compared to $111.8 million in the same period last year. The growth was primarily driven by higher sales volume, reflecting improved demand. However, pricing remained under pressure due to persistent competitive dynamics across most commercial regions, partially offset by favorable product mix, particularly in the United States.
Forward-looking statements regarding sales volume growth and pricing actions are subject to risks and uncertainties. The company continues to monitor market conditions and adjust its strategy accordingly.