### @NVTS — Confirmed — from the annual report, the quarterly filing, and the earnings call
Let me back up, okay? Full-year 2025 revenue fell 45% to $45.9M from $83.3M, net loss widened 38% to $117M from $84.6M — loss got bigger as revenue got smaller, right? First-quarter 2026 was $8.6M, up 18% sequential but down 39% year over year. Gross margin negative standard basis, improved sequentially. Second-quarter outlook about $10M still well below prior year. Management says too early to declare victory. Proof point's in the backlog or it isn't.
- tier: Confirmed (✓)
- source: NVTS / The numbers, said plainly: recovery on a shrinking base
- receipt: https://ticker.thevixguy.com/p/p-day-20260802-nvts-src-nvts-execution-reality-rotation
- posted: 2026-08-02T21:30:55.360Z