10:11 AM EST, 11/13/2025 (MT Newswires) -- Vecima Networks ( VNWTF ) on Thursday reported a lower first-quarter net income and revenue.

The company's first-quarter net income was C$0.2 million, compared to $2.1 million in the corresponding year-ago quarter.

Adjusted earnings per share was reported at $0.05 per share in the quarter compared to $0.12 per share in the year-ago quarter.

First-quarter revenue was $71.1 million, compared to $81.9 million in the year-ago quarter. The consensus estimates compiled by FactSet for revenue was $70 million.

Adjusted EBITDA for the quarter was reported at $11.5 million, compared to $12.1 million in the same quarter last year.

First-quarter gross margin was 42.1%, compared to 41.7% in the year-ago quarter.

"We delivered another quarter of sequential quarterly revenue growth and paired it with significantly stronger gross margin performance as our fiscal 2026 year got off to a good start," said Sumit Kumar, Vecima's President and Chief Executive Officer.

The company said that trade actions had a negligible impact on the 84% of Vecima's sales made to the US in Q1 fiscal 2026.

"The first quarter also brought significant product achievements," said the CEO. "We made further progress commercializing our new vCMTS solutions. We continued to advance toward deployments with our lead customer, secured a second vCMTS customer win in Europe, and significantly increased vCMTS program engagements.

"Looking ahead, we see multiple Entra product and program launches in the VBS segment and growing demand for our IPTV and DAI solutions in the CDS segment generating an overall growth trend for the business," added the CEO. "While we anticipate recent industry consolidation among key cable operators is likely to shift some of the demand acceleration into early fiscal 2027, our confidence in delivering solid sales volumes, expanding margins, and strong adjusted EBITDA performance in fiscal 2026 remains high."

The company's shares were last seen down $0.02 to $9.98 on the Toronto Stock Exchange.

Price: 9.98, Change: -0.02, Percent Change: -0.20