Mt. Olive, NJ – May 15, 2026 – Vislink Technologies, Inc. (OTCID: VISL), a global leader in real-time video communications for the defense, public safety, and broadcast markets, today reported financial and operational results for the first quarter ended March 31, 2026.
Highlights:
- Company Achieves EBITDA Profitability, Delivering $0.2 Million Non-GAAP EBITDA Profit vs. ($2.2 Million) Loss in the Prior Year Quarter
- Military/Government Revenue Surges 159% Year-Over-Year, Driving Strategic Transformation
- Deployed $1.0 Million Receive Network with Large European Public Safety Organization
- Shipped $1.0 Million Aerial Video Downlink System to Key European Ministry of Defense
- Q1 Revenue of $5.4 Million Increases 17% Year-Over-Year and 2% Sequentially
- Gross Margin Expands to 65.0%, Driven by MilGov Mix Shift and Continued Cost Discipline
- Operating Expenses Decline 35% Year-Over-Year as Cost Discipline and AI Initiative Gain Traction
CEO Commentary
You can watch CEO Mickey Miller’s video summary below.
“Q1 2026 was a landmark quarter for Vislink,” said Mickey Miller, Chief Executive Officer. “For the first time in the Company’s recent history, we delivered EBITDA profitability – a non-GAAP EBITDA profit of $0.2 million versus a loss of $2.2 million in the same quarter last year. Revenue of $5.4 million increased 17% from the prior year period and 2% sequentially from Q4 2025, supported by strong order intake in Q4 that translated into healthy Q1 shipments. Gross margin of 65.0% expanded meaningfully from the prior year quarter, driven by a favorable mix shift toward Military/Government solutions and continued pricing discipline. Operating expenses declined 35% year-over-year as the full-year benefit of our restructuring actions took hold, and G&A costs fell more than $1 million from Q1 2025. These results reflect the disciplined execution of our transformation strategy and give us real confidence that the model is working.”
“The acceleration of our Military/Government business is particularly encouraging. MilGov revenue increased 159% year-over-year and 93% sequentially from Q4 2025, and shipments against established European Public Safety and Military of Defense contracts were key highlights in the quarter. On the U.S. Federal front, our dedicated business development initiative continues to build momentum – we have now submitted eight RFI responses year-to-date across priority defense and homeland security agencies. Our capabilities align well with important initiatives in the UAS, C-UAS, and 5G Department of War priorities. We are also making significant progress with our AI initiative, which is already targeting additional savings and is reshaping how we operate across sales, engineering, and customer service. We enter Q2 with solid operational momentum, and we remain focused on sustaining revenue growth, continuing to expand margins, and delivering long-term value for our shareholders.”
First Quarter 2026 and Recent Highlights
Financial Performance
- Q1 2026 revenue of $5.4 million increased 17% from Q1 2025 and 2% sequentially from Q4 2025.
- Q1 gross margin of 65.0%, driven by a favorable mix shift toward higher-margin MilGov solutions and a $0.2 million release of obsolete stock provision.
- Q1 non-GAAP EBITDA profit of $0.2 million marked the Company’s first quarter of EBITDA profitability, compared to a non-GAAP EBITDA loss of $2.2 million in Q1 2025; GAAP EBITDA profit was $0.1 million.
- Operating expenses of $3.6 million declined 35.1% year-over-year and 37.9% sequentially, with G&A expenses down more than $1.0 million from Q1 2025.
- Year-end cash balance of $3.7 million; cash outflow of $0.5 million in the quarter represented a significant improvement from prior periods, primarily reflecting improved trading results; cash is forecast to be neutral in Q2 2026.
Strategic Transformation and Market Development
- Military/Government revenue increased 158.9% year-over-year and 92.6% sequentially from Q4 2025, with MilGov contributing the majority of Q1 revenue and continuing to advance the Company’s strategic transformation.
- Successfully shipped against landmark MilGov contracts, including a large European Public Safety organization and a European Ministry of Defense order.
- U.S. Federal/Department of War business development initiative reached a total of eight opportunity responses year-to-date. Active engagement on multiple ISR opportunities.
- New federal channel partner program being established.
New Products and Commercial Wins
- Aero5 and Aero5 Antenna DO-160 qualification testing progressing; DO-160 qualification also underway, targeting aviation-certified system availability to address growing demand from OEMs and public safety customers.
- CLIQ2 and HCAM5 (GoalCam) on track for delivery; MeshConnect High Throughput and Return capabilities in development.
- New product development underway based on requirement discovery with US Department of War.
Marquee Events and Global Partnerships
- Continued to support the world’s most demanding live production environments, including Formula 1, MotoGP, the NFL, NHL, Premier League, the Academy Awards, the Emmys, and many others.
- Notable Q1 orders included $425,000 from a large US-based sports broadcaster and $432,000 from a European Horse Racing Event producer.
AI Initiative
- Formally launched a company-wide AI initiative targeting additional savings, reducing time to market, and improving quality and reliability.
