11:08 AM EST, 02/21/2025 (MT Newswires) -- Legend Power Systems ( LPSIF ) ,on Friday said its fiscal first-quarter loss narrowed as revenue surged.

The company, which provides an energy management platform, said its loss in the quarter ended Dec.31 fell 4% to $1.03 million, from $1.08 million, in the prior year period. Legend Power ( LPSIF ) said a higher gross margin, and cost-cutting measures resulted in a narrower loss.

Revenue surged to $82,000, from $1,500 in the year-prior quarter. The higher revenue was primarily due to due to the fulfillment of SmartGATE units, the company said.

"The first quarter of 2025 marks a pivotal moment for Legend Power Systems ( LPSIF ) as we build on the momentum generated over the past year," said Chief Executive Randy Buchamer. "Building owners require their facilities to operate optimally at all times, and SmartGATE has proven its ability to enhance reliability and efficiency."

The company's shares were last seen down $0.01 to $0.19 on the TSX Venture Exchange.

Price: 0.19, Change: -0.01, Percent Change: -2.56