Wi2Wi Corporation Announces First Quarter 2025 Financial Results (Unaudited)

TORONTO, ON / ACCESS Newswire / May 16, 2025 / Wi2Wi Corporation (TSX-V:YTY)(OTC PINK:ISEYF) a leader in precision timing devices, frequency control products, and wireless technologies, today announced its financial results for the first quarter ended March 31, 2025.

First Quarter Financial Highlights (Reported in $USD)

• Revenue of $1.55 million, representing a 3% increase compared to $1.50 million in the same period of Fiscal 2024.

• Gross profit of $172,000 (11% margin), up from $151,000 (10% margin) in the same period of Fiscal 2024.

• Net loss of $417,000, compared to a net loss of $362,000 in the same period of Fiscal 2024.

• Cash on hand as of March 31, 2025: $422,000

• Net cash used in operations of: $542,000

• Working capital of: $3.13 million

CEO Commentary

Ted Clark, CEO stated, "Revenue and gross margin show modest improvements as we continue to work toward a full resolution of the inventory issue that carried into this period. Our focus remains on operational execution, product quality, and supporting key customers in our core frequency control business. We are continuing to align our resources with our Precision Devices frequency control business, which we believe will position us to continue to capture long-term opportunities in aerospace, industrial, and defense markets."

First Quarter Operational Highlights

• During the period, the Company completed a strategic reallocation of resources, eliminating further investment and commercial activity in its wireless connectivity division to fully concentrate on its core frequency control business under the Precision Devices ("PDI") brand.

• During the period, the Company identified a quality issue in a recent shipment related to a specific component ordered by a major customer. The issue was promptly investigated and traced to a single account, with corrective action taken immediately. Following resolution, the customer placed a follow-on order valued at approximately $500,000 for the same component. This development reflects the Company's strong customer relationships and its responsiveness in addressing quality. concerns.