Financial Discussion
Revenue
Revenue of $5.4 million in Q1 2026 increased 16.5% from Q1 2025 and 2.2% sequentially from Q4 2025. The improvement over the prior year was driven by a significant increase in MilGov revenue, which grew 158.9% year-over-year and 92.6% sequentially. Live Production revenue of $2.0 million declined 31.2% from Q1 2025 and 32.1% from Q4 2025, reflecting continued broad-based softness in the broadcast market driven by COFDM technology maturity headwinds and limited new product introductions.
Gross Margin
Gross margin of 65.0% expanded from the prior year quarter, reflecting a favorable product mix heavily weighted toward higher-margin MilGov solutions. Material margin reached 70.6% versus 64.3% in Q1 2025. Gross margin benefited from a $0.2 million release of fully provisioned obsolete stock that was sold during the quarter.
Operating Expenses and EBITDA
Operating expenses of $3.6 million declined 35.1% year-over-year and 37.9% from Q4 2025. G&A expenses fell more than $1.0 million from Q1 2025, reflecting the full-year impact of leadership restructuring, normalized legal expenses, reduced D&O insurance premiums, and lower audit fees.
The Company delivered a GAAP EBITDA profit of $0.1 million and a non-GAAP EBITDA profit of $0.2 million (excluding $0.1million of stock-based compensation), versus a non-GAAP EBITDA loss of $2.2 million in Q1 2025. This represents the Company’s first quarter of EBITDA profitability and reflects the combined impact of strong revenue delivery, favorable product mix, and sustained cost discipline.
Cash and Balance Sheet
The Company ended Q1 2026 with $3.7 million in cash, a decrease of $0.5 million from Q4 2025. The cash movement reflected a $0.8 million working capital outflow driven by delayed customer receipts, partially offset by $0.6 million of positive cash contribution from trading operations. Inventory increased $0.7 million from year-end, partly reflecting higher UK stock levels built in advance of revenue recognition on deferred orders. Cash is forecast to be neutral in Q2 2026.
Business Outlook
The Company enters Q2 2026 with solid momentum, supported by Q1 performance that validates the business’s direction. New product introductions continue to advance. Aero5 DO-160 qualification testing is progressing, which will result in the only D0-160 bonded solution in the Aviation market. The Company’s AI initiative is expected to contribute an additional $0.3 million in annualized savings and is expected to accelerate time-to-market, improve quality, and reduce costs across the organization throughout 2026.
On the U.S. Federal front, the Company has now submitted eight RFI responses year-to-date and continues to advance engagement with priority defense and homeland security agencies. Management remains cautious about near-term MilGov booking timing given U.S. Federal budget dynamics and delays, but views the strategic opportunity as significant and well aligned with the Company’s technology roadmap and MOSA-compliant, waveform-agnostic product platform.
Management expects operating expenses to continue declining in 2026. The Company remains focused on sustaining EBITDA profitability, converting its pipeline into revenue, growing its MilGov presence, and advancing its path toward full profitability.
Business Outlook
The Company enters Q2 2026 with solid momentum, supported by Q1 performance that validates the business’s direction. New product introductions continue to advance. Aero5 DO-160 qualification testing is progressing, which will result in the only D0-160 bonded solution in the Aviation market. The Company’s AI initiative is expected to contribute an additional $0.3 million in annualized savings and is expected to accelerate time-to-market, improve quality, and reduce costs across the organization throughout 2026.
On the U.S. Federal front, the Company has now submitted eight RFI responses year-to-date and continues to advance engagement with priority defense and homeland security agencies. Management remains cautious about near-term MilGov booking timing given U.S. Federal budget dynamics and delays, but views the strategic opportunity as significant and well aligned with the Company’s technology roadmap and MOSA-compliant, waveform-agnostic product platform.
Management expects operating expenses to continue declining in 2026. The Company remains focused on sustaining EBITDA profitability, converting its pipeline into revenue, growing its MilGov presence, and advancing its path toward full profitability.
Consolidated balance sheets and the full report can be downloaded here.
Forward-Looking Statements
Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations about future events and are predictions based on our current expectations and assumptions. We caution readers that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified, and, consequently, the actual performance of Vislink Technologies, Inc. may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, our ability to sustain EBITDA profitability, our ability to execute our strategic transformation toward Military/Government markets, U.S. Federal budget dynamics and their impact on defense procurement, our ability to develop and introduce new products and to secure customer orders for such products, competition, and other factors described from time to time in our reports filed with the OTC Disclosure & News Service. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.
About Vislink Technologies, Inc.
Vislink Technologies is a global technology leader in capturing, delivering, and managing high-quality live video and associated data. With a renowned heritage in video communications spanning over 50 years, Vislink has revolutionized live video communications by delivering the highest-quality video from the scene, even in the most challenging transmission conditions, enabling broadcasters, defense, and public safety agencies to capture and share live video seamlessly and securely. Vislink provides live streaming solutions using RF, bonded cellular, 5G, and AI-driven technologies. Vislink’s shares of common stock are publicly traded on the OTCID Capital Market under the ticker symbol “VISL.”
Investor Relations & Media Contact
Investor Relations:
investors@vislink.com
Media Contact:
Ben Yelton, Marketing Manager
ben.yelton@vislink.com
