Terago (TGO) Q1 2025 earnings summary

Executive summary

• Q1 2025 performance focused on profitability and efficiency, with growth in ARPA, backlog, and improved cost discipline, while maintaining stable net loss and supporting innovation in 5G/6G technologies.

• Positioned as a leading millimeter wave spectrum owner, leveraging regulatory clarity to support long-term strategy for high-capacity, low-latency connectivity.

Financial highlights

• Q1 2025 total revenue was $6.41 million, slightly down from Q1 2024, mainly due to churn from discontinuing unprofitable accounts.

• Adjusted EBITDA rose 10.9% year-over-year to $1,032,000, driven by higher gross margin and lower operating expenses.

• Net loss for Q1 2025 was $3,536,000, nearly flat versus Q1 2024.

• Gross profit margin improved to 73.9% from 72.9% year-over-year.

• Ended Q1 2025 with $2.1 million in cash and equivalents.

Outlook and guidance

• Strong backlog of $96,405 in monthly recurring revenue, most expected to be provisioned in 2025.

• EBITDA expected to increase as the year progresses due to seasonality and cost management.

• Confident in securing debt refinancing and expects to announce progress before Q2 results.

• Anticipates capital inflow from monetizing non-core assets, with announcements expected within 60 days.