ROC Revenue Doubles Sequentially to $5.1M, Gross Margin Hits 90%
ROC sits 21% above its 52-week low of $3.71.
Summary
Q2 revenue nearly doubled sequentially to $5.1 million, driven by a $4.9 million government R&D contract that had been delayed earlier in the year. Gross margin expanded to 90% from 80% a year ago, and government R&D revenue grew 41% year over year. ROC Evidence, the company's new digital evidence product, generated its first commercial revenue ahead of plan through a DEA deployment. Management expressed confidence in a second-half revenue ramp, citing improving government procurement activity. The company also converted its first two ROC ABIS pilot customers into long-term deployments and expanded ROC Enroll with MTN in South Africa. This follows the ZTC acquisition announced in June, which is expected to close in Q3 and accelerate ROC Evidence commercialization.
At the time of this announcement, ROC was trading at $4.49 on NASDAQ in the Technology sector, with a market capitalization of approximately $85.7M. The 52-week trading range was $3.71 to $7.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